THEIC market size to grow by USD 79.88 million from 2022 to 2027, Growing demand for agrochemicals to drive growth - Technavio

Research report focuses on top companies and crucial drivers, current growth dynamics, futuristic opportunities, and new product/project launches

NEW YORK, April 24, 2023 /PRNewswire/ -- The THEIC market size is expected to increase by USD 79.88 million from 2022 to 2027, registering a CAGR of 5.9%, according to the latest research report from Technavio. The growing demand for agrochemicals is driving the market growth. The global agrochemicals market is receiving significant investments for developing effective and eco-friendly fertilizers, plant-protection chemicals or pesticides, and plant-growth hormones. The focus on untapped markets, such as India and China, is increasing, especially in rural areas. The increasing demand for food and the limited amount of land for cultivation will further increase the use of agrochemicals to improve farm yield and reduce crop loss. THEIC is an intermediate in the synthesis of agrochemicals. Therefore, the THIEC market is expected to grow during the forecast period. Make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View a sample report!

Vendor landscape

The THEIC market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. Most established players have wide sales and distribution networks globally, whereas small players are concentrated in regional markets. Vendors compete on the basis of factors such as price, quality, reputation, brand identity, and distribution. With the rise in competition, the industry is witnessing consolidation, wherein small entities are acquired by or merged with major players. To survive and succeed in this intensely competitive environment, it becomes imperative for vendors in the market to distinguish their product and service offerings through clear and unique value propositions. Some of the key vendors and their offerings are listed below:

• AK Scientific Inc. - The company offers THEIC chemicals that are used for the production of dye staffs and intermediate for organic synthesis.
• ATAMAN Kimya AS - The company offers THEIC chemical additive that is used as a flame retardant and crosslinking agent in the production of polyurethane foam.
• Avantor Inc. - The company offers THEIC chemicals that are used for the production of dye staffs and intermediate for organic synthesis.
• Haihang Industry Co. Ltd. - The company offers THEIC chemicals that are used for the production of various polyurethane plastics and water-based baking lacquer.

For market's vendor landscape highlights with a comprehensive list of vendors and their offerings - View a sample

Key Market Segmentation

• End-user
• Paints and coatings
• Pharmaceuticals
• Wire manufacturing
• Others

The paints and coatings segment will account for a significant share of market growth during the forecast period. THEIC is used in polyimide-insulating varnishes, water-soluble paints, general oil-based paints, and paints. The introduction of innovative coatings and the demand for oil-based paints across end-user industries are driving the growth of this segment. Paints and coatings are used across various industrial and residential sectors. Some of the common industrial applications of paints and coatings include the general industrial, automotive, aerospace, transportation, marine, electrical and electronics, packaging, metal, and other sectors.

• Geography 
• APAC
• Europe
• North America
• South America
• Middle East and Africa

View a sample report The report comprises of various segments as well as analysis of the trends and factors that are playing a substantial role in the market.

Regional market outlook

APAC is estimated to account for 44% of the growth of the global market during the forecast period. Factors such as the growth of industries such as construction, automotive, and aerospace and defense are driving the growth of the regional market. Many automotive manufacturing companies have shifted their manufacturing bases to APAC. This helps them leverage the low-cost labor of countries in APAC. Moreover, governments of various countries, such as Indonesia, Malaysia, and Thailand, offer tax subsidies to these companies. Therefore, the growth of the automobile sector, the economic growth, and the emerging middle-class population will fuel the growth of the paints and coatings market in APAC.

For more key highlights on the regional market share of most of the above-mentioned countries - View a sample report

The THEIC market covers the following areas:

THEIC market sizing
THEIC market forecast
THEIC market analysis

Companies Mentioned

• AK Scientific Inc.
• ATAMAN Kimya AS
• Avantor Inc.
• Haihang Industry Co. Ltd.
• Hebei HaiDa Chemical Industry Co. Ltd.
• Kuilai Chemical Co.
• Laffans Petrochemicals Ltd.
• LANYA CHEM INDUSTRIES PVT LTD.
• LAVEEK ADDCHEM
• Merck KGaA
• Nantong Haotai Products Chemicals Co. Ltd.
• NISSEI Corp
• Shandong Jianbang New Material Co. Ltd.
• Shandong SanYoung Industry Co. Ltd.
• Shikoku Chemicals Corp.
• Tokyo Chemical Industry Co. Ltd.
• Toronto Research Chemicals Inc.
• Vortex Products Ltd.
• Wintersun International Inc.
• Yangzhou Chemical Co. Ltd.

