Thiophenol Market Insights 2025, Analysis and Forecast to 2030, by Manufacturers, Regions, Technology, Application
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Introduction
Thiophenol, also known as benzenethiol, is an organosulfur compound valued for its strong nucleophilic properties and distinctive odor, used as a chemical intermediate in pharmaceuticals and agrochemicals. The industry is characterized by its focus on high-purity thiophenol for precision synthesis, with applications in drug development and crop protection. Key trends include sustainable production methods, low-impurity formulations, and integration with advanced chemical processes. The market is driven by growth in pharmaceutical R&D, demand for effective pesticides, and advancements in sulfur chemistry.
Market Size and Growth Forecast
The global Thiophenol market was valued at USD 25.8–43.9 million in 2024, with an estimated CAGR of 4.5%–6.5% from 2025 to 2030, driven by demand for pharmaceuticals and agrochemicals.
Regional Analysis
North America is projected to grow at a CAGR of 4.3%–6.3%, with the U.S. leading due to its pharmaceutical sector, focusing on high-purity thiophenol for drug synthesis.
Europe is expected to achieve a CAGR of 4.0%–6.0%, with Germany driving demand, emphasizing sustainable intermediates for agrochemicals.
Asia Pacific is anticipated to record the highest growth at 5.0%–7.0%, driven by China and India, where pharmaceutical and pesticide industries fuel demand, with trends toward cost-effective production.
Rest of the World, particularly Brazil, is expected to grow at 3.8%–5.8%, with trends toward agricultural chemical applications.
Application Analysis
Pharmaceuticals applications are estimated to grow at a CAGR of 4.8%–6.8%, driven by thiophenol’s use in API synthesis, with trends favoring complex drug molecules.
Agricultural chemicals applications are projected to expand at 4.5%–6.5%, supported by its role in pesticide production, with innovations in eco-friendly formulations.
Other applications, including dyes and polymers, are anticipated to grow at 4.0%–6.0%, focusing on specialty intermediates.
Key Market Players
Sumitomo Seika, based in Osaka, Japan, is a leader in thiophenol production, offering high-purity solutions for pharmaceuticals, known for its advanced synthesis technologies.
Zhejiang Yangfan New Materials Co. Ltd, headquartered in Zhejiang, China, specializes in thiophenol for agrochemicals, emphasizing cost-competitive and sustainable production.
Porter’s Five Forces Analysis
● The threat of new entrants is low; high R&D costs and regulatory requirements for thiophenol production create significant barriers.
● The threat of substitutes is moderate; alternative sulfur compounds compete, but thiophenol’s unique properties maintain its edge in pharmaceuticals.
● Buyer power is moderate; pharmaceutical firms negotiate pricing, but thiophenol’s specialized uses limit buyer leverage.
● Supplier power is low; raw materials like benzene are widely available, reducing supplier influence.
● Competitive rivalry is high; key players differentiate through high-purity formulations and sustainable innovations.
Market Opportunities and Challenges
Opportunities
● Rising demand for complex pharmaceuticals drives thiophenol adoption in API synthesis.
● Advancements in eco-friendly pesticides enhance market growth.
● Emerging markets in Asia Pacific offer expansion opportunities due to industrial growth.
Challenges
● Regulatory scrutiny on sulfur compounds increases compliance costs.
● High production costs limit thiophenol adoption in cost-sensitive applications.
● Environmental concerns over chemical disposal hinder market scalability.
Growth Trend Analysis
The Thiophenol market is growing steadily, driven by demand for pharmaceuticals and agrochemicals. In 2024, Zhejiang Yangfan New Materials Co. Ltd maintained a thiophenol capacity of 2,000 tons, supporting pesticide and drug synthesis. This development aligns with a projected CAGR of 4.5%–6.5% through 2030, reflecting thiophenol’s critical role in specialty chemicals.
