Glycolic Acid Market - Global Industry Analysis

Glycolic Acid Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Healthcare Report Format : PDF Report Code: ZMR-6760 Status : Upcoming

Description

Global Glycolic Acid Market: Overview

Glycolic acid is a water-soluble α-hydroxy acid (AHA) found in some sugar crops. Glycolic acid is well known owing to its chemical properties and extensively used alpha-hydroxy acids in cosmetics. This α-hydroxy acid is odorless, colorless, and hygroscopic crystalline solid that is highly water-soluble. Glycolic acid has a wide range of applications, in material manufacturing, it is used as a tanning & dyeing agent; in the food & beverage industry it is used as a preservative & flavoring agent; whereas, in pharmaceutical industry utilized it for skincare products.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Glycolic Acid Market: Growth Factors

The global glycolic acid market is growing at a rapid pace. Key factors contributing to the market growth include high demand for glycolic acid from the cosmetic, pharma, and textile sector. All these industries are major consumers of glycolic acid and assure continued demand during the forecast period. Glycolic acid offers several benefits in skincare such as hydrates dry skin, reduces wrinkles & fine lines, fades hyperpigmentation, smoothens & brightens complexion, fights acne, increases penetration of ingredients, and many more. This has spiked up the demand for glycolic acid at a faster pace among the personal care and dermatology industry. In addition to this, glycolic acid is used as a flavoring agent and preservative in the food processing industry. A rapid surge in flavored, canned & processed food in developed regions such as North America and Europe is bolstering the growth of the global glycolic acid market. Moreover, the increase in the adoption of glycolic acid in emulsion polymers, solvents, adhesives, plastics, additives of paints, and floor cleaning products is fostering market growth. However, some of the side effects related to the use of glycolic acid in cosmetic products such as purging, peeling, itching, redness, or irritation may hinder the growth of the global glycolic acid market. On the other hand, an increase in the importance of glycolic acid in the cosmeceutical and pharmaceutical industry is likely to provide excellent growth opportunities over the estimated period.

COVID-19 impact on the global glycolic acid market is low to moderate. This is due to continuous demand for glycolic acid from the pharmaceutical and food & beverage sectors. The pharmaceutical sector remains unharmed during the pandemic period due to the inherent need for drugs. This is why the demand for glycolic acid remained uninterrupted in this sector. On top of this, the food & beverage sector remain operative during the pandemic period with few restrictions to fulfill the unmet demands. This has significantly maintained the demand for glycolic acid in this sector around the world.

Global Glycolic Acid Market: Segmentation

The global glycolic acid market is categorized based on its grade, application, and region. Based on the grade, the global glycolic acid market is bifurcated into cosmetic grade and technical grade. The application segment of the global glycolic acid market is split into personal care & dermatology, industrial, household, and others.

Global Glycolic Acid Market: Regional Analysis

Asia Pacific is expected to be the largest consumer of the global glycolic acid market during the forecast period. Besides, this region is set to register the highest CAGR over the projected period. The rapid growth of the market in APAC is attributed to the increasing use of glycolic acid in engrained pharmaceutical, textile, and food & beverage industries. The pharmaceutical industry in China and India is well developed and many cosmeceuticals & medical products manufactured by these pharmaceutical companies utilize a large amount of glycolic acid. Similarly, the food & beverage and textile industry in the region is rapidly expanding to many small and mid-sized manufacturers, which is also contributing notable revenue in the regional market. North America is expected to be the second-largest regional market. North America is one of the largest glycolic acid producers, also the demand for glycolic acid is high in the local market of the United States and Canada. Both of these countries are major revenue contributors where the US holds the largest share in the North American market. The glycolic acid market in Europe is large and expected to grow at a healthy rate over the forecast period. Food and skincare products are among the largest utilizers of glycolic acid in the European market.  

Global Glycolic Acid Market: Competitive Players

The global glycolic acid market is highly fragmented, key players operating in the market are focusing to offer high-grade glycolic acid to the end-use industry. Some of the major players that are operating in the global glycolic acid market are The Chemours Company, China Petrochemical Corporation, CABB Group, Zhonglan Industry Co., Ltd., Xinhua Pharm, Phibro Animal Health Corporation, Water Chemical Co., Ltd, Avid Organics, Hebei Chengxin Co., Ltd., and Hefei TNJ Chemical Industry Co., Ltd. among others.

Global Glycolic Acid Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

The global glycolic acid market is growing at a rapid pace. Key factors contributing to the market growth include high demand for glycolic acid from the cosmetic, pharma, and textile sector. All these industries are major consumers of glycolic acid and assure continues demand during the forecast period. A rapid surge in flavored, canned & processed food in developed regions such as North America and Europe is bolstering the growth of the global market.

Some of the major players that are operating in the global glycolic acid market are The Chemours Company, China Petrochemical Corporation, CABB Group, Zhonglan Industry Co., Ltd., Xinhua Pharm, Phibro Animal Health Corporation, Water Chemical Co., Ltd, Avid Organics, Hebei Chengxin Co., Ltd., and Hefei TNJ Chemical Industry Co., Ltd. among others.

The Asia Pacific is expected to be the largest consumer of the glycolic acid market during the forecast period. Besides, this region is set to register the highest CAGR over the projected period. The rapid growth of the market in APAC is attributed to the increasing use of glycolic acid in engrained pharmaceutical, textile, and food & beverage industries.

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