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. During the forecast period of 2022-2028, the worldwide thioesters market is expected to grow at a CAGR of 4.8%.
Thioesters are widely employed in the processing of rubber and plastics, as well as in the manufacturing of food and feed, as well as in the creation of gasoline and lubricants, among other things.
Thioesters are organic compounds with a sulfur atom bonded to two carbon atoms, resembling esters but with a sulfur (thio) atom instead of oxygen. They play crucial roles in biochemical processes, particularly in fatty acid metabolism and protein modification. Thioesters are vital in enzyme reactions, forming high-energy intermediates, and are pivotal in acyl group transfer reactions. Their versatility and involvement in various biological and chemical processes make them significant in both scientific research and industrial applications.
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.
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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, these fall under the category of auxiliary antioxidants. One of the major functions of thioesters is to slow down the rate of oxidation and improve the operating life of the end product.
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 types rubber processing chemicals and plastic processing additives are expected to dominate the overall thioester market
One of the major challenges faced by the global thioester market is the chemicals used in the processing of thioesters are harmful in nature and further create ill effects on humans 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: Vendor Insights
Some of the key players reported in this study of the Global Thioester market 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
- Nanjing Hua Lim Chemical Co. Ltd.
- Addivant USA LLC
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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 are projected to register sound growth over the forecast period
Key Segmentation
By Material Type:
- DLTDP (Dilauryl Thiodipropionate)
- DTTDP (Ditridecyl Thiopropionate)
- DSTDP (Distearyl Thiodipropionate)
By Application:
- Rubber Processing
- Plastic Processing
- Fuel and Lubricants
- Food & Feed
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East and Africa
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