Methyl Mercaptan Market size was estimated at $XX billion in 2020 and is expected to reach $XX billion by 2028, growing at a CAGR of XX% during the forecast period of 2021 to 2028.
Methyl Mercaptan Market
Methyl mercaptan, also known as methanethiol or organosulfur, is a volatile organic compound that is used as an intermediate in producing pesticides. It is a colourless, flammable gas with a distinct smell. Methyl mercaptan is present in the blood, brain, and tissues of living beings such as plants, animals, and humans. It is also present in some food types like nuts, cheese, and asparagus. Methanol reacts with hydrogen sulfide to produce methyl mercaptan or methanethiol. Methyl mercaptan is called organosulfur due to the presence of organic sulfur content. Methanethiol is also used as a poultry and animal feed supplement. The other applications of methyl mercaptan are fungicides & pesticides, feedstock, intermediates, fuel additives, and catalysts.
Methyl Mercaptan Market Growth and Trend
The growing demand for methyl mercaptan in industries is significantly driving the growth of the global methyl mercaptan market. The advantages of the methyl mercaptan have compelled various industries to adopt this organic compound. It is a widely accepted intermediate product in the agricultural, chemical, plastic, and aerospace industries. This factor is significantly driving the growth of the methyl mercaptan market. The increasing demand for fertilizers and pesticides in the agricultural sector is creating a wide range of opportunities for the methyl mercaptan market. Methyl mercaptan is used as a significant intermediate in manufacturing pesticides and fertilizers. Therefore, the higher demands of methanethiol are anticipating the methyl mercaptan market to grow exponentially.
However, the covid19 pandemic adversely affected many countries resulting in the global economic slowdown. Governments of major economies imparted partial or complete lockdown in specific geographies. So, the manufacturing industries suspended their production of methyl mercaptan temporarily due to the unavailability of raw material and labour. The impact of the lockdown on these industries can negatively impact the methyl mercaptan market during the pandemic.
Methyl Mercaptan Market Segmentation
The methyl mercaptan market is segmented by component, process, application, and industry vertical. Based on components, the market consists of liquid and gas. By process, the market is divided into hydrogen sulfide & methanol synthesis, thiourea & dimethyl sulfate synthesis, and other processes. The hydrogen sulfide & methanol synthesis is estimated to expand the methyl mercaptan market, followed by thiourea & dimethyl sulfate synthesis. Based on application, the market is segmented into fungicides & pesticides, feedstock, intermediates, fuel additives, catalysts, and others. The fungicides & pesticides segment dominated the methyl mercaptan market, followed by the feedstock segment. With the increasing demand for fuels around the world, the fuel additives segment is anticipated to grow exponentially. Based on industry vertical, the market is divided into agriculture, chemical, food, aerospace, mining, plastic, and others. The agriculture segment is significantly driving the methyl mercaptan market to expand rapidly, followed by food segments. Due to the massive expanse of the global aviation industry, the aerospace segment also fostering the methyl mercaptan market.
Methyl Mercaptan Market Country Analysis
North America is likely to dominate the overall methyl mercaptan market growth during the forecast time frame. The regional growth can be attributed to the high demands of methyl mercaptan for jet fuel. This demand is especially higher in the United States. Moreover, with the massive demand for agricultural products in developing countries like India, China, and Japan, the market in the Asia Pacific is predicted to witness growth at a higher CAGR.
Methyl Mercaptan Market Share and Competition
The major players operating in the global methyl mercaptan market are Arkema S.A., Chevron Phillips Chemical Company LLC, DuPont, Wuji Zhongxian, and Evonik Industries.
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Component Type Analysis (Revenue, USD Million, 2021 - 2028)
Process Analysis (Revenue, USD Million, 2021 - 2028)
• Hydrogen Sulfide & Methanol Synthesis
• Thiourea & Dimethyl Sulfate Synthesis
Application Analysis (Revenue, USD Million, 2021 - 2028)
• Fungicides & Pesticides
• Fuel Additives
Industry Vertical Analysis (Revenue, USD Million, 2021 - 2028)
Region Analysis (Revenue, USD Million, 2021 – 2028)
• North America
o the United States
• South America
o the United Kingdom
• the Asia Pacific
o the Philippines
o South Korea
• Middle East
o GCC Countries
o South Korea
• South Africa
• Rest of World
Methyl Mercaptan Market Companies
• Arkema S.A.
• Chevron Phillips Chemical Company LLC
• Wuji Zhongxian
• Evonik Industries
• the United States Methyl Mercaptan Industry Research Report
• Europe Methyl Mercaptan Industry Research Report
• Asia Pacific Methyl Mercaptan Industry Research Report
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