October 15, 2019 by Amanpreet
According to Fact.MR study, the polythiols market is witnessing passive growth owing to the limited number of active players in the industry and the availability of better alternatives. The polythiols market is led by two key players Arkema SA and Toray Industries Inc., and they collectively command nearly. Other market players, including BRUNO BOCK Chemische Fabrik GmbH & Co. KG and Chevron Phillips Chemical Co., LP collectively hold nearly 30% to 35% share, whereas unorganized and small players account for the rest of miniscule share.
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As industry players stare at an uncertain future, tilting more toward bearish rather than bullish, Production expansion is another significant strategy of market goliaths, who envision higher adoption and better valuation of polythiols in near future. For instance, Arkema, one of the leaders in the global specialty chemicals, recently expanded its chemicals global manufacturing capacity for linear mercaptans due to the growing demand of polymers for transportation and electronics market. Another market forerunner, Toray Industries, Inc. is investing considerably in the R&D that creates avenues for new products. For instance, Toray is building a R&D center in Seoul to identify novel growth engines in company’s efforts to reinforce its presence in the Korean market.Unique strategies based on innovation, an increased presence in emerging markets, and targeted acquisitions remain the key strategies of the leading stakeholders in the polythiols market.
Key Challenges Faced by Stakeholders in Polythiols Market
Future Outlook – Leveraging Opportunities Amidst Waning Demand
Although polythiols are being quickly replaced by more feasible alternatives, they still witness sizeable demand in the construction and defense sectors. Instead of a plethora of opportunities, market players have to contend with a status-quo that is changing for the worse. However, pockets of growth continue to sustain –demand for highly effective modifiers is triggering sales of aliphatic polythiols. These aliphatic polythiols are being used in combination with other curatives, such as amines and polyamines, to develop modifiers for epoxy systems that enable faster curing.
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The resurgency in infrastructure investment has led to growing demand for a range of materials. This period of ascendancy has also rubbed off on polythiols demand, as their excellent chemical and weather resistance properties, coupled with high impermeability, and good heat insulation attributes aren’t lost on end-users.
Key Trend - Rising Adoption of DMDO for Polythiols Production
Leading manufacturers in polythiols market, such as Arkema SA are increasingly adopting 1,8-Dimercapto-3,6-dioxaoctane (DMDO) for the production of polythiols, owing to its double SH-functionality that enables formation of new generation compounds with enhanced properties. Furthermore, DMDO leads to the production of new polythiols without ester groups that demonstrate better water resistance as compared to PETMP (PentaErythritolTetraMercaptoPropionate). In view of manufacturers growing initiatives, it is highly likely that the market will witness novel trends and developments that will further shape the market growth in the forthcoming years.
Polythiols Market - Research Methodology
A realistic methodology along with a holistic approach makes the base of the actionable insights covered in the global polythiols market. The Fact.MR report offers comprehensive information related to the growth prospects of polythiols industry and intriguing insights into the forecast analysis of the market.
Extensive primary and secondary research has been done to compile valuable insights into the projection analysis of polythiols market. The report on polythiols market has also undergone cross-validation to ensure the delivery of authentic information to the readers.
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