QY Research published a new report, titled “Global 2-Mercaptoethanol Market Report, History and Forecast 2014-2025,” which provides the key statistics of the market. It also sheds light on the basic overview of the market such as applications, segments, product type, and geographical analysis. The report evaluates the competitive landscape and provides valuable source of information and direction for the companies interested in the market.
The research analysts at QY Research predicts that the global 2-mercaptoethanol market will touch the valuation at US$91.20 mn by 2025 from US$68.67 mn in 2018. The global 2-mercaptoethanol market is likely to register a CAGR of 3.68% over the forecast period.
Global 2-Mercaptoethanol Market: Drivers
The global 2-Mercaptoethanol market will be witnessing substantial growth, as it is commonly used as an agent for disulfide reduction. 2-Mercaptoethanol sometimes also known as β-Mercaptoethanol is colorless liquid with an extremely strong odor. The 2- Mercaptoethanol is produced by the reaction of ethylene oxide and hydrogen sulfide and acts as a biological antioxidant. The 2- Mercaptoethanol also acts as a reducing agent because of its quick oxidizing property. It also has a toxic nature and causes irritation to the nasal passageways and skin.
In addition, 2- Mercaptoethanol is mainly used in the rubber and polymer industries as reactants. 2-Mercaptoethanol is preliminary being used as a corrosion inhibitor and cleaning agent for pipes during the water treatment. In the food industry, 2-Mercaptoethanol is used as an indirect food additive, which acts as a good flavoring agent. All of the above factors are responsible for market growth throughout the forecast period.
Global 2-Mercaptoethanol Market: Segment Analysis
The global market for 2-Mercaptoethanol is segmented into applications and product type. The product type segment includes <99% and ≥ 99%. The application segment covers the following segments such as water treatment applications, consumer & industrial applications, polymers and rubber applications, agrochemicals, and others.
Global 2-Mercaptoethanol Market: Regional Analysis
Asia Pacific is expected to dominate the global market for 2-Mercaptoethanol due to the presence of various industries such as polymers and rubber, agrochemicals, and water treatment, all of which use 2-Mercaptoethanol. North America and Europe are also likely to witness remarkable growth due to research and development activities and stringent government regulations in these regions.
Global 2-Mercaptoethanol Market: Leading Manufacturers
Sunion Chemical & Plastics, Chevron Phillips Chemical, and BASF are the major three players that are operating the market.
Global 2-Mercaptoethanol Market: Competitive Landscape
Chevron Phillips Chemical Company and Qatar Petroleum duly signed an agreement in June 2019, for further development, operation, and construction of petrochemicals complex in Qatar to produce high-density polyethylene (HDPE) and ethylene. The companies are planning to adopt the mergers and acquisitions strategies to develop their business and enhance their products in the market to gain higher revenue.
Full Report Overview@ https://www.qyresearch.com/index/detail/1088525/global-2-mercaptoethanol-market