Market Reports on Saudi Arabia Provides the Trending Market Research Report on “Saudi Arabia Sodium Thiosulphate Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” under Saudi Arabia Chemical and Materials Market category. The Saudi Arabia Sodium Thiosulphate Market is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
The Saudi Arabian Sodium Thiosulphate Market is estimated to witness a moderate growth, at an estimated CAGR of over 2%, over the forecast period. The major factor driving the growth of the market studied is the growing use of sodium thiosulfate in gold leaching applications.
– Concerns regarding side effects of the intravenous sodium thiosulfate administration is expected to hinder the growth of the market studied.
– Emerging use of sodium thiosulfate in the medical industry is likely to create opportunities in the future.
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Key Market Trends
Increasing Demand from Water Treatment Applications
– Sodium thiosulfate can be used as a dechlorination agent for swimming pools and aquariums and within water treatment plants to treat settled backwash water prior to release into rivers.
– Sodium thiosulfate reacts with the chlorine in chlorinated water by neutralizing it, thus, making the water safe. Standard tap water usually has a chlorine content of around 3-4 ppm chlorine, this level can be toxic to pond or aquarium fish, so treatment of tap water is always essential before replacing pond or aquarium water.
– Saudi Arabia has emerged as a rapidly growing energy consumer in the Middle Eastern region. The expensive national industrialization program, in addition to rapid urbanization, has led to an increase in the demand for power by 7-10% year-on-year. Many new power generation projects are in the offing, which, in turn, are expected to augment the demand for water treatment applications in the country.
– Many investments and collaborations in petrochemical sector are ongoing in the country, which are expected to provide opportunities for the growth of the water treatment applications market in the future.
– Saudi Aramco and SABIC have also signed a memorandum of understanding to build a complex worth USD 20 billion to convert crude oil into chemicals in the country. The operation is expected to start in 2025, processing around 400 thousand barrels per day of crude oil to produce about 9 million metric ton of chemicals.
– Overall, the water treatment segment is estimated to witness a steady growth during the forecast period.
The Saudi Arabian sodium thiosulfate market is fully import-based, with no production base in the country. The Saudi Arabian sodium thiosulfate market is dominated by distributors who markets the products developed by other manufacturers in Saudi Arabia. Major players in the market include Saudi (Overseas) Marketing & Trading Company (SOMATCO), Fouz Chemical Co., AquaChemie, and Chemsol, among others.
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