Dublin, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The "Methanethiol Market, By Application, By End-Use Industry, And By Geography- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global methanethiol market is projected to grow from $8.86 billion in 2023 to $12.89 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 5.5%. Methanethiol, known for its distinctive sulfur-like odor, has a range of applications, making it a vital compound in various industries.
Methanethiol in Industry
- Flavoring Agent: Methanethiol serves as a flavoring agent in the food and beverage sector, contributing unique scents and tastes to various products.
- Fragrance Ingredient: It finds use in perfumes and personal care products, adding aromatic nuances that create memorable fragrances.
- Pesticide Precursor: The compound acts as a precursor in pesticide production, facilitating crop protection and supporting advancements in agriculture.
- Odorant in Natural Gas: Methanethiol is used as an odorant in natural gas, enhancing safety through the detection of gas leaks by its distinct smell.
Market Dynamics
- Drivers: Growth in the chemical industry, agricultural advancements, consumer demand for novel flavors and fragrances, and increasing global population and food requirements are catalysts for market growth.
- Challenges: Safety and handling concerns, environmental impact, sustainability, feedstock availability, and cost pose challenges to market expansion.
Key Features of the Study
- The report provides insights into revenue opportunities across segments and presents attractive investment matrices.
- It delves into market drivers, restraints, opportunities, trends, regional outlook, and competitive strategies adopted by key players.
- Profiles of market players include company highlights, product portfolios, financial performance, and strategies.
Impact on Stakeholders
- Investors, suppliers, manufacturers, distributors, newcomers, and financial analysts benefit from this report, aiding decision-making regarding product launches, upgrades, expansion, and marketing strategies.
- Strategy matrices assist stakeholders in analyzing the market and making informed choices.
Segmentation Overview
Applications:
- Flavoring Agent
- Fragrance Ingredient
- Pesticide Precursor
- Odorant
End Use Industries:
- Food and Beverage
- Flavors and Fragrances
- Agriculture
- Chemicals
Regions:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Key Company Profiles
- Chevron Phillips Chemical Company
- BASF SE
- Evonik Industries AG
- Arkema Group
- Solvay SA
- Prasol Chemicals Pvt. Ltd.
- TCI Chemicals (Tokyo Chemical Industry Co., Ltd.)
- Sasol Ltd.
- Merck KGaA
- Zhejiang Weihua Chemical Co., Ltd.
In conclusion, the global methanethiol market showcases growth potential due to its diverse applications across industries. While drivers like industrial growth and consumer preferences fuel this expansion, challenges such as safety concerns and environmental impact must be addressed to sustain this market's growth trajectory.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 140 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $8.86 Billion |
| Forecasted Market Value (USD) by 2030 | $12.89 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/xvasxz
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