Thioglycolic acid market
Thioglycolic Acid Market, By Grade (High Purity Grade, Low Purity Grade, Technical Grade), By Application (Cosmetics, Oil and Gas, Plastic and Polymer Chemicals, Leather Processing, Cleaning Agents, Others)By Geography (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
- Sep 2023
- CMI5116
- 110 Pages
- Excel & Pdf
- Advanced Materials
Summary
Thioglycolic acid market was valued at US$ 106.8 Mn in 2022, exhibiting a CAGR of 6.2% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 162.3 Mn by 2030.
Thioglycolic acid is a colourless liquid with a strong, typical mercaptan disagreeable odor (although olfactory fatigue may occur), which is used in cosmetic formulations including permanent wave solutions and depilatories, in pharmaceutical manufacture, and as a stabilizer for vinyl plastics.
Covid-19 Impact on Global Thioglycolic Acid Market
End-use industries such as oil and gas, chemical and petrochemical, plastics and polymers, and metal and metallurgy have been severely impacted by COVID-19 pandemic crisis. According to the U.S. Bureau of labour statistics in October 2020, demand for oil decreased by 3 million barrels, which represents approximately 20 percent of the U.S. overall oil consumption. The production in these end-user industries has been halted on the basis of the government regulations for social distancing and disruption in the supply chain. Moreover, the thioglycolic acid market has experienced negative growth during COVID-19.
Global Thioglycolic Acid Market -Drivers
- Thioglycolic acid or Mercaptoacetic acid acts as a restructuring agent, depilating agent and antioxidant: Thioglycolic acid or mercaptoacetic acid acts as a restructuring agent, depilating agent, and antioxidant. Thioglycolic acid is used in hair care applications and in other cosmetic care applications such as it is used in the formulation of perms and for the preparation of depilatory creams. Thioglycolic acid is used in cosmetics such as hair products, depilatories, and eyelash-waving products. It functions as an antioxidant, reducing agent, hair waving agent or straightening agent. Thioglycolic acid and its salts are used to modify hair to facilitate changes to the structure of hair, such as with permanent waves or with hair straightening. They are also used to chemically break down hair fibre so that unwanted hair can be removed by simply wiping it from the skin.
Global Thioglycolic Acid Market - Restraints
Thioglycolic acid can cause severe burns and chemical injuries
Thioglycolic acid can cause severe burns and chemical injuries when it comes into contact with the skin, eye, digestive, or respiratory tracts. It is corrosive and can even induce systemic toxicity. Thioglycolic acid is a contact irritant or corrosive substance for the eyes, skin, and mucous membranes. It is known to cause severe skin burns and eye damage. The European Chemical Agency (ECHA) recommends to labelling it with the H314 risk phrase. The various side effects and health hazards associated with the use of thioglycolic acid are expected to restrain market growth during the forecast period.
Thioglycolic Acid Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2022 | Market Size in 2023: | US$ 106.8 Mn |
| Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR: | 6.2% | 2030 Value Projection: | US$ 162.3 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Arkema, Bruno Bock Chemische Fabrik GmbH & Co. KG, Daicel Corporation, Ever Flourish Chemical, HiMedia Laboratories, Merck Millipore, Qingdao LNT Chemical Co., Ltd., Ruchang Mining, Sasaki Chemical, Swan Chemical, Thermo Fisher Scientific, Inc., Tokyo Chemical Industry Co., Ltd., Innova Global (India), Triveni Aromatics And Perfumery Private Limited., and Vizag chemicals |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Global Thioglycolic Acid Market - Segmentation
On the basis of application, in 2022, the cosmetic segment accounted for 30% of the revenue share in the global thioglycolic acid market. Cosmetics have become an indispensable feature of modern individual’s lifestyles. In addition, growth in consciousness about external beauty along with an individual’s internal intellect has become one of the major driving factors for the use of cosmetics in the global market. Presently, along with women, there is a rise in the use of cosmetics among men in their daily routine, which complements growth of the global cosmetics market demand. Hence, such changing lifestyles have led to growth of the global thioglycolic acid market.
Figure 1: Global Thioglycolic Acid Market, By Application, 2023
Global Thioglycolic Acid Market - Opportunities
- Thioglycolic acid is used in the production of various pharmaceuticals: Thioglycolic acid is used in the production of various pharmaceuticals, including antibiotics and anticancer drugs. The growing demand for these products is expected to drive the growth of the thioglycolic acid market.
