Mercaptan Market Size Will Exceed USD 2,693.57 Million By

New York, U.S., May 17, 2022 (GLOBE NEWSWIRE) — Mercaptan Market Overview:

According to a comprehensive research report by Market Research Future (MRFR), “Mercaptan market Information by Type, Application and Region – Forecast to 2030“, the market is expected to grow at a CAGR of 5.35% CAGR to reach USD 2,693.57 million by 2030.

Market scope:

The organic mercaptan compound consists 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 cabbage or stinky socks. To make natural gas, which is colorless and odorless, easier to detect, it is added frequently. It is an organic compound made from carbon, hydrogen and sulfur. It is a waste product of regular metabolism that occurs naturally in living organisms, including the human body. It is one of the compounds that causes the unpleasant smell of bad breath and flatulence.

Competitive dynamics:

Throughout the projected period, the global mercaptans market is expected to increase at a steady rate. In terms of consumption, the global market is large and is expected to continue to grow year on year. The global mercaptans market is extremely fragmented, dominated by Tier 1 companies.

  • Chevron Phillips Chemical Company LLC.
  • Huntsman International LLC.
  • Evonik
  • Jiande Xingfeng Chemical Co., Ltd.

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Covered USP market:

Market factors:

Because natural gas is cheaper than gasoline, diesel, and electricity, it has become a popular energy source as global industrialization spreads. The use of natural gas is said to offer manufacturers several opportunities for expansion.

Chemical fertilizers, insecticides and other chemical-based agricultural products are widely used around the world. Mercaptan is used as an intermediate in the synthesis of insecticides and fungicides in agriculture. Pesticides and fungicides are widely used in modern agriculture and are an effective and cost-effective strategy to improve the quality and quantity of crops, ensuring food security for an ever-increasing world population. The use of mercaptan for leak detection in chemical process units and the natural gas industry has attracted a large number of consumers worldwide, and this trend is expected to continue in the near future.

Due to its high calorific value, it has no impact on calorific value when dissolved in natural gases. Additionally, it is widely used in the production of agrochemicals and other specialty compounds.

The market demand for mercaptan is increasing due to its use in poultry and animal feed. The major cause for the global increase in the mercaptans market is the increasing food requirement of a growing population. The versatility of end-use applications of mercaptans, such as pesticide and fungicide industries, applications in mining operations for communication, jet fuel additives, etc., is another demand growth driver.

Market constraints:

The use of mercaptan is dangerous for the environment and human health. Mercaptan is a central nervous system stimulant that also produces a distinct odor. Mercaptan is combustible in industrial environments and can cause headaches, nausea, eye irritation, and respiratory distress at high doses. It can be absorbed rapidly by inhalation and only slightly by skin and eye exposure. Constant exposure to it also poses a serious threat to the ecosystem. Due to the heavy casualties at the site, some large companies were forced to shut down their manufacturing operations. Many consumers prefer organically grown foods over those developed with synthetic chemicals, which limits the market demand for mercaptans.

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COVID-19 assessment:

The outbreak has had a significant impact on global chemical and materials supply chains, international trade and manufacturing activities. Mercaptan production has plummeted during the COVID-19 pandemic as market participants have been forced to shut down facilities or operate them at less than optimal capacity to prevent the spread of the novel coronavirus. Additionally, production of mercaptans has been hampered by a shortage of raw materials due to supply delays caused by border and trade restrictions. Some major market players, on the other hand, continued to operate their manufacturing plants. In addition, falling raw material costs and weak demand from end-use sectors led to excess inventories and consequently 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 & Plastics, Natural Gas, Food & Nutrition, Animal Feeds, Others.

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Regional analysis:

In 2020, the Asia-Pacific market accounted for the largest share by value and volume, followed by North America and Europe. Manufacturers will have the best chance in Asia-Pacific, which is expected to grow at the fastest rate. Increased government investment, expansion of production capacity, collaboration from major players in the region, and strong demand from end-use sectors are all contributing to this growth. Additionally, China has become one of the world’s leading producers and consumers of agrochemicals, contributing to the boom of mercaptan in China.

The second largest market was in North America. The boom in the chemical sector in the United States is primarily responsible for the boom in the North American market for mercaptans. Chemical companies are believed to be the largest consumers of mercaptan in North America, due to growing demand for specialty chemical synthesis and leak detection. A large number of international companies also intend 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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