Analysis of Potential Impact of COVID-19 on Thionyl Chloride Market
Thionyl Chloride Market: Introduction
- Thionyl chloride is a liquid that is colorless, pale yellow, or reddish at ambient temperatures. The compound has low viscosity and a pungent, fuming, sulfur-like odor. Industrial manufacturing processes used for formulation of thionyl chloride include chlorosulfonic acid method, sulfur dioxide gas-phase method, and phosphorus oxychloride cogeneration.
- Thionyl chloride is often used as a chlorinating agent in the manufacture of chemicals used in herbicides, surfactants, drugs, and dyestuffs. In addition, it is employed in the formulation of polyarylate-type engineering thermoplastics and electrolytes in lithium-ion batteries.
- Based on application, the global thionyl chloride market can be segmented into dyes, pesticides, pharmaceutical agents, chemical synthesis, battery, and others. Among these, pesticides is a leading segment of the global market. Its major share is attributable to excellent ability of thionyl chloride to impart chlorinating characteristics to various pesticides. The battery segment is expected to expand at the maximum CAGR during the forecast period, owing to increasing demand for remote monitoring, remote metering, automotive power, backup power, etc.
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Key Drivers of Global Thionyl Chloride Market
- Growing pressure on the agriculture sector to increase the yield-ability of crops is expected to drive the demand for agrochemicals in the near future. Furthermore, growing food consumption across Asia Pacific is expected to boost the demand for pesticides between 2020 and 2030. Thionyl chloride is extensively used as a solvent in the production of pesticides. This, in turn, is expected to drive the thionyl chloride market in the near future.
- Increasing demand for power sources, such as utility devices as well as remote-metering devices, is expected to boost the demand for lithium thionyl chloride batteries in the near future. Thionyl chloride is used as an active cathode material in lithium thionyl chloride batteries. This, in turn, is expected to drive the demand for thionyl chloride in the next few years.
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Battery and Pesticides Segments to Witness Attractive Opportunities
- Thionyl chloride is witnessing high demand in the battery industry for use as a solvent. It is used as an electrolyte in the manufacture of lithium-ion batteries.
- Rising research and development activities and increasing foreign direct investments (FDIs) in the field of batteries, typically in Japan, China, and South Korea, are likely to provide immense opportunities to manufacturers of thionyl chloride in the near future
- Rising demand for processing solvents in the pesticides sector to produce inabenfide, valerate, fenvalerate, mosquito-killing dimerthrin, flucythrinate, diflubenzuron, isocarbophos, fenpropathrin, endosulfan, deltamethrin, and warfarin is expected to provide lucrative opportunities to manufacturers operating in the global thionyl chloride market during the forecast period
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Asia Pacific to Hold a Major Share of Global Thionyl Chloride Market
- Geographically, the global market for thionyl chloride can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is a leading consumer of thionyl chloride, followed by North America and Europe. The region witnesses strong presence of major countries producing agricultural crops such as India, China, and Thailand. Rising demand for pesticides in order to enhance the productivity and yield of crops is expected to drive the demand for thionyl chloride in the next few years.
- Rising FDIs in the automotive industry in developing economies of Asia Pacific is another factor likely to fuel the market in the region during the forecast period
- Rising demand for lithium thionyl chloride batteries used in the production of remote-monitoring devices is likely to propel the thionyl chloride market in North America and Europe during the forecast period. Furthermore, manufacturers in these regions are primarily engaged in new product launches, extensive research and development activities, and strengthening their presence in emerging markets.
- Rising imports of thionyl chloride in Latin America and Middle East & Africa are likely to boost the demand for thionyl chloride in these regions from 2020 to 2030
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Key Players Operating in Global Thionyl Chloride Market
The global thionyl chloride market is highly concentrated, with the top producers accounting for a prominent market share. Some of the key players operating in the global market are:
- Shandong Kaisheng New Materials
- Lanxess AG
- SUMITOMO SEIKA CHEMICALS CO., LTD.
- Jiang Xi Selon Industry
- China Pingmei Shenma Group
- Chuyuan Group
- Shangyu Wolong Chemical
- Sichuan Boxing
- Changzhou Xudong Chemical
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