- Rising demand for hair removal products : Thioglycolic acid is a key ingredient in hair removal products such as depilatory creams. The increasing demand for these products is expected to drive the growth of the thioglycolic acid market.
Global Thioglycolic Acid Market - Trends
- Thiogycolic acid is used as a corrosion inhibitor and iron controller in the oil and gas industry: Thiogycolic acid is used as a corrosion inhibitor and iron controller in the oil and gas industry. As a reducing and chelating agent to limit Fe3+ precipitation during well drilling or stimulation. For oil refining, thioglycolic acid mercaptides act as passivating agents during the catalytic cracking of hydrocarbons to limit the contamination of metal catalysts (Ni, V, etc.). Thioglycolic acid is also used as an additive in corrosion-inhibiting formulations to protect equipment used in various industries. Thioglycolic acid provides good inhibition when used as a corrosion inhibitor in the oil and gas industry, which is the major market trend in the global thioglycolic acid market .
Global Thioglycolic Acid Market - Regional Insights
Asia Pacific dominated the Global Thioglycolic Acid Market in 2022 accounting for 58% in terms of value.
Figure 2: Global Thioglycolic Acid Market, By Application, 2023
Global Thioglycolic Acid Market - Key Developments
- In January 2022, Biosynthetic Technologies stated that it had acquired Innoleo, LLC, a privately held producer of thioglycolic acid as well as a wide range of castor and other oleo derivative products.
- In June 2023, Arkema Company developed a new range of thioglycolic acid derivatives for use in personal care and cosmetic
- In April 2023, Thermo Fisher Scientific, Inc. Company is focused sustainability initiatives in the thioglycolic acid market. It has implemented eco-friendly production methods and is working towards reducing waste generation in its manufacturing processes.
Global Thioglycolic Acid Market - Key Players
Key players operating in the global thioglycolic acid market include Arkema, Bruno Bock Chemische Fabrik GmbH & Co. KG, Daicel Corporation, Ever Flourish Chemical, HiMedia Laboratories, Merck Millipore, Qingdao LNT Chemical Co., Ltd., Ruchang Mining, Sasaki Chemical, Swan Chemical, Thermo Fisher Scientific, Inc., Tokyo Chemical Industry Co., Ltd., Innova Global (India), Triveni Aromatics And Perfumery Private Limited., and Vizag chemicals.
*Definition: Thioglycolic acid is a colourless liquid with a strong, typical mercaptan disagreeable odor (although olfactory fatigue may occur), which is used in cosmetic formulations including permanent wave solutions and depilatories, in pharmaceutical manufacture, and as a stabilizer for vinyl plastics. A recent use is as a capping or stabilizing agent for Cadmium or Tellurium quantum dots (QDs).
Table of Content
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Grade
- Market Snippet, By Application
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Supply Side Drivers
- Demand Side Drivers
- Economic Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Mergers and Acquisitions
- New Product Approvals/Launch
- Promotion and Marketing Initiatives
- Drivers
- Cost Tier Down Analysis
- Market Dynamics
- Global Thioglycolic Acid Market – Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- Global Thioglycolic Acid Market, By Grade, 2022-2030 (US$ Million and Tons)
- Introduction
- Market Share Analysis, 2022 and 2030
- Y-o-Y Growth Analysis, 2022-2030(%)
- Segment Trends
- High Purity Grade
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Million and Tons)
- Low Purity Grade
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Million and Tons)
- Technical Grade
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Million and Tons)
- Introduction
- Global Thioglycolic Acid Market, By Application, 2022-2030(US$ Million and Tons)
- Introduction
- Market Share Analysis, 2022 and 2030
- Y-o-Y Growth Analysis, 2022-2030(%)
- Segment Trends
- Cosmetics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Million and Tons)
- Oil and Gas
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Million and Tons)
- Plastic and Polymer Chemicals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Million and Tons)
- Leather Processing
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Million and Tons)
- Cleaning Agents
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Million and Tons)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Million and Tons)
- Introduction
- Global Thioglycolic Acid Market, By Region, 2022-2030 (US$ Million and Tons)
- Introduction
- Market Share Analysis, By Region, 2022 and 2030
- Y-o-Y Growth Analysis, By Region, 2022-2030(%)
- North America
- Market Share Analysis, By Country, 2022 and 2030
- Y-o-Y Growth Analysis, By Country, 2022-2030(%)
- U.S.
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- Canada
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- U.S.
