"The Global Isopropyl Mercaptan Market was valued at USD 233.8 million in 2025 and is projected to reach USD 340.1 million by 2034, growing at a CAGR of 4.8%."
Isopropyl Mercaptan (IPM), also known as 2-propanethiol, is a colorless, flammable organic compound with a distinct odor and is widely used as a gas odorant, chemical intermediate, and flavoring agent. Its ability to impart strong olfactory characteristics makes it vital in safety applications, especially for detecting natural gas leaks. The compound is also used in agrochemicals, rubber processing, and refinery operations. With increasing industrialization, particularly in oil & gas infrastructure and the agrochemical sector, demand for isopropyl mercaptan is gradually expanding. Regulatory concerns over toxic exposure levels are balanced by technological advances in controlled dosing and storage solutions. The Asia-Pacific region leads demand due to widespread gas utility expansions, while North America remains a major producer due to its strong refining and petrochemical base. The market is relatively niche but resilient, with a growing emphasis on customized formulations and application-specific derivatives.
In 2024, the isopropyl mercaptan market experienced steady growth, largely driven by rising investments in gas infrastructure modernization and increased uptake of odorant systems in industrial safety frameworks. Regulatory agencies in North America and Europe tightened standards on odorant usage in urban utility networks, prompting municipalities to upgrade systems. Companies introduced new grades of IPM with improved stability and lower environmental volatility to align with sustainability goals. Innovations in container packaging and transport safety mechanisms also enhanced logistics for hazardous compounds like IPM. Notably, refinery turnarounds in the U.S. Gulf Coast boosted seasonal demand, while fertilizer manufacturers in India and Southeast Asia diversified sourcing due to price fluctuations in upstream sulfur derivatives. Despite global economic uncertainties, IPM’s niche applications helped shield it from major disruptions, keeping market sentiment stable across most segments.
Looking ahead to 2025 and beyond, the isopropyl mercaptan market is expected to see incremental gains supported by increased emphasis on gas safety, especially in smart city and rural gas grid programs. Demand from the agrochemical sector is set to rise with the global push for improved crop yields and pest resistance. Additionally, R&D investments in odorant alternatives and low-emission mercaptan variants may redefine product formulations. Technological improvements will enable better vapor pressure control and precision dosing equipment, expanding the utility of IPM in high-sensitivity environments. Regional trade shifts are anticipated as China and India enhance domestic production capacity to reduce import dependence. Environmental and worker safety standards will continue to shape packaging norms and transportation protocols, leading to stricter compliance burdens but also encouraging innovation in handling systems. Overall, the market outlook remains cautiously optimistic, balancing regulatory pressure with specialized, irreplaceable applications.
Key Market Trends, Drivers and Challenges
- Growing use of IPM in smart gas grids and leak detection systems is reinforcing its role as a crucial safety component, particularly in urban infrastructure upgrades and emerging rural pipeline expansions.
- Development of eco-friendlier and less volatile IPM formulations is gaining traction, aiming to reduce emissions and meet stringent health and environmental safety standards without compromising odorant effectiveness.
- Customized packaging and transport systems for hazardous chemicals like IPM are being developed, incorporating real-time tracking and spill containment measures to improve supply chain safety and efficiency.
- Increased investment in natural gas infrastructure globally, especially in Asia and the Middle East, is driving the demand for mercaptans like IPM as essential odorants for pipeline safety.
- Rising demand in the agrochemical sector for mercaptan-based intermediates, especially in herbicides and insecticides, is contributing to market expansion in agricultural economies.
- Stringent regulatory requirements for gas odorization in residential and industrial applications are compelling utilities and refineries to adopt reliable odorant compounds like isopropyl mercaptan.
- Strict environmental and occupational health regulations surrounding the handling and storage of IPM pose significant compliance and operational cost challenges for producers and end-users.
- Volatility in raw material pricing, particularly sulfur-based feedstocks, leads to unpredictable cost structures and supply chain instability, especially for smaller market participants.
