Thionyl chloride is a fluid that is monochrome, pale yellow, or magenta at ambient temperatures. The complex has low stickiness and a strong, fuming, sulfur-like scent. Thionyl chloride is frequently used as a chlorinating proxy in the production of chemicals used in herbicides, surfactants, drugs, and dyestuffs. In addition, it is engaged in the preparation of polyarylate-type engineering thermoplastics and electrolytes in lithium-ion batteries.
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According to NIIR PROJECT CONSULTANCY SERVICES (NPCS) thionyl chloride is an important material in the manufacture of many chemicals and chemical intermediates, such as dyestuffs, pharmaceuticals and acid chlorides. Increasing demand for power sources, such as utility devices as well as remote-metering devices, is expected to boost the demand for lithium thionyl chloride batteries in the near future.
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Attractive Chances in the Battery and Pesticides Segments
· In the battery business, thionyl chloride is in high demand as a solvent. In the production of lithium-ion batteries, it is utilised as an electrolyte.
· In the near future, rising R&D efforts and foreign direct investments (FDIs) in the field of batteries, particularly in Japan, China, and South Korea, will certainly create enormous prospects for thionyl chloride manufacturers.
· Increasing demand for processing solvents in the pesticides industry to make inabenfide, valerate, fenvalerate, mosquito-killing dimerthrin, flucythrinate, diflubenzuron, isocarbophos, fenpropathrin, endosulfan, deltamethrin, and warfarin is expected to provide lucrative opportunities for manufacturers in the global thionyl chloride market during the forecast period.
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Application insights:
The global thionyl chloride market is divided into dyes, pesticides, pharmaceutical agents, chemical synthesis, battery, and other applications based on application. Pesticides are one of the most popular products on the market. The capacity of thionyl chloride to impart chlorinating properties to many pesticides accounts for a large portion of its market share. Due to rising demand for remote monitoring, remote metering, automotive power, backup power, and other services, the battery segment is predicted to grow at the fastest CAGR over the projection period.
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The need for lithium thionyl chloride batteries is likely to rise in the near future as demand for power sources such as utility devices and remote-metering devices grows. In lithium thionyl chloride batteries, thionyl chloride is employed as an active cathode. As a result, demand for thionyl chloride is likely to increase in the coming years.
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Analysing Asia Pacific Market:
· Asia Pacific, followed by North America and Europe, is the largest consumer of thionyl chloride. Major agricultural-producing countries, such as India, China, and Thailand, are well-represented in the region. Mounting demand for pesticides in order to boost the output and yield of crops is projected to drive the demand for thionyl chloride in the next few years.
· Rising FDIs in the automotive industry in Asia Pacific's developing economies is another factor predicted to propel the market during the forecast period.
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Global Arcade:
The global Thionyl Chloride market is predicted to increase at a CAGR of 2.2 percent between 2021 and 2026, from 467.5 million dollars in 2020 to 546.5 million dollars by the end of 2026. North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the regions where the global market for thionyl chloride is divided. During the projection period, the thionyl chloride market in North America and Europe will likely be propelled by rising demand for lithium thionyl chloride batteries used in the creation of remote-monitoring systems. Furthermore, firms in these regions are largely focused on new product launches, intensive R&D, and expanding their presence in emerging markets.
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From 2020 to 2030, rising thionyl chloride imports in Latin America and the Middle East and Africa are expected to drive up demand for the chemical. Shandong Kaisheng New Materials, Lanxess AG, SUMITOMO SEIKA CHEMICALS CO., LTD, and Jiang Xi Selon Industry are some of the leading companies participating in the global market.
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Conclusion:
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