Sodium Thiosulphate Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 114.33 Million |
| Market Size (2029) | USD 149.79 Million |
| CAGR (2024 - 2029) | 5.55 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Sodium Thiosulphate Market Analysis
The Sodium Thiosulphate Market size is estimated at USD 114.33 million in 2024, and is expected to reach USD 149.79 million by 2029, growing at a CAGR of 5.55% during the forecast period (2024-2029).
The COVID-19 pandemic affected the sodium thiosulphate market because of supply chain and market disruption. However, the market rebounded back in 2021-2022.
- Over the short term, the growing use of gold leaching and increasing usage in pharmaceutical applications are some driving factors stimulating the market demand.
- On the flip side, concerns about the side effects of intravenous administration are expected to hinder the market growth.
- The emerging use of sodium thiosulphate in the medical industry is likely to create opportunities for the market in the coming years.
- The Asia-Pacific region is expected to dominate the market and is likely to witness the highest CAGR during the forecast period.
Sodium Thiosulphate Market Trends
This section covers the major market trends shaping the Sodium Thiosulphate Market according to our research experts:
Increasing Usage in Water Treatment
- Sodium thiosulfate can be used as a dichlorination agent for swimming pools, aquariums, and water treatment plants to treat settled backwash water before releasing it into rivers. Sodium thiosulfate is a reducing agent or antioxidant, neutralizing free radicals.
- Sodium thiosulphate liquid is used in ballast water treatment systems that work through electrolysis and use sodium hypochlorite as a disinfectant. It works as a neutralizing agent, de-chlorinating the ballast water before discharging it into the sea.
- Sodium thiosulphate promotes the quality of drinking water by removing chlorine or fluorine. Also, sodium thiosulfate crystallin promotes the body's detoxification by providing sulfur to neutralize chlorine and fluorine in water or the body.
- The supply of pure water to households is one of the chief requirements for all governments. The rising scarcity of potable water, coupled with the growing population and increasing water demand, is the primary concern driving the demand for sodium thiosulphate for water treatment applications worldwide.
- With the 2030 Water Resources Group, the Council on Energy, Environment & Water (CEEW) plans to improve wastewater management in India and increase private investments in water treatment chemicals manufacturing companies to build wastewater treatment facilities and raw materials.
- Owing to all these factors, the sodium thiosulphate market may grow globally during the forecast period.
Asia-Pacific Region is Expected to Dominate the Market
- The Asia-Pacific region is estimated to dominate the sodium thiosulphate market during the forecast period. Increasing demand for the water treatment sector in countries like China, India, Japan, and ASEAN is expected to drive market growth.
- Sodium thiosulphate is widely used for gold extraction. China is the largest producer of gold globally. According to the World Gold Council, in 2021, China produced 332 metric tons of gold, accounting for around 9.3% of total global production.
- In December 2021, environmental services company China Everbright Water bagged a wastewater treatment project at the Ji'nan International Center for Medical Sciences in Shandong, China, worth CNY 319.5 million (~USD 49.51 million). The company is expected to mainly provide wastewater treatment services for the municipal wastewater generated in the Taipinghe, Meili, and Emei areas within the Ji'nan Medical Centre area. The project has a concession period of 30 years, including a one-year construction period.
- In India, under the Swachh Bharat Mission (Urban) 2.0, launched in October 2021, INR 15,883 crore (~USD 2,148.18 million) was allocated to states/UTs for wastewater or used water management, including STPs and FSTPs (fecal sludge treatment plants).
- Furthermore, in the Union Budget 2022, the Government of India announced a package of INR 60 lakh crore (~USD 8,11,500 million) to provide drinkable water to every household, thus, boosting the demand for sodium thiosulphate in the country.
- Due to all such factors, the market for sodium thiosulphate in the region is expected to have steady growth during the forecast period.
Sodium Thiosulphate Industry Overview
The sodium thiosulphate market is partially fragmented. Some of the major players in the market include INEOS, Liyang Qingfeng Fine chemical Co. Ltd, Changsha Weichuang Chemical Co. Ltd, Haimen Wuyang Chemical Industry Co. Ltd, and Nissei Corporation, among others (not in any particular order).
Sodium Thiosulphate Market Leaders
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INEOS
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Liyang Qingfeng Fine chemical Co. Ltd
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Changsha Weichuang Chemical Co. Ltd.
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Haimen Wuyang Chemical Industry Co. Ltd.
