The thioesters market to exhibit year on year growth of 4.7% in 2022 reaching a value of about USD 112.5 Million by 2022 end. Thioesters is significantly used in the processing of rubber and plastics and are also used in food and feed production along with fuel and lubricants and others.
The global Thioesters Market is projected to expand at CAGR of 4.8% during the projection tenure of 2022 to 2028.
FMI has identified China to remain key market for thioesters over the forecast period, with a projected value growth rate of 6.4% during the assessment period. As of 2020, Thioesters market accounted between 2% and 3% of global antioxidants market.
| Attribute | Details |
|---|---|
| Thioesters Market Size (2021A) | USD 107.5 million |
| Estimated Year Value (2022E) | USD 112.5 million |
| Projected Thioesterrs Market Size (2028F) | USD 147.7 million |
| Value CAGR (2022 to 2028) | 4.8% |
| Collective Value Share: Top 3 Countries (2022E) | 31.9% |
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.5% |
| H1,2022 Projected (P) | 4.8% |
| H1,2022 Outlook (O) | 4.7% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 10 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 20 ↑ |
In this half yearly analysis, Future Market Insights have provided detailed analysis of global thioesters market for last two years based on half-yearly analysis. The analysis provides insights about the comparison of projected CAGR in its last report with current and updated CAGRs considering all the demographic changes happened during this year.
According to the analysis, global thioester market has witnessed robust growth owing to the consistent rise in demand across various end-use industries. Substantial growth in demand for efficient lubricants and synthetic rubber has uplifted the sales of thioesters over a recent period of time.
According to FMI analysis, the variation between the BPS values observed in the Thioesters market in H1, 2022 - Outlook over H1, 2022 Projected reflects a drop of 10 units. Moreover, compared to H1, 2021, the market is expected to spike by 20 BPS in H1 -2022.
Marvelous growth in demand for rubber, plastic and composite products has been observed worldwide. Thioester finds a key role in production of such commodities as an additive. Thioesters are known to enhance various characteristics of such commodities like stiffness, strength, and lightweight. Which is uplifting the sales of global thioesters market over a recent period of time.
Despite of such a high growth prospects of Thioesters, there are some challenges awaiting in the success path of Thioesters. Declining usage of thioesters with growing popularity of its alternative antioxidants in rubber production is expected to stifle the growth rate during the upcoming period.
Consumption of thioesters has been consistently growing due to increasing demand from various end use industries. Increase in the demand for efficient lubricants and synthetic rubber from various end usert industries has positively impacted thioesters sales across the globe primarily from automobile and footwear Industry.
Use of thioester as an additive in rubber, plastic and composite manufacturing to present significant growth opportunity for manufacturers during the forecast period.
Polymer composites and plastic based products are gaining traction for their usage in various automotive and aerospace applications. Product characteristics like stiffness, strength and light weight are noticed to be enhanced by the use of such additives.
Demand for thioesters between 2013 and 2021 grew at 4.0% CAGR as the pandemic crisis too impacted the market in recent times. Decrease in demand for thioesters in various application sector has impacted the market growth in 2020 which has resulted in decrease in the overall growth during 2020 and 2021.
With anticipated recovery in polymers and automotive industry, thioesters consumption is projected to grow at 4.6% CAGR over the assessment period of 2022 to 2028.
Principal Consultant
Heavy machinery, electrical equipment, construction equipment and other capital equipment require timely maintenance for efficient operations. Lubrication is one of the key factor when it comes to MRO activities. These heavy machineries operates in extreme conditions incessantly round the clock to facilitate variety of operations.
With the exposure to high temperature and excessive pressure these heavy machines are exposed to wear & tear . In order to avoid these wear and tear, heavy machinery operators are using effective lubricants solution in order to reduce the down time and maintain productivity.
Lube manufacturers are focusing on imparting special properties such as high viscosity range, long lasting operating life and expanded operating range of temperature & pressure in their typical specialized lube formulation.
