The Glycolic Acid Market size was valued at USD 639.07 Billion in 2023 and the total Glycolic Acid revenue is expected to grow at a CAGR of 6.42% from 2024 to 2030, reaching nearly USD 987.89 Billion.
Glycolic Acid Market Overview:
The global glycolic acid market is experiencing robust growth due to its increasing applications across various industries such as cosmetics, personal care, pharmaceuticals, and textiles. Glycolic acid, known for its exfoliating and hydrating properties, is a popular ingredient in skincare products, particularly in anti-aging and acne treatments. Its versatility and biodegradability have also made it a preferred choice in industrial applications, including cleaning agents and chemical intermediates
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Glycolic Acid Market Trends:
One notable trend in the glycolic acid market is its growing adoption in the cosmetics and personal care sector. As consumers increasingly seek natural and effective solutions, glycolic acid-based formulations are gaining traction due to their ability to improve skin texture, reduce pigmentation, and enhance moisture retention. This trend is further amplified by the popularity of chemical peels and exfoliating products in the global beauty industry.
What are Glycolic Acid Market Dynamics?
The glycolic acid market is primarily driven by its widespread application in skincare products, fueled by a growing emphasis on personal grooming and wellness. The increasing use of glycolic acid in hair care products and chemical peels also contributes significantly to market expansion. Additionally, its usage in industrial applications, such as cleaning solutions and coatings, underscores its versatility.
Glycolic Acid Market Opportunities:
The rising demand for eco-friendly and biodegradable solutions presents significant opportunities for the glycolic acid market. Its role in the production of biodegradable polymers aligns with global sustainability goals, creating new avenues in packaging, agriculture, and medical applications. Companies investing in research and innovation in this area are likely to gain a competitive edge.
What is Glycolic Acid Market Regional Insight?
The Asia-Pacific region leads the glycolic acid market, driven by the burgeoning cosmetics industry, rapid urbanization, and rising disposable incomes. Countries such as China, India, and South Korea are major contributors, with significant investments in skincare and personal care products. The region also benefits from the growing use of glycolic acid in industrial applications like textiles and cleaning agents.
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What is Glycolic Acid Market Segmentation?
by Grade
Technical grade
Pharmaceutical grade
Industrial grade
by Application
Personal Care & Cosmetics
Household
Textile
Industrial Cleaners
Agriculture
Others
by Source
Synthetic
Natural
Some of the current players in the Glycolic Acid Market are:
1. China Petrochemical Corporation (Sinopec Corp.), (China)
2. The Chemours Company (U.S.)
3. CABB Group (Germany)
4. Saanvi Corp (India)
5. Parchem Fine & Specialty Chemicals (U.S.)
6. Water Chemical Co., Ltd (China)
7. Shandong Xinhua Pharmaceutical Co., Ltd. (China)
8. Mehul Dye Chem Industries (India)
9. Avid Organics (India)
10. Zhonglan Industry Co., Ltd. (China)
11. Eastman Chemical Company (U.S.)
12. Corbion (Netherlands)
13. CrossChem LP (U.S)
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Key Offerings:
- Past Market Size and Competitive Landscape
- Glycolic Acid Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Glycolic Acid Market Segmentation – A detailed analysis by Product
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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