The thioesters industry is expected to rise 4.7% year on year in 2022, reaching a value of around US$ 112.5 million by the end of 2022. Thioesters find extensive application in the processing of rubber and plastics, as well as in the manufacturing of feed and food items, lubricants, and gasoline. The predicted compound annual growth rate (CAGR) for the global thioesters market is 4.8% from 2022 to 2028.
Similar to esters but with a sulfur (thio) atom in place of an oxygen atom, thioesters are organic compounds that have a sulfur atom bound to two carbon atoms. They are necessary for metabolic processes like protein modification and the metabolism of fatty acids. Because they produce high-energy intermediates and play a crucial role in acyl group transfer activities, thioesters are indispensable in enzyme reactions. They are valuable for scientific research as well as practical uses in industry because of their versatility and involvement in a wide range of biological and chemical processes.
Moving on to the segmentation analysis, DSTDP is anticipated to present a substantial absolute dollar opportunity for market participants over the course of the timeframe. Thioesters are the application segment that is most widely used and attractive in the rubber processing industry. It is predicted that they will continue to dominate this market for the duration of the forecast.
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Another significant application area for the thioester is plastic manufacturing, which is expected to increase significantly over the course of the forecast period. By the end of 2018, it is predicted that thioesters would have sold for US$ 102.9 million, a 3.9% increase over the previous year. By the end of 2018, China is projected to hold a value share of 28.3% in the worldwide thioester market, and it is expected to continue to dominate the market for the duration of the forecast period.
An organic molecule known as a thioester is created when thiols and carboxylic acids are esterified. These come under the heading of supplementary antioxidants when used commercially. Slowing down the rate of oxidation and extending the finished product’s useful life is one of thioesters’ main functions.
One of the finest additives for preventing oxidation is thought to be thioesters. Thioesters are showing up as a popular alternative for antioxidants in the market thanks to qualities including excellent solubility, improved thermal stability, and a high level of antioxidant activities. It can also be utilized in a variety of applications and in conjunction with other kinds of antioxidants.
The increasing automotive and footwear industries are driving up demand for high-performance rubber. The need for innovative rubber processing chemicals is growing in order to create high-performance tires, which in turn fuels the demand for thinners.
The increasing automotive and footwear industries are driving up demand for high-performance rubber. The need for innovative rubber processing chemicals is growing in order to create high-performance tires, which in turn fuels the demand for thinners.
The fact that the chemicals used to manufacture thioesters are hazardous by nature and have negative effects on humans upon exposure is one of the main challenges facing the global thioester market. Additionally, the usage of natural antioxidants is becoming more popular because to its favorable effects on the environment, which hinders the long-term proliferation of thieves.
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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
Thioesters Market: Vendor Insights
Some of the key players reported in this study of the Global Thioester Industry include
- Mayzo, Inc.
- Trigon Antioxidants Pvt. Ltd.
- Reagens S.p.A.
- Tianjin Zhongxin Chemtech Co. Ltd.
- Double Bond Chemical Ind. Co. Ltd.
- Bioray Chemical Co. Ltd.
- Songwong Industrial Co. Ltd.
- Hangzhou Jingyou Chemical Co. Ltd.
- Dalian Richfortune Chemicals Co. Ltd.
- Beijing Yizhong Weiye Chemical Co. Ltd.
- HongKun Group
- Nanjiing Hua Lim Chemical Co. Ltd.
- Addivant USA LLC
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Key Segmentation
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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