Chapter 1 Executive Summary
Chapter 2 Abbreviation and Acronyms
Chapter 3 Preface
3.1 Research Scope
3.2 Research Sources
3.2.1 Data Sources
3.2.2 Assumptions
3.3 Research Method
Chapter 4 Market Landscape
4.1 Market Overview
4.2 Classification/Types
4.3 Application/End Users
Chapter 5 Market Trend Analysis
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Threats
Chapter 6 Industry Chain Analysis
6.1 Upstream/Suppliers Analysis
6.2 Thiophenol Analysis
6.2.1 Technology Analysis
6.2.2 Cost Analysis
6.2.3 Market Channel Analysis
6.3 Downstream Buyers/End Users
Chapter 7 Latest Market Dynamics
7.1 Latest News
7.2 Merger and Acquisition
7.3 Planned/Future Project
7.4 Policy Dynamics
Chapter 8 Trading Analysis
8.1 Export of Thiophenol by Region
8.2 Import of Thiophenol by Region
8.3 Balance of Trade
Chapter 9 Historical and Forecast Thiophenol Market in North America (2020-2030)
9.1 Thiophenol Market Size
9.2 Thiophenol Demand by End Use
9.3 Competition by Players/Suppliers
9.4 Type Segmentation and Price
9.5 Key Countries Analysis
9.5.1 United States
9.5.2 Canada
9.5.3 Mexico
Chapter 10 Historical and Forecast Thiophenol Market in South America (2020-2030)
10.1 Thiophenol Market Size
10.2 Thiophenol Demand by End Use
10.3 Competition by Players/Suppliers
10.4 Type Segmentation and Price
10.5 Key Countries Analysis
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Chile
10.5.4 Peru
Chapter 11 Historical and Forecast Thiophenol Market in Asia & Pacific (2020-2030)
11.1 Thiophenol Market Size
11.2 Thiophenol Demand by End Use
11.3 Competition by Players/Suppliers
11.4 Type Segmentation and Price
11.5 Key Countries Analysis
11.5.1 China
11.5.2 India
11.5.3 Japan
11.5.4 South Korea
11.5.5 Asean
11.5.6 Australia
Chapter 12 Historical and Forecast Thiophenol Market in Europe (2020-2030)
12.1 Thiophenol Market Size
12.2 Thiophenol Demand by End Use
12.3 Competition by Players/Suppliers
12.4 Type Segmentation and Price
12.5 Key Countries Analysis
12.5.1 Germany
12.5.2 France
12.5.3 United Kingdom
12.5.4 Italy
12.5.5 Spain
12.5.6 Belgium
12.5.7 Netherlands
12.5.8 Austria
12.5.9 Poland
12.5.10 Russia
Chapter 13 Historical and Forecast Thiophenol Market in MEA (2020-2030)
13.1 Thiophenol Market Size
13.2 Thiophenol Demand by End Use
13.3 Competition by Players/Suppliers
13.4 Type Segmentation and Price
13.5 Key Countries Analysis
13.5.1 Egypt
13.5.2 Israel
13.5.3 South Africa
13.5.4 Gulf Cooperation Council Countries
13.5.5 Turkey
Chapter 14 Summary For Global Thiophenol Market (2020-2030)
14.1 Thiophenol Market Size
14.2 Thiophenol Demand by End Use
14.3 Competition by Players/Suppliers
14.4 Type Segmentation and Price
Chapter 15 Global Thiophenol Market Forecast (2021-2026)
15.1 Thiophenol Market Size Forecast
15.2 Thiophenol Demand Forecast
15.3 Competition by Players/Suppliers
15.4 Type Segmentation and Price Forecast
Chapter 16 Analysis of Global Key Vendors
15.1 Sumitomo Seika
15.1.1 Company Profile
15.1.2 Main Business and Thiophenol Information
15.1.3 SWOT Analysis of Sumitomo Seika
15.1.4 Sumitomo Seika Thiophenol Sales, Revenue, Price and Gross Margin (2020-2025)
15.2 Zhejiang Yangfan New Materials Co. Ltd
15.2.1 Company Profile
15.2.2 Main Business and Thiophenol Information
15.2.3 SWOT Analysis of Zhejiang Yangfan New Materials Co. Ltd
15.2.4 Zhejiang Yangfan New Materials Co. Ltd Thiophenol Sales, Revenue, Price and Gross Margin (2020-2025)
Please ask for sample pages for full companies list
Table Research Scope Of Thiophenol Report
Table Data Sources Of Thiophenol Report
Table Major Assumptions Of Thiophenol Report
Table Thiophenol Classification
Table Thiophenol Applications List
Table Drivers Of Thiophenol Market
Table Restraints Of Thiophenol Market
Table Opportunities Of Thiophenol Market
Table Threats Of Thiophenol Market
Table Raw Materials Suppliers List
Table Different Production Methods Of Thiophenol
Table Cost Structure Analysis Of Thiophenol
Table Key End Users List
Table Latest News Of Thiophenol Market
Table Merger And Acquisition List
Table Planned/Future Project Of Thiophenol Market
Table Policy Of Thiophenol Market
Table 2020-2030 Regional Export Of Thiophenol
Table 2020-2030 Regional Import Of Thiophenol
Table 2020-2030 Regional Trade Balance
Table 2020-2030 North America Thiophenol Market Size And Market Volume List
