Ethyl Mercaptan Market Forecast and CAGR
According to latest research by Fact.MR, the global ethyl mercaptan market is set to surpass value of US $ 400.0 Mn by 2031 at a higher single-digit CAGR. Due to its pungent smell, it is highly been utilized in natural gas, chemical processing units and other industries for identifying minute leaks. This will lead to giving a tremendous growth rate to the sale in terms of both volume & value during the forecast period.
Muted demand from end-use industries has bottlenecked the opportunities in Q3 and Q4 of 2020 with growth rate of -4.8% during this year. However, the consumption of ethyl mercaptan in plastic manufacturing industries is likely to provide momentum in next couple of years.
What is Driving Demand for Ethyl mercaptan?
The consumption of ethyl mercaptan for leak identification in chemical processing units and natural gas industries has attracted a large number of consumers globally, and likely to follow the same trend in near future.
Due to its significant heating value, when it is being dissolved with natural gases it does not affect the heating value. In addition to this, it is been highly consumed in the synthesis of agrochemicals and other specialty chemicals.
Due to its pungent smell, it is also highly been utilized for pest control-related activities. This application segment also accounts for noteworthy demand and attributed to provide a spurt in sale during the forecast period.
The plastic manufacturing industries also account for significant production, since it acts as an intermediate & starting material in these industries. Moreover, the rising adoption of plastic furniture is predicted to give a positive impact on the production rate, since it addresses the plastic waste challenge.
Additionally, the versatility of the ethyl mercaptan makes it useful for various end-use industries, the rising consumption in other industries such as agrochemical, and food industry is projected to provide momentum in upcoming years.
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Natural Gas Industry is Likely to Augment Ethyl mercaptan Sales
Natural gases are odorless and colorless, due to this property it’s very difficult to identify the leakage. The natural gas leakage can cause an accident in residential and industrial areas. The utilization of ethyl mercaptan in natural gas addresses this challenge and also ensures the quality of natural gas.
The expanding industrialization across the globe has observed a convenient consumption of natural gas as a power source since it is cheaper than petrol, deasil and electricity. The consumption of natural gas is attributed to provide numerous growth opportunities to manufacturers.
Ethyl mercaptan is also used extensively in plastic manufacturing, chemical processing units and other industries. Although COVID-19 guidelines have meant restricted manufacturing activities, the sale is likely to improve throughout the assessment period.
North America Ethyl mercaptan Market Outlook
North America is one of the leading consumer of ethyl mercaptan. Especially, U.S. is the prominent manufacture and consumer in this region. Hence, North America is poised to lead the market during the assessment period 2021-2031. Since rapid urbanization and industrialization has witnessed considerable sale from consumers end in historical years.
Consumption for ethyl mercaptan in North America will be led by chemical industries due to its high consumption for the synthesis of specialty chemicals and leaks identification. However the demand in early 2020 was muted due to COVID-19 protocols, but the trend is showing a promising stance for manufacturers in next couple of years.
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Asia Pacific Demand Outlook for Ethyl mercaptan
Asia Pacific region also holds a noteworthy market share. This will led to provide a promising stance to manufacturers to invest in the Asia Pacific region. The demand from the Countries such as India, China, Indonesia, South Korea, Japan and others is likely to surge due to rapid industrialization and urbanization.
The Pharmaceutical sector also accounting for significant sale in Asia Pacific. In addition to this, India has the second-largest gas hydrate reserves. The exploitation of this reserve will consume more ethyl mercaptan for odorization purpose. which is further anticipated to witness a surge in demand during the forecast period.
Who are the Key Manufacturers and Suppliers of Ethyl mercaptan?
Some of the leading manufacturers and suppliers of ethyl mercaptan include Chevron Phillips Chemical, Sunland Chemical, parchem, SAE Manufacturing Specialties Corp, M Chemical Company, Inc., Scientific Solutions, LLC, Arnette Polymers LLC, Mallinckrodt, Inc., Shandong Zhi Shang Chemical Co., Ltd, Arkema S.A., N SHASHIKANT & CO., DowDuPont Inc., TCI Chemicals and other prominent companies.
The ethyl mercaptan market is highly fragmented in nature due to presence of large number of manufacturers across the world. To acquire a dominant position, emphasis is laid to inorganic growth strategies like merger, expansion, acquisition, partnership and collaboration of the companies.
An Adaptive Approach to Modern-day Research Needs
Ethyl Mercaptan Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
By formation Method
- Ethanol / Ethylene Method
- Anhydrous Ethanol Method
- Ethyl Chloride Method
- Other Methods
By Raw Materials
By End Use Industry
- Chemical Industry
- Natural Gas industry
- Plastic Industry
- Pharmaceutical industry
- Agrochemical Industry
- Food industry
- Chemical Synthesis
- Ink/ Dye additives
- Lpg Odorization
- Pesticide Intermediates
- Warning Agents
- Colorless to yellow appearance
- Pungent smell
- Highly flammable
By Distribution Channel
- Chemical Stores
- Multi-brand Stores
- Retail Sales
- Distributor Sales
- E-commerce Websites
- Company-owned Websites
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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