Thioglycolic acid or TGA is a kind of colorless liquid that can be mixed with the polar organic solvents. TGA is also known as mercaptoacetic acid (MAA). The higher demand for high-quality TGA could be seen in the leather processing chemicals, oilfield chemicals, and PVC heat stabilizer applications. Besides, its increasing demand in the beauty and personal care products divisions is probably going to increase the market development in the imminent years. Changing ways of life of the consumers and their recognitions towards individual prosperity is required to fuel the interest for TGA. The quick boom seen in the expendable income and demographics of these customers is foreseen to decidedly influence the market. The global thioglycolic acid market is anticipated to exhibit a growth rate of 3.8% CAGR from 2018- 2023 (forecast period).
The global thioglycolic acid market is segmented on the basis of its type, application and regional demand. Based on its type, the global thioglycolic acid market is classified on the basis of low purity grade, technical grade, and high purity grade. On the basis of its applications, the global thioglycolic acid market is bifurcated into agrochemicals, oilfield chemicals, leather processing chemicals, PVC heat stabilizer, cleaning formulation, metals recovery, chain transfer agent, and others.
Geographically, the global thioglycolic acid market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Qingdao LNT Chemical Co. Ltd. (China), Thermo Fisher Scientific, Inc. (U.S.), Arkema Inc. (France), and Tokyo Chemical Industry Co. Ltd. (Japan), Bruno Bock Chemische Fabrik GmbH & Co. KG (Germany), Daicel Corporation (Japan), Merck KGaA (Germany), among others are some of the major players in the global thioglycolic acid market.