According to latest research by Fact.MR, the global ethyl mercaptan market is set to surpass value of US $ 400.0 Mn by 2031 at a higher single-digit CAGR. Due to its pungent smell, it is highly been utilized in natural gas, chemical processing units and other industries for identifying minute leaks. This will lead to giving a tremendous growth rate to the sale in terms of both volume & value during the forecast period.
Muted demand from end-use industries has bottlenecked the opportunities in Q3 and Q4 of 2020 with growth rate of -4.8% during this year. However, the consumption of ethyl mercaptan in plastic manufacturing industries is likely to provide momentum in next couple of years.
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Some of the leading manufacturers and suppliers of ethyl mercaptan include Chevron Phillips Chemical, Sunland Chemical, parchem, SAE Manufacturing Specialties Corp, M Chemical Company, Inc., Scientific Solutions, LLC, Arnette Polymers LLC, Mallinckrodt, Inc., Shandong Zhi Shang Chemical Co., Ltd, Arkema S.A., N SHASHIKANT & CO., DowDuPont Inc., TCI Chemicals and other prominent companies.
The ethyl mercaptan market is highly fragmented in nature due to presence of large number of manufacturers across the world. To acquire a dominant position, emphasis is laid to inorganic growth strategies like merger, expansion, acquisition, partnership and collaboration of the companies.
Natural gases are odorless and colorless, due to this property it’s very difficult to identify the leakage. The natural gas leakage can cause an accident in residential and industrial areas. The utilization of ethyl mercaptan in natural gas addresses this challenge and also ensures the quality of natural gas.
The expanding industrialization across the globe has observed a convenient consumption of natural gas as a power source since it is cheaper than petrol, diesel and electricity. The consumption of natural gas is attributed to provide numerous growth opportunities to manufacturers.
Ethyl mercaptan is also used extensively in plastic manufacturing, chemical processing units and other industries. Although COVID-19 guidelines have meant restricted manufacturing activities, the sale is likely to improve throughout the assessment period.
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North America is one of the leading consumer of ethyl mercaptan. Especially, U.S. is the prominent manufacture and consumer in this region. Hence, North America is poised to lead the market during the assessment period 2021-2031. Since rapid urbanization and industrialization has witnessed considerable sale from consumers end in historical years.
Consumption for ethyl mercaptan in North America will be led by chemical industries due to its high consumption for the synthesis of specialty chemicals and leaks identification. However the demand in early 2020 was muted due to COVID-19 protocols, but the trend is showing a promising stance for manufacturers in next couple of years.
Asia Pacific region also holds a noteworthy market share. This will led to provide a promising stance to manufacturers to invest in the Asia Pacific region. The demand from the Countries such as India, China, Indonesia, South Korea, Japan and others is likely to surge due to rapid industrialization and urbanization.
The Pharmaceutical sector also accounting for significant sale in Asia Pacific. In addition to this, India has the second-largest gas hydrate reserves. The exploitation of this reserve will consume more ethyl mercaptan for odorization purpose. which is further anticipated to witness a surge in demand during the forecast period.
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