Use of thioesters as an additive antioxidant are especially utilized to impart above said properties to the lubricating solutions which further fuels the demand for thioesters across the industries
One of the key restraints hampering business growth is the availability of alternative antioxidant available for rubber processing.
According to the market figures, rubber processing is the predominant application where thioesters are consumed at a large scale - it almost accounts for 53% of the overall rubber processing chemical consumption.
But several alternatives, like, hindered phenols, phosphites and amines are available in the commercial market. This is expected to act as a tumbling block in the growth of the thioesters market.
Presence of several market participants engaged in the production of alternative antioxidants can reap high operational profits and benefits.
In the market place the intensity of market players of phenolic, amine and phospite type antioxidants is relatively high, this further supports their penetration in the commercial market at a very large scale.
Also, shifting inclination towards the adoption of natural based antioxidants is further inhibits the market growth.
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In 2022, the USA thioesters market is expected to register 3.0% year on year growth, bucking initial skepticism about how the market would perform during a global pandemic.
Recovering automotive vehicle production and existing fleet on road in the country creates significant demand for tires which in turn fuels the demand for rubber processing chemicals.
Also in quest of increasing the fuel economy, automotive manufactures are using light-weight plastic parts in to the vehicle assemblywhich in turn creates demand for value added plastic additives like thioesters.
Sales of thioesters are growing at a rapid pace in India. The market is expected to gain traction at 7.2% CAGR between 2022 and 2028. Certain domestic market participants are collaborating with overseas manufacturers to enhance their sales volume.
With favorable FDI investment policies and the exceptional growth in Industrial sector major thioester manufacturers are adopting emerging business model plans in order establish their operations with in the country.
In last few year there has been substantial increase in demand for rubber & plastic products increases from numerous end user industries such as automobile , consumer goods, footwear to name a few. With expanding rubber & plastic industry the demand for additives is expected to swell which in turn creates the demand for thioesters.
China is anticipated to remain one of the leading market in terms of the consumption as well production of thioesters all over the globe. The consumption of thioesters will grow by 5.8% CAGR in terms of volume during the upcoming assessment period of 2021-2031.
With rise in consumption of DSDTP type of thioesters, numerous small size manufacturers are establishing and expanding their production units to streamline their production to produce DSDTP thioesters.
China has a presence of numerous players that have sizable production capacities to manufacture synthetic rubber and high performance thermoplastic which requires high consumption of thioesters as an additive. Flourishing plastic processing industry is expected to increase the penetration of thioesters in the region.
DSTDP segment is estimated to register a year on year growth of 4.9% in 2022 and the segment is further anticipated to witness an increment in the global market of about 70 bps. The antioxidant industry was sky rocketed in a past few years and the same trend is expected to follow over the forecast period.
Amongst various types of antioxidants available in the market place thioesters are gaining traction because of its better properties such as, high solubility, easy process ability and exceptional performance at elevated temperature. DSDTP in thioesters are adopted in large scale across the industries owing to its ability to provide exceptional result in harsh environment.
Rubber processing and platic processing to remain key application segment in the global business of thioesters. Together the consumption of the compound in both the applications is estimated to account for more than 88% of the value share in Japan.
As the demand of automotive vehicles increases across the globe, the demand of high performance tires has increased significantly. Major tire manufacturers are using novel antioxidants in the tire formulation in order to increase their operating life. This is expected to promote the growth of the Thioester market in the near future.
Over the past few years, incement in the number of acquisitions and expansion activities has been witnessed to improve the supply of thioesters. Several key players are also focusing on improving efficiency of tioesters for various applications. Emergence of various manufacturers had also been witnessed in the global business especially in China.
For Instance,
The latest study conducted by Future Market Insights covers all the strategies and success factors of key manufacturers of the market.
