Thioesters Market

Global Thioesters Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Thioesters Market was worth US$ 142.1 Mn and is expected to grow at a CAGR of 4.5% over the forecast period. While the historical CAGR is 3.8%, the market is expected to hit US$ 220.7 Mn by 2032 end.

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.

Market Dynamic

EFFICIENT LUBRICANTS SOLUTIONS IN VARIOUS INDUSTRIES BOLSTER THE BUSINESS GROWTH

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.

Thioesters Market

Market 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)

Segment-Wise Analysis

What is the Significance of DLTDP?

Two of the 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.

Which applications command growth of thioesters market during the forecast period?

Rubber processing will continue to be a major application area for thioesters globally. It is projected that more than 88.1% of Japan’s compound’s value share is used jointly across both applications.

The need for high-performance tires has substantially increased as the demand for automobiles grows worldwide. To extend the working life of tires, major tire manufacturers include innovative antioxidants in tire formulation. Shortly, this is anticipated to encourage the Thioester market’s expansion.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.

• 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.
• Despite initial doubts about how the market would fare in the event of a global pandemic, the U.S. thioesters market is predicted to rise by 3.0% year over year. Tires are in high demand in the nation due to the recovery in automotive vehicle manufacturing and the size of the country’s existing fleet, which also increases the need for chemicals used in rubber processing.

Competition Analysis

The number of acquisitions and growth operations has increased over the last few years, which has helped to increase the supply of thioesters. Enhancing the effectiveness of thioesters for varied applications is another major focus. Several manufacturers have also emerged, particularly in China, in the worldwide marketplace.

The key developments in the Global Thioesters Market are:

• In July 2021, MegaChem and Songwon Industrial Co., Ltd. increased their distribution cooperation. MegaChem is a well-known distributor of SONGWON’s fuel and lubricant antioxidants in the ASEAN region.

A list of some of the key suppliers present in the market 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

Global Thioesters Market 2022-2032: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
• 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.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies