What are the main price drivers for ammonium thioglycolate in the Chinese market?

What are the main price drivers for ammonium thioglycolate in the Chinese market?
Ammonium thioglycolate is produced from thioglycolic acid, which itself is made via sodium hydrosulfide routes. Chinese thioglycolic acid producers have historically lagged foreign peers in scale and purity, with high-purity grades largely imported. That upstream gap directly affects ammonium thioglycolate cost structure: domestic material tends to be cheaper but less consistent in quality, while imported material commands a premium. Feedstock sulfur prices and energy costs are the primary variable inputs. On the demand side, the cosmetic sector—hair perming and straightening products—is the main consumer, and its growth is tied to discretionary spending and salon activity. Regulatory pressure on hair treatment chemicals, especially regarding odor and skin sensitivity, is pushing formulators toward purer grades, which shifts the demand mix toward higher-cost material. Trade flows also matter: China exports some thioglycolate derivatives, so global demand from North America and Europe influences domestic pricing.