In addition, the pharmaceutical sector is estimated to grow at the fastest pace in the years to come. The reason
behind the overall market growth could be its use as an intermediate for developing thiazole and other drugs
for inhibiting thyroid disease. Also, estimated to grow at the highest CAGR in the years to come.
Globally, Asia Pacific accounted for the substantial market share of thiourea and is estimated to lead the overall
market in the years to come. The reason behind the overall market growth could be the government initiative
for increasing the productivity of crops, high investment in R&D sector to manufacture several drug types, and
the presence of key manufacturers in this region. The developing countries like India and China are the major
consumers of thiourea in this region.
North America and Europe are also estimated to have a positive influence on future growth. North America is
the second largest region with significant market share. The reason could be the rise in paper production and
the presence of key pharmaceutical industries. The United States is a major consumer of thiourea in this region.
However, Europe is estimated to grow at the highest CAGR in the forecast period.
The key players of the thiourea market are Guizhou Hongkai Chemical, Sanshin Chemical Industry Limited, Yantai
Dasteck Chemicals Co.Ltd., Zhejiang Rayfull Chemicals Co., Ltd., and Shandong Efirm Biochemistry and
Environmental Protection Co., Ltd. These players are concentrating on inorganic growth to sustain themselves
amidst fierce competition.
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