Sodium Thiosulphate (Cas 7772-98-7) Market

Sodium Thiosulphate (Cas 7772-98-7) Market Synopsis

Sodium Thiosulphate (Cas 7772-98-7) Market Size Was Valued at USD 108.4 Million in 2023, and is Projected to Reach USD 175.51 Million by 2032, Growing at a CAGR of 5.5% From 2024-2032.

Described reagent Sodium thiosulphate is chemical compound having the cas number 7772-98-7, which exists in the form of white crystalline powder that is soluble in water, and can be used in industrial and pharmaceutical industries. The reagent is usually found as an anhydrous or pentahydrate compound with sodium thiosulphate pentahydrate being more amenable to use because of its mechanics of use. This compound is an odorless, non-hygroscopic solid that is quite polar and readily soluble in water. Applications of sodium thiosulphate include, dechlorination, the gold mining business, photographic processing of both films and papers, and in analytical chemistry for titrations. It is also used in medical therapy in treating cases of cyanide intoxication and in some skin diseases such as eczema. The sodium thiosulphate market has evolved over time owing to qualitative growth due to its application in numerous chemical processes, the requirements for pharmaceutical industries and environmental management.

The market for sodium thiosulphate has been expanding rapidly at the global level owing to various uses in various fields. This compound is commonly applied in chemical, medical, mining and environmental sectors. Due to its increasing use, there has been enhancement of production capacities by various producers to aid in meeting the requirements of the consumers in the industrial sector. The chemical has the applicability in many industries, including, but not limited to gold mining processes that use the chemical as an eco-friendly substitute to cyanide. Secondly, there is an increase in demand for sodium thiosulphate in the pharmaceutical industry needed for such treatment as cyanide poisoning and cure of some skin diseases. Rising consciousness for eco-friendly and safer chemical application in gold mining and other related industrial processes will continue to promote market growth in the forward outlook.

Market growth to is attributed to analytical chemistry area, which uses this product for titrations to determine the concentration of oxidizing agents in the solution. Due to its bleaching action and its ability to neutralize chlorine, sodium thiosulphate has importance in water treatment works. As the level of understanding of the utilization of sodium thiosulphate in several sectors improves, together with prompts from the regulation encouraging its secure application, a growing tendency in the chemical market can be predicted. Further, advancements in manufacturing technologies over the years have availed sodium thiosulphate to various user markets, and therefore has encouraged growth in new/trending markets.

Sodium Thiosulphate (Cas 7772-98-7) Market Outlook, 2023 and 2032: Future Outlook

Sodium Thiosulphate (Cas 7772-98-7) Market Trend Analysis

Trend: Shift Towards Eco-Friendly Applications

One of the biggest trends is that manufacturers are giving preference to the use of Sodium thiosulfate that is environmentally friendly and sustainable. Sodium thiosulphate has come out as a favourable compound in industries such as mining, water treatment, and photography because of its relatively environmentally friendly properties relative to other compounds. In gold processing, sodium thiosulphate is gradually replacing cyanide, which is a hazardous chemical and is an important concern to the environment and safety. Discussed below are some of the factors that lead to this shift mentioned above: Social factors include; The global search for more sustainable methods of mining and expansion of environmental protection laws to many nations. In dilution, sodium thiosulphate is also applied in water treatment as well as in the treatment of wastewaters whereby it enables it to remove chlorine in order to minimize on the release of poisonous chemicals into the atmosphere. Thus, with the help of technological advances that help improve the efficacy sodium thiosulphate, and with the growth of sustainable practices across a number of countries, this chemical is poised to become even more entrenched in those markets.

Driver: Growing Demand for Environmentally Friendly Alternatives

The key factor that has been a catalyst for the growth of sodium thiosulphate is the worry most industries have expressed in their move towards environment friendly products over conventional chemical reagents especially in gold extracting processes . This process is more favourable as compared to cyanide sodium thiosulphate because the substance is non toxic and has less effect on the environment. Since sustainability is now the main subject of most industries, industries are now coming up with safer chemicals that harm the environment less. The versatility of sodium thiosulphate to substitute potentially dangerous different materials in different operational uses like gold mining, water purification or in photographic industry has also increased the demand. Additionally, governments across the globe are increasing enforcement of laws protecting the environment and because of this the global outlook for more environmentally friendly chemicals such as sodium thiosulphate is on the rise and leading companies into the shift.

Restraint: Limited Awareness and High Production Costs

The lack of awareness of this market product, especially with regards to available Sodium Thiosulphate applications, is one of the most apparent challenges that exist. Yet, the phenomenon of sodium thiosulphate application in industries of developed countries is well understood, while the experience of industries of countries that have not yet integrated the use of this product is still insufficient. This lack of awareness can stall the development of the market, for instance in the areas of water treatment and analytical chemistry. Also, the manufacture of sodium thiosulphate can be expensive, especially for the special fine grades commonly used in the medical and analysis industries. The high costs of production may come from the complex manufacturing and purification processes as well as varying costs of raw materials; that makes manufacturing a bit expensive, which tells us that although it can be useful, it may not necessarily be cost-effective for all industries to consider it in carrying out their processes.