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Nissei Corporation
*Disclaimer: Major Players sorted in no particular order
Sodium Thiosulphate Market News
- September 2022: Fennec Pharmaceuticals Inc. announced the approval of PEDMARK by the United States Food and Drug Administration (FDA). This approval makes the company's injection the first and only treatment approved by the FDA for hearing loss in pediatric cancer patients.
- August 2022: Fennec Pharmaceuticals Inc. signed an investment agreement with Petrichor Healthcare Capital Management and completed the first closing of USD 5 million of senior secured promissory notes as previously announced. Under the terms of the investment agreement, Fennec Pharmaceuticals would receive an additional fund of USD 20 million from Petrichor on completion of the potential United States Food and Drug Administration (FDA) approval of PEDMARK (a sodium thiosulphate-based formulation) by September 30, 2022.
Sodium Thiosulphate Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Use in the Gold Leaching
4.1.2 Increasing Use in Pharmaceutical Applications
4.2 Restraints
4.2.1 Concerns Regarding Side Effects of the Intravenous Sodium Thiosulphate Administration
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 By Application
5.1.1 Medical
5.1.2 Photographic Processing
5.1.3 Gold Extraction
5.1.4 Water Treatment
5.1.5 Other Applications
5.2 By Geography
5.2.1 Asia-Pacific
5.2.1.1 China
5.2.1.2 India
5.2.1.3 Japan
5.2.1.4 South Korea
5.2.1.5 Rest of Asia-Pacific
5.2.2 North America
5.2.2.1 United States
5.2.2.2 Canada
5.2.2.3 Mexico
5.2.3 Europe
5.2.3.1 Germany
5.2.3.2 United Kingdom
5.2.3.3 Italy
5.2.3.4 France
5.2.3.5 Rest of Europe
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle East and Africa
5.2.5.1 Saudi Arabia
5.2.5.2 South Africa
5.2.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, And Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted By Major Players
6.4 Company Profiles
6.4.1 Ampak Chemicals Inc.
6.4.2 Changsha Weichuang Chemical Co. Ltd
6.4.3 Esseco SRL
6.4.4 Fennec Pharmaceuticals
6.4.5 Haimen Wuyang Chemical Industry Co. Ltd
6.4.6 Ineos
6.4.7 Lakshmi Chemical Industries
6.4.8 Liyang Qingfeng Fine Chemical Co. Ltd
6.4.9 Nilkanth Organics
6.4.10 Nissei Corporation
6.4.11 Sankyo Kasei Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Emerging Use of Sodium Thiosulphate in the Medical Industry
Sodium Thiosulphate Industry Segmentation
Sodium thiosulphate (sodium thiosulfate) is an inorganic compound manufactured by heating sulfur with aqueous sodium hydroxide or aqueous sodium sulfite solution. The sodium thiosulphate market is segmented by application and geography. By application, the market is segmented into medical, photographic processing, gold extraction, water treatment, and other applications. The report also covers the market size and forecast for the sodium thiosulphate market in 15 countries across major regions. For each segment, the market sizing and forecast have been done on the basis of revenue (USD million).
| By Application | |
| Medical | |
| Photographic Processing | |
| Gold Extraction | |
| Water Treatment | |
| Other Applications |
| By Geography | |||||||
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Sodium Thiosulphate Market Research FAQs
How big is the Sodium Thiosulphate Market?
The Sodium Thiosulphate Market size is expected to reach USD 114.33 million in 2024 and grow at a CAGR of 5.55% to reach USD 149.79 million by 2029.
What is the current Sodium Thiosulphate Market size?
In 2024, the Sodium Thiosulphate Market size is expected to reach USD 114.33 million.
Who are the key players in Sodium Thiosulphate Market?
INEOS, Liyang Qingfeng Fine chemical Co. Ltd, Changsha Weichuang Chemical Co. Ltd., Haimen Wuyang Chemical Industry Co. Ltd. and Nissei Corporation are the major companies operating in the Sodium Thiosulphate Market.
Which is the fastest growing region in Sodium Thiosulphate Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Sodium Thiosulphate Market?
In 2024, the Asia Pacific accounts for the largest market share in Sodium Thiosulphate Market.
What years does this Sodium Thiosulphate Market cover, and what was the market size in 2023?
In 2023, the Sodium Thiosulphate Market size was estimated at USD 108.32 million. The report covers the Sodium Thiosulphate Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sodium Thiosulphate Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Sodium Thiosulphate Industry Report
Statistics for the 2024 Sodium Thiosulphate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Sodium Thiosulphate analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
