Thioglycolic Acid Market Overview
Thioglycolic acid, also known as mercaptoacetic acid is a high-performance chemical containing mercaptan and carboxylic acid functionalities. Thioglycolic acid is a colorless liquid with strong, typical mercaptan odor.
Thioglycolic acid is produced by reacting sodium or potassium chloracetate with alkali metal hydrosulfide and can also be produced by reacting sodium thiosulfate and chloroacetic acid.
Thioglycolic acid finds application as an intermediate in the chemical reactions such as in elimination, addition and cyclization. Moreover, thioglycolic acid acts as a precursor to chemicals such as sodium thioglycolate, ammonium thioglycolate and calcium thioglycolate.
Thioglycolic acid acts as a corrosion inhibitor in recovery and transportation systems of oil & gas. Organotin derivatives of thioglycolic acid are used as stabilizers for polyvinyl chloride.
In organic synthesis, thioglycolic acid acts as a sulfur transfer agent for sulfonyl chloride synthesis and nucleophile in thioglycolysis reactions. Further, it is used in leather processing.
Thioglycolic acid find applications in various other end user industries including polymer, leather, chemical & petrochemical, cosmetics, metal & metallurgy and others.
Global Thioglycolic Acid Market: Dynamics
Increasing demand from oil & gas sector for corrosion inhibitor and flow stimulator is expected bolster the demand for thioglycolic acid in upcoming future.
Moreover, in developing nations, increasing disposable income is pushing the consumption of cosmetic products including hair care and thereby, positive impacting the thioglycolic acid demand growth.
Increasing need for metals and plastics in various industries to positively impact the thioglycolic market. Developed countries from Europe and North America having regulations on use of thioglycolic acid is preventing the market to reach to its full potential.
High reactivity of thioglycolic acid increases the cost of packaging material may reduce the net profits of the manufacturers.
The end use industries such as oil & gas, chemical & petrochemical, plastics & polymers, metal & metallurgy have been impacted severely by the ongoing pandemic (Covid-19) crisis. The production in these end-user industries have been halted on the basis of the government regulations for social distancing and also disruption in supply chain.
Moreover, the thioglycolic acid has market has experienced negative growth during the pandemic time and is expected to gain traction in a quarter or two by resumption towards industry average production rate by the manufacturers.
Global Thioglycolic Acid Market: Regional Outlook
Asia-Pacific region has been understood to hold a prominent share of thioglycolic acid and is expected to grow from moderate to high rate backed by growing end use markets of personal care products highly in countries such as China, India and Indonesia.
North America and Europe are also expected to hold a significant share of the thioglycolic acid market; albeit to grow at a comparatively lower rate. Increasing oil & gas activities in the U.S. is primarily expected to drive the North America thioglycoloc acid market. Increasing growth in petrochemical industry in and oil exploration in Middle East & Africa is the prominent factor driving the regions thioglycolic acid demand.
Latin America thioglycolic acid market is expected to on the basis of growth in cosmetics and metal & metallurgy industries.
Global Thioglycolic Acid Market: Key Participants
Examples of some of the market participants operating in the global Thioglycolic Acid market are:
- 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.
The Thioglycolic Acid market research report presents a comprehensive assessment of the Thioglycolic Acid market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The Thioglycolic Acid market research report provides analysis and information according to Thioglycolic Acid market segments such as geographies, application and industry.
The report covers exhaustive analysis on
- Thioglycolic Acid Market Segments
- Thioglycolic Acid Market Dynamics
- Thioglycolic Acid Market Size
- Thioglycolic Acid Supply & Demand Scenario
- Current Trends/Issues/Challenges in Thioglycolic Acid market
- Competition & Companies involved in Thioglycolic Acid market
- Technology used in Thioglycolic Acid Market
- Value Chain of Thioglycolic Acid Market
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K., Spain, BENELUX, Nordics)
- Eastern Europe (Russia, Poland, CIS)
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The Thioglycolic Acid Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with Thioglycolic Acid market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on Thioglycolic Acid market segments and geographies.
Thioglycolic Acid Market: Segmentation
The global Thioglycolic Acid market can be segmented on the basis of its purity, its application and its end use.
- < 99 %
- ≥ 99 %
- Corrosion & Scale Inhibitors
- Flow Stimulator
- Reducing Agent
- Chemical Intermediate
- Chain Transfer Agent
- Catalyst Recovery Agent
- Oil & Gas
- Plastics & Polymers
- Chemicals & Petrochemicals
- Metal & Metallurgy