Thioglycolates are extensively used in consumer products, such as hair care and skincare products. Changing beauty perception and rising spending power drives the market growth. Emerging economies, such as India and Brazil, are channelizing efforts to accelerate FDI and formulating favorable initiatives. Cosmetic companies are heavily investing in brand marketing and attractive packaging to boost the sales of cosmetics, further driving the demand for thioglycolate.
The Middle East is projected to witness healthy growth during the forecast period on account of the diversity of the population and surging spending power. In addition to this, the oil and gas companies in the Middle East are actively working to diversify their income sources, providing lucrative opportunities to the emerging players in the thioglycolate market.
Impact of COVID-19
The emergence of COVID-19 has compelled the governments to impose lockdowns and shut the international trade, further decelerating the demand for cosmetics products and oil and gas. However, the cosmetic industry is projected to be a dominant end-user in the market. The demand for oil and gas is expected to witness a hike post-COVID-19.
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Thioglycolate Market: Segmentation
By Product Type
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now