Table 2020-2030 North America Thiophenol Demand List By Application
Table 2020-2025 North America Thiophenol Key Players Sales List
Table 2020-2025 North America Thiophenol Key Players Market Share List
Table 2020-2030 North America Thiophenol Demand List By Type
Table 2020-2025 North America Thiophenol Price List By Type
Table 2020-2030 United States Thiophenol Market Size And Market Volume List
Table 2020-2030 United States Thiophenol Import & Export List
Table 2020-2030 Canada Thiophenol Market Size And Market Volume List
Table 2020-2030 Canada Thiophenol Import & Export List
Table 2020-2030 Mexico Thiophenol Market Size And Market Volume List
Table 2020-2030 Mexico Thiophenol Import & Export List
Table 2020-2030 South America Thiophenol Market Size And Market Volume List
Table 2020-2030 South America Thiophenol Demand List By Application
Table 2020-2025 South America Thiophenol Key Players Sales List
Table 2020-2025 South America Thiophenol Key Players Market Share List
Table 2020-2030 South America Thiophenol Demand List By Type
Table 2020-2025 South America Thiophenol Price List By Type
Table 2020-2030 Brazil Thiophenol Market Size And Market Volume List
Table 2020-2030 Brazil Thiophenol Import & Export List
Table 2020-2030 Argentina Thiophenol Market Size And Market Volume List
Table 2020-2030 Argentina Thiophenol Import & Export List
Table 2020-2030 Chile Thiophenol Market Size And Market Volume List
Table 2020-2030 Chile Thiophenol Import & Export List
Table 2020-2030 Peru Thiophenol Market Size And Market Volume List
Table 2020-2030 Peru Thiophenol Import & Export List
Table 2020-2030 Asia & Pacific Thiophenol Market Size And Market Volume List
Table 2020-2030 Asia & Pacific Thiophenol Demand List By Application
Table 2020-2025 Asia & Pacific Thiophenol Key Players Sales List
Table 2020-2025 Asia & Pacific Thiophenol Key Players Market Share List
Table 2020-2030 Asia & Pacific Thiophenol Demand List By Type
Table 2020-2025 Asia & Pacific Thiophenol Price List By Type
Table 2020-2030 China Thiophenol Market Size And Market Volume List
Table 2020-2030 China Thiophenol Import & Export List
Table 2020-2030 India Thiophenol Market Size And Market Volume List
Table 2020-2030 India Thiophenol Import & Export List
Table 2020-2030 Japan Thiophenol Market Size And Market Volume List
Table 2020-2030 Japan Thiophenol Import & Export List
Table 2020-2030 South Korea Thiophenol Market Size And Market Volume List
Table 2020-2030 South Korea Thiophenol Import & Export List
Table 2020-2030 Southeast Asia Thiophenol Market Size List
Table 2020-2030 Southeast Asia Thiophenol Market Volume List
Table 2020-2030 Southeast Asia Thiophenol Import List
Table 2020-2030 Southeast Asia Thiophenol Export List
Table 2020-2030 Australia Thiophenol Market Size And Market Volume List
Table 2020-2030 Australia Thiophenol Import & Export List
Table 2020-2030 Europe Thiophenol Market Size And Market Volume List
Table 2020-2030 Europe Thiophenol Demand List By Application
Table 2020-2025 Europe Thiophenol Key Players Sales List
Table 2020-2025 Europe Thiophenol Key Players Market Share List
Table 2020-2030 Europe Thiophenol Demand List By Type
Table 2020-2025 Europe Thiophenol Price List By Type
Table 2020-2030 Germany Thiophenol Market Size And Market Volume List
Table 2020-2030 Germany Thiophenol Import & Export List
Table 2020-2030 France Thiophenol Market Size And Market Volume List
Table 2020-2030 France Thiophenol Import & Export List
Table 2020-2030 United Kingdom Thiophenol Market Size And Market Volume List
Table 2020-2030 United Kingdom Thiophenol Import & Export List
Table 2020-2030 Italy Thiophenol Market Size And Market Volume List
Table 2020-2030 Italy Thiophenol Import & Export List
Table 2020-2030 Spain Thiophenol Market Size And Market Volume List
Table 2020-2030 Spain Thiophenol Import & Export List
Table 2020-2030 Belgium Thiophenol Market Size And Market Volume List
Table 2020-2030 Belgium Thiophenol Import & Export List
Table 2020-2030 Netherlands Thiophenol Market Size And Market Volume List
Table 2020-2030 Netherlands Thiophenol Import & Export List
Table 2020-2030 Austria Thiophenol Market Size And Market Volume List
Table 2020-2030 Austria Thiophenol Import & Export List
Table 2020-2030 Poland Thiophenol Market Size And Market Volume List
