Ammonium Thiocyanate Market: Overview
- Ammonium thiocyanate is an inorganic compound with the formula NH4SCN. It is a colorless solid, which can absorb moisture from the air and become liquid.
- The industrial manufacturing process of ammonium thiocyanate includes boiling aqueous solution of ammonium cyanide with sulfur or polysulfide, or through the reaction of ammonia and carbon disulfide
- Ammonium thiocyanate is a hazardous substance, according to the U.S. Department of Transportation (DOT) and the Environmental Protection Agency (EPA). Prolonged exposure of ammonium thiocyanate to humans can cause confusion, dizziness, convulsions, anxiety, unconsciousness, and even death. However, it is used widely in chemical manufacturing, photography, and other applications.
Key Drivers and Restraints of Ammonium Thiocyanate Market
- Demand for food and beverages is expected to rise significantly, considering the global population forecast of 2050 that estimates a number of 9.7 Bn individuals. Agronomists around the world are researching on maintaining a balanced food supply to ensure availability of grains and increase in agricultural production at the same time. This has led to use of pesticides, herbicides, and fertilizers for increasing yield. In turn, this is driving the ammonium thiocyanate market.
- Demand for textile printing has increased owing to the rise in demand for customized and personalized garments across the globe, especially in developing countries. Advancements in technologies such as digital textile printing equipment have boosted industrial-scale production of printed clothes. This is driving the ammonium thiocyanate market.
- Fluctuation in prices of raw materials is projected to hamper the global ammonium thiocyanate market during the forecast period
Global Ammonium Thiocyanate Market: Segmentation
- The global ammonium thiocyanate market can be segmented based on form, purity grade, and application
- In terms of form, the global ammonium thiocyanate market can be divided into solid and liquid. The solid segment is expected to expand at a high CAGR during the forecast period, due to larger number of application areas than that for the liquid form of ammonium thiocyanate.
- In terms of purity grade, the global ammonium thiocyanate market can be segregated into less than 95%, 95% to 98%, and higher than 98%. The higher than 98% segment is expected to expand at a high CAGR during the forecast period, due to rise in usage of high purity ammonium thiocyanate in printing applications.
- In terms of application, the global ammonium thiocyanate market can be classified into chemical raw materials, printing, dyeing, and others. The chemical raw materials segment is estimated to expand at a rapid pace during the forecast period.
Global Ammonium Thiocyanate Market: Regional Segmentation
- In terms of region, the global ammonium thiocyanate market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- The market in Asia Pacific is estimated to expand at a significant pace during the forecast period. The market in China and India is anticipated to expand significantly in the next few years owing to the rise in need of pesticides, herbicides, and fertilizers for agricultural crops in the region. Ammonium thiocyanate is extensively used in the manufacture of pesticides, herbicides, and fertilizers.
- Middle East & Africa is expected to be a vital region of the global ammonium thiocyanate market in the near future. Changing consumer preferences in Africa from plain solid clothing to printed clothing is driving the market in the region.
- Europe is a lucrative region of the global ammonium thiocyanate market owing to the rapidly growing fashion industry in France, Italy, the U.K., and Germany. Increase in number of upcoming apparel companies and fashion designers in the region is also boosting the printing and dyeing industry in these countries. In turn, this is propelling the demand for ammonium thiocyanate in Europe.
COVID-19 Impact on Global Ammonium Thiocyanate Market
- The COVID-19 pandemic has adversely affected the global ammonium thiocyanate industry. Manufacturers have suffered closures owing to the lockdown measures implemented by various countries to curb the spread of the disease along with disruption of the supply chain. Thus, demand for ammonium thiocyanate has declined significantly. However, easing of lockdowns offers opportunities for the ammonium thiocyanate market. The market is expected to expand steadily in the long run.
Key Players in Market
The global ammonium thiocyanate market is moderately consolidated. Key players operating in the global ammonium thiocyanate market include:
- Tianshui Chemical
- Liaoyuan Chemical
- Shuangtian Chemical
- East India Chemicals International
- Haihang Group
- YOYO Chemicals
- Reagents Specialty Chemicals
- ProChem, Inc.
- Sae Manufacturing Specialties Corp.
Global Ammonium Thiocyanate Market: Research Scope
Global Ammonium Thiocyanate Market, by Form
Global Ammonium Thiocyanate Market, by Purity Grade
- Less than 95%
- 95% to 98%
- Higher than 98%
Global Ammonium Thiocyanate Market, by Application
- Chemical Raw Materials
Global Ammonium Thiocyanate Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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