The “Glycolic Acid Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Glycolic Acid Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global glycolic acid market size was US$ 307.6 million in 2021. The global glycolic acid market size is forecast to reach US$ 533.2 million by 2030, growing at a compound annual growth rate (CAGR) of 6.3% during the forecast period from 2022 to 2030.
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An AHA found in plants such as grapes, sugar beets, and pineapples are called glycolic acid (C2H4O3). It is water soluble, non-volatile, has no color or smell, and is less combustible. In skincare products such as cleansers, moisturizers, serums, and face masks, it is frequently used as an exfoliator to fight acne, lighten hyperpigmentation, and remove dead skin cells. In addition, it enhances the penetration of other components. They are also utilized in the tanning of leather, fabric dyeing, printing, and processing of textiles and metals. It is also a key component of household cleaning products and is used as an etching agent in oil well operations. In over-the-counter (OTC) creams, lotions, and sunscreens, glycolic acid is used to treat psoriasis, melasma, scarring, skin discoloration, fine lines, and wrinkles.
Factors Influencing Market Growth
The growing population, rising urbanization in emerging economies, and increasing awareness among consumers about the advantages of skincare and wellness products drive the global market.
The rising inclination of consumers toward beauty trends, skincare, and wellness, increasing disposable income and enhancing lifestyles boost the global market growth.
The developing use of glycolic acid in various applications due to its features, including cell recovery and exfoliation fuels the global market.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. During the pandemic, industrial expansion had to impede by the implementation of lockdowns around the world and restrictions on travel and transit. In addition, there were restricted production operations and supply chain disruptions in the global market. The COVID-19 pandemic had a severe impact on the industry due to the closure of retail locations and a drop in demand for cosmetics.
Regional Analysis
The Asia Pacific region garnered a substantial market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the increase in health and personal care awareness among consumers and the rise in consumers purchasing powers in developing countries. In addition, the transforming lifestyle of consumers, the growing adoption of beauty trends, the existence of leading industry participants, and substantial investments in research and development.
Europe is forecast to have considerable growth during the forecast period. As a result of the rising sales of beauty products, such as anti-aging, toners, moistures, and other cosmetic products, and the growing focus of cosmetics players to expand their portfolio of glycolic acid-based products.
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Leading Competitors
The leading prominent companies profiled in the global glycolic acid market are:
Avid Organics
Cabb Group GmbH
China Petrochemical Corporation
Crosschem Lp
Hebei Chengxin Co., Ltd.
Hefei TNJ Chemical Industry Co., Ltd.
Jiaxing Jlight Chemicals Co., Ltd.
Phibro Animal Health Corp.,
Saanvi Corp
Shandong xinhua pharmaceutical co. Ltd.
The Chemours Company
Velocity Chemicals Ltd.,
Water Chemical Co., Ltd
Xinji City Taida Sinopec Co., Ltd.
Zhonglan Industry Co., Ltd.
Other Prominent Players
Scope of the Report
The global glycolic acid market segmentation focuses on Grade, Application, and Region.
Segmentation based on Grade
Cosmetic Grade
Technical Grade
Segmentation based on Application
Personal Care & Dermatology
Industrial
Household
Others
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Meta Title: Glycolic Acid Market Size, Share, Insight, and Forecast 2022 to 2030
Meta Description: Global Glycolic Acid Market is projected to reach US$ 533.2 million by the end of 2030 from US$ 307.6 million in 2021, at a CAGR of 6.3%
Meta Keywords: glycolic acid market Size, glycolic acid market share, glycolic acid market trend, glycolic acid market Forecast, glycolic acid market insight
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
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