Thioglycolate Market Analysis

Based on type, the thioglycolate market is segmented as calcium thioglycolate, potassium thioglycolate, ammonium thioglycolate, sodium thioglycolate, others. Calcium Thioglycolate held a majority market value of USD 38.4 million in 2022. Calcium thioglycolate is used in depilatory creams and lotions for temporary hair removal. The demand is driven by consumer preferences for convenient hair removal methods.

Based on function, the market is segmented as reducing agent, complexing agent, others. Reducing agent held a dominant market share of around 40% in 2022 and is expected to grow at a lucrative pace through 2032. Demand is driven by the use of ammonium thioglycolate in hair straightening and perming formulations, allowing for versatile hairstyling options and trends.

Based on application, the thioglycolate market is segmented as personal care & cosmetics, chemical processing, pharmaceuticals, textiles, others. Personal Care & Cosmetics held a dominant market share in 2022 and is anticipated to grow at 2.7% CAGR till 2032. The demand is influenced by the use of calcium thioglycolate in depilatory creams and lotions for temporary hair removal, catering to consumer preferences for convenient hair removal methods. Thus, the high-quality services and growing usage of thioglycolate at food centres are anticipated to expedite the business statistics.

U.S. dominated the North American region with majority thioglycolate market share and a revenue of USD 24.9 million in 2022 and is anticipated to expand at a significant pace from 2023-2032. North American consumers' evolving hair care preferences, including straightening, perming, and texturizing, drive the demand for thioglycolates used in professional salon services and at-home products.