Opportunity: Expansion of Medical Applications

A breakthrough chance in the development of the sodium thiosulphate market is that new uses for it in medicine are being discovered. Sodium thiosulphate is slowly gaining popularity with regards to therapeutic effects, including use in diseases like cyanide poisoning and in the recent past for skin conditions like eczema. The specifically high market growth potential can be explained by the fact that more investigations are being conducted for finding out other therapeutic application of this compound. Also, since the medical industry is constantly developing, and the need for effective treatments increases internationally, the use of sodium thiosulphate in medical applications should also enhance in the future. This is a nice chance for manufactures to expand their product portfolio and enter the growing healthcare sector.

Sodium Thiosulphate (Cas 7772-98-7) Market Segment Analysis

Sodium Thiosulphate (Cas 7772-98-7) Market Segmented on the basis of type, application.

By Type

o   Sodium Thiosulphate Anhydrous

o   Sodium Thiosulphate Crystals

o   Sodium Thiosulphate Pentahydrat

o   Other

By Application

o   Analytical Chemistry

o   Medical

o   Photography

o   Other

By Region

o   North America (U.S., Canada, Mexico)

o   Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

o   Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

o   Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)

o   Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)

o   South America (Brazil, Argentina, Rest of SA)

By Type, Sodium Thiosulphate Anhydrous segment is expected to dominate the market during the forecast period

On the basis of type, the sodium thiosulphate anhydrous segment is estimated to lead the market throughout the forecast period. Sodium thiosulfate anhydrous has high stability and can be used in various going through processes and applications including extraction of gold. Sodium thiosulphate anhydrous is in demand for use in industries where industries where dry and concentrated chemicals are needed. This form of sodium thiosulphate is particularly advantageous in those areas where moisture can easily affect the reactivity of the compound. In addition, this type is preferred due to its transportability and stability, which have led to the type occupying the largest market share. Analyzing the trends required in the industrial segments, the sodium thiosulphate anhydrous segment is anticipated to sustain its position in the market as sectors look for better and stable chemical solutions.

Thus, the growth of this segment is expected it due to the persistent and growing need for sodium thiosulphate anhydrous in water treatment, analytical chemistry and gold mining industries. The favourable characteristics combined with the application flexibility of anhydrous sodium thiosulphate make it continue occupying an important position in the sodium thiosulphate market. Moreover, the high demand for pure chemicals, along with constant enhancements of manufacturing processes of the tied manufacturers, will guarantee the superior market position of anhydrous sodium thiosulphate for the entire time of the forecast.

By Application, Analytical Chemistry segment expected to held the largest share

The analytical chemistry segment is expected to dominate this sodium thiosulphate market due to its size and the nature of applications during the forecast period. Sodium thiosulphate is used extensively in analytical chemistry A common reaction of sodium thiosulphate is its use in titrations particularly in the determination of oxidising agents including chlorine. The specific peroxide reactivity and reducing agent activity of the compound make it useful in numerous laboratory applications. Pharmaceutical and chemical industries, food and beverages, and environmental monitorage are some of the end users of sodium thiosulphate that will fuel demand in analytical application. The analytical chemistry segment will therefore remain dominant in the sodium thiosulphate market because of growing demand for efficient chemical testing methods.

Similarly, the greater focus on automation of laboratory services and accuracy of chemical testing also has potential for the growth of this segment. Of the uses of sodium thiosulphate in analytical chemistry it can also be used in to augment laboratory analysis other than titrimetry such as spectrophotometry. A critical application that continues to grow is in modern chemical analysis, thereby being instrumental to the growth of the analytical chemistry segment under sodium thiosulphate market.

Sodium Thiosulphate (Cas 7772-98-7) Market Regional Insights

North America is Expected to Dominate the Market Over the Forecast period 

From the periodic descriptive provided for different regions, it will be seen that in the year 2023, the North American market will control a large market share of the sodium thiosulphate market. This is due to the increased use of sodium thiosulphate in mining, Water treatment industries and analytical chemistry industries. This research established that sodium thiosulphate has gained popularity in the region, since the industrialisation of the region coupled with a consideration of green practices there has always sought after safer items to replace the dangerous cyanide in the extraction of gold. Current application and research domains have additionally disclosed the role played by countries in the US and Canada in the protruding of growth in this market. According to the current assessment, the region has a market share of over 30% in sodium thiosulphate global consumption by 2023; North America continues to lead the market.

Sodium Thiosulphate (Cas 7772-98-7) Market Share, by Geography, 2023 (%)

Active Key Players in the Sodium Thiosulphate (Cas 7772-98-7) Market

o   AkzoNobel (Netherlands)

o   Asahi Kasei Corporation (Japan)

o   China National Petroleum Corporation (China)

o   FuJian JiuLong Chemical (China)

o   Gujarat Alkalies and Chemicals Limited (India)

o   Hanwa Chemical Corporation (South Korea)

o   Honeywell International Inc. (U.S.)

o   INEOS Group (Switzerland)

o   Lanxess AG (Germany)

o   Nanjing Chemicals (China)

o   PVS Chemicals Inc. (U.S.)

o   Shandong Xinye Chemical Co., Ltd. (China)

o   Solvay S.A. (Belgium)

o   Sumitomo Chemical Co., Ltd. (Japan)

o   The Dow Chemical Company (U.S.)

o   Other key Players

Global Sodium Thiosulphate (Cas 7772-98-7) Market Scope