Future Market Insights delivers key insights on the global thioesters market in its latest report titled ‘Thioesters Market: Global Industry Analysis 2017-2021 and Opportunity Assessment 2022-2028’. The long-term outlook on the global thioester market continues to be in a positive direction, with market value expected to increase at a CAGR of 4.6 % over the forecast period (2022-2028).
Further coming to the segmental analysis, amongst the material type DSTDP is expected to offer significant absolute $ opportunity for market players during the period. Among the application segment, thioesters find their major adoption and attraction in the rubber processing industry and are proposed to show their domination throughout the forecast period.
Plastic processing is another important application area for the thioester and is projected to register considerable growth over the forecast period. The sales of thioesters are estimated to be valued at US$ 102.9 Million by the end of 2018, witnessing a Y-o-Y growth of 3.9% over the year 2017. China is estimated to account for a value share of 28.3% in the global thioester market by 2018 end and it is anticipated to retain its dominance throughout the forecast period.
Thioester is classified as an organic compound that is formed after the esterification of carboxylic acids and thiols. On a commercial scale, thioesters fall under the category of auxiliary antioxidants. One of the major function of thioesters is to slow down the rate of oxidation and improves the operating life of the end product.
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Thioesters are considered one of the best additives to inhibit the oxidation process. With attributes like high solubility, better thermal stability, and a high degree of antioxidant properties the thioesters are proving as a choice of antioxidant in the market. It can also be used with a combination of other types of antioxidants and further can be used in numerous applications.
With the growing automobile & footwear industry the demand for high-performance rubber increases significantly. To formulate high-performance tires the demand for novel rubber processing chemicals increases which further fuels the demand thioesters.
Also, some other applications like plastic processing, food & feed, and Fuels & lubricants create significant demand for thioesters which further opens up the growth opportunity prospects for the thioesters manufacturer. Amongst all the application type rubber processing chemicals and plastic processing additives is expected to dominate the overall thioester market
One of the major challenge faced by the global thioester market is the chemicals used in the processing of thioesters are harmful in nature and further creates ill effects on human when exposed. Moreover, the adoption of natural antioxidants because of their environment-friendly nature is gaining attraction which dents the thioesters growth for the long term
Thioesters Market: Segmentation Analysis
- Based on material type DSTDP is projected to hold a relatively higher share throughout the forecast period. This segment is estimated to hold a share of 59.9 % in 2018 and is expected to expand at a CAGR of 4.8 % over the forecast period
- Among applications, rubber processing segments where thioesters are an integral part of various types of rubber processing such as natural rubber, elastomers, and synthetic rubber is projected to register sound growth over the forecast period
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Thioesters Market: Vendor Insights
Some of the key players reported in this study of the Global Thioester market include Songwon Industrial Co. Ltd, Addivant USA LLC., Reagens SPA, and Trigon Antioxidants Pvt. Ltd, Bioray Chemical Co. Ltd, Double Bond Chemical Ind. Co. Ltd, Mayzo. Inc, ZX Chemtech amongst others.
Thioesters Market by Category
By Material Type, the Thioesters market is segmented as:
- DLTDP (Dilauryl Thiodipropionate)
- DTTDP (Ditridecyl Thiopropionate)
- DSTDP (Distearyl Thiodipropionate)
By Application, the Thioesters market is segmented as:
- Rubber Processing
- Plastic Processing
- Fuel and Lubricants
- Food & Feed
- Others
By Region, the Thioesters market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East and Africa
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Thioesters Market: Regional Analysis
China is anticipated to hold a dominant share in the global thioester market throughout the forecast period. This segment holds 30% of the market volume by the end of 2018. India and South East Asia &Other APAC countries are projected to register significant growth rates over the forecast period.
India is projected to expand at a CAGR of 6.5 % over the forecast period owing to the significant growth in the construction cement industry. Other regions such as Latin America and the Middle East and Africa are showing an increasing use of thioesters. This is attributed to the increasing investments in the region for product expansion by manufacturers
North America is projected to represent a notable share in the global thioester market but is a relatively mature market and is projected to expand at a CAGR of 2.3% over the forecast period. Western Europe and North America collectively represent a share of ~40 % in the overall thioester market.
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