- Europe
- Market Share Analysis, By Country, 2022 and 2030
- Y-o-Y Growth Analysis, By Country, 2022-2030(%)
- U.K.
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- Germany
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- France
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- Italy
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- Spain
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- Russia
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- Rest of Europe
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- U.K.
- Asia Pacific
- Market Share Analysis, By Country, 2022 and 2030
- Y-o-Y Growth Analysis, By Country, 2022-2030(%)
- China
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- India
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- Japan
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- ASEAN
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- Australia
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- South Korea
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- Rest of Asia Pacific
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- China
- Latin America
- Market Share Analysis, By Country, 2022 and 2030
- Y-o-Y Growth Analysis, By Country, 2022-2030(%)
- Brazil
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- Mexico
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- Argentina
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- Rest of Latin America
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- Brazil
- Middle East
- Market Share Analysis, By Country, 2022 and 2030
- Y-o-Y Growth Analysis, By Country, 2022-2030(%)
- GCC
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- Israel
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- Rest of Middle East
- Country Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- GCC
- Africa
- Market Share Analysis, By Sub-region, 2022 and 2030
- Y-o-Y Growth Analysis, By Sub-region, 2022-2030(%)
- North Africa
- Sub-region Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- Central Africa
- Sub-region Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- South Africa
- Sub-region Trends
- Market Size and Forecast, By Grade, 2022-2030 (US$ Million and Tons)
- Market Size and Forecast, By Application, 2022-2030 (US$ Million and Tons)
- North Africa
- Introduction
- Competitive Landscape
- Heat Map Analysis
- Market Share Analysis (3x3 Matrix)
- Company Profiles
- Arkema
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Bruno Bock Chemische Fabrik GmbH & Co. KG
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Daicel Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Ever Flourish Chemical.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- HiMedia Laboratories
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Merck Millipore
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Qingdao LNT Chemical Co., Ltd
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Ruchang Mining
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Sasaki Chemical
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Swan Chemical
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Thermo Fisher Scientific, Inc
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Tokyo Chemical Industry Co., Ltd
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Innova Global (India)
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Triveni Aromatics and Perfumery Private Limited
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Vizag chemicals
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Arkema
- Section
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- References
- Research Methodology
- About us and Sales Contact
*Browse 24 market data tables and 28 figures on “Global Thioglycolic Acid Market” - Global Forecast to 2030
Segmentation
Global Thioglycolic Acid Market Detailed Segmentation:
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- By Region:
- North America
- U.S.
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Canada
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Europe
- U.K.
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Germany
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- France
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Italy
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Spain
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Russia
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Rest of Europe
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Asia Pacific
- China
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- India
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Japan
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- ASEAN
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Australia
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- South Korea
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Rest of Asia Pacific
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Latin America
- Brazil
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Mexico
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Rest of Latin America
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Middle East
- GCC
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Israel
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Rest of Middle East
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Africa
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- Central Africa
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Others
- South Africa
- By Grade:
- High Purity Grade
- Low Purity Grade
- Technical Grade
- By Application:
- Cosmetics
- Oil and Gas
- Plastics & Polymers Chemicals
- Leather Processing
- Cleaning Agents
- Frequently Asked Questions -
What will the market size of global thioglycolic acid market in 2030 and at what rate will it grow?
The market for global thioglycolic acid market is estimated to surpass US$ 162.3million by 2030, exhibiting a CAGR of 6.2% between 2023 and 2030.
What are the major growth driving factors for the market during the forecast period?
Increasing demand for thioglycolic acid in the cosmetic and personal care industries is the major factor that is expected to drive growth of the market .
What is the Compound Annual Growth Rate (CAGR) of the market during the forecast period (2023-2030)?
The market is expected to exhibit a CAGR of 6.2% during the forecast period (2023-2030).
Who are the prominent players in the market?
Major players operating in the market include Arkema, Bruno Bock Chemische Fabrik GmbH & Co. KG, Daicel Corporation, Ever Flourish Chemical, HiMedia Laboratories, Merck Millipore, Qingdao LNT Chemical Co., Ltd., Ruchang Mining, Sasaki Chemical, Swan Chemical, Thermo Fisher Scientific, Inc., Tokyo Chemical Industry Co., Ltd., Innova Global (India), Triveni Aromatics And Perfumery Private Limited., and Vizag chemicals
What are the key factors hampering the growth of the market?
The increasing prices of raw materials needed for the manufacturing of thioglycolic acid and the health concerns related to exposure to thioglycolic acid are restraining market growth.