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)

Thioglycolic acid (TGA), also called mercaptoacetic acid (MAA), is a high-performance chemical containing mercaptan and carboxylic acid functionalities.

TGA is completely miscible in water and, in general, polar organic solvents. TGA is a strong reducing agent, especially at high pH, and forms powerful complexes with metals that give it specific characteristics. This acid is used in industries and applications as diverse as cosmetics, oil and gas, polymerization, fine chemistry, leather processing, cleaning, and metal recovery. In organic synthesis, thioglycolic acid acts as a sulfur transfer agent for sulfonyl chloride synthesis and a nucleophile in thioglycolysis reactions. Further, it is used in leather processing.

Market Dynamics

Increasing demand from the oil and gas sector for corrosion inhibitors and flow stimulators is expected to bolster demand for thioglycolic acid in the forecast period. The Bronsted acid characteristics of thioglycolic acid and its thiol functionality make it a chemical of choice for the preparation or regeneration of metal catalysts for hydrodesulfurization. The corrosion inhibiting properties of thioglycolic acid make it the most commonly used chemical for oil and gas and several other industries. The application of thioglycolic acid in corrosion inhibition is suppressing or at least mitigating the corrosion process of metals in different fields, spanning from industrial sectors to construction materials to surface treatments for cultural heritage.

According to the report presented by the Center for the Promotion of Imports Central Bureau of Investigation in March 2022, with increasing disposable income in emerging economies such as Germany, China, and India, demand is highest in the skin care, toiletries, and hair care product categories, thereby positively impacting the thioglycolic acid demand growth. Cosmetics are skincare products that enhance the appearance or odor of the human body. The salts of thioglycolic acid and some of its esters are used in the formulation of perms and for the preparation of depilatory creams. In these applications, the main salts are ammonium thioglycolate and potassium thioglycolate. In some applications, glycerol monothioglycolate is also used.

Key features of the study:

• This report provides in-depth analysis of the global thioglycolic acid market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year
• It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global thioglycolic acid based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study 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
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics
• The global thioglycolic acid market report caters to various stakeholders in this industry including investors, suppliers, cotton pad manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analysing the global thioglycolic acid market

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
• Europe
• Asia Pacific
• Latin America
• Middle East
• Company Profiles
• 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.
• Vizag chemicals