Report Scope
| Parameter | Detail |
|---|---|
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2026-2034 |
| Market Size-Units | USD billion |
| Market Splits Covered | By Product, By Application, By End User and By Technology |
| Countries Covered | North America (USA, Canada, Mexico) Europe (Germany, UK, France, Spain, Italy, Rest of Europe) Asia-Pacific (China, India, Japan, Australia, Rest of APAC) The Middle East and Africa (Middle East, Africa) South and Central America (Brazil, Argentina, Rest of SCA) |
| Analysis Covered | Latest Trends, Driving Factors, Challenges, Supply-Chain Analysis, Competitive Landscape, Company Strategies |
| Customization | 10 % free customization (up to 10 analyst hours) to modify segments, geographies, and companies analyzed |
| Post-Sale Support | 4 analyst hours, available up to 4 weeks |
| Delivery Format | The Latest Updated PDF and Excel Datafile |
Isopropyl Mercaptan Market Segmentation
By Product
- Liquid
- Solid
By Application
- Chemical Manufacturing
- Pharmaceutical Industry
- Agrochemicals
By End User
- Food Industry
- Cosmetics
- Industrial
By Technology
- Liquid Phase Synthesis
- Gas Phase Synthesis
By Geography
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, Vietnam, Rest of APAC)
- The Middle East and Africa (Middle East, Africa)
- South and Central America (Brazil, Argentina, Rest of SCA)
Key Market Players
- Chevron Phillips Chemical Company
- Arkema Group
- Evonik Industries AG
- Shandong Fangming Chemical Co., Ltd.
- Tangshan Yufeng Chemical Co., Ltd.
- Arkema Thiochemicals
- Manav Chemicals
- Merck KGaA
- Wuhan Fortuna Chemical Co., Ltd.
- Lanxess AG
- Haihang Industry Co., Ltd.
- Zibo Nalcohol Chemical Co., Ltd.
- Thermo Fisher Scientific
- Yixing Zhongtian Chemical Industry Co., Ltd.
- Jinan Haohua Industry Co., Ltd.
What You Receive
• Global Isopropyl Mercaptan market size and growth projections (CAGR), 2024- 2034• Impact of recent changes in geopolitical, economic, and trade policies on the demand and supply chain of Isopropyl Mercaptan.
• Isopropyl Mercaptan market size, share, and outlook across 5 regions and 27 countries, 2025- 2034.
• Isopropyl Mercaptan market size, CAGR, and Market Share of key products, applications, and end-user verticals, 2025- 2034.
• Short and long-term Isopropyl Mercaptan market trends, drivers, restraints, and opportunities.
• Porter’s Five Forces analysis, Technological developments in the Isopropyl Mercaptan market, Isopropyl Mercaptan supply chain analysis.
• Isopropyl Mercaptan trade analysis, Isopropyl Mercaptan market price analysis, Isopropyl Mercaptan Value Chain Analysis.
• Profiles of 5 leading companies in the industry- overview, key strategies, financials, and products.
• Latest Isopropyl Mercaptan market news and developments.
The Isopropyl Mercaptan Market international scenario is well established in the report with separate chapters on North America Isopropyl Mercaptan Market, Europe Isopropyl Mercaptan Market, Asia-Pacific Isopropyl Mercaptan Market, Middle East and Africa Isopropyl Mercaptan Market, and South and Central America Isopropyl Mercaptan Markets. These sections further fragment the regional Isopropyl Mercaptan market by type, application, end-user, and country.
Who can benefit from this research
The research would help top management/strategy formulators/business/product development/sales managers and investors in this market in the following ways1. The report provides 2024 Isopropyl Mercaptan market sales data at the global, regional, and key country levels with a detailed outlook to 2034, allowing companies to calculate their market share and analyze prospects, uncover new markets, and plan market entry strategy.
2. The research includes the Isopropyl Mercaptan market split into different types and applications. This segmentation helps managers plan their products and budgets based on the future growth rates of each segment
3. The Isopropyl Mercaptan market study helps stakeholders understand the breadth and stance of the market giving them information on key drivers, restraints, challenges, and growth opportunities of the market and mitigating risks
4. This report would help top management understand competition better with a detailed SWOT analysis and key strategies of their competitors, and plan their position in the business
5. The study assists investors in analyzing Isopropyl Mercaptan business prospects by region, key countries, and top companies' information to channel their investments.
