Methyl Mercaptan: Introduction
- Methyl mercaptan is an organic compound that naturally exists within the blood, brain, and tissues of living beings including plants, animals, and humans. It can also be found in certain foods such as nuts, cheese, as well as asparagus. Methyl mercaptan is a volatile organic compound known as organosulfur due to its sulfur content. It is also known as methanethiol. Methyl mercaptan is primarily produced by the reaction of hydrogen sulfide with methanol. Methyl mercaptan is largely employed in the production of synthetic methionine as chicken feed supplement.
Key Drivers and Restraints of Global Methyl Mercaptan Market
- The methyl mercaptan market has developed significantly in the recent years. This can be primarily ascribed to the high performance of methyl mercaptan as an intermediate product. Rise in usage of methyl mercaptan in industries such as aerospace, plastic, chemical, and agriculture is expected to propel the methyl mercaptan market during the forecast period.
- Increase in demand for fertilizers is expected to create significant opportunities for the methyl mercaptan market. Methyl mercaptan is an important intermediate in the manufacture of fertilizers and pesticides. This is anticipated to drive the demand for methyl mercaptan during the forecast period.
Methyl Mercaptan: Product Type Segment
- In terms of product type, the global methyl mercaptan market can be segmented into natural and synthetic
- The natural segment is expected to account for significant share of the global methyl mercaptan market during the forecast period
Methyl Mercaptan: Process Segment
- In terms of process, the global methyl mercaptan market can be divided into hydrogen sulfide & methanol synthesis, thiourea & dimethyl sulfate synthesis, and others
- The hydrogen sulfide & methanol synthesis segment is estimated to expand at a rapid pace during the forecast period. It is projected to be followed by the thiourea & dimethyl sulfate synthesis segment.
Methyl Mercaptan: Application Segment
- In terms of application, the global methyl mercaptan market can be segregated into fungicides & pesticides, feedstock, intermediates, fuel additives, catalysts, and others
- The fungicides & pesticides segment is estimated to expand at a rapid pace during the forecast period. It is projected to be followed by the feedstock segment.
- The fuel additives segment is likely to expand at a healthy CAGR during the forecast period, owing to the increase in demand for fuel across the globe
Methyl Mercaptan: End-use Segment
- In terms of end-use, the global methyl mercaptan market can be categorized into agriculture, chemical, food, aerospace, mining, plastic, and others
- The agriculture segment is estimated to expand at a rapid pace during the forecast period. It is projected to be followed by the food segment.
- The aerospace segment is likely to expand at a healthy CAGR during the forecast period, owing to the expansion of the global aviation industry
COVID-19 Impact on Methyl Mercaptan Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacture of various consumer goods and other products across the globe has come to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the methyl mercaptan market.
North America to Dominate Methyl Mercaptan Market
- In terms of region, the global methyl mercaptan market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the methyl mercaptan market in 2020. This trend is anticipated to continue during the forecast period. This can be ascribed to the higher demand of methyl mercaptan for jet fuel, especially in the U.S. The methyl mercaptan market in Asia Pacific is anticipated to expand at a rapid pace owing to the increase in demand for agricultural products in emerging countries such as China and India.
Key Manufacturers Operating in Global Methyl Mercaptan Market
The global methyl mercaptan market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global methyl mercaptan market include:
- Arkema S.A.
- Chevron Phillips Chemical Company LLC
- Wuji Zhongxian
- Evonik Industries
Global Methyl Mercaptan Market: Research Scope
Global Methyl Mercaptan Market, by Product Type
Global Methyl Mercaptan Market, by Process
- Hydrogen Sulfide & Methanol Synthesis
- Thiourea & Dimethyl Sulfate Synthesis
Global Methyl Mercaptan Market, by Application
- Fungicides & Pesticides
- Fuel Additives
Global Methyl Mercaptan Market, by End-use
Global Methyl Mercaptan 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?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.