Thionyl Chloride Market Anticipates Strong Global Growth at 4.8% CAGR through 2030

The global thionyl chloride market is anticipated to reach a worth of US$ 688 Million by 2030, according to the most recent analysis from FMI. Many different end-use industries, including agrochemicals, pharmaceuticals, dyes & pigments, and organic synthesis, use thionyl chloride. Thionyl chloride market expansion is anticipated to be fueled by rising pesticide use in emerging nations and advancements in the pharmaceutical sector. In the near future, growing worries over water treatment will probably drive the industry’s growth engine even more.

However, a majority of end users of thionyl chloride are facing a massive slowdown due to the coronavirus (COVID-19) pandemic. This is substantially widening the supply-demand gap, and, as such, straining the revenue pool of the thionyl chloride market. Further, China – the epicenter of the pandemic – is characterized by a strong foothold of thionyl chloride manufacturers. The government has enacted large-scale lockdowns, resulting in short-term manufacturing and logistics paralysis.

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Key Takeaways of Thionyl Chloride Market Study

• Consumption of thionyl chloride would remain prominent in manufacturing pharmaceuticals. Thionyl chloride is used in the production of a wide range of pharmaceutical products, including isocarbophos, indomethacin, vitamin A, sumicidin, propargite, and tetramisole hydrochloride. Further, manufacturers are targeting the agrochemical industry for relevant returns.
• Europe holds a prominent share in global thionyl chloride market; East Asia would reflect worthwhile prospects, owing to the presence of key agrarian countries and subsequent advancements in the pharmaceutical industry.
• Thionyl chloride is also used in the production of lithium thionyl chloride batteries. The adoption of lithium thionyl batteries is increasing, given its benefits such as high voltage, high safety, wide temperature range, low currents, passivation of battery, and its bobbin-like structure.

Key Players Covered in the Thionyl Chloride Market are:

• Lanxess AG
• Transpek Industries Ltd.
• CABB Group
• Sigma Aldrich Co. LLC
• Shandong Kaisheng New Materials Co. Ltd.
• Angene International Limited
• Aurora Fine Chemicals LLC
• Jiangxi Selon Industrial Co. Ltd.
• Merck KGaA
• Hangzhou Trylead Chemical Technology
• Bodal Chemicals Limied

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Thionyl Chloride Market Segmentation

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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