Thioglycolates Market to Witness Comprehensive Growth by 2023
Thioglycolates
are the salts of thioglycolic acid, and are used extensively in
cosmetic applications. Glycolic acid is a compound with low molecular
weight and dual functionality of acids and alcohols. Moreover,
glycolic acid has a very small molecular weight and size, thereby
enabling it to permeate through the skin tissue. The different salts
of thioglycolic acid include: sodium thioglycolate, ammonium
thioglycolate, potassium thioglycolate, and calcium thioglycolate.
The main application of thioglycolateslies in the cosmetic products
used in the removal of body hair. Apart from cosmetics industry,
thioglycolates also finds application in the frozen food industry. It
is also used as a stabilizer in the production of polyvinyl chloride
(PVC).
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A
majority of thioglycolates are employed in the manufacturing of
cosmetics such as hair perming, and hair removal. Ammonium
thioglycolate is the main product type used in these applications. A
solution comprising ammonium thioglycolate contains ample ammonia,
which helps to swell the hair and thereby, render it permeable. Hair
perm is by far the most important application of ammonium
thioglycolate. On the other hand, calcium thioglycolate and potassium
thioglycolate are used as ingredients in the manufacturing of
chemical depilatories. Chemical depilatory is a cosmetic preparation
used to remove unwanted hair from the human body. Apart from
depilatories, it is also used in shaving creams, hair removing waxes,
and facial moisturizers.The growth in demand for these cosmetic
productsis likely to translate into higher demand for thioglycolates
during the forecast period. Sodium and potassium thioglycolates are
also used in the preparation of frozen foods in order to improve
their antimicrobial properties and preserve them for a longer shelf
life. Frozen bakery, for instance, is a particularly well known
industry that uses thioglycolates.
In
spite of the favorable outlook for thioglycolates in the global
market, the market has to encounter several regulatory challenges in
its path to growth. Over exposure to ammonium thioglycolate has been
reported to have negative repercussions on the human body. Allergy,
skin irritation, and respiratory distress are some of the factors
that restrain the market. However, the chemical is not found to be
carcinogenic in nature.
The
thioglycolate market has ample opportunities to grow in the near
future. The growing market for cosmetics as well as frozen food is
expected to boost the market demand for thioglycolates. The market
dynamics in the Asia Pacific region is especially attractive for the
growth of the chemical.
North
America accounts for the largest demand of thioglycolates globally
followed by the Asia Pacific and Europe regions.However, the Asia
Pacific region is expected to witness the fastest growth due to the
improving socioeconomic conditions in the region. China and India are
expected to lead the surge in demand in Asia Pacific. Consumption of
frozen food has witnessed rapid growth in the region along with the
cosmetic and beauty products for females and males. China is one of
the major manufacturers as well as consumers of thioglycolates in the
world.
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Several
established chemical companies are involved in the production of
thioglycolates. Some key companies operating in this market include
Alfa Aesar, Bruno Bock chemische Fabrik KG, Neostar United Industrial
Co. Ltd, CellMark Chemicals, American International Chemical Inc.,
and ICC Chemical Corporation.
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