The global sodium thiosulphate market is driven by its wide range of applications across various industries. Its molecular formula Na2S2O3.xH2O signifies its versatility and solubility in water. The compound's availability in different hydrate forms, including the commonly used pentahydrate, Na2S2O3·5H2O, adds to its appeal. Sodium thiosulphate's manufacturing process, involving sulfur, sodium sulfite, and sodium hydroxide, ensures its efficient production. The compound finds applications in photography, medical treatments, water treatment, and industrial processes. As these industries continue to expand, the demand for sodium thiosulphate remains robust.
According to Data Bridge Market Research, the Global Sodium Thiosulphate Market was valued at USD 96.36 million in 2021 and is expected to reach USD 159.48 million by 2029, registering a CAGR of 6.50% during the forecast period of 2022 to 2029.
“Rising demand for its application in water treatment processes facilitate market growth”
The global sodium thiosulphate market is driven by the rising demand for its application in water treatment processes. Sodium thiosulphate's ability to neutralize chlorine in water makes it a crucial component in dechlorination applications, ensuring the removal of harmful chlorine residuals from water sources. As water treatment becomes increasingly essential for maintaining water quality and meeting regulatory standards, the demand for sodium thiosulphate continues to grow. Its effectiveness in dechlorination processes across various industries, including municipal water treatment and industrial applications, fuels its market expansion.
What restraints the growth of the global sodium thiosulphate market?
“Fluctuating prices of raw materials”
The global sodium thiosulphate market faces a challenge in the form of fluctuating prices of raw materials. Sodium thiosulphate production relies on key inputs such as sulfur and sodium carbonate, both of which can experience price volatility due to supply and demand dynamics, geopolitical factors, and market conditions. These price fluctuations can impact the cost structure of sodium thiosulphate manufacturing, potentially affecting profit margins and posing a challenge to market stability and growth.
Segmentation: Global Sodium Thiosulphate Market
The sodium thiosulphate market is segmented on the basis of grade and application.
- On the basis of grade, the sodium thiosulphate market is segmented into medical grade, industrial grade, food grade, agricultural grade, and others.
- On the basis of application, the sodium thiosulphate market is segmented into medical, photographic processing, iodometry, gold extraction, water treatment, and others.
Regional Insights: Asia-Pacific dominates the Global Sodium Thiosulphate Market
Asia-Pacific stands as a significant hub in the sodium thiosulphate market, with both remarkable revenue and market share. The region's robust demand from water treatment, medical, and photograph processing industries drives this dominance. Among these, China plays a pivotal role, exhibiting a strong presence in the regional market. This can be attributed to the substantial demand arising from the water treatment sector, contributing to the region's overall leadership in the sodium thiosulphate market.
In the forecast period of 2022-2029, North America is projected to emerge as the fastest-growing player in the sodium thiosulphate market. This expansion is primarily attributed to the surging demand for sodium thiosulphate in medical applications and end-use functions, particularly within the pharmaceutical industry. The United States spearheads this trend, boasting a substantial demand for pharmaceutical products. This heightened demand is a key driver propelling North America's rapid growth in the sodium thiosulphate market.
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Recent Developments in Global Sodium Thiosulphate Market
- In December of 2021, China Everbright Water, an environmental services company bagged a wastewater treatment project for Medical Sciences at the Ji’nan International Center in Shandong, China, worth USD 67.7 million. This company will mostly offer wastewater treatment services for the municipal wastewaterwhich is generated in the Meili, Taipinghe and Emei areas within the Ji’nan Medical Centre area. This project has 30 year of the concession period, including a one-year construction period.
- In August 2022, Fennec Pharmaceuticals signed an investment contract with Petrichor Healthcare Capital Management and finished the first closing of USD 5 million of senior secured promissory notes as formerly declared. According to the terms of the investment agreement, Fennec Pharmaceuticals would get an extra fund from Petrichor approx, USD 20 million on completion of the approval of PEDMARK (a sodium thiosulphate-based formulation) from potential United States Food and Drug Administration (FDA) by September 30, 2022
The Prominent Key Players Operating in the Global Sodium Thiosulphate Market Include:
- Esseco SRL (Italy)
- Galactic (U.S.)
- Allan Chemical Corporation (U.S.)
- Samirian Chemicals Inc. (U.S.)
- Noah Chemicals (U.S.)
- Dastech (U.S.)
- INEOS (U.K.)
- DBWINC (U.S.)
- Southern Ionics Incorporated (U.S.)
- Skyhawk Chemicals, Inc. (U.S.)
- Liyang Qingfeng Fine chemical Co.,Ltd. (China)
- Changsha weichuang chemical co.ltd (China)
- Haimen Wuyang Chemical Industry Co.,Ltd. (China)
Above are the key players covered in the report, to know about more and exhaustive list of global sodium thiosulphate market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Sodium Thiosulphate Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
