Austin, Oct. 28, 2024 (GLOBE NEWSWIRE) -- The Mercaptan Market is projected to witness substantial growth, reaching USD 3.0 billion by 2032, with a compound annual growth rate of 5.3% from 2024 to 2032.
Trends Impacting the Mercaptan Market
Methionine is another well-known methyl mercaptan derivative and its demand, mainly due to the increasing growth of the animal feed industry, significantly boosts the forecast of the methyl mercaptan market over the mentioned time frame. With the world population expected to approach 10 billion individuals by 2050, demand for protein-rich foods such as meat and dairy products is also growing rapidly. In fact, according to the United States Department of Agriculture (USDA), U.S. meat production alone stood at about 108.5 billion pounds in 2021, a continuing upward trend that now mirrors the global scene more broadly. The increase in meat consumption creates a big demand for animal feed of high quality to ensure maximal growth performance, especially in the more intensive systems.
Request Sample Report of Mercaptan Market 2024 @ https://www.snsinsider.com/sample-request/2421
Key Players
Key Manufacturers
- ARKEMA (Methanethiol)
- Chevron Phillips Chemical Company LLC (Scentinel T-50)
- Evonik Industries AG (Vulkanox)
- TORAY FINE CHEMICALS CO., LTD. (Methyl Mercaptan)
- Jiande Xingfeng Chemical Co., Ltd. (Ethyl Mercaptan)
- Huntsman International LLC (TERT-Dodecyl Mercaptan)
- Chevron Oronite Company LLC (OLOA 22000)
- Phillips 66 Company (Mercaptan Scavengers)
- BASF SE (2-Mercaptoethanol)
- Sumitomo Chemical Co., Ltd. (Propyl Mercaptan)
- Solvay S.A. (Sodium Mercaptobenzothiazole)
- SHANGHAI BOC SCIENCES (Thioglycolic Acid)
- Tianjin Zhongxin Chemtech Co., Ltd. (N-Butyl Mercaptan)
- Zhejiang NHU Special Materials Co., Ltd. (Tert-Butyl Mercaptan)
- Wuhan Grand Hoyo Co., Ltd. (Thiourea Dioxide)
- Shandong Lianmeng Chemical Group Co., Ltd. (Thioglycolic Acid)
- Akzo Nobel N.V. (Mercaptobenzothiazole)
- Bruno Bock Chemische Fabrik GmbH & Co. KG (2-Mercaptobenzothiazole)
- Global Calcium PVT LTD (Mercaptopropionic Acid)
- Merck KGaA (2-Mercaptoethanol)
Methionine is primarily a limiting amino acid, and one of the most crucial ones in animal nutrition, as it directly contributes to promoting feed conversion and improves general health. As livestock producers aim for maximum performance and production, the inclusion of methionine in feed formulations is more critical than ever. In addition, the rising transition for measures of sustainable livestock farming practices has resulted in the use of feed supplements that facilitate nutrient absorption and reduce waste; thereby further spurring demand for methionine
According to the Food and Agriculture Organization (FAO), Global demand increase in meat is projected to grow by more than 70% by 2050, underlining the importance of effective feed additives including methionine. Geographically, the rise in consumption of mercaptan will help the market grow at a considerable rate owing to the burgeoning animal feed industry and the augmentation of livestock productivity through improved nutritional approaches.
Opportunities in the Mercaptan Market
Technological Innovations and Emerging Markets
R&D initiatives are important for innovation and wider applications of mercaptans among manufacturers in several business domains. R&D spending increases manufacturers to discover new chemical formulations and improved properties of mercaptans, which will be used in various applications including pharmaceuticals, flavors, and specialty chemicals.
Mercaptans are being explored in the pharmaceutical sector for their potential as a source of reagents for drug synthesis and as active pharmaceutical ingredients (APIs) due to their unique reactivity and ability to readily form pivotal intermediates. This paves the way for developing innovative therapeutic agents and optimizing current formulations.
Mercaptans have unique odors, highly useful in flavor and fragrance sectors which is why they are quite valuable, especially for creating flavor profiles in food products as well as beverages. The pursuit of these compounds by R&D, and the rationale behind it will yield innovative flavoring agents adapted to changes in consumer demand.
