Future Market Insights
Global Thiourea Market: Introduction
Thiourea also known as thiocarbamide, a reagent in organic synthesis and finds application in the food, pharmaceutical, and agricultural sectors. The thiourea is a white crystalline solid and is soluble in water and insoluble in non-polar solvents. It has a bitter taste and reacts with the organic salt and metals. This compound boosts the crop productivity and also helps in understanding the redox regulatory mechanisms in the plants. Thiourea is similar to urea except that the oxygen atom is replaced by the sulfur atom. Thiourea exhibits many chemical properties of urea but it has very less commercial applications. Thiourea, when heated to 130°C, can change to ammonium thiocyanate and after cooling the ammonium salt converts back to thiourea. Thiourea is majorly used in ore leaching, which includes silver and gold extraction from minerals. The different applications of thiourea include as a raw material in resin and paints industries as well as a medicine intermediate. Thiourea also acts as an isomerization catalyst for the conversion of maleic to fumaric acid. Thiourea is not recommended to be used in foods. Thiourea is toxic and heavy exposure to compound might cause hazards to the human health.
Global Thiourea Market: Dynamics
In this highly dynamic environment, the industry has started understanding the benefits of analytics. The thiourea market is expected to gain pace as developing nations improve their economies, the market has seen several important developments in the past few years, owing to its wide area of applications. A large number of manufacturers follow a trend and are focused towards offering innovative products to enhance their market share.
The thiourea market is expected to show a lot of new prospects and market potential for their wide area of applications in the engineering sector in the production of flame retardant resins, vulcanization rubbers, and light sensitivity photocopy paper, silver genetic photographic prints among others, which in turn drives the global thiourea market in the forecast period. In addition, the increasing demand for silver and gold has boosted the mining industry thereby, driving the thiourea market.
Agriculture is likely to remain the major sector for the growth of thiourea market. While the pharmaceutical segment is expected to show substantial growth during the forecast period. The increase in investments in the growing agriculture and pharmaceutical industries creates opportunities for the global thiourea market. However, toxicity related to thiourea has hampered the consumption of thiourea in the market which might act as a restraining factor for the growth of the thiourea market globally.
Global Thiourea Market: Segmentation
By application, the global thiourea market can be segmented into:
Global Thiourea Market: Region-wise Outlook
In regards to region, the thiourea market is led by Asia-Pacific owing to the flourishing agricultural industry. Asia-Pacific is likely to dominate the thiourea market along with the strong government focus on the increasing productivity of crops. The increase in investments of the research and development activities in China and India, in order to manufacture various drugs, is projected to boost the demand for the thiourea market in the region. In the U.S., the presence of the strong pharmaceutical companies and the growth in paper production are factors expected to drive the North America market during the forecast period. Russia contributes majorly to Eurasia for gold production, therefore with increasing gold production and consumption the thiourea market will see significant opportunities in Europe.
Global Thiourea Market: Key Players
Examples of some of the key players identified across the value chain of the global thiourea market are: Sanshin Chemical Industry Co., Ltd, Hebei Xinji Chemical Group Co., Ltd, Tianjin Ruister International Co., Ltd, Zhejiang Rayfull Chemicals Co.,Ltd, Shandong Affirm Biochemistry And Environmental Protection Co.,Ltd, Guizhou Hongkai Chemical Co., Ltd, Hongye Chemical Co., Ltd, Shandong Tianfeng Biotechnology Co.,Ltd, Acuro Organics Limited, Emco Dyestuff Ltd.
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