In 2023, the thiourea market in Asia witnessed price fluctuations. In the first quarter, prices initially rose due to increased raw material costs and demand from downstream industries. However, excess supply and weak market conditions in China led to a decline. The second quarter saw a further price drop, with falling coal and feedstock prices contributing to the negative trend. In Europe, uncertainties in coal and natural gas costs affected the thiourea market, with reduced consumer purchasing power and the Russia-Ukraine crisis causing inflation. In North America, economic challenges, plummeting natural gas prices, and production imbalances resulted in an oversupply issue, exacerbated by extreme weather conditions and banking crises.
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Definition
Thiourea is a sulfur-containing organic compound with the chemical formula (NH2)2CS. It is a white crystalline solid with a slight odor, highly soluble in water and various organic solvents. Thiourea possesses unique properties, including its ability to function as a reducing agent and complexing agent. It forms stable complexes with various metal ions, making it valuable in analytical chemistry for trace metal analysis. Thiourea’s versatile chemical characteristics also find application in the textile industry for dyeing and in the manufacturing of certain pharmaceuticals and agrochemicals. However, its industrial use is regulated due to its potential environmental and health risks.
Key Details About the Thiourea Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Thiourea in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Thiourea Price chart, including India Thiourea price, USA Thiourea price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Thiourea Price Trend:
Thiourea, a sulfur-containing organic compound, has several industrial applications. In the textile industry, it is utilized as a reducing agent in the dyeing process, enhancing dye penetration and colorfastness. Thiourea is also employed in analytical chemistry for its ability to form stable complexes with metal ions, aiding in trace metal analysis. It finds a place in the pharmaceutical and agrochemical sectors for its role in synthesizing certain chemicals. Additionally, thiourea serves as a reagent in various chemical reactions and plays a part in the manufacture of specialty chemicals. Despite its versatility, the industrial use of thiourea is regulated due to its potential environmental and health risks.
Key Players:
- Hebei Xinji Chemical Group Co Ltd
- Guizhou Hongkai Chemial Co Ltd
- Hongye Chemical Co Ltd
- Shandong Tianfeng Biotechnology Co Ltd
- Acuro Organics Limited
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