Mercaptan Market Report Scope:
Report Attributes | Details |
Market Size in 2023 | US$ 1.9 Billion |
Market Size by 2032 | US$ 3.00 Billion |
CAGR | CAGR of 5.3% From 2024 to 2032 |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Historical Data | 2020-2022 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
DRIVERS | • Mercaptan-based pesticides and fungicide intermediate sales are increasing as a result of the expanding agrochemicals market. |
If You Need Any Customization on Mercaptan Market Report, Enquire Now @ https://www.snsinsider.com/enquiry/2421
Moreover, with various industries focusing on sustainability solutions, R&D projects aiming at eco-friendly production methods and bio-degradable mercaptans can establish new market niches. Exploring diverse technologies and innovative solutions, manufacturers can witness growing mercaptan trends that will potentially boost growth and diversification in both industrial-regulator domains and consumer demands contact.
Which Region Held the Highest Market Share in the Mercaptan Market?
North America held the highest market share around 45% in 2023. This dominance is due to strong industrial demand, technological infrastructure along with several investments in R&D. The region has a well-established chemical manufacturing industry that includes strong agrochemical, pharmaceutical, and energy production industries which generate demand in mercaptans as key intermediates. The high consumption of natural gas is also driving the demand for mercaptans, especially ethyl mercaptan (for odorization in natural gas distribution). This includes economic demand based on government regulations that require natural gas to be mixed with odorants. The presence of well-known chemical companies and inventive startups also creates a competitive climate to develop new mercaptan-related applications. North America is a key region in the global mercaptan market, as increased focus on sustainability and green innovative practices results in investment into R&D to produce more sustainable alternatives. All these factors together make an attractive environment for mercaptan production and consumption, making North America a front-runner in this space.
Which Type Segment Dominated the Mercaptan Market in 2023?
Methyl Mercaptan held the largest market share around 34% in 2023. It is owing to its widespread applications and fundamental features that are a prerequisite as a chemical intermediate. Of special use in methionine production, an essential amino acid for animal feed, methyl mercaptan underpins the regionally booming livestock industry which is becoming more and more geared at increasing feed efficiency and promoting animal health. Its cost-effectiveness and relatively simple production process make this compound a staple with manufacturers, allowing it to remain competitive in the market. All in all, the needle of the highest market share within the mercaptan market is pointed towards methyl mercaptan owing to its critical applications coupled with increasing demand from agriculture and its essential role in safety standards.
Key Segments:
By Type
- Methyl Mercaptan
- Ethyl Mercaptan
- Propyl Mercaptan
- Butyl Mercaptan
- Octyl Mercaptan
- Dodecyl Mercaptan
- Others
By Application
- Pesticides
- Jet Fuels and Plastics
- Natural Gas
- Food and Nutrition
- Animal Feed
- Others
Which Application Segment Dominated the Mercaptan Market in 2023?
Animal Feed held the largest market share around 38% in 2023. Due to the growing appetite for protein-rich food and the critical use of methionine, a methyl mercaptan derivative in livestock nutrition the animal feed segment has currently emerged as the leading shareholder in the global mercaptans market. With the growth of populations and upward trend in feeding habits to extra meat and dairy items, an alternate option for livestock feed health supplements will become essential. Methionine is among the essential amino acids to enable better-growth-promoting, feed-efficient, and healthy animals, being a major component for high-quality animal feeds. In addition, the demand for balanced and nutritious feed formulations is primarily fueled by the expanding livestock sector, especially in developing economies, as it helps improve yield and maintain animal welfare.
Buy Full Research Report on Mercaptan Market 2024-2032 @ https://www.snsinsider.com/checkout/2421
Recent Developments
- In 2023, Arkema announced the expansion of its methyl mercaptan production capacity at its facility in Pierre-Bénite, France. This expansion aims to meet the growing demand for specialty chemicals and reinforce the company's position in the mercaptan market.
- In 2022, Huntsman expanded its product portfolio by introducing new mercaptan-based additives for the construction industry, which enhance the durability and performance of concrete. This move aligns with the rising trend towards high-performance construction materials.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization, by Country, by Type, 2023
5.2 Feedstock Prices, by Country, by Type, 2023
5.3 Regulatory Impact, by Country, by Type, 2023.
5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
5.5 Innovation and R&D, by Type, 2023
6. Competitive Landscape
7. Mercaptan Market Segmentation, Type
8. Mercaptan Market Segmentation, by Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
Access Complete Report Description of Mercaptan Market Report 2024-2032 @ https://www.snsinsider.com/reports/mercaptan-market-2421
[For more information or if you need any customization research mail us at info@snsinsider.com]
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
SNS Insider Offering/ Consulting Services:
Go To Market Assessment Service
Total Addressable Market (TAM) Assessment
Competitive Benchmarking and Market Share Gain
