Thiosulphates Market

The global thiosulphates market is anticipated to experience growth in both consumption and value over the period from 2022 to 2030, with a forecasted CAGR of +2.9% and +4.2% respectively. The market saw a rise in consumption volume in 2022, reaching 236K tons, with the highest consuming countries being Germany, Mexico, and Canada. Production of thiosulphates increased in 2022 to 282K tons, with China, the United States, and France leading in production. Imports and exports of thiosulphates also showed growth, with significant increases seen in some key countries like Lithuania, France, and China. Pricing trends varied by country, with Argentina having the highest import price in 2022 and the Netherlands having the highest export price. Overall, the global thiosulphates market is expected to continue its upward trajectory in the coming years.

Market Forecast

Driven by increasing demand for thiosulphates worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market volume to 297K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.2% for the period from 2022 to 2030, which is projected to bring the market value to $205M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Thiosulphates

In 2022, global consumption of thiosulphates rose slightly to 236K tons, growing by 4.5% compared with the year before. The total consumption volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 9.8% against the previous year. As a result, consumption reached the peak volume of 240K tons. From 2020 to 2022, the growth of the global consumption remained at a somewhat lower figure.

The global thiosulphates market revenue surged to $147M in 2022, jumping by 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked in 2022 and is expected to retain growth in the near future.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Germany (36K tons), Mexico (31K tons) and Canada (27K tons), with a combined 40% share of global consumption. Uruguay, South Korea, Australia, the United States, Ukraine, the UK, Argentina, Vietnam, China and Turkey lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Australia (with a CAGR of +44.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest thiosulphates markets worldwide were Germany ($18M), Canada ($13M) and Mexico ($13M), with a combined 30% share of the global market. Australia, Uruguay, South Korea, Ukraine, the United States, Argentina, the UK, Turkey, Vietnam and China lagged somewhat behind, together accounting for a further 31%.

Among the main consuming countries, Australia, with a CAGR of +48.7%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of thiosulphates per capita consumption was registered in Uruguay (5,226 kg per 1000 persons), followed by Canada (692 kg per 1000 persons), Australia (463 kg per 1000 persons) and Germany (432 kg per 1000 persons), while the world average per capita consumption of thiosulphates was estimated at 30 kg per 1000 persons.

From 2012 to 2022, the average annual rate of growth in terms of the thiosulphates per capita consumption in Uruguay stood at +40.9%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Canada (+16.2% per year) and Australia (+41.9% per year).

Production

World Production of Thiosulphates

For the sixth year in a row, the global market recorded growth in production of thiosulphates, which increased by 4% to 282K tons in 2022. The total output volume increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 12% against the previous year. Over the period under review, global production attained the peak volume in 2022 and is likely to see gradual growth in the near future.

In value terms, thiosulphates production fell slightly to $130M in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 20% against the previous year. Global production peaked at $132M in 2021, and then dropped slightly in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (87K tons), the United States (64K tons) and France (48K tons), together accounting for 71% of global production.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +34.6%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Thiosulphates

In 2022, global thiosulphates imports totaled 235K tons, increasing by 14% against 2021. In general, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +8.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +80.6% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of 24%. Over the period under review, global imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, thiosulphates imports surged to $139M in 2022. Over the period under review, imports enjoyed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

The countries with the highest levels of thiosulphates imports in 2022 were Mexico (31K tons), Canada (27K tons), Uruguay (18K tons), Germany (16K tons), the United States (15K tons), South Korea (13K tons), Australia (12K tons), France (11K tons), Ukraine (7.5K tons), Argentina (7K tons), Belgium (6.3K tons) and the UK (6K tons), together recording 72% of total import. Lithuania (4.4K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +133.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Canada ($14M), Mexico ($13M) and Australia ($8.8M) were the countries with the highest levels of imports in 2022, with a combined 26% share of global imports. Uruguay, the United States, South Korea, Argentina, France, Ukraine, Germany, Belgium, the UK and Lithuania lagged somewhat behind, together comprising a further 41%.

Among the main importing countries, Lithuania, with a CAGR of +86.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average thiosulphates import price amounted to $594 per ton, rising by 22% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($878 per ton), while Germany ($319 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+8.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Thiosulphates

For the sixth consecutive year, the global market recorded growth in shipments abroad of thiosulphates, which increased by 12% to 281K tons in 2022. Overall, exports saw buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 41%. Over the period under review, the global exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, thiosulphates exports soared to $138M in 2022. Over the period under review, exports posted buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports By Country

The biggest shipments were from China (83K tons), the United States (70K tons) and France (56K tons), together amounting to 75% of total export. Belgium (22K tons) took a 7.7% share (based on physical terms) of total exports, which put it in second place, followed by Germany (7.3%). Argentina (11K tons) and the Netherlands (6.9K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +87.7%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest thiosulphates supplying countries worldwide were China ($42M), the United States ($30M) and France ($19M), with a combined 66% share of global exports.

Among the main exporting countries, France, with a CAGR of +61.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average thiosulphates export price stood at $490 per ton in 2022, jumping by 22% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($678 per ton), while France ($345 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform