The global sodium thiosulphate market is slated to witness positive growth over the next seven years on account of extremely high demand from numerous end-use industries. Medical industry has witnessed high growth over the last few years and is further expected to grow over the forecast period. Sodium thiosulphate is used as calciphylaxis treatment in hemo dialysis, an antidote for poisoning through cyanide, extravasations management during chemotherapy, measuring the extra cellular body fluid volume, measuring the rate of renal glomerular filtration and as an antifungal for ringworm treatment. This is expected to boost its demand over the next seven years. It is used as a photographic fixer for films as well as photographic paper. Photographic processing industry has seen significant growth in the recent past. This trend is likely to aid the global market over the forecast period. Rise in disposable income along with increasing living standards is slated to boost the global gold consumption.
Sodium thiosulphate is highly used in gold extraction processes. This chemical is also used as a substitute lixiviant for cyanide. Sodium thiosulphate in iodometry is used as a measuring agent for oxygen in water for approximating compounds which include hydrogen peroxide. This is touted to bolster the overall sodium thiosulphate market over the forecast period. Growing health concern among consumers is said to aid the overall market over the next seven years. Water treatment industry is another important end-use industry. It is used for reducing the chlorine level and for treating settled backwash water which are used in swimming pools, spas and aquaria.
Other important end-use applications of sodium thiosulphate include hand warmers, chemical in heating pads, bacteriological water treatment, leather tanning, super cooling, patina recipes for copper alloy and as an ionic surfactant for aiding during depression. Prominent industry contributors have invested profoundly in R&D initiatives to develop better-quality and cost effective products with reduced prices and less to zero hazardous impacts. Emerging technological advancements on account of mature nature of the market is slated to aid the global sodium thiosulphate market.
Asia Pacific has surfaced as the foremost market for sodium thiosulphate utilization in the recent past. This can be accredited to the ever increasing demand from the medical, water treatment and photographic processing industry over the next seven years. China has dominated the regional market on account of extremely high demand from the water treatment industry. However, China’s growth is dependent on raw material such as sodium and thiosulphate anion. Countries such as India, Vietnam, Korea, Thailand, Malaysia and Indonesia are expected to witness rapid growth due to growing end-use applications demand over the next seven years. North America has narrowly followed Asia Pacific with regards to expanding demand for end-use functions and medical applications in the pharmaceutical industry. The U.S. which has a massive pharmaceutical products demand has guided to such a tendency. Africa is predicted to observe rapid growth over the next seven years owing to growing demand from healthcare industry, gold market and chemicals industry. Middle East region is predicted to observe growth in demand owing to increase in demand for the gold and medical industry, thus further boosting the overall regional market. Central & South American region is expected to experience rapid market development over the forecast period. Nations such as Chile Argentina, Brazil and Panama are slated to govern the regional market. Europe is anticipated to witness sluggish growth over the next seven years in comparison to other regions. Presence of stringent environmental guidelines is touted to have direct impact on the overall Europe market.
Prominent industry participants include Esseco SRL, Galactic SA, Allan Chemical Corp., Noah Technologies Corporation, Dastech International Inc., Cell Mark USA LLC, Wego Chemicals & Mineral Corp., Calabrian Corporation, Southern Ionics, D.B. Western Inc., Samirian Chemicals Inc., Ampak Chemicals Inc., Skyhawk Chemicals Inc. and KRONOX Lab Sciences Pvt. Ltd. Galactic SA has emerged as the strongest market participant owing to extremely high production capacity.
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The supply of water treatment chemicals shall witness shortages due to the prevalence of COVID-19 at a pandemic level. The industrial sector as a whole shall register an increase in demand for dewatering equipment, water treatment systems and membranes due to stipulated public health guidelines and greater need for sanitary environment. The report will account for Covid19 as a key market contributor.