Available Customizations
The standard syndicate report is designed to serve the common interests of Isopropyl Mercaptan Market players across the value chain and include selective data and analysis from entire research findings as per the scope and price of the publication.However, to precisely match the specific research requirements of individual clients, we offer several customization options to include the data and analysis of interest in the final deliverable.
Some of the customization requests are as mentioned below :
Segmentation of choice – Our clients can seek customization to modify/add a market division for types/applications/end-uses/processes of their choice.
Isopropyl Mercaptan Pricing and Margins Across the Supply Chain, Isopropyl Mercaptan Price Analysis / International Trade Data / Import-Export Analysis
Supply Chain Analysis, Supply–Demand Gap Analysis, PESTLE Analysis, Macro-Economic Analysis, and other Isopropyl Mercaptan market analytics
Processing and manufacturing requirements, Patent Analysis, Technology Trends, and Product Innovations
Further, the client can seek customization to break down geographies as per their requirements for specific countries/country groups such as South East Asia, Central Asia, Emerging and Developing Asia, Western Europe, Eastern Europe, Benelux, Emerging and Developing Europe, Nordic countries, North Africa, Sub-Saharan Africa, Caribbean, The Middle East and North Africa (MENA), Gulf Cooperation Council (GCC) or any other.
Capital Requirements, Income Projections, Profit Forecasts, and other parameters to prepare a detailed project report to present to Banks/Investment Agencies.
Customization of up to 10% of the content can be done without any additional charges.
Note: Latest developments will be updated in the report and delivered within 2 to 3 working days.
1.1 List of Tables
1.2 List of Figures
2. Isopropyl Mercaptan Market Latest Trends, Drivers and Challenges, 2024- 2034
2.1 Isopropyl Mercaptan Market Overview
2.2 Market Strategies of Leading Isopropyl Mercaptan Companies
2.3 Isopropyl Mercaptan Market Insights, 2024- 2034
2.3.1 Leading Isopropyl Mercaptan Types, 2024- 2034
2.3.2 Leading Isopropyl Mercaptan End-User industries, 2024- 2034
2.3.3 Fast-Growing countries for Isopropyl Mercaptan sales, 2024- 2034
2.4 Isopropyl Mercaptan Market Drivers and Restraints
2.4.1 Isopropyl Mercaptan Demand Drivers to 2034
2.4.2 Isopropyl Mercaptan Challenges to 2034
2.5 Isopropyl Mercaptan Market- Five Forces Analysis
2.5.1 Isopropyl Mercaptan Industry Attractiveness Index, 2024
2.5.2 Threat of New Entrants
2.5.3 Bargaining Power of Suppliers
2.5.4 Bargaining Power of Buyers
2.5.5 Intensity of Competitive Rivalry
2.5.6 Threat of Substitutes
3. Global Isopropyl Mercaptan Market Value, Market Share, and Forecast to 2034
3.1 Global Isopropyl Mercaptan Market Overview, 2024
3.2 Global Isopropyl Mercaptan Market Revenue and Forecast, 2024- 2034 (US$ Million)
3.3 Global Isopropyl Mercaptan Market Size and Share Outlook By Product, 2024- 2034
3.4 Global Isopropyl Mercaptan Market Size and Share Outlook By Application, 2024- 2034
3.5 Global Isopropyl Mercaptan Market Size and Share Outlook By End User, 2024- 2034
3.6 Global Isopropyl Mercaptan Market Size and Share Outlook By Technology, 2024- 2034
3.7 Global Isopropyl Mercaptan Market Size and Share Outlook by Region, 2024- 2034
4. Asia Pacific Isopropyl Mercaptan Market Value, Market Share and Forecast to 2034
4.1 Asia Pacific Isopropyl Mercaptan Market Overview, 2024
4.2 Asia Pacific Isopropyl Mercaptan Market Revenue and Forecast, 2024- 2034 (US$ Million)
4.3 Asia Pacific Isopropyl Mercaptan Market Size and Share Outlook By Product, 2024- 2034
4.4 Asia Pacific Isopropyl Mercaptan Market Size and Share Outlook By Application, 2024- 2034
4.5 Asia Pacific Isopropyl Mercaptan Market Size and Share Outlook By End User, 2024- 2034
