Expanding at a CAGR of 4%, the global polyphenols market is projected to increase from a value of US$ 243.3 million in 2023 to US$ 360.20 million by 2033-end. Polythiols are a class of chemical compounds characterized by the presence of multiple thiol (sulfhydryl) groups in their molecular structure. They are also called poly mercaptans or multifunctional mercaptans. Thiol groups are functional groups composed of a sulfur atom bonded to a hydrogen atom, and they are often denoted by the ‘-SH’ chemical formula.
Polythiols are used as cross-linking agents in the production of polymers and coatings. They can react with other compounds, such as polyurethanes and epoxides, to form a network structure, which enhances the strength and durability of the final product. In the electronics industry, polythiols are used in the manufacturing of encapsulants and adhesives for electronic components due to their excellent electrical insulating properties. Polythiols cross-linking capability is increasing their use in the production of medical adhesives and coatings, adhesives and sealants for vehicle assembly, and concrete additives and waterproofing coatings in construction.
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Market Players: –
- BASF SE
- Bruno Bock Chemische Fabrik GmbH & Co. KG
- Seidler Chemical Co., Inc.
- Toray Industries, Inc.
- Arkema Group
- ITW Polymers Sealants North America
- Merck KGaA,
- AkzoNobel
- Hevron Phillips Chemicals
Competitive Landscape
Leading polythiols companies are investing in R&D activities to develop innovative formulations and applications. This allows them to offer advanced and tailored polythiol products that meet the specific requirements of diverse end-use industries.
They are also expanding their global footprint through mergers, acquisitions, and partnerships. This strategy is helping them to access new markets, increase distribution networks, and strengthen their position as international leaders.
- Evonik Industries AG is focusing on the development of low-VOC polythiols to address environmental concerns. Its polythiol sealing compounds with enhanced durability are finding applications in various end-use sectors.
Key Segments Covered in Polythiols Industry Research
- By Source :
- Synthetic Polythiols
- Natural Polythiols
- By Application :
- Adhesives
- Sealants
- Coatings
- By End-use Industry :
- Automotive and Transportation
- Consumer Goods
- Building and Construction
- Electronics and Electrical
- Aerospace
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)