Thioesters Market Overview
According to a research survey conducted by ChemView Consulting, the current valuation of the Global Thioesters Market is worth US$ 142.1 Mn in 2022. The market value of stainless steel is expected to reach US$ 220.7 Mn by 2032, growing at a CAGR of 4.5% over the forecast period.
A sulfur atom is connected to an oxygen atom by a carbon-sulfur bond in the thioester class of organic molecules. These sulfide esters are the most basic. R-COSR is the general formula for thioesters. Thioesters are created when the sulfur atom in alcohols and thiols interacts with acid catalysts to generate esters.
Thioester consumption has steadily risen due to demand from numerous end-use sectors. Thioesters sales worldwide have been positively impacted by the need for effective lubricants and synthetic rubber from various end-user industries, particularly the automotive and footwear industries.
ChemView Consulting has analyzed that heavy machinery, electrical equipment, construction equipment, and other capital equipment require prompt maintenance for effective operation. Regarding MRO activities, lubrication is one of the most important factors. These large machines work nonstop around the clock in harsh environments to support various tasks. These large, powerful devices are subject to wear and tear due to exposure to high temperatures and intense pressure. Heavy machinery operators use efficient lubricants as a solution to prevent this wear and tear, minimize downtime and maintain production. Manufacturers of lubricants are concentrating on adding particular qualities to their conventional, specialized lubrication formulations, such as high viscosity range, long-lasting operational life, and wider operating range of temperature & pressure. Thioesters are an antioxidant ingredient to give lubricating solutions the qualities above, increasing demand for thioesters across sectors.
Two functional groups in the thioester DLTDP include sulfur. It serves as a plasticizer and processing aid for rubber. It enhances rubber and plastics’ flexibility and heat resistance, and processability. Di-lower alkyl thioesters of diethylene glycol, or DLTDP, are a thioester in which the sulfur atom is connected to two lower alkyl groups.
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Segments Covered in Report
By Type:
- DLTDP (Dilauryl Thiodipropionate)
- DTTDP (Ditridecyl Thiopropionate)
- DSTDP (Distearyl Thiodipropionate)
By Application:
- Rubber Processing
- Plastic Processing
- Fuel and Lubricants
- Food & Feed
- Others
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Thioesters Market
- Based on the type, DLTDP has consistently been in higher demand.
- Based on the application, rubber processing will continue to be a major application area for thioesters globally
- The Asia Pacific region is anticipated to have the highest market share during the projected period, at 62.5%. The expansion of this area can be linked to the rise in thioester demand from the plastic and rubber processing industries.
Competition Summary
Key companies covered in the market study are 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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Report Key Highlights
- Detailed information on factors that will assist Global Thioesters’ growth during the next ten years
- Assessment of the historical and current Global Thioesters Market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
- The growth of the market across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa
- Segment-wise, country-wise, and region-wise market analysis
- Key drivers, restraints, opportunities, and key emerging trends impacting market growth
- Predictions on critical supply, demand, and technological trends and changes in consumer behavior
- Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
- Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
- Covid-19 impact on the market and how to navigate
- Strategic market analysis and recommendations on crucial winning strategies
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