(MENAFN- GlobeNewsWire - Nasdaq) The thioglycolate market is witnessing strong global growth, fueled by rising demand in personal care and men's grooming. Advancements in gentler formulations are unlocking fresh opportunities for expansion worldwide.

Chicago, Oct. 27, 2025 (GLOBE NEWSWIRE) -- The global thioglycolate market was valued at US$ 116.8 million in 2024, and is anticipated to grow steadily, achieving a valuation of US$ 155.1 million by 2033 at a CAGR of 3.2% between 2025 and 2033.

The international flow of thioglycolate products highlights a vibrant and interconnected global supply chain. Recent data from late 2023 through October 2024 shows significant cross-border activity. During this period, a total of 1,018 global export shipments were recorded. These transactions involved 466 unique exporting entities and 599 distinct buyers. Furthermore, the trade network spanned the globe, with products originating from 31 different exporting nations. Consequently, these goods reached a broad customer base distributed across 70 importing nations, demonstrating the truly global nature of the thioglycolate market.

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Specific pricing and trade volumes further illustrate market dynamics for key derivatives. In India, for instance, the listed price for a 37 kg container of Ammonium Thioglycolate in New Delhi is ₹ 425/Kg. Meanwhile, a 25 kg container of Potassium thioglycolate in Valsad, Gujarat, is priced at ₹ 250/kg. Sourcing from international suppliers reveals different scales, with one China-based provider of Ammonium Thioglycolic Acid requiring a minimum order of 1000 kg. Additionally, the price range from a supplier is set between USD 50-100/kgs, reflecting variables in purity and volume. Such granular data is crucial for strategic sourcing and competitive pricing decisions.

Key Findings in Thioglycolate Market

Market Forecast (2033)	US$ 155.1 million
CAGR	3.2%
Largest Region (2024)	North America (31.33%)
By Product Type	Sodium Thioglycolate (35%)
By Application	Hair Care & Cosmetic Product (Largest)
Top Drivers	Rising consumer demand for effective hair straightening and perming solutions. Significant expansion of the global men's personal grooming industry. Continuous innovation in developing milder and more effective product formulations.
Top Trends	Growing consumer preference for at-home hair care treatment kits. Rapid market expansion and product adoption in emerging Asian economies. Formulation shift towards ingredients that minimize potential skin and hair irritation.
Top Challenges	Competition from alternative, non-chemical hair styling methods and technologies. Potential for hair damage or skin irritation with improper use. Global supply chain volatility impacting raw material procurement and availability.

Personal Care Industry Trends Strongly Propel Demand for Innovative Thioglycolate Formulations

The personal care and cosmetics sector remains a primary engine for thioglycolate consumption. Consumer behavior and expectations for 2025 strongly support continued growth. Projections indicate the global skincare segment will generate revenues of approximately $177 billion by 2025. Consumer demand is also becoming more sophisticated. Indeed, 71 out of 100 consumers now expect personalized beauty experiences. Moreover, 73 out of 100 are willing to pay a premium for brands that offer transparency. In a related quality metric, 170 cosmetic products were reported for issues in June 2025, underscoring the need for high-quality ingredients.

The Ammonium Thioglycolate segment commanded the largest market share in 2024. Its dominance is largely due to its widespread use in hair care products. Projections show a Compound Annual Growth Rate (CAGR) for the Ammonium Thioglycolate market of 3.8% between 2025 and 2031. Furthermore, the broader global beauty and personal care market is projected to reach a size of $547.3 billion in 2025. Another growth indicator is the anticipated global beauty market value of $590 billion by 2030, reinforcing the long-term potential for the market. The male grooming industry is also expected to reach a valuation of USD 90 billion by 2030.

Asia-Pacific Region Emerges as a Critical Demand Hotspot for Thioglycolate Products

The Asia-Pacific region is a pivotal growth area for the chemical industry. Its dynamism directly fuels demand within the regional thioglycolate market. India's chemical sector is on a remarkable trajectory, with a projected value of USD 304 billion by 2025. A testament to its logistical prowess, the Asia-Pacific region commanded a 41% share of the entire chemical logistics market in 2024. Such a substantial share underscores the region's central role in the global supply chain for chemicals, including various thioglycolate compounds.

Future growth projections for the region are exceptionally strong. The Asia-Pacific thioglycolate market is forecast to expand at a CAGR of 4.7% through 2032. Continued investment and industrialization across key economies in the region are the primary drivers of this optimistic outlook. The increasing manufacturing activities, coupled with a rising consumer class with disposable income for personal care products, create a dual engine for demand. Consequently, stakeholders are focusing their strategic efforts on capitalizing on the immense opportunities present within these fast-growing Asian markets.

Pharmaceutical and Life Sciences Sectors Drive Consistent Demand for High-Purity Compounds in the Thioglycolate Market

Innovation in pharmaceuticals and life sciences provides a steady and valuable demand stream. These sectors require high-purity thioglycolate compounds for various applications. In 2024, the U.S. Food and Drug Administration (FDA) approved 63 new chemical entities (NCEs) and biologics. The agency also approved 8 new gene therapies in the same year. This high level of innovation indicates a healthy pipeline of new products that could incorporate specialty chemicals. The industry's commitment to research is substantial.

