According to the latest market survey conducted by Future Market Insights, the global Thymolphthalein market is relishing a market valuation of US$ 96.2 Million in 2022, and all are set to expand with a CAGR of 3.5% during the 2022 to 2032 period. The market is anticipated to top a valuation of US$ 135.6 Million by the end of the forecast period.
Attributes
Details
Market Size 2022
US$ 96.2 Million
Market Size 2032
US$ 135.6 Million
Value CAGR (2022 to 2032)
3.5 %
Collective Value Share: Top 3 Countries (2022E)
25% to 30%
Thymolphthalein is an indicator that can be used to determine whether a solution is basic or acidic. It has a transition range between 9.3 and 10.5 above this range, it turns blue, and below it, it is colorless. By using Friedel-Crafts alkylation, phthalic anhydride, and thymol can be mixed to produce thymolphthalein.
Ethyl alcohol (64-17-5) >99% and thymolphthalein (125-20-2) 0.04% are both ingredients used in the thymolphthalein indicator solution. The thymolphthalein indicator is a transparent, alcoholic liquid with a strong ethyl alcohol aroma that comes from the denatured ethyl alcohol it contains.
When denatured ethyl alcohol is added, the solution turns poisonous and becomes hazardous when consumed or inhaled. Because it contains ethyl alcohol, which has a flash point of 9 degrees Celsius, it is a flammable liquid. With peroxides, oxidizers, acids, acid anhydrides, ammonia, alkali metals, heat, moisture, and any other source of ignition, the solution reacts vigorously. Due to the increasing usage of this indicator in the pharmaceutical, coatings, and solvent industries the global thymolphthalein market is expected to have a modest CAGR in the forecast period.
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Historical (2016 to 2021) Vs. Forecast (2022 to 2032) Market Outlook
Over the period covered by the study (2016 to 2021), the market for thymolphthalein was recorded to grow at a phenomenal CAGR of 3.1 % between 2016 and 2021, mostly due to the increasing demand for solvent and indicators from chemical, pharmaceuticals, and coating industries
Whereas, as per the latest survey conducted by FMI, the thymolphthalein market is expected to progress at a CAGR of 3.5% between 2022 and 2032. Rising demand for a number of derivatives of thymolphthalein and their uses in the industries of wire enamels, pesticides, pharmaceuticals, and acrylic fibers are anticipated to bolster the global thymolphthalein market in the forecast period.
Market Dynamics
The usage of Thymolphthalein for chemical production.
Thymolphthalein is mostly utilized in the chemical industry as a disappearing ink or an indicator during chemical analysis. The indicators and reagents are the substance used for the identification, analysis, and detection of the biological, chemical, and physical processes or conditions.
The increasing usage of indicators during titration, chemical manufacturing, and the chemical process is expected to boost the demand for thymolphthalein.
Increasing demand from the Pharmaceutical industry.
Thymolphthalein is primarily used in the pharmaceutical sector as a chemical indicator during the production of a number of medicines and intermediates.
The increasing demand for chemicals used in the manufacturing of drugs is anticipated to significantly surge over the forecast period as these chemicals have high quality and grade and are used for the production of various tablets and medicine with amphoteric/acidic/alkaline medium thereby satisfying hospital standards. Expansion of the healthcare and pharmaceutical industry is expected to have a positive impact on the indicators over the forecast period.
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Category-wise Insights
Which is the widely adopted application segment for Thymolphthalein?
The solvent is the most preferred application segment due to rising demand from a variety of sectors such as paints and coating, pharmaceuticals, and agrochemicals. The solvent is a substance that is required to dissolve the substance or chemicals and converted to solutions, during this process to test the condition of the medium whether it is acidic or basic the indicators are used, owing to the growing demand for solvents the need for indicators is also increasing which is expected to bolster the market of thymolphthalein during the forecast period.
The chemical and agrochemicals industry uses solvents extensively in the form of products including ethanol, ketones, propanol, etc. The market is expected to grow at a faster rate in the near future owing to increasing demand for solvents.
Region-wise insights
How is North America faring in the global Thymolphthalein market?
North America is the leading Thymolphthalein consumer, holding the majority of shares approximately 40 to 45% in global revenue in 2022, owing to the growing demand for film and industrial solvents from end-use industries including coatings, pharmaceuticals, and chemicals. As the paints and coating manufacturers required solvents to avoid clumps and globs and to provide the desired consistency of the product the demand for thymolphthalein increased in the North American region.
What are the prospects for the Thymolphthalein market in the Asia-Pacific region?
The market is expected to expand at the fastest rate in the Asia Pacific. India and China have the fastest-growing end-use industries such as pharmaceuticals, chemicals, and agriculture. The increasing chemical production and application of thymolphthalein as an acid-base indicator mainly during the titration process of various chemicals is expected to be the major driver in the region.
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Competitive Landscape
Product differentiation, mergers, and acquisitions are important activities used by chemical and solvent industry manufacturers to improve their profitability and foster industry growth in the near future.
A similar development has been tracked by Future Market Insights in its latest market study.
Scope of the Report
Attribute
Details
Growth Rate
CAGR of 3.5% from 2022 to 2032
Base Year for Estimation
2021
Historical Data
2016 to 2021
Forecast Period
2022 to 2032
Quantitative Units
Revenue in USD Million, Volume in Tons, and CAGR from 2022 to 2032
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered
Type
End-Use Industry
Region
Regions Covered
North America
Latin America
Europe
East Asia
South Asia Pacific
Middle East and Africa
Key Countries Covered
USA
Canada
Mexico
Brazil
Germany
United Kingdom
France
Italy
Spain
Russia
BENELUX
China
Japan
South Korea
India
ASEAN Countries
Australia
New Zealand
GCC Countries
Turkey
Northern Africa
South Africa
Key Companies Profiled
Chevron Phillips Chemical Company Llc
Nova Chemicals Corp
The Dow Chemical Company
Basf Corporation
BorsodChem
Braskem S.A.
Mitsui Chemicals
Mitsubishi Chemical Corp
Sigma-Aldrich Co. LLC
OCI Corp
Customization & Pricing
Available upon Request
Market Segmentation
By Type:
Reagent Grade
Industrial Grade
By End-Use Industry:
Pharmaceuticals
Pesticides
Chemicals
Solvents
Others
By Region:
North America
Latin America
Europe
South Asia Pacific
East Asia
Middle East & Africa
Frequently Asked Questions
What was the value of the market in 2022?
In 2022, the value of the global Thymolphthalein market reached over US$ 96.2 Million
At what rate is the global market projected to expand during the forecast period?
During the forecast period, the global Thymolphthalein market is estimated to expand at a CAGR of 3.5% from 2022 to 2032.
By 2032, what will the value of the global market be?
The global Thymolphthalein market is projected to reach US$ 135.6 Million by the end of 2032.
Which are the top players in the market?
The key players operating in the Thymolphthalein market are Chevron Phillips Chemical Company Llc, Nova Chemicals Corp, The Dow Chemical Company, Basf Corporation, Borsodchem, Braskem S.A., Mitsui Chemicals, Mitsubishi Chemical Corp, Sigma-Aldrich Co. LLC, OCI Corp, and various others.
