According to the report by Expert Market Research (EMR), the global glycolic acid market size is projected to grow at a CAGR of 7.1% between 2024 and 2032. Aided by the glycolic acid’s widespread applications in various sectors, notably in skincare and industrial manufacturing, the market is expected to grow significantly by 2032.
Glycolic acid, a type of alpha-hydroxy acid (AHA), is derived from sugar cane and is renowned for its exfoliating properties. It is widely used in skincare and cosmetic products, including face washes, creams, and peels. In the industrial sector, glycolic acid finds applications in cleaning agents, dyeing and tanning processes, and in the textile industry. Its ability to penetrate the skin and assist in collagen production makes it a favourite in anti-aging products.
The skincare and cosmetics sector is the primary driver of the glycolic acid market growth. The rising consumer awareness about skin health and the growing demand for anti-aging products are major factors propelling this market. Additionally, the increasing preference for non-invasive dermatological treatments and natural ingredients in skincare regimes is boosting the demand for glycolic acid-based products.
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In the industrial sector, the versatility of glycolic acid as a cleaning agent and its applications in textile and leather tanning processes further contribute to the glycolic acid market demand. Moreover, its biodegradability makes it an attractive component in environmentally friendly cleaning products.
Regionally, North America and Europe dominate the market, attributed to their advanced skincare and cosmetic industries and consumer awareness regarding skin health. The Asia-Pacific region is also witnessing significant growth, driven by the expanding cosmetics sector and increasing disposable incomes.
Global glycolic acid market outlook is expected to be influenced by various factors, especially with the ongoing research and development in the cosmetic industry to create more advanced, effective, and safer skin care products. Additionally, the growing inclination towards environmentally friendly industrial cleaning agents is likely to open new avenues for the glycolic acid market.
The market is set for robust growth over the next five years, driven by its increasing applications in skincare, cosmetics, and industrial processes. With technological advancements and a focus on sustainable and safe products, glycolic acid will continue to be a key ingredient in various industries, offering vast potential for market players.
Glycolic Acid Market Segmentation
The market can be divided based on grade, application, and region.
Market Breakup by Grade
- Cosmetic
- Technical
Market Breakup by Application
- Personal Care
- Household
- Industrial
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Glycolic Acid Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global glycolic acid market. Some of the major players explored in the report by Expert Market Research are as follows:
- Jiaxing Jilat Chemical Co., Ltd.
- Avid Organics Pvt. Ltd.
- China Petrochemical Corporation
- Water Chemical Co., Ltd
- Zhonglan Industry Co.,Ltd.
- The Chemours Company
- CABB Group GmbH
- Shandong Xinhua Pharmaceutical I&E Co.,Ltd
- Phibro Animal Health Corporation
- Hefei TNJ Chemical Industry Co.,Ltd.
- Spectrum Chemical Mfg. Corp.
- Merck KGaA
- CrossChem Limited
- Others
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