The global thionyl chloride market size reached USD 522 million in 2024 and is predicted to hit around USD 842.22 million by 2034, expanding at a CAGR of 4.9% from 2024 to 2034.
The thionyl chloride market refers to preparing and manufacturing thionyl chloride for various purposes. Thionyl chloride is used as a chlorinating agent in the manufacture of organic compounds, as a solvent in lithium batteries, and in making pesticides. The growing adoption of industrial thionyl chloride in agriculture, pharmaceuticals, chemicals, dyes, and other industries globally drives the market. The growing research and development activities to develop novel chemicals or drugs promote the use of thionyl chloride. The increasing demand and sales of electric vehicles, as well as portable electronics, potentiate the use of lithium-ion batteries, thereby boosting thionyl chloride use. Additionally, the booming demand for increased crop yields and quality agricultural products favor market growth.
The future opportunities for the thionyl chloride market include technological advancements. The advent of advanced technologies, such as artificial intelligence, increases the efficiency of large-scale manufacturing of thionyl chloride. Industrial collaboration and suitable regulatory frameworks increase the use of thionyl chloride. Furthermore, expanding applications of thionyl chloride in military and aerospace applications, as well as rapid industrial urbanization also present market growth opportunities.
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| Stats ID: | 7287 |
| Format: | Databook |
| Published: | December 2024 |
| Delivery: | Immediate |
| Stats ID: | 7287 |
| Format: | Databook |
| Published: | December 2024 |
| Delivery: | Immediate |
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