The global glycolic acid market size reached a value of US$ 398 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 599 Million by 2027, exhibiting a CAGR of 7.28% during 2022-2027.
Glycolic acid (C2H4O3) stands for an alpha hydroxy acid (AHA) that is derived from various plants, including grapes, sugar beets, pineapple, etc. It is colorless, odorless, soluble in water, non-volatile, etc. Glycolic acid is commonly utilized as an exfoliant in skincare products, such as cleansers, moisturizers, serums, face masks, etc., to prevent acne, fade hyperpigmentation, remove dead skin cells, etc. It is used in leather tanning, textile and metal processing, fabric dyeing, printing, etc. Apart from this, it also finds applications as an etching agent in oil well operations.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Glycolic Acid Market Trends:
The increasing influence of social media, inflating income levels, and growing focus on physical appearances are driving the demand for skin care products, which is primarily augmenting the glycolic acid market. Moreover, glycolic acid is also utilized in the food and beverage (F&B) industry as a preservative, flavoring agent, and adhesive for packaging products. In addition to this, increasing environmental concerns are encouraging the manufacturing of economic and biodegradable cleaning products, which utilize glycolic acid. Additionally, several key manufacturers are investing in research and development (R&D) activities to improve product efficacy and effectiveness. Furthermore, the rising usage of glycolic acid in the production of biomedical devices, such as staples, sutures, implants, meshes, etc., is expected to fuel the global glycolic acid market in the coming years.
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Glycolic Acid Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Avid Organics, CABB Group GmbH, China Petrochemical Corporation, CrossChem Limited, Mehul Dye Chem Industries, Merck KGaA, Parchem fine and specialty chemicals, The Chemours Company, Tokyo Chemical Industry Co. Ltd, Water Chemical Co. Ltd and Zhonglan Industry Co. Ltd.
The report has segmented the market on the basis on source, purity level and application.
Breakup by Source:
- Synthetic
- Natural
Breakup by Purity Level:
- 99% Purity
- 70% Purity
- 60% Purity
- 30% Purity
- Others
Breakup by Application:
- Personal Care and Cosmetics
- Household
- Textile
- Food Processing
- Pharmaceuticals
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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