Global Thiophene Market Size By Source(Coal and plant pigments), By Application(Active Pharmaceuticals Ingredients, Biocide), By Geographic Scope And Forecast
Report ID: 292487|No. of Pages: 220
Global Thiophene Market Size By Source(Coal and plant pigments), By Application(Active Pharmaceuticals Ingredients, Biocide), By Geographic Scope And Forecast
Thiophene Market Size And Forecast
Thiophene Market size was valued at USD 35.07 Million in 2021 and is projected to reach USD 38.28 Million by 2030, growing at a CAGR of 1.17% from 2023 to 2030.
Thiophene is a heterocyclic compound with the formula C4H4S, and it is widely used as a building block in numerous agrochemicals, pharmaceuticals, and materials science industries. Increasing application is driving its demand. The Global Thiophene Market report provides a holistic market evaluation. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that play a substantial role in the market.
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Global Thiophene Market Definition
Thiophene is the simplest sulfur-containing aromatic compound with molecular formula C4H4S and closely resembles benzene in its chemical and physical properties. It ensues with benzene in coal tar, which was first isolated in 1883. Thiophene structures can be found in certain regular items and consolidated in a few pharmacologically active compounds. Its derivatives are used in medical fields for their therapeutic application. Today, thiophene is prepared commercially from butane, butene, sulfur, or sulfur dioxide. Certain thiophene derivatives appear as plant pigments and other natural products. Biotin is a reduced thiophene by-product. The antihistamine methapyrilene (Thenylene) and other specific synthetic pharmaceuticals include the thiophene nucleus, but there are few synthetic thiophene compounds of importance.
Thiophene and its substituted derivatives are an important class of heterocyclic compounds showing interesting medicinal chemistry applications. It has made an indispensable anchor for medicinal chemists to create a combinatorial library and carry out exhaustive efforts in searching for lead molecules. It has been reported to possess many therapeutic properties with diverse applications in medicinal chemistry and material science, attracting great interest in the industry and academia. It has been proven to be a helpful drug in the present disease scenario. They are remarkably effective compounds both concerning their biological and physiological functions, such as anti-inflammatory, anti-psychotic, anti-arrhythmic, anti-anxiety, anti-fungal, antioxidant, estrogen receptor modulating, anti-mitotic, anti-microbial, kinases inhibiting and anti-cancer.
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Global Thiophene Market Overview
The Thiophene market demand is expected to be encouraged owing to its need from the target end-use industries, including the agrochemicals and pharmaceuticals sectors. Thiophene derivatives are used in several medical applications such as forensics, biology, and others for their intermediate chemical properties, driving the growth of the thiophene market.
The agrochemicals market is expected to grow due to the limited fertile land and rising demand for better quality food. Pesticides and insecticides are expected to play an essential role in fulfilling needs at a higher growth rate. Evolution in agrochemicals R&D has resulted in Thiophene derivatives having a high prospect for usage in the preservation of crops from pests and are less harmful to human health and natural resources; such factors contribute to the growing demand for Thiophene as a raw material in agrochemical industries. Also, the market is attaining traction for specific DNA detection for multiple applications in areas such as Biology, medical forensics, and diagnostics. Thiophene is investigated as a substitute for a DNA sensor. Diverse manufacturers are investing in R&D to uncover new applications for Thiophene, which is expected to boost the market over the coming years.
Furthermore, the increasing demand in the personal care industries for better products in every cycle is a vital factor expected to push the market globally for its role in manufacturing biotin and other personal care products. Demand for Thiophene is also likely to gain traction because the chemical is used as a plasticizer in dyes, personal care products, and plastics, thus augmenting the market development. However, the government’s regulations have mandated the production of Thiophene, thereby limiting the growth of the global market. Thiophene is a toxic compound and has a critical impact on living organisms on direct exposure. Besides, crude oil and price fluctuation is expected to impact the market, as the raw material price is projected to dictate the growth or decrease of the thiophene market.
Global Thiophene Market: Segmentation Analysis
The Global Thiophene Market is Segmented on the basis of Source, Application, And Geography.
Thiophene Market, By Source
• Coal
• Plant pigments
Based on Source, the market is split into Coal and plant pigments. The Coal segment dominated the overall industry regarding revenue share in 2021. Thiophene occurs with benzene in coal tar, from which source it was first sequestered. Today, thiophene is prepared commercially from butene, butane, sulfur, or sulfur dioxide. Certain thiophene derivatives appear as plant pigments and other natural products. Biotin is a reduced thiophene derivative.
Thiophene Market, By Application
• Active Pharmaceuticals Ingredients
• Biocide
• Chemical Intermediate
Based on the Application, the market is split into Active Pharmaceuticals Ingredients, Biocide, and Chemical Intermediates. The Active Pharmaceuticals Ingredients segment dominated the industry regarding revenue share in 2021. Thiophene is widely used as a building block in many pharmaceutical fields. Thiophene possesses various biological activities such as analgesic, antimicrobial, anti-inflammatory, anticancer, antioxidant, antiallergic, antihypertensive, and more. In medicine, thiophene derivatives show antimicrobial, analgesic and anti-inflammatory, antitumor activity, and antihypertensive, while they are also used as inhibitors of the corrosion of metals or in the fabrication of light-emitting diodes in material science.
Thiophene Market, By Geography
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Based on regional analysis, the Thiophene Market is classified into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Asia Pacific region is expected to hold a significant stake in the projection period. China is one of the top countries in thiophene owing to rapid end-use industry growth, such as agrochemicals and pharmaceuticals in the region. Personal care industries in the Asia Pacific countries such as South Korea, Japan, India, and China have shown promising growth over the recent years due to the increasing affordability and per capita income. North America and Europe are also expected to hold a substantial market share owing to the high disposable income and considerable awareness.
Key Players
The “Global Thiophene Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as PCAS, SKC, Fisher-Scientific, Hongyuan Pharmaceutical, Dongsheng Chemical, Sincere Chemicals, Yuanli Science and Technology, Jinan Fufang Chemical, and Yifeng Huagong.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Thiophene Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in Global Thiophene Market gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2023-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Million) |
| KEY COMPANIES PROFILED | PCAS, SKC, Fisher-Scientific, Hongyuan Pharmaceutical, Dongsheng Chemical, Sincere Chemicals, Yuanli Science and Technology, Jinan Fufang Chemical, and Yifeng Huagong. |
| SEGMENTS COVERED | By Source, By Application, And By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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Data Collection Matrix
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Industry Analysis Matrix
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