Newark, May 21, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 13.9 billion thionyl chloride market will reach USD 25.1 billion by 2033. Rising demand for thionyl chloride over other reagents is anticipated throughout the projected period to fuel market expansion. Its main application is as a chlorinating agent, which converts carboxylic acid into carboxylic acid chlorides. In addition, it is employed in various processes, such as the chlorination of acid anhydride, the conversion of alcohols to alkyl chlorides, and the chlorine displacement of organic sulfonic acid and carboxylic acid. With all its benefits, thionyl chloride can be used instead of other reagents like phosphorous pentachloride. Thionyl chloride is a versatile reagent, and its gaseous byproducts benefit the product purification process by promoting its employment as a reagent.
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Scope of Global Thionyl Chloride Market
| Report Coverage | Details |
| CAGR | 6.1% from 2024 to 2033 |
| Market Size in 2023 | USD 13.9 Billion |
| Market Size by 2033 | USD 25.1 Billion |
| Largest Market | Asia Pacific |
| Base Year | 2023 |
| Forecast Year | 2024 to 2033 |
| Historical Year | 2020-2022 |
| Segments Covered | Type, End-Use Industry, Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
But it just breaks down into sulphur dioxide and hydrogen chloride. Significant petrochemical, agricultural, and chemical expansion is anticipated to propel the nation's thionyl chloride market. The area also offers technological benefits and is a desirable location for manufacturers, which will contribute to the thionyl chloride market's further expansion. Furthermore, a notable increase in battery sales in the United States is anticipated to bolster market expansion.
Asia Pacific will account for the largest market size during the forecast period.
China has emerged as the primary producer of thionyl chloride in the Asia Pacific area due to the rapid growth of its chemical industry and the growing demand from various end-user sectors. Owing to its economical and extensive manufacturing capacities, the country has emerged as a significant provider of trichloroethylene to global markets. Furthermore, the region's expanding pharmaceutical sector increases the demand for thionyl chloride in the production of pharmaceuticals.
The purity ≥ 99.5% segment dominated the market with the most significant revenue of USD 7.92 billion.
The purity ≥ 99.5% segment dominated the market, with the most significant revenue of USD 7.92 billion. Thionyl chloride, with a purity of greater than 99.5%, acts as a mediator in the production of agrochemicals. No final product contains thionyl chloride because of the health danger it poses to people.
The pharmaceutical agents segment dominated the market with the most significant revenue of USD 3.47 billion.
The pharmaceutical agents segment dominated the market with the most significant revenue of USD 3.47 billion. The world of healthcare is changing quickly, and people are spending more money on products linked to their health. Several factors influence this change, including modified eating, sleeping, and lifestyle habits. The utilisation of pharmaceutical raw materials and components like thionyl chloride is being driven by the growing global demand for medications among health-conscious consumers.
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Market Dynamics:
Drivers: Increasing demand for pharmaceuticals
An essential chemical step in the production of pharmaceuticals is thionyl chloride. Thionyl chloride consumption in drug manufacture may rise due to the pharmaceutical industry's expansion and the need for novel medications and treatments.
Restraint: Volatility in raw material prices
The market may fluctuate in the availability and cost of raw materials like phosphorus pentachloride and sulphur dioxide. Thionyl chloride production costs may be impacted by this volatility, which may affect manufacturers' profit margins.
Opportunity: Expanding electronics market
The need for lithium-ion batteries is increased by the electronics industry's rapid expansion, fueled by technological advancements and rising consumer electronics use. Thionyl chloride is essential to developing energy storage systems since it produces battery electrolytes.
Some of the major players operating in the thionyl chloride market are:
● Transpek Industries Ltd.
● Sigma Aldrich Co. LLC
● Angene International Limited
● ChemTik
● Sumitomo Seika Chemicals Co. Ltd.
● Chuyuan Group
● Sichuan Boxing
● Lanxess AG
● CABB Group
● Shandong Kaisheng New Materials Co. Ltd.
● Jiangxi Selon Industrial Co. Ltd.
● Aurora Fine Chemicals LLC
● China Pingmei Shenma Group
● Changzhou Xudong Chemical
● Shangyu Wolong Chemical
Key Segments covered in the market:
By Type:
● Purity < 99.5%
● Purity ≥ 99.5%
By End-Use Industry:
● Pesticides
● Chemical Synthesis
● Dyes
● Pharmaceutical Agents
● Battery
● Others
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About the report:
The global thionyl chloride market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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