The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis is available in the report.
| Attribute | Details |
|---|---|
| Forecast Period | 2021 to 2031 |
| Historical Data Available for | 2013 to 2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Germany, UK, France, Italy, Spain, Russia, Poland, BENELUX, China, Japan, South Korea, India, ASEAN, ANZ, GCC Countries, Turkey, and South Africa, |
| Key Segments Covered | Material Type, Application, and Region |
| Key Companies Profiled | 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 |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The thioesters market is expected to total USD 112.5 Million in 2022.
The thioesters market has been estimated to exhibita growth rate of 4.6% between 2022 and 2028 on value basis.
The demand for thioesters increased by 4.7% in 2022.
Mayzo, Inc., Reagens S.p.A., Double Bond Chemical Ind. Co. Ltd., Songwong Industrial Co. Ltd., Hangzhou Jingyou Chemical Co. Ltd. are the leading market players. They collectively is anticipated to account for 30% to 40% of the global market share.
The demand in China is expected to increase by 6.4% CAGR between 2022 and 2028 on value basis.
China, U.S. and India, are the key consumers of thioesters.
Increasing focus on strategic expansion by capacity expansion and acquisitions undertaken by leading players expected to shape the market in the coming years. Emergence of new players especially in China is also expected to impact the market dynamics.
1. Executive Summary 2. Market Introduction 3. Market Background 4. Global Thioesters Market Analysis 2013 to 2017 and Opportunity Assessment 2018 to 2028 5. Global Thioesters Analysis 2013 to 2021 and Forecast 2022 to 2028, by Material Type 5.1. DLTDP (Dilauryl Thiodipropionate) 5.2. DSTDP (Ditridecyl Thiopropionate) 5.3. DTTDP (Distearyl Thiodipropionate) 6. Global Thioesters Analysis 2013 to 2021 and Forecast 2022 to 2028, By Application 6.1. Rubber Processing 6.2. Plastic Processing 6.3. Fuel and Lubricants 6.4. Food & Feed 6.5. Others 7. Global Thioesters Analysis 2013 to 2021 and Forecast 2022 to 2028, by Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. East Asia 7.5. South Asia & Pacific 7.6. Middle East & Africa 8. North America Thioesters Analysis 2013 to 2021 and Forecast 2022 to 2028 9. Latin America Thioesters Analysis 2013 to 2021 and Forecast 2022 to 2028 10. Western Europe Thioesters Analysis 2013 to 2021 and Forecast 2022 to 2028 11. Eastern Europe Thioesters Analysis 2013 to 2021 and Forecast 2022 to 2028 12. SEA & Other APAC Thioesters Analysis 2013 to 2021 and Forecast 2022 to 2028 13. China Thioesters Analysis 2013 to 2021 and Forecast 2022 to 2028 14. Japan Thioesters Analysis 2013 to 2021 and Forecast 2022 to 2028 15. India Thioesters Analysis 2013 to 2021 and Forecast 2022 to 2028 16. Middle East and Africa Thioesters Analysis 2013 to 2021 and Forecast 2022 to 2028 17. Market Structure Analysis 18. Competition Analysis 18.1. Mayzo, Inc. 18.2. Trigon Antioxidants Pvt. Ltd. 18.3. Reagens S.p.A. 18.4. Tianjin Zhongxin Chemtech Co. Ltd. 18.5. Double Bond Chemical Ind. Co. Ltd. 18.6. Bioray Chemical Co. Ltd. 18.7. Songwong Industrial Co. Ltd. 18.8. Hangzhou Jingyou Chemical Co. Ltd. 18.9. Dalian Richfortune Chemicals Co. Ltd. 18.10. Beijing Yizhong Weiye Chemical Co. Ltd. 18.11. HongKun Group 18.12. Nanjiing Hua Lim Chemical Co. Ltd. 18.13. Addivant USA LLC 19. Assumptions and Acronyms Used 20. Research Methodology
Automotive
February 2024
REP-BR-81
306 pages
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Thioesters Market
