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The global methyl mercaptan industry is being aided by the growing demand for the product from various application sectors. As the methyl mercaptan industry is less capital intensive, and its production does not require the use of any major technology, the market is highly competitive. The increased penetration of leading companies in the United States has significantly contributed to the industry growth in the North America region, thus, aiding the overall market. Some of the major companies in the industry include Arkema S.A. (OTCMKTS: ARKAY) and Chevron Phillips Chemical Company.
The growing mergers and acquisitions by the major players are expected to further aid the market growth. In July 2021, Arkema announced that the company had acquired Fixatti, a company focusing on high-performance thermobonding adhesive technology, thus, expanding its business and global reach. Further, the growing demand for petrochemicals will also boost the sales of methyl mercaptan as it is used as a fuel additive as well as a gas odorant for gases like natural gas, and others. In July 2020, Chevron Phillips Chemical Company LLC and Qatar Petroleum signed an agreement to jointly develop the U.S. Gulf Coast petrochemical project, which is worth USD 8 billion. Such developments are expected to positively impact the global methyl mercaptan industry over the forecast period.
Market Breakup by Source, Synthesis Type, Functionality, Application, and Region:
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The major players in the global methyl mercaptan market are Arkema S.A. and Chevron Phillips Chemical Company, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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