Mercaptan Market Size to Exceed USD 2,693.57 Million by 2030 Witnessing a CAGR of 5.35% - Report by Market Research Future (MRFR)

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Market Research Future
Market Research Future

Mercaptan Market Insights and Industry Analysis By Type (Methyl Mercaptan, Ethyl Mercaptan, Propyl Mercaptan, Butyl Mercaptan, Octyl Mercaptan,Dodecyl Mercaptan, others), Application (Pesticides, Jet Fuels and Plastics, Animal Feed, others) ,Competitive Market Size, Share, Trends, and Forecast to 2030

New York, US, May 17, 2022 (GLOBE NEWSWIRE) -- Mercaptan Market Overview:

According to a Comprehensive Research Report by Market Research Future (MRFR), “Mercaptan Market Information by Type, by Application, and Region - Forecast till 2030”, the market is estimated to grow at a CAGR of 5.35% CAGR to reach USD 2,693.57 Million by 2030.

Market Scope:

The organic compound mercaptan is made up of an aryl or alkyl group and a thiol group. Mercaptan, also known as methanethiol, is a safe but unpleasant-smelling gas that has been compared to the smell of rotting cabbages or stinky socks. To make natural gas, which is colorless and odorless, easier to detect, it is frequently added. It's a carbon, hydrogen, and sulfur-based organic compound. It is a waste product of regular metabolism occurring naturally in living organisms, including the human body. It is one of the compounds that causes the unpleasant odor of bad breath and flatulence.

Competitive Dynamics:

Throughout the projected period, the worldwide mercaptan market is expected to increase at a healthy rate. In terms of consumption, the worldwide market is large and predicted to continue to rise year after year. The global mercaptan market is extremely fragmented, with tier-1 firms dominating.

  • Chevron Phillips Chemical Company LLC.

  • ARKEMA

  • Huntsman International LLC.

  • Evonik

  • TORAY FINE CHEMICALS CO., LTD.

  • Jiande Xingfeng Chemical Co., Ltd.

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Market USP Covered:

Market Drivers:

Because natural gas is less expensive than petrol, diesel, and electricity, it has become a popular power source as the world's industrialisation spreads. Natural gas use is said to present manufacturers with several expansion potential.

Chemical fertilizers, insecticides, and other chemical-based agricultural products are widely used across the world. Mercaptan is used as an intermediate in the synthesis of insecticides and fungicides in agriculture. Pesticides and fungicides are widely employed in modern agriculture and are an effective and cost-effective strategy to improve crop quality and quantity, assuring food security for the world's ever-growing population. The use of mercaptan for leak detection in chemical processing units and the natural gas industry has attracted a huge number of consumers around the world, and this trend is anticipated to continue in the near future.

Because of its high heating value, it does not impact the heating value when dissolved in natural gases. Furthermore, it is widely used in the production of agrochemicals and other speciality compounds.

Mercaptan's market demand is increasing as a result of its use in poultry and animal feed. The primary cause of the global rise in mercaptan market is the growing food need for a growing population. The versatility of mercaptan's end use applications, such as pesticide and fungicide industries, applications in mining operations for communication, jet fuel additives, and so on, is another demand growth driver.

Market Restraints:

The use of mercaptan is hazardous to both the environment and human health. Mercaptan is a central nervous system stimulant that also produces a distinct odor. Mercaptan is combustible in industrial settings and can cause headaches, nausea, eye irritation, and respiratory distress in high dosages. It can be quickly absorbed through inhalation and only slightly through skin and ocular exposure. Constant exposure to it also poses a serious threat to the ecosystem. Due to the significant loss of life at the site, some large corporations were forced to shut down their manufacturing operations. Many consumers prefer organically cultivated foods over those developed with synthetic chemicals, causing mercaptan market demand to be constrained.

Browse In-depth Market Research Report (100 Pages) on Mercaptan: https://www.marketresearchfuture.com/reports/mercaptan-market-10817

COVID-19 Evaluation:

The outbreak has had a considerable influence on global chemical and materials supply chains, international trade, and manufacturing activities. Mercaptan output fell during the COVID-19 pandemic, as market players were forced to shut down facilities or operate them at lower-than-optimal capacity in order to prevent the spread of the novel coronavirus. In addition, mercaptan production has been hampered by a paucity of raw materials due to supply delays caused by border and trade restrictions. Some major market participants, on the other hand, have continued to operate their manufacturing plants. Furthermore, falling raw material costs and poor demand from end-use sectors have resulted in excess stocks and, as a result, lower production.

Market Segmentation:

By Type, the market is segmented into Methyl Mercaptan, Ethyl Mercaptan, Propyl Mercaptan, Butyl Mercaptan, Octyl Mercaptan, Dodecyl Mercaptan, Others.

By Application, the market is segmented into Pesticides, Jet Fuels and Plastics, Natural Gas, Food and Nutrition, Animal Feed, Others.

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Regional Analysis:

In 2020, the Asia-Pacific market accounted for the greatest share in terms of both value and volume, followed by North America and Europe. Manufacturers will have the most chances in Asia-Pacific, which is expected to grow at the fastest rate. The increase in government investments, expansion of production capacity, collaboration of important players in the region, and high demand from end-use sectors are all contributing to this growth. Furthermore, China has emerged as one of the world's top producers and consumers of agrochemicals, contributing to the rise of mercaptan in China.

The second-largest market was in North America. The increasing chemical sector in the United States is primarily responsible for the rise of the North American mercaptan market. Chemical companies would consume the most mercaptan in North America, owing to rising demand for the synthesis of specialized chemicals and the detection of leaks. A huge number of international corporations are also intending to develop and build new facilities in the region. Technological improvements and a well-developed mercaptan industry are largely responsible for Europe's growth.

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