Thio- and Dithiocarbamates, Thiuram Mono-, Di- or Tetrasulphides and Methionine Market

The article discusses the increasing demand for thiocarbamates, dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine worldwide. Market is projected to grow in volume to 2.6M tons by 2030, with value reaching $10.2B. The highest consumption and production countries are highlighted, with China, Singapore, and the United States leading the way. Imports and exports data show significant growth in certain countries and fluctuations in pricing over the years.

Market Forecast

Driven by increasing demand for thiocarbamates, dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.3% for the period from 2022 to 2030, which is projected to bring the market volume to 2.6M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.0% for the period from 2022 to 2030, which is projected to bring the market value to $10.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Thiocarbamates, Dithiocarbamates, Thiuram Mono-, Di- or Tetrasulphides and Methionine

In 2022, global consumption of thiocarbamates, dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine totaled 2.2M tons, remaining constant against the previous year. The total consumption volume increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at 2.2M tons in 2020; afterwards, it flattened through to 2022.

The size of the market for thiocarbamates, dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine worldwide rose sharply to $7.4B in 2022, picking up by 9.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (335K tons), the United States (233K tons) and Singapore (200K tons), together accounting for 35% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of methionine, amongst the key consuming countries, was attained by Singapore (with a CAGR of +45.8%), while methionine for the other global leaders experienced more modest paces of growth.

In value terms, the largest thio- and dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine markets worldwide were Singapore ($936M), China ($874M) and the United States ($670M), with a combined 33% share of the global market.

Singapore, with a CAGR of +45.6%, saw the highest growth rate of market size in terms of the main consuming countries over the period under review, while methionine for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of per capita consumption of thiocarbamates, dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine was registered in Singapore (35 kg per person), followed by France (0.9 kg per person), Japan (0.8 kg per person) and the UK (0.7 kg per person), while the world average per capita consumption of thio- and dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine was estimated at 0.3 kg per person.

From 2012 to 2022, the average annual rate of growth in terms of the per capita consumption of thiocarbamates, dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine in Singapore stood at +44.5%. In the other countries, the average annual rates were as follows: France (+4.0% per year) and Japan (+6.1% per year).

Production

World Production of Thiocarbamates, Dithiocarbamates, Thiuram Mono-, Di- or Tetrasulphides and Methionine

In 2022, the amount of thiocarbamates, dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine produced worldwide skyrocketed to 1.7M tons, picking up by 23% against the year before. Overall, the total production indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +57.6% against 2017 indices. The pace of growth appeared the most rapid in 2018 with an increase of 24%. Over the period under review, global production of attained the peak volume in 2022 and is expected to retain growth in the near future.

In value terms, production of thiocarbamates, dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine expanded rapidly to $4.8B in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 27% against the previous year. Global production peaked at $5.1B in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (319K tons), the United States (228K tons) and Singapore (199K tons), with a combined 45% share of global production.

From 2012 to 2022, the most notable rate of growth in terms of methionine, amongst the leading producing countries, was attained by Singapore (with a CAGR of +56.4%), while methionine for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Thiocarbamates, Dithiocarbamates, Thiuram Mono-, Di- or Tetrasulphides and Methionine

In 2022, after three years of growth, there was significant decline in supplies from abroad of thiocarbamates, dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine, when their volume decreased by -12.9% to 990K tons. The total import volume increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 13% against the previous year. Global imports peaked at 1.1M tons in 2021, and then contracted in the following year.

In value terms, imports of thiocarbamates, dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine reduced slightly to $2.9B in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 30% against the previous year. As a result, imports attained the peak of $3.7B. From 2016 to 2022, the growth of global imports of failed to regain momentum.

Imports By Country

In 2022, China (188K tons), distantly followed by Brazil (81K tons) and India (55K tons) were the major importers of thiocarbamates, dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine, together creating 33% of total imports. The Netherlands (41K tons), Russia (37K tons), Germany (35K tons), the Philippines (27K tons), Australia (27K tons), Thailand (26K tons), Poland (20K tons), Turkey (18K tons), South Africa (18K tons) and Egypt (18K tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of +3.4% from 2012 to 2022. At the same time, the Philippines (+12.2%), Russia (+9.7%), India (+9.6%), Egypt (+9.4%), Germany (+8.8%), Australia (+8.7%), South Africa (+6.7%), Brazil (+5.9%), Turkey (+5.6%), Thailand (+5.6%), Poland (+5.1%) and the Netherlands (+3.1%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in the world, with a CAGR of +12.2% from 2012-2022. While the share of India (+2.6 p.p.), Brazil (+2 p.p.), Russia (+1.8 p.p.) and the Philippines (+1.6 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($448M), Brazil ($232M) and India ($153M) were the countries with the highest levels of imports in 2022, with a combined 29% share of global imports. The Netherlands, Germany, Australia, Russia, the Philippines, Thailand, Poland, South Africa, Egypt and Turkey lagged somewhat behind, together comprising a further 26%.

The Philippines, with a CAGR of +8.4%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average import price for thiocarbamates, dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine stood at $2,908 per ton in 2022, increasing by 10% against the previous year. In general, the import price, however, showed a noticeable contraction. The pace of growth appeared the most rapid in 2015 when the average import price increased by 21%. As a result, import price attained the peak level of $4,259 per ton. From 2016 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($3,568 per ton), while Russia ($2,331 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-2.0%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Thiocarbamates, Dithiocarbamates, Thiuram Mono-, Di- or Tetrasulphides and Methionine

In 2022, global exports of thiocarbamates, dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine soared to 489K tons, jumping by 42% compared with 2021 figures. Over the period under review, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 56%. The global exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, exports of thiocarbamates, dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine skyrocketed to $1.6B in 2022. Overall, exports showed a prominent expansion. The pace of growth appeared the most rapid in 2021 with an increase of 58% against the previous year. The global exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports By Country

China (172K tons) and Malaysia (118K tons) represented the key exporters of thiocarbamates, dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine in 2022, amounting to near 35% and 24% of total exports, respectively. France (63K tons) ranks next in terms of the total exports with a 13% share, followed by Japan (5.8%) and Germany (5%). The following exporters - the Netherlands (12K tons) and the United States (12K tons) - each resulted at a 4.8% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +65.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($570M), Malaysia ($306M) and France ($203M) appeared to be the countries with the highest levels of exports in 2022, with a combined 69% share of global exports.

In terms of the main exporting countries, Malaysia, with a CAGR of +55.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for thiocarbamates, dithiocarbamates, thiuram mono-, di- or tetrasulphides and methionine stood at $3,178 per ton in 2022, shrinking by -6.8% against the previous year. In general, the export price showed a slight contraction. The pace of growth was the most pronounced in 2013 when the average export price increased by 8.9%. Over the period under review, the average export prices reached the maximum at $4,232 per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Germany ($3,881 per ton) and the Netherlands ($3,436 per ton), while Malaysia ($2,595 per ton) and the United States ($2,867 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-1.0%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform