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Global Thioacetic Acid Market Segmented By Application such as Heavy Metal Separation, Manufacture of Cysteine, Food Additives, Food Flavors and Chemical Intermediates
Increasing demand from Pharmaceuticals and Fine Chemicals is expected to bolster the demand for Thioacetic Acid
Thioacetic Acid is an organo-sulfur compound that can be easily recognized by its stringent odour. Thioacetic acid is can be produced by reacting acetic anhydride with hydrogen sulphide and can also be produced by reaction of phosphorous pentasulfide on glacial acetic acid and is separated by distillation.
Thioacetic acid is prominently used as raw material for pharmaceuticals, chemicals including agrochemicals, rubbers & polymers and other applications. Thioacetic acid is the only available thioacid used for the preparation of mercaptans or thioesters. The mercaptans and thioesters produced from thioacetic acid are used widely in the production of drugs, pesticides, fragrances & flavours, metal scavengers & cleaners and tire additives.
Thioacetic Acid can be used either as sulfur donor or as for preparation chain transfer agent of thio compounds polymer and rubber applications. Thioacetic acid is also used in the preparation of additive in tire industry. High purity thioacetic acid is used in the production of fine chemicals while purity grade <98% is preferred rubber and polymer applications.
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Growth in polymer and rubber industry is expected to bolster the demand for thioacetic acid in upcoming future. After the downturn, automotive industry is anticipated to grow at a steady rate which is expected to propel the demand of tire and thereby is expected to positively impact the global thioacetic acid market.
Additionally, the automotive tires market imbibing polymers is expected to propel the demand for thioacetic acid. The burgeoning processed food products consisting of flavoured food & beverages is further projected to drive the thioacetic acid market during the forecast period. Depletion in overall harvested area for agriculture has increased the demand for agrochemicals which is expected to push the demand for thioacetic acid in major agrarian countries.
However, with the high cost of the product and availability of substitute chemicals, the growth of thioacetic acid market also faces a restraint. This hurdle can be overcome provided the producers achieve economies of scale based production and supply as well as launch improved variants of Thioacetic Acid to the specific end use verticals.
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Get a Customized VersionRubber & polymer and chemical industries have been impacted severely by the ongoing pandemic (Covid-19) crisis. The potential impacts of COVID-19, including shortage of subcontractors and materials, supply chains disruption, and the termination of contracts to control expenses.
However, growth in pharmaceuticals and agrochemicals industry has offset the downturn. COVID-19 pandemic is expected to have very less impact on the overall thioacetic acid market.
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Asia-Pacific region is estimated to account for a prominent share of the global thioacetic acid market and is expected to grow at higher rate owing to increasing demand for polymers & rubbers and pharmaceuticals in the region. This owing to the fact that the region is one of the major producer and the net exporter of thioacetic acid owing to presence of reputed manufacturers in the region.
North America and Europe thioacetic acid markets are expected to grow at steady rate driven by development in pharmaceuticals industry in these regions. Middle East & Africa and Latin America hold considerable share in thioacetic acid market.
Prominent player in Thioacetic Acid market are focusing on collaboration with local players and end-users to strengthen the distribution channel and ensure the long-term supply.
Some key players involved in the Thioacetic Acid market include Aggregate Industries
The research report presents a comprehensive assessment of the Thioacetic Acid market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Thioacetic Acid market segments such as product type and end-use industry.
The market 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 factors on Thioacetic Acid 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 compan