Table 2020-2030 Poland Thiophenol Import & Export List
Table 2020-2030 Russia Thiophenol Market Size And Market Volume List
Table 2020-2030 Russia Thiophenol Import & Export List
Table 2020-2030 Mea Thiophenol Market Size And Market Volume List
Table 2020-2030 Mea Thiophenol Demand List By Application
Table 2020-2025 Mea Thiophenol Key Players Sales List
Table 2020-2025 Mea Thiophenol Key Players Market Share List
Table 2020-2030 Mea Thiophenol Demand List By Type
Table 2020-2025 Mea Thiophenol Price List By Type
Table 2020-2030 Egypt Thiophenol Market Size And Market Volume List
Table 2020-2030 Egypt Thiophenol Import & Export List
Table 2020-2030 Israel Thiophenol Market Size And Market Volume List
Table 2020-2030 Israel Thiophenol Import & Export List
Table 2020-2030 South Africa Thiophenol Market Size And Market Volume List
Table 2020-2030 South Africa Thiophenol Import & Export List
Table 2020-2030 Gulf Cooperation Council Countries Thiophenol Market Size And Market Volume List
Table 2020-2030 Gulf Cooperation Council Countries Thiophenol Import & Export List
Table 2020-2030 Turkey Thiophenol Market Size And Market Volume List
Table 2020-2030 Turkey Thiophenol Import & Export List
Table 2020-2025 Global Thiophenol Market Size List By Region
Table 2020-2025 Global Thiophenol Market Size Share List By Region
Table 2020-2025 Global Thiophenol Market Volume List By Region
Table 2020-2025 Global Thiophenol Market Volume Share List By Region
Table 2020-2025 Global Thiophenol Demand List By Application
Table 2020-2025 Global Thiophenol Demand Market Share List By Application
Table 2020-2025 Global Thiophenol Capacity List
Table 2020-2025 Global Thiophenol Key Vendors Capacity Share List
Table 2020-2025 Global Thiophenol Key Vendors Production List
Table 2020-2025 Global Thiophenol Key Vendors Production Share List
Table 2020-2025 Global Thiophenol Key Vendors Production Value List
Table 2020-2025 Global Thiophenol Key Vendors Production Value Share List
Table 2020-2025 Global Thiophenol Demand List By Type
Table 2020-2025 Global Thiophenol Demand Market Share List By Type
Table 2020-2025 Regional Thiophenol Price List
Table 2025-2030 Global Thiophenol Market Size List By Region
Table 2025-2030 Global Thiophenol Market Size Share List By Region
Table 2025-2030 Global Thiophenol Market Volume List By Region
Table 2025-2030 Global Thiophenol Market Volume Share List By Region
Table 2025-2030 Global Thiophenol Demand List By Application
Table 2025-2030 Global Thiophenol Demand Market Share List By Application
Table 2025-2030 Global Thiophenol Capacity List
Table 2025-2030 Global Thiophenol Key Vendors Capacity Share List
Table 2025-2030 Global Thiophenol Key Vendors Production List
Table 2025-2030 Global Thiophenol Key Vendors Production Share List
Table 2025-2030 Global Thiophenol Key Vendors Production Value List
Table 2025-2030 Global Thiophenol Key Vendors Production Value Share List
Table 2025-2030 Global Thiophenol Demand List By Type
Table 2025-2030 Global Thiophenol Demand Market Share List By Type
Table 2025-2030 Thiophenol Regional Price List
Figure Market Size Estimated Method
Figure Major Forecasting Factors
Figure Thiophenol Picture
Figure 2020-2030 Regional Trade Balance
Figure 2020-2030 North America Thiophenol Market Size And Cagr
Figure 2020-2030 North America Thiophenol Market Volume And Cagr
Figure 2020-2030 South America Thiophenol Market Size And Cagr
Figure 2020-2030 South America Thiophenol Market Volume And Cagr
Figure 2020-2030 Asia & Pacific Thiophenol Market Size And Cagr
Figure 2020-2030 Asia & Pacific Thiophenol Market Volume And Cagr
Figure 2020-2030 Europe Thiophenol Market Size And Cagr
Figure 2020-2030 Europe Thiophenol Market Volume And Cagr
Figure 2020-2030 Mea Thiophenol Market Size And Cagr
Figure 2020-2030 Mea Thiophenol Market Volume And Cagr
Figure 2020-2025 Global Thiophenol Capacity Production And Growth Rate
Figure 2020-2025 Global Thiophenol Production Value And Growth Rate
Figure 2025-2030 Global Thiophenol Capacity Production And Growth Rate
Figure 2025-2030 Global Thiophenol Production Value And Growth Rate
Research Methodology
- Market Estimated Methodology:
Bottom-up & top-down approach, supply & demand approach are the most important method which is used by HDIN Research to estimate the market size.
