Global Glycolic Acid Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Glycolic Acid Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global glycolic acid market report has been segmented on the basis of grade, application, and region
Global Glycolic Acid Market: Overview
Glycolic acid is a naturally occurring substance and is mainly used in skincare products as it offers many benefits. It is used in products such as face washes, cleansers, moisturizer, etc. Glycolic acid is made from colorless crystals and is in powder form with no scent.
Global Glycolic Acid Market: Dynamics
Developing cosmetic industry in developed and developing countries, coupled with increasing adoption of glycolic acid by manufacturers in production of face product such as facial washes and cleansers is a major factor expected to drive growth of the global glycolic acid market. In addition, increasing adoption of facial products with glycolic acid content from consumers suffering from dull, pigmented or aging skin is expected to further support growth of the global market.
Moreover, increasing adoption of glycolic acid in preparation of additives and emulsion polymer that have applicability in paints and ink industry is another factor expected to further boost growth of the global glycolic acid market. In addition, developing agriculture sector in emerging economies, coupled with adoption of glycolic acid in agriculture products is expected to further support growth of the global market.
Industrial grade glycolic acid finds wide applicability in various process such as in semiconductor processing, tanning, and leather dying which is another factor expected to support growth of the global market to over the next few years.
However, availability of substitutes and stringent regulatory scenario related to product approval are factors expected to hamper growth of the global glycolic acid market. In addition, side effects of glycolic acid such as skin allergies is lowering the adoption which in turn is expected to challenge growth of the global market to certain extent.
Increasing R&D activities by major players and novel product offerings are expected to create new opportunities in terms of revenue for players operating in target market over the forecast period. In addition, manufacturers approach towards shifting production units to developing countries due to easy availability of raw material and expand their customer base in the untapped market is expected to further support growth of the target market to certain extent.
Global Glycolic Acid Market: Segment
Among the application segments, personal care & cosmetic segment is expected to dominate in the target market over the forecast period.
Global Glycolic Acid Market: Region
The market in North America is expected to dominate in the global glycolic acid market and is expected to continue its dominance over the forecast period. This can be attributed to flourishing cosmetic industry, increasing demand for anti-aging skin care products, and presence of major players operating in countries in this region. In addition, increasing merge and acquisition activities between regional and international players in order to enhance their product portfolio and increase customer base is expected to further support growth of the target market in this region.
The market in Asia Pacific is expected to witness faster growth, owing to increasing demand from agriculture sector, and increasing presence of prominent cosmetic players in emerging economies such as India and China in this region.
Global Glycolic Acid Market Segmentation
Segmentation by grade
- Technical Grade
- Pharmaceutical Grade
- Industrial Grade
Segmentation by application
- Personal Care & Cosmetics
- Industrial Cleaners
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Parchem Trading Ltd.
- Phibro Animal Health Corporation
- Griffin International Limited
- The Chemours Company
- Kureha Corporation
- Vornia Ltd.
- CrossChem LP
- DowDuPont Inc.
- Zhonglan Industry Co., Ltd.
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