Methyl Mercaptan Market- Global Industry Analysis and Forecast (2023-2029) Trends, Statistics, Dynamics, Segmentation by Type, Application, Process, End-users, Source, and Region

Methyl Mercaptan Market was valued at US$ 1.74 Bn. in 2022. The Global Methyl Mercaptan Market size is expected to grow at a CAGR of 5.75 % through the forecast period.
Methyl Mercaptan Market Overview:
Methyl mercaptan is an organic molecule found in the blood, brain, and tissues of living organisms such as plants, animals, and humans. It can also be found in a variety of foods, including nuts, cheese, and asparagus. Methyl mercaptan is a sulfur-containing volatile organic molecule known as organosulfur. Methanethiol is another name for it. The reaction of hydrogen sulfide with methanol is the primary source of methyl mercaptan. Synthetic methionine is mostly made from methyl mercaptan, which is used as a chicken feed addition.

Methyl mercaptan is primarily used to make methionine, which is utilized in poultry and animal feed as a dietary supplement. Methyl mercaptan is also employed as an intermediary in manufacturing insecticides, fungicides, polymers, and animal feed additives in the industrial sector. It is also used by the plastics manufacturer as a moderator for free radical polymerization.To know about the Research Methodology :- Request Free Sample Report

2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2029. 2022 is a year of exception and analysis, especially with the impact of lockdown by region.
Methyl Mercaptan Market Dynamics:
The methyl mercaptan is flammable and dangerous. Continuous exposure to it poses serious health risks. Due to the catastrophic life damage inflicted at the site, some large corporations had to shut down their manufacturing operations. Many consumers prefer organically cultivated foods to those grown with synthetic chemicals, putting a lid on methyl mercaptan market demand.

Because of its use in poultry and animal feed, the demand for methyl mercaptan is increasing. The primary driver of the global rise in methyl mercaptan market is the expanding food demand for the growing population. The versatility of methyl mercaptan's end use applications, such as pesticide and fungicide industries, applications in mining operations for communication, jet fuel additives, and so on, is another demand growth driver.

Increasing Demand for the Natural gas: Non-corrosive mercaptans are frequently added to natural gas in order to identify a leak or spill. Mercaptans are also found in some natural wells, which can be beneficial because of their strong odor, which can assist people to notice the presence of gases. If there are too many mercaptans in the natural gas, the odor may drive communities away. Mercaptans may be removed or added depending on the concentration level to reduce the intensity of the smell and safeguard the infrastructure, or to ensure that the presence of natural gas is identifiable. It is anticipated that during the forecast period increasing demand for natural gas increases the growth of the Methyl Mercaptan Market.

Growing agricultural industry: Methyl Mercaptan is used as a precursor in the manufacturing of fungicides and pesticides. Fungicides and pesticides are used by farmers to protect their plants from insects, fungi, and pests. Increasing demand for food and grain will boost the growth of the methyl mercaptan market. In addition, methyl mercaptan is also used to produce methionine which is predominately used as a dietary supplement for poultry and animal feed. So, increasing demand for fungicides, pesticides, and animal feed in the agricultural industry will boost the growth of the Methyl Mercaptan Market through the forecast period.

Market Restraints

Increasing Environment and Health concern: Methyl mercaptan is a hazardous substance that is extremely poisonous and combustible. Methylene mercaptan poisoning can result in loss of consciousness, respiratory difficulties, and possibly death. It can harm the liver and kidneys, and it is thought to impact red blood cells, resulting in anemia. It irritates living things' soft tissue, such as the eyes and nasal tube. Apart from health concerns, it is one of the most flammable gases on the planet and also contains many harmful elements which can harm the environment. So, these are some factors that hinder the use of methyl mercaptan and affect the growth of the Methyl Mercaptan Market.
Methyl Mercaptan Market Segment Analysis:
Based on Application, the Methyl Mercaptan Market is segmented into Fungicides and Pesticides, Intermediate, Fuel Additives, Catalysts, and Others. The fungicides & pesticides segment is anticipated to grow at a faster rate because of the increase in demand for food and vegetables. Followed by the fungicides & pesticides segment intermediate and fuel additives are expected to grow in the forecast period because of the increasing demand for natural gas and jet fuel.Based on the End users, the Mercaptan Market is segmented into Chemical, Food, Feed, Mining, and Others. The feed segment holds the largest share in the Mercaptan market during the forecast period and is expected to grow at a CAGR of 6.8%. The increasing demand for animal feed will boost the growth of the Methyl Mercaptan Market through the forecast period.

The food segment is the second fast-growing segment in the  Market due to the increasing demand for food. Furthermore, increasing demand for Methionine amino acids will boost the growth of the Methyl Mercaptan Market. The chemical segment is also expected to grow more because of the increasing demand for fungicides and pesticides. Further, advancements in the chemical and mining industry can open new opportunities for Methyl Mercaptan Market.
Methyl Mercaptan Market Regional Insights:
The North America region dominated the market with a 42% share in 2021. The North America region is expected to witness significant growth at a CAGR of 4.8% through the forecast period. In addition, the Increasing demand for food and chemical boost the Methyl Mercaptan Market during the forecast period. Also, the presence of the key player in the region makes the North America region dominated in the Market through the forecast period. Asia Pacific and Europe are also anticipated to grow more in Market because of increasing food demand.

The objective of the report is to present a comprehensive analysis of the global Mercaptan Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Mercaptan Market dynamic, and structure by analyzing the market segments and projecting the Mercaptan Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Mercaptan Market make the report investor’s guide.
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Methyl Mercaptan Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 1.74 Bn.


Forecast Period 2023 to 2029 CAGR:
5.75%
Market Size in 2027:
US$ 2.58 Bn.


 Segments Covered:
by Sources
Natural
Synthetic


by Type
Liquid
Gas


by End-user
Chemical
Food
Feed
Mining
Others


by Application
Fungicides and Pesticides
Intermediate
Fuel Additives
Catalyst
Others


by Process
Hydrogen sulfide and Methanol Synthesis
Thiourea and Dimethyl Sulfate Synthesis
Others



Methyl Mercaptan Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Methyl Mercaptan Market Key Players
1. Arkema S.A.
2. Toronto Research Chemicals.
3. Chevron Phillips Chemical Company LLC
4. DuPont
5. Wuji Zhongxian
6. Evonik Industries
7. Finetech Industry Limited
8. Wuji Zhongxian
9. MuseChem
10.Alfa Chemistry
11.Sigma-Aldrich
12.Chemieliva Co., Ltd
13.AN PharmaTech
14.Parchem
15.Boc Sciences
16.Toray Fine Chemicals Ltd.
17.Huntsman International
18.Jinade Xingfeng Chemicals Co. Ltd.

Frequently Asked Questions:

1] What segments are covered in the Global Methyl Mercaptan Market report?
Ans. The segments covered in the Market report are based on Product Type, Application, Process, Sources, and End User.

2] Which region is expected to hold the highest share in the Global Methyl Mercaptan Market?
Ans. The North America region is expected to hold the highest share in the Market.

3] What is the market size of the Global Methyl Mercaptan Market by 2029?
Ans. The market size of the Market by 2029 is expected to reach US$ 2.58 Bn.

4] What is the forecast period for the Global Methyl Mercaptan Market?
Ans. The forecast period for the Methyl Mercaptan Market is 2023-2029.

5] What was the market size of the Global Methyl Mercaptan Market in 2022?
Ans. The market size of the Methyl Mercaptan Market in 2022 was valued at US$ 1.74 Bn.