The global thioglycolate market size is calculated at USD 118.65 million in 2024, grew to USD 122.39 million in 2025 and is projected to reach around USD 161.80 million by 2034. The market is expanding at a CAGR of 3.15% between 2024 and 2034. The North America thioglycolate market size is evaluated at USD 39.15 million in 2024 and is estimated to grow at a CAGR of 3.29% during the forecast period.
The global thioglycolate market size is accounted for USD 118.65 million in 2024 and is projected to reach around USD 161.80 million by 2034, growing at a CAGR of 3.15% from 2024 to 2034.
The U.S. thioglycolate market size is exhibited at USD 27.41 million in 2024 and is projected to be worth around USD 38.21 million by 2034, growing at a CAGR of 3.35% from 2024 to 2034.
North America dominated the Thioglycolate market in 2023 due to the escalation in demand in the cosmetics and personal care industry, offering high-performance products to meet the evolving needs of customers. The sophisticated infrastructure of the pharmaceutical industry in the region has led to an increasing demand for thioglycolate as a stabilizing agent in drug formulation. In North America, governing bodies such as the Food and Drug Administration (FDA) and Health Canada promote sustainable practices, which is likely to boost the sales of cosmetic products containing thioglycolate. Countries like the United States, Canada, and Mexico are the major contributors to the market. Furthermore, the prominent market players related to thioglycolates are adopting new technologies and rapid advancements in the thioglycolate-based formulations, improving the effectiveness of the product and enhancing consumer satisfaction.
Asia Pacific is expected to grow rapidly in the thioglycolate market during the forecast period. Factors such as expansion of rising disposable income, expansion of the chemicals sector, and rising demand from personal care and pharmaceutical industries. The rising consumer demand for premium, effective, and safe hairdressing and skin care products supported by advanced research and sustainable formulation is anticipated to accelerate the overall growth of the market. Moreover, the regulatory frameworks of governing bodies implement stringent requirements to ensure environmental sustainability and consumer safety.
The rising application of thioglycolate in the cosmetic and personal care industry has contributed to the overall growth of the thioglycolate market globally. Thioglycolic acid is an organic compound with the formula HSCH2CO2H that contains a thiol group (-SH) and carboxylic acid. Thioglycolic acid is a colorless liquid with an unpleasant odor. It is most widely used in cosmetic formulations, pharmaceutical manufacturing, and as a stabilizer for vinyl plastics.
The rising application of thioglycolate in the cosmetic and personal care industry has contributed to the overall growth of the thioglycolate market globally. It encompasses various types such as Sodium Thioglycolate, Butyl Thioglycolate, Potassium Thioglycolate, Ammonium Thioglycolate, Calcium Thioglycolate, and others, each catering to specific uses.
| Report Coverage | Details |
| Market Size by 2034 | USD 161.80 Million |
| Market Size in 2024 | USD 118.65 Million |
| Market Growth Rate from 2024 to 2034 | CAGR of 3.15% |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2034 |
| Segments Covered | Product, Application, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
Increasing popularity of hairdressing and haircare products
The rising adoption of hairdressing and haircare products around the world is expected to drive the growth of the thioglycolate market during the forecast period. Thioglycolic Acid serves as a key ingredient in various hair treatments and hair removal products, such as depilatory creams and perms.
Thioglycolic Acid and its esters and salts assist in modifying the hair fibers to provide changes to the structure of the fibers, including hair straightening or permanent waves. This chemical process is broadly known as a perm and is popular for creating long-lasting curls or waves in hair. Thioglycolic acid is also widely used to chemically break down hair fibers to remove unwanted hair by simply wiping it from the skin. The demand for hair care and hair removal products continues to rise globally.
Negative effect on human health
The negative effects on human health of thioglycolic acid are inhalation, ingestion, and absorption through the skin, which are anticipated to projected to hamper the market's growth. Thioglycolic acid is a corrosive chemical and is on the Hazardous Substance List as it is cited by DOT, ACGIH, and NIOSH. The acute short-term health effects after exposure to thioglycolic acid, such as contact, can severely irritate and burn the skin or may result in eye damage.
Breathing thioglycolic acid can cause coughing, wheezing, and shortness of breath. Chronic long-term health effects, such as cancer, reproductive hazards, and other long-term effects, may occur after exposure to thioglycolic acid and can last for longer periods. In order to manage and prevent such hazards strict government regulations on the usage of thioglycolic acid.
Rising demand from oil and gas industry
The increasing demand from the oil and gas industry is projected to offer lucrative opportunities to the thioglycolate market during the forecast period. To protect the equipment or machinery, increase the usage of thioglycolic acid as an additive in corrosion-inhibiting formulations. Corrosion inhibitors are continually injected into the flowing fluid or a production well. During the catalytic cracking of hydrocarbons to reduce the contamination of metal catalysts (e.g., Nickel (Ni), V, and others), Thioglycolic Acid mercaptides are used and act as passivating agents in oil refining.
The ammonium thioglycolate segment held the largest share of the thioglycolate market in 2023 and is expected to sustain the position throughout the forecast period. The rapid growth of the segment is attributed to the increasing use of hair care products. As a stabilizer against oxidation, ammonium Thioglycolate may be used in permanent hair colors, levels up to 0.25%. Ammonium Thioglycolate is generally a key ingredient in hair products such as perms and relaxers, modifying the hair's structure by breaking disulfide bonds, which facilitates the reshaping and restructuring of hair.
This process enables hair to be straightened, permed, and curled. Professionals apply it to achieve the desired cosmetic results, but it is recommended that this chemical be used with care as it can be harsh and may cause damage if not used correctly. Additionally, the rise in the number of beauty and hair salons, along with its adaptability in various hairstyle tasks, has increased the demand for ammonium Thioglycolate.
The calcium thioglycolate segment is expected to grow significantly in the thioglycolate market during the forecast period, owing to the increasing demand for depilatory creams. Excessive body hair has become a problem maintaining beauty standards for both men and women. Calcium thioglycolate is an active ingredient in hair removal products. Unwanted body hair, particularly on areas like legs and arms, has made depilatory creams highly popular among beauty-conscious individuals. Depilatory creams can break down hair proteins and enable hair removal. These chemical depilatories ensure a convenient, inexpensive, and painless method for temporary hair removal.
The hair care & cosmetic product segment accounted for the largest share of the thioglycolate market in 2023 owing to the rising demand for depilatory products and continuous improvements in formulations. Thioglycolate is extensively used in hair care and cosmetic products. The main ingredient in hair removal creams is Thioglycolic Acid (TGA). A depilatory agent can be formulated as a lotion, gel, or cream. Depilatory creams provide an efficient and convenient method for hair removal of unwanted hair.
Thioglycolic Acid acts as a peeling agent in skin care. Its exfoliating properties assist in removing dead skin cells and promoting smoother skin texture. Thioglycolic Acid is effective in altering hair texture, allowing it to take on a new shape and offering consumers diverse options for hair styling and grooming. It is gaining immense popularity among fashionholic individuals for creating long-lasting curls, straightening, or waves in hair.
The pharmaceutical segment will witness considerable growth in the thioglycolate market over the forecast period. The rapid segment’s growth is driven by the increasing manufacture of pharmaceuticals. Thioglycolic Acid (TGA) serves as a key ingredient in topical products for skin conditions and as a stabilizing agent in drug formulation processes.
Segments Covered in the Report
By Product
By Application
By Geography
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