VALLEY COTTAGE, New York, July 23, 2018 /PRNewswire/ --
Future Market Insights delivers key insights on the global thioesters market in its latest report titled 'Thioesters Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028'. The long-term outlook on the global thioester market continue to be in a positive direction, with market value expected to increase at a CAGR of 4.6 % over the forecast period (2018-2028). 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 application segment, thioesters find their major adoption and attraction in rubber processing industry and is proposed to show its domination throughout the forecast period. Plastic processing is another important application area for 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 Mn 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 are classified as an organic compound which is formed after the esterification of carboxylic acids and thiols. On commercial scale thioesters falls under the category of auxiliary antioxidants. One of the major function of thioesters are to slow down the rate of oxidation and improves the operating life of the end product.
Thioesters are considered as one of the best additive in order to inhibit the oxidation process. With attributes like high solubility, better thermal stability and 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 antioxidant and further can be used in the numerous applications. With growing automobile & footwear industry the demand for high performance rubber increases significantly. In order to formulate the high performance tires the demand for novel rubber processing chemical increases which further fuels the demand thioesters. Also some other applications like plastic processing, food & feed and Fuels & lubricants creates significant demand for thioesters which further opens up the growth opportunity prospects for the thioesters manufacturer. Amongst all the application type rubber processing chemicals and plastic processing additives is expected to dominate the overall thioester market
One of the major challenge faced by the global thioester market is the chemicals use in the processing of thioesters are harmful in nature and further creates ill effects to the human when exposed. Moreover adoption of natural antioxidants because of its environment friendly nature is gaining attraction which dents the thioesters growth for long term
Thioesters Market: Segmentation Analysis
On the basis of material type DSTDP is projected to hold 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 for various types of rubber processing such as natural rubber, elastomers and synthetic rubber is projected to register sound growth over the forecast period
China is anticipated to hold dominant share in the global thioester market throughout the forecast period. This segment holds 30% of the market volume by the end of 2018. India and South East Asia &Other APAC countries are projected to register significant growth rate over the forecast period. India is projected to expand at a CAGR of 6.5 % over the forecast period owing to the significant growth in the construction cement industry.
Other regions such as Latin America and Middle East and Africa are showing an increasing use of thioesters. This is attributed to the increasing investments in the region for the product expansion by manufacturers
North America is projected to represent a notable share in the global thioester market but is a relatively mature market and is projected to expand at a CAGR of 2.3% over the forecast period. Western Europe and North America collectively represents a share of ~40 % in the overall thioester market.
Some of the key players reported in this study of the Global Thioester market include Songwon Industrial Co. Ltd, Addivant USA LLC., Reagens SPA, Trigon Antioxidants Pvt. Ltd, Bioray Chemical Co. Ltd, Double Bond Chemical Ind. Co. Ltd, Mayzo. Inc, ZX Chemtech amongst others.
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