1)Top-down & Bottom-up Approach
Top-down approach uses a general market size figure and determines the percentage that the objective market represents.
Bottom-up approach size the objective market by collecting the sub-segment information.
2)Supply & Demand Approach
Supply approach is based on assessments of the size of each competitor supplying the objective market.
Demand approach combine end-user data within a market to estimate the objective market size. It is sometimes referred to as bottom-up approach.
- Forecasting Methodology
- Numerous factors impacting the market trend are considered for forecast model:
- New technology and application in the future;
- New project planned/under contraction;
- Global and regional underlying economic growth;
- Threatens of substitute products;
- Industry expert opinion;
- Policy and Society implication.
- Analysis Tools
1)PEST Analysis
PEST Analysis is a simple and widely used tool that helps our client analyze the Political, Economic, Socio-Cultural, and Technological changes in their business environment.
- Benefits of a PEST analysis:
- It helps you to spot business opportunities, and it gives you advanced warning of significant threats.
- It reveals the direction of change within your business environment. This helps you shape what you’re doing, so that you work with change, rather than against it.
- It helps you avoid starting projects that are likely to fail, for reasons beyond your control.
- It can help you break free of unconscious assumptions when you enter a new country, region, or market; because it helps you develop an objective view of this new environment.
2)Porter’s Five Force Model Analysis
The Porter’s Five Force Model is a tool that can be used to analyze the opportunities and overall competitive advantage. The five forces that can assist in determining the competitive intensity and potential attractiveness within a specific area.
- Threat of New Entrants: Profitable industries that yield high returns will attract new firms.
- Threat of Substitutes: A substitute product uses a different technology to try to solve the same economic need.
- Bargaining Power of Customers: the ability of customers to put the firm under pressure, which also affects the customer's sensitivity to price changes.
- Bargaining Power of Suppliers: Suppliers of raw materials, components, labor, and services (such as expertise) to the firm can be a source of power over the firm when there are few substitutes.
- Competitive Rivalry: For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry.
3)Value Chain Analysis
Value chain analysis is a tool to identify activities, within and around the firm and relating these activities to an assessment of competitive strength. Value chain can be analyzed by primary activities and supportive activities. Primary activities include: inbound logistics, operations, outbound logistics, marketing & sales, service. Support activities include: technology development, human resource management, management, finance, legal, planning.
4)SWOT Analysis
SWOT analysis is a tool used to evaluate a company's competitive position by identifying its strengths, weaknesses, opportunities and threats. The strengths and weakness is the inner factor; the opportunities and threats are the external factor. By analyzing the inner and external factors, the analysis can provide the detail information of the position of a player and the characteristics of the industry.
- Strengths describe what the player excels at and separates it from the competition
- Weaknesses stop the player from performing at its optimum level.
- Opportunities refer to favorable external factors that the player can use to give it a competitive advantage.
- Threats refer to factors that have the potential to harm the player.
- Data Sources
Primary Sources | Secondary Sources |
---|---|
Face to face/Phone Interviews with market participants, such as: Manufactures; Distributors; End-users; Experts. Online Survey |
Government/International Organization Data: Annual Report/Presentation/Fact Book Internet Source Information Industry Association Data Free/Purchased Database Market Research Report Book/Journal/News |