What is Global Benzenethiol (CAS 108-98-5) Market?
The Global Benzenethiol (CAS 108-98-5) Market is a specialized and in-depth study of the chemical industry with a special focus on the global market trend analysis. Benzenethiol, also known as thiophenol, is a type of organosulfur compound with the formula C6H5SH. It is an important industrial chemical, used as a building block to synthesize other compounds. The global market for Benzenethiol is expected to grow at a significant pace in the coming years, driven by its increasing usage in various industries such as pharmaceuticals, pesticides, and photoinitiators. However, the market is also facing certain challenges such as stringent environmental regulations and health hazards associated with the handling and usage of Benzenethiol. Despite these challenges, the market is expected to offer lucrative opportunities for the key players during the forecast period.
Purity 98%-99%, Purity>99% in the Global Benzenethiol (CAS 108-98-5) Market:
The Global Benzenethiol (CAS 108-98-5) Market is segmented based on purity into two categories: Purity 98%-99% and Purity>99%. The Purity 98%-99% segment is expected to hold a significant share of the market due to its extensive usage in various applications. On the other hand, the Purity>99% segment is anticipated to witness robust growth during the forecast period, driven by its increasing demand in high-end applications. The market dynamics for both these segments are influenced by various factors such as technological advancements, changing consumer preferences, and evolving industry standards.
Pharmaceutical, Pesticide, Photoinitiator in the Global Benzenethiol (CAS 108-98-5) Market:
The usage of Benzenethiol in the pharmaceutical industry is significant. It is used as a building block in the synthesis of various pharmaceutical compounds. In the pesticide industry, Benzenethiol is used as an intermediate in the production of certain pesticides. The photoinitiator industry also utilizes Benzenethiol in the production of photoinitiators, which are substances that promote photo-polymerization. The demand for Benzenethiol in these industries is expected to increase during the forecast period, driven by the growing global population and the consequent increase in the demand for pharmaceuticals, pesticides, and photoinitiators.
Global Benzenethiol (CAS 108-98-5) Market Outlook:
The global Benzenethiol (CAS 108-98-5) market outlook highlights that the market was valued at US$ 23 million in 2022. It is projected to reach a value of US$ 36 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period from 2023 to 2029. Japan held the largest market share, accounting for about 42.3% of the global consumption of Benzenethiol in 2019. This indicates the significant demand for Benzenethiol in Japan, driven by its extensive usage in various industries. The market in other regions is also expected to witness significant growth during the forecast period, driven by the increasing demand for Benzenethiol in various applications.
| Report Metric | Details |
| Report Name | Benzenethiol (CAS 108-98-5) Market |
| Accounted market size in 2022 | US$ 23 in million |
| Forecasted market size in 2029 | US$ 36 million |
| CAGR | 6.4% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Sumitomo Seika, Zhejiang Yangfan New Materials, Nandadeep Chemicals |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