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Key Topics Covered:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 13: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global THEIC market 2017 - 2021 
• Exhibit 17: Historic Market Size – Data Table on Global THEIC market 2017 - 2021 ($ million)

• 4.2 End user Segment Analysis 2017 - 2021
• Exhibit 18: Historic Market Size – End user Segment 2017 - 2021 ($ million)

• 4.3 Geography Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.4 Country Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 21: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 22: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 23: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 24: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 25: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 26: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 27: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments 
• Exhibit 28: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 29: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 30: Chart on Comparison by End-user
• Exhibit 31: Data Table on Comparison by End-user

• 6.3 Paints and coatings - Market size and forecast 2022-2027 
• Exhibit 32: Chart on Paints and coatings - Market size and forecast 2022-2027 ($ million)
• Exhibit 33: Data Table on Paints and coatings - Market size and forecast 2022-2027 ($ million)
• Exhibit 34: Chart on Paints and coatings - Year-over-year growth 2022-2027 (%)
• Exhibit 35: Data Table on Paints and coatings - Year-over-year growth 2022-2027 (%)

• 6.4 Pharmaceuticals - Market size and forecast 2022-2027
• Exhibit 36: Chart on Pharmaceuticals - Market size and forecast 2022-2027 ($ million)
• Exhibit 37: Data Table on Pharmaceuticals - Market size and forecast 2022-2027 ($ million)
• Exhibit 38: Chart on Pharmaceuticals - Year-over-year growth 2022-2027 (%)
• Exhibit 39: Data Table on Pharmaceuticals - Year-over-year growth 2022-2027 (%)

• 6.5 Wire manufacturing - Market size and forecast 2022-2027 
• Exhibit 40: Chart on Wire manufacturing - Market size and forecast 2022-2027 ($ million)
• Exhibit 41: Data Table on Wire manufacturing - Market size and forecast 2022-2027 ($ million)
• Exhibit 42: Chart on Wire manufacturing - Year-over-year growth 2022-2027 (%)
• Exhibit 43: Data Table on Wire manufacturing - Year-over-year growth 2022-2027 (%)

• 6.6 Others - Market size and forecast 2022-2027
• Exhibit 44: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 45: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 46: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 47: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by End-user 
• Exhibit 48: Market opportunity by End-user ($ million)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

• 8.1 Geographic segmentation 
• Exhibit 50: Chart on Market share by geography 2022-2027 (%)
• Exhibit 51: Data Table on Market share by geography 2022-2027 (%)

• 8.2 Geographic comparison 
• Exhibit 52: Chart on Geographic comparison
• Exhibit 53: Data Table on Geographic comparison

• 8.3 APAC - Market size and forecast 2022-2027
• Exhibit 54: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 55: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 57: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 8.4 Europe - Market size and forecast 2022-2027
• Exhibit 58: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 59: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 61: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 8.5 North America - Market size and forecast 2022-2027
• Exhibit 62: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 63: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 65: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 8.6 South America - Market size and forecast 2022-2027
• Exhibit 66: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 69: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 8.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 8.8 US - Market size and forecast 2022-2027
• Exhibit 74: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 77: Data Table on US - Year-over-year growth 2022-2027 (%)

• 8.9 China - Market size and forecast 2022-2027
• Exhibit 78: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 81: Data Table on China - Year-over-year growth 2022-2027 (%)

• 8.10 Germany - Market size and forecast 2022-2027
• Exhibit 82: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 85: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 8.11 Japan - Market size and forecast 2022-2027
• Exhibit 86: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 89: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 8.12 India - Market size and forecast 2022-2027
• Exhibit 90: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 93: Data Table on India - Year-over-year growth 2022-2027 (%)

• 8.13 Market opportunity by geography 
• Exhibit 94: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 95: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape 
• Exhibit 96: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption 
• Exhibit 97: Overview on factors of disruption

• 10.4 Industry risks 
• Exhibit 98: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered 
• Exhibit 99: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 100: Matrix on vendor position and classification

• 11.3 AK Scientific Inc. 
• Exhibit 101: AK Scientific Inc. - Overview
• Exhibit 102: AK Scientific Inc. - Product / Service
• Exhibit 103: AK Scientific Inc. - Key offerings

