Increasing Food & Beverage Industry to boost Diethyl Sulfide Market Growth

 

Diethyl Sulfide Market 

Diethyl Sulfide Market By Applications (Pre-sulfiding agent, Chemical Intermediate, Industrial Solvant, Flavoring Agent, Back-up odorant and Furnace passivation agent), By End-Use Industry (Chemical, Polymer, Food & Beverage and Petrochemical) and Geography (North America, Europe, Asia-Pacific, and Rest of the World) Size, Share, Outlook, and Opportunity Analysis, 2023-2030

The global Diethyl Sulfide Market is estimated to be valued at reach US$  231.5 Mn in 2021 and is expected to exhibit a CAGR of 27.3 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Diethyl sulfide is utilized as a solvent for anhydrous mineral salts and in electroplating baths for covering metals with gold or silver. It is utilized as a flavoring agent. It is also utilized in the addition reaction with platinum dichloride to make platinum ethynyl dimers and polymers with suspended ferrocenyl group. Furthermore, it is utilized in the prouction of triethylsulfoniuim ethylsulfate by reaction with sulfuric acid diethyl ester.

Competitive Landscape:

Key players involved in the growth of global Diethyl Sulfide Market are Acros Organics B.V.BA, Tokyo Chemical Industry Co.Ltd., Arkema Inc., Sigma-Aldrich Corporation and Finetech Industry Limited. 

Market Key Drivers:

Increasing demand of diethyl sulfide in txhe food& beverage industry is expected to augment the growth of the global Diethyl Sulfide Market. For instance, the food and beverage industry is projected to reach US$ 1703 Million by the end of 2023.

Rising demand for coating and decorative products is projected to propel the growth of global Diethyl Sulfide Market. For instance, the market for décor items is projected to be valued at US$ 792.6 Billion by 2025.

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected due to the growth of the global Diethyl Sulfide Market due to the surge in pandemic. The increasing cases has disrupted the supply chain and the closure of manufacturing and production units has led to the delay in supply of things in the market.  All these factors impeded the market growth.

Key Takeaways:

The global Diethyl Sulfide Market is anticipated to exhibit a CAGR of 27.3 % during the forecast period due to rising production of diethyl sulfide. For instance, UBE Corporation utilizes a proprietary nitrile technique to generate dimethyl oxalate to be utilized as a raw material for pharma and agrochemicals.

Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the global Diethyl Sulfide Market due to rising demand of Food& Beverage Industry, increasing need for decorative and coating items, increasing approvals and launches. For instance, as per facts and figures In the Food market, Food& Beverage industry is projected to reach 190.80bn kg by 2027 in US.