4.6 Asia Pacific Isopropyl Mercaptan Market Size and Share Outlook By Technology, 2024- 2034
4.7 Asia Pacific Isopropyl Mercaptan Market Size and Share Outlook by Country, 2024- 2034
5. Europe Isopropyl Mercaptan Market Value, Market Share, and Forecast to 2034
5.1 Europe Isopropyl Mercaptan Market Overview, 2024
5.2 Europe Isopropyl Mercaptan Market Revenue and Forecast, 2024- 2034 (US$ Million)
5.3 Europe Isopropyl Mercaptan Market Size and Share Outlook By Product, 2024- 2034
5.4 Europe Isopropyl Mercaptan Market Size and Share Outlook By Application, 2024- 2034
5.5 Europe Isopropyl Mercaptan Market Size and Share Outlook By End User, 2024- 2034
5.6 Europe Isopropyl Mercaptan Market Size and Share Outlook By Technology, 2024- 2034
5.7 Europe Isopropyl Mercaptan Market Size and Share Outlook by Country, 2024- 2034
6. North America Isopropyl Mercaptan Market Value, Market Share and Forecast to 2034
6.1 North America Isopropyl Mercaptan Market Overview, 2024
6.2 North America Isopropyl Mercaptan Market Revenue and Forecast, 2024- 2034 (US$ Million)
6.3 North America Isopropyl Mercaptan Market Size and Share Outlook By Product, 2024- 2034
6.4 North America Isopropyl Mercaptan Market Size and Share Outlook By Application, 2024- 2034
6.5 North America Isopropyl Mercaptan Market Size and Share Outlook By End User, 2024- 2034
6.6 North America Isopropyl Mercaptan Market Size and Share Outlook By Technology, 2024- 2034
6.7 North America Isopropyl Mercaptan Market Size and Share Outlook by Country, 2024- 2034
7. South and Central America Isopropyl Mercaptan Market Value, Market Share and Forecast to 2034
7.1 South and Central America Isopropyl Mercaptan Market Overview, 2024
7.2 South and Central America Isopropyl Mercaptan Market Revenue and Forecast, 2024- 2034 (US$ Million)
7.3 South and Central America Isopropyl Mercaptan Market Size and Share Outlook By Product, 2024- 2034
7.4 South and Central America Isopropyl Mercaptan Market Size and Share Outlook By Application, 2024- 2034
7.5 South and Central America Isopropyl Mercaptan Market Size and Share Outlook By End User, 2024- 2034
7.6 South and Central America Isopropyl Mercaptan Market Size and Share Outlook By Technology, 2024- 2034
7.7 South and Central America Isopropyl Mercaptan Market Size and Share Outlook by Country, 2024- 2034
8. Middle East Africa Isopropyl Mercaptan Market Value, Market Share and Forecast to 2034
8.1 Middle East Africa Isopropyl Mercaptan Market Overview, 2024
8.2 Middle East and Africa Isopropyl Mercaptan Market Revenue and Forecast, 2024- 2034 (US$ Million)
8.3 Middle East Africa Isopropyl Mercaptan Market Size and Share Outlook By Product, 2024- 2034
8.4 Middle East Africa Isopropyl Mercaptan Market Size and Share Outlook By Application, 2024- 2034
8.5 Middle East Africa Isopropyl Mercaptan Market Size and Share Outlook By End User, 2024- 2034
8.6 Middle East Africa Isopropyl Mercaptan Market Size and Share Outlook By Technology, 2024- 2034
8.7 Middle East Africa Isopropyl Mercaptan Market Size and Share Outlook by Country, 2024- 2034
9. Isopropyl Mercaptan Market Structure
9.1 Key Players
9.2 Isopropyl Mercaptan Companies - Key Strategies and Financial Analysis
9.2.1 Snapshot
9.2.3 Business Description
9.2.4 Products and Services
9.2.5 Financial Analysis
10. Isopropyl Mercaptan Industry Recent Developments
11 Appendix
11.1 Publisher Expertise
11.2 Research Methodology
11.3 Annual Subscription Plans
11.4 Contact Information
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FAQ's
The Global Isopropyl Mercaptan Market is estimated to generate USD 233.8 million in revenue in 2025.
The Global Isopropyl Mercaptan Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period from 2025 to 2034.
The Isopropyl Mercaptan Market is estimated to reach USD 340.1 million by 2034.
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