Increasing cosmetics and frozen food demand is expected to positively influence the global thioglycolates market over the forecast period. Chocolate ingredients, cosmetics, frozen food additives and sodium reducing agents are a few notable thioglycolates applications. Frozen bakery industry, a major thioglycolates end-use industry over the last few years, is touted to witness rapid growth in the near future.
Rising meat & dairy products consumption coupled with increasing bakery, sauce and condiments demand is slated to aid the global market over the next six years. Rising population and disposable income levels in emerging economies such as China, India, Brazil, Malaysia and Russia are projected to drive their respective regional market development.
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Ammonium thioglycolate, calcium thioglycolate, butyl thioglycolate, glyceryl thioglycolate, methyl thioglycolate, sodium thioglycolate, isopropyl thioglycolate and isooctyl thioglycolate are used for various hair applications. However, prolonged exposure to these chemicals can lead to severe health issues. Such negative health effects are anticipated to hinder the global market growth.
Stringent regulations and standards regarding product formulation are expected to further hamper the market growth. Research initiatives to develop products sans the derogatory health effects offer ample opportunities for the industry participants. Growing cosmetic industry in the emerging economies provide companies with opportunities to increase their global market presence.
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North America dominated the thioglycolates market over the last few years due to pervasive applications spread across numerous industries. Emerging economies such as India, China and Brazil are expected to witness brisk market growth due to high regional thioglycolates demand. U.S. and China dominated their respective regional markets over the recent years.
Prominent companies in the global thioglycolates market include Triveni Chemicals, Haihang Industry Co. Ltd., Alpha Chemika, Neostar United Industrial Co. Ltd., American International Chemical Inc., CellMark Chemicals, ICC Chemical Corporation, AN Pharma Tech Co. Ltd, Advanced Technology & Industrial Co. Ltd. and Alfa Aesar.
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