Global Dimethyl Disulfide (DMDS) Market Highlights Over 2017 - 2030
The global dimethyl disulfide (DMDS) market is estimated to garner a revenue of USD 722 Million by the end of 2030, up from a revenue of USD 474 Million in 2017, by growing at a CAGR of 4% over the forecast period, i.e., 2021 – 2030. The growth of the market can be attributed to growing demand for oil and gas worldwide, backed by the rise in consumption and supply of petroleum and other liquids worldwide. According to the statistics by the United States Energy Information Administration (EIA), the supply of petroleum and other liquids around the globe registered 94.17 Million barrels per day in the year 2020, and it is further projected to reach 101.79 Million barrels per day by the end of 2022. Besides this, the consumption registered to 92.30 Million barrels per day in the year 2020, and is further expected to touch 101.25 Million barrels per day by the end of 2022. DMDS is the most commonly used chemical in oil & gas applications for sulfiding hydrotreating and as hydrocracking catalysts. The high sulfur content in DMDS, which is about 68%, and the decomposition temperature range properties of around 360F-460F, makes the chemical ideal for sulfiding process. Moreover, the by-product of DMDS after decomposition is simple methane, which do not cause premature coking of the catalyst bed, unlike the other spiking agents, which are known to cause excessive coking during the sulfiding process.
The global dimethyl disulfide (DMDS) market is also expected to grow on account of the increasing utilization of DMDS in end-use applications, such as, in the agrochemicals and food industry. DMDS is a promising soil fumigant as it does not contaminate ground water or surface water. It is widely used in drip application process in greenhouses owing to its high efficacy in pest control. Further, in the food industry, DMDS is widely used as a food additive in fruit flavors, soups, garlic, onion, and cheese among others.
Global Dimethyl Disulfide (DMDS) Market Regional Synopsis
Regionally, the global dimethyl disulfide (DMDS) market is segmented into Middle East & North Africa (MENA) and the Rest of the World. Amongst these, the market in the Rest of the World is anticipated to hold the largest market revenue of USD 666 Million by the end of 2030, up from USD 439 Million in 2017. The market in MENA, on the other hand, is anticipated to grow with the highest CAGR of 4.7% during the forecast period and also hold the second-leading market share. The market in MENA is further segmented into Middle East and North Africa, out of which, the market in the Middle East held the largest market share, while the market in North Africa is anticipated to grow with the highest CAGR of 5.9% during the forecast period. Amongst the countries in the Middle East, the market in Saudi Arabia garnered the largest market revenue of USD 14.4 Million in 2017 and is further projected to reach USD 22.9 Million by the end of 2030. Alternatively, the market in Qatar is expected to grow with the highest CAGR of 5.9% during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
Growth Drivers and Challenges Impacting the Growth of the Global Dimethyl Disulfide (DMDS) Market
Growth Drivers
- Growing Demand for DMDS from End-Use Industries
- Increasing Production and Consumption of Oil and Gas
Challenges
- Shift in Preference Towards Non-Fuel-based Applications
Global Dimethyl Disulfide (DMDS) Market Segmentation Synopsis
The global dimethyl disulfide (DMDS) market is segmented by end-use into oil & gas, agrochemicals, and food. Amongst these segments, the oil & gas segment is garnered the highest market share of 71.5% in terms of volume in the year 2020. The sector consumed 154KTA of DMDS in the year 2020 and is further projected to grow with a CAGR of 3.3% in terms of volume throughout the forecast period. The growth of the segment can primarily be attributed to the increasing number of oil reserves, especially in the GCC countries, followed by the increasing exports of crude oil and natural gas worldwide. Alternatively, the agrochemicals segment is expected to grow with the highest CAGR of 3.9% in terms of volume during the forecast period.
Key Companies Dominating the Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global dimethyl disulfide (DMDS) market that are included in our report are Arkema, Chevron Phillips Chemical Company LLC, Xinjiang Guanghui Luyou Chemical Co., Ltd., Langfang Hawk Technology & Development Co., Ltd., Shinya Chem, IRO Group Inc., Hefei TNJ Chemical Industry Co., Ltd., and others.
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