Geographically, Asia Pacific region is expected to lead the sodium thiosulphate market. The growing need for water treatment in nations, such as China, India, Japan, and ASEAN countries, could fuel the market expansion. For gold extraction, sodium thiosulphate is commonly employed. China is the world’s top gold producer. According to the World Gold Council, China will produce 332 metric tons of gold in 2021, accounting for around 9.3% of total global production. The Swachh Bharat Mission (Urban) 2.0, which was launched in October 2021, allotted INR 15,883 crore to states/UTs for wastewater or used water management, including the establishment of STPs and FSTPs (fecal sludge treatment plants). Furthermore, the Government of India promised a package worth INR
New Delhi, Jan. 31, 2023 (GLOBE NEWSWIRE) — Global sodium thiosulphate market is flourishing because of rising incidences of chronic kidney failure disorder and a surging demand of sodium thiosulphate for water treatment.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global sodium thiosulphate market size at USD 104.75 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global sodium thiosulphate market size to grow at a significant CAGR of 6.1% reaching a value of USD 158.02 million by 2029. Major growth factors for global sodium thiosulphate market include increasing product demand in the healthcare and medical industries, growing healthcare and medical sector and advancements in these sectors. Similarly, the rising prevalence of chronic kidney failure illnesses, particularly calciphylaxis, is expected to drive demand for sodium thiosulphate. According to reputable estimates, calciphylaxis affects 1% to 4.5% of dialysis patients, with the majority of patients being diabetic, obese, or suffering from chronic liver disease. For the treatment of calciphylaxis, sodium thiosulphate serves as an antioxidant and calcium chelating agent. Also, developing mining operations in various regions, such as North America and Asia Pacific are paving the way for the sodium thiosulphate market in the coming years. According to Gold.org, global gold mining contributes around 2,500 to 3,000 tons of gold to the total above-ground supply of gold each year. Therefore, these factors are expected to boost the expansion of global sodium thiosulphate market during the period in analysis. However, increasing cost of the raw materials is anticipated to restrain the market growth.
source: globenewswire