Methyl Mercaptan Market size is expected to reach USD 4 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of methyl mercaptan was USD 2 Billion. The reason behind the growth is impelled by the growing demand for food across the globe. Food demand is predicted to increase significantly by 2050 owing to global population growth, economic expansion, and rising incomes in developing nations. For instance, it is estimated that the amount of food consumed will be more than 10,090 million tons in 2030 and over 14,880 million tons in 2050.
The growing demand for methionine is believed to fuel the methyl mercaptan market growth. Methionine is frequently utilized in food, and feed to boost the growth and productivity of animals and enhance the nutrient value of food.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~6% |
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Base Year Market Size (2023) |
~ USD 2 Billion |
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Forecast Year Market Size (2036) |
~ USD 4 Billion |
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Regional Scope |
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Application (Fungicides and Pesticides, Intermediate, Catalyst, Fuel Additives, Animal Nutrition)
The fungicides and pesticides segment is predicted to account for 35% share of the global methyl mercaptan market by 2036. owing to the growing usage of pesticides. Pesticides are essential to agricultural output since they help manage a variety of pests and disease-carrying animals, including rats, mice, ticks, and mosquitoes, and manage illnesses, infestations of insects, and weeds. Around the world, pesticides are frequently used to promote plant growth and are also used to shield farmers from crop losses and decreased yields. Besides this, pesticides known as fungicides are used to restrict the growth of fungus or fungal spores to control fungal and fungal-like disorders, and play a part in keeping fruits, vegetables, and tubers safe during storage. This is expected to drive the demand for methyl mercaptan.
Methyl mercaptan is a gas that is used in the creation of pesticides, and the synthesis of fungicides, and insecticides. Methyl mercaptan is also used to make methionine a chemical that is used in animal feed, and is designed to be used in irrigation/chemigation lines (subterranean, surface drip, and micro irrigation systems) as a gopher repellant.
End-User (Chemical, Food, Feed, Mining)
The feed segment in the methyl mercaptan market is set to garner a notable share shortly. Methionine is primarily made from methyl mercaptan and is added to animal and poultry feed as a dietary supplement, and is an inherent component of several foods, such as cheeses and nuts, and is authorized for use as a food additive as well. In addition, available commercial chemical, methyl mercaptan has well-established uses in the mining sector and is employed in mining operations for communication as well.
Our in-depth analysis of the global methyl mercaptan market includes the following segments:
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Source |
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Synthesis |
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Application |
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End-User |
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North American Market Forecast
The methyl mercaptan market in North America is predicted to account for the largest share of 45% by 2036 impelled by the growing production of natural gas. In the United States, natural gas consumption has increased in tandem with production owing to an increase in American industrial consumption. According to the U.S. Energy Information Administration, the major U.S. onshore regions that produce crude oil had a 9% increase in associated-dissolved natural gas (also known as associated natural gas) output in 2022, reaching 15.5 billion cubic feet per day (Bcf/d).
In addition, one of the major countries in the world producers of chemical products is the United States which caters to a growing international market in addition to a substantial home market. For instance, in 2022, the US chemical sector expanded its output volume by more than 4%.
APAC Market Statistics
The Asia Pacific methyl mercaptan market is estimated to be the second largest, during the forecast timeframe led by the growing agriculture industry. India's agriculture industry has experienced strong growth owing to the country's growing population and increased need for food and agricultural products. For instance, the agriculture sector in India developed at a rate of over 3% in 2023. Besides this, in India, pesticides are used on over 35% of the total farmed area to increase agricultural output feed the nation's expanding population, and lower crop loss. As a result, the demand for methyl mercaptan may significantly rise in the region.
Author Credits: Smruti Ranjan, Rajrani Baghel
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