• 11.4 ATAMAN Kimya AS 
• Exhibit 104: ATAMAN Kimya AS - Overview
• Exhibit 105: ATAMAN Kimya AS - Product / Service
• Exhibit 106: ATAMAN Kimya AS - Key offerings

• 11.5 Avantor Inc. 
• Exhibit 107: Avantor Inc. - Overview
• Exhibit 108: Avantor Inc. - Business segments
• Exhibit 109: Avantor Inc. - Key offerings
• Exhibit 110: Avantor Inc. - Segment focus

• 11.6 Haihang Industry Co. Ltd. 
• Exhibit 111: Haihang Industry Co. Ltd. - Overview
• Exhibit 112: Haihang Industry Co. Ltd. - Product / Service
• Exhibit 113: Haihang Industry Co. Ltd. - Key offerings

• 11.7 Kuilai Chemical Co. 
• Exhibit 114: Kuilai Chemical Co. - Overview
• Exhibit 115: Kuilai Chemical Co. - Product / Service
• Exhibit 116: Kuilai Chemical Co. - Key offerings

• 11.8 Laffans Petrochemicals Ltd. 
• Exhibit 117: Laffans Petrochemicals Ltd. - Overview
• Exhibit 118: Laffans Petrochemicals Ltd. - Product / Service
• Exhibit 119: Laffans Petrochemicals Ltd. - Key offerings

• 11.9 LANYA CHEM INDUSTRIES PVT LTD. 
• Exhibit 120: LANYA CHEM INDUSTRIES PVT LTD. - Overview
• Exhibit 121: LANYA CHEM INDUSTRIES PVT LTD. - Product / Service
• Exhibit 122: LANYA CHEM INDUSTRIES PVT LTD. - Key offerings

• 11.10 LAVEEK ADDCHEM 
• Exhibit 123: LAVEEK ADDCHEM - Overview
• Exhibit 124: LAVEEK ADDCHEM - Product / Service
• Exhibit 125: LAVEEK ADDCHEM - Key offerings

• 11.11 Merck KGaA 
• Exhibit 126: Merck KGaA - Overview
• Exhibit 127: Merck KGaA - Business segments
• Exhibit 128: Merck KGaA - Key news
• Exhibit 129: Merck KGaA - Key offerings
• Exhibit 130: Merck KGaA - Segment focus

• 11.12 NISSEI Corp 
• Exhibit 131: NISSEI Corp - Overview
• Exhibit 132: NISSEI Corp - Product / Service
• Exhibit 133: NISSEI Corp - Key offerings

• 11.13 Shandong Jianbang New Material Co. Ltd.
• Exhibit 134: Shandong Jianbang New Material Co. Ltd. - Overview
• Exhibit 135: Shandong Jianbang New Material Co. Ltd. - Product / Service
• Exhibit 136: Shandong Jianbang New Material Co. Ltd. - Key offerings

• 11.14 Shandong SanYoung Industry Co. Ltd.
• Exhibit 137: Shandong SanYoung Industry Co. Ltd. - Overview
• Exhibit 138: Shandong SanYoung Industry Co. Ltd. - Product / Service
• Exhibit 139: Shandong SanYoung Industry Co. Ltd. - Key offerings

• 11.15 Shikoku Chemicals Corp. 
• Exhibit 140: Shikoku Chemicals Corp. - Overview
• Exhibit 141: Shikoku Chemicals Corp. - Business segments
• Exhibit 142: Shikoku Chemicals Corp. - Key offerings
• Exhibit 143: Shikoku Chemicals Corp. - Segment focus

• 11.16 Tokyo Chemical Industry Co. Ltd. 
• Exhibit 144: Tokyo Chemical Industry Co. Ltd. - Overview
• Exhibit 145: Tokyo Chemical Industry Co. Ltd. - Product / Service
• Exhibit 146: Tokyo Chemical Industry Co. Ltd. - Key offerings

• 11.17 Vortex Products Ltd. 
• Exhibit 147: Vortex Products Ltd. - Overview
• Exhibit 148: Vortex Products Ltd. - Product / Service
• Exhibit 149: Vortex Products Ltd. - Key offerings

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist
• Exhibit 150: Inclusions checklist
• Exhibit 151: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 152: Currency conversion rates for US$

• 12.4 Research methodology 
• Exhibit 153: Research methodology
• Exhibit 154: Validation techniques employed for market sizing
• Exhibit 155: Information sources

• 12.5 List of abbreviations 
• Exhibit 156: List of abbreviations

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