IMARC Group, a leading market research company, has recently releases report titled “Glycolic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global glycolic acid market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the glycolic acid market?
The global glycolic acid market size reached US$ 425.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 642.8 Million by 2028, exhibiting a growth rate (CAGR) of 7.15% during 2023-2028.
What are glycolic acid?
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.
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What are the growth prospects and trends in the glycolic acid industry?
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.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
Who are the key players operating in the industry?
The report covers the major market players including:
- 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
- Zhonglan Industry Co. Ltd
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