The top 50 pharmaceutical companies spent a combined USD 167 billion on research and development in 2022. A strong intellectual property focus is also evident. The pharmaceutical industry filed 12,425 patent applications through the Patent Cooperation Treaty in 2023. This continuous cycle of research, development, and patenting ensures a consistent need for high-grade chemical inputs. Therefore, the pharmaceutical segment remains a crucial and stable pillar of the broader thioglycolate market, rewarding suppliers who can meet stringent quality and purity standards.

Financial Health of Key Market Players Signals a Stable and Confident Industry

The financial performance of industry leaders like Merck offers a window into market stability. In 2024, the corporation reported impressive worldwide sales of $64.2 billion. In European currency, total net sales reached €21.2 billion. Profitability was also strong, with total EBITDA pre-exceptionals recorded at €6.1 billion. The company's performance translated into shareholder returns, with a proposed dividend of €2.20 per share. These figures reflect a healthy operating environment for major players.

Earnings per share data provides further evidence of financial strength. The full-year GAAP Earnings Per Share (EPS) for 2024 was $6.74. The Non-GAAP EPS was even higher at $7.65. Such robust financial metrics from a key competitor and supplier in the specialty chemicals space are indicative of the overall health of the ecosystem. Consequently, these results instill confidence in the stability and profitability of the global thioglycolate market, suggesting a positive environment for investment and growth for all participants in the value chain.

Market Leader Divisional Performance Reveals Diverse and Extremely Profitable Global Revenue Streams

A granular look at the divisional performance of market leaders reveals the diverse sectors driving revenue. Merck's Pharmaceutical division generated sales of $57.4 billion in 2024. The Healthcare business sector contributed sales of €8.5 billion. Other significant revenue streams included Animal Health, with sales of $5.9 billion. The Electronics business sector added €3.8 billion, while the Life Science business sector achieved sales of €8.9 billion. This diversification across multiple resilient sectors provides a strong foundation for stable growth.

Specific blockbuster products highlight the profitability within these divisions. The oncology drug KEYTRUDA achieved massive sales of $29.5 billion in 2024. Meanwhile, GARDASIL/GARDASIL 9 vaccines generated sales of $8.6 billion. A newer product, WINREVAIR, recorded sales of $419 million. A diverse portfolio like an example, which includes high-demand specialty products, underpins the financial stability of key players. Ultimately, a success benefits the entire supply chain, including the segment of the thioglycolate market that supplies raw materials for various applications within these divisions.

Forward-Looking Projections from Industry Giants Point to Sustained and Healthy Market Expansion

Corporate outlooks for 2025 from major industry players signal continued confidence and growth. Merck, for instance, projects its 2025 worldwide sales to be between $64.1 billion and $65.6 billion. In terms of net sales in Euros, the company forecasts a range from €21.5 billion to €22.9 billion. These projections indicate an expectation of stable to positive revenue growth. Profitability forecasts are similarly optimistic. The projected EBITDA pre-exceptionals for 2025 is estimated to fall between €6.1 billion and €6.6 billion.

Earnings projections further solidify a positive outlook. The company's forecast for Non-GAAP EPS in 2025 ranges from a low estimate of $8.88 to a high estimate of $9.03. These forward-looking statements from a market bellwether suggest a favorable operating climate for the upcoming year. The sustained financial health and positive growth expectations of such companies directly translate to a stable demand forecast for the raw materials they consume, which is excellent news for the thioglycolate market. Such guidance is invaluable for strategic planning and investment decisions.

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Strict Regulatory Landscapes Dictate Formulation Strategies and Global Market Access Requirements

Navigating the complex web of international regulations is crucial for success in the global thioglycolate market. Regulatory bodies set strict limits on the use of thioglycolic acid and its salts. In the United States, the FDA permits a maximum concentration of 8% in hair straightening products. The Cosmetic Ingredient Review (CIR) Expert Panel has determined that a maximum concentration of 15.4% is safe for use in hair care products. In Canada, the rules are similarly specific for market participants.

Health Canada allows a concentration of up to 8% in hair waving or straightening products for general use. These products must maintain a pH level between 7 and 9.5. For professional-use products, the permitted concentration increases to 11%. For depilatory products, the maximum allowed concentration is 5%, with a permitted pH range of 7 to 12.7. Adherence to these detailed regulations is non-negotiable for market access. These rules directly influence product formulation, labeling, and marketing strategies, shaping the competitive dynamics of the personal care segment of the thioglycolate market.

Global Thioglycolate Market Key Players:

• AkzoNobel
• AN Pharma Tech Co. Ltd
• Ashland Global Holdings Inc.
• BASF
• Celanese Corporation
• Clariant
• Dow Chemical Company
• Eastman Chemical Company
• Evonik Industries
• Triveni Chemicals
• Huntsman Corporation
• Innospec Inc.
• Lanxess
• LyondellBasell Industries Holdings B.V.
• Solvay
• SABIC
• Tokyo Chemical Industry Co., Ltd.
• Weifang Yi Hua Chemical Co., Ltd.

Key Market Segmentation:

By Product

• Sodium Thioglycolate
• Butyl Thioglycolate
• Ammonium Thioglycolate
• Potassium Thioglycolate
• Calcium Thioglycolate
• Others

By Application

• Chemical Intermediate
• Pharmaceuticals
• Oil and Gas
• Leather
• Mining
• Haircare and Cosmetic Products
• Others

By Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

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