Press
Release

Valuation of Glycolic Acid Market to Reach ~USD 527 Million by 2027: TMR

• – Growth opportunities for players are arising in textile industry (for use of product as tanning & dying agent)
• – In terms of both value and volume, APAC will account for a sizeable share of the market
• – From 2019 to 2027, global glycolic acid market would growth at a CAGR of about 7%

Transparency Market Research, New York: Used extensively across varied industry verticals such as food and beverages, oil and gas, electronics, beauty and personal care, and textile, glycolic acid market is set to witness an increase in demand over the forecast period of 2019 to 2027. A number of growth factors will help the global glycolic acid chart a notable trajectory.

As per Transparency Market Research, “Exponential growth will be noted in the personal care and cosmetics segment, driving up demand for glycolic acid, which is used in a number of hair care and facial care products. Increase in disposable income and growing focus on youthful and healthy experience will support growth in the segment over the forecast period. Role of social media influencers is also playing a crucial role here as they are setting a new standard of normal in terms of beauty, driving up demand for moisturizers and exfoliators.”

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Key Findings of Global Glycolic Acid Market Study:

• – It is anticipated that in the application category, sizeable share of the market will be accounted for by personal care and cosmetics segment
• – Over the forecast period, moderate growth is expected in the leather dying and tanning segment under the application category
• – Asia Pacific (APAC) region is anticipated to command the dominant share of the market

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Key Drivers of Growth in Global Glycolic Acid Market:

• – Notable increase in demand for cosmetics and personal care products is being seen and that is pushing market forward
• – Increase in geriatric population and in disposable incomes is contributing to higher demand for cosmetic and personal care products
• – Rapid industrialization is paving way for higher need to maintain equipment, driving demand for glycolic acid as it is used here as hard surface cleaner
• – Increase in investments in textile sector is anticipated to fuel growth in the leather industry, where glycolic acid is used as a dying and tanning agent
• – Demand for polyglycolic acid (PGA) is set to increase in the medical setting for manufacture of absorbable sutures, driving market for glycolic acid forward

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Regional Analysis of Global Glycolic Acid Market:

• – The Asia Pacific (APAC) region will emerge as a lucrative market over the forecast period
• – In 2018, the aforementioned region dominated global market both in terms of volume and value
• – Factors supporting this growth include improvement in standard of living owing to increase in disposable income, increase in population, and growth in e-commerce
• – China and India will be significant contributors to regional growth owing to rapid industrialization

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Competitive Landscape of Global Glycolic Acid Market:

The global glycolic acid market is witnessing its players deploying a range of growth strategies to chart growth. These include entering into joint ventures, increasing and improving upon research and development activities, forging key alliances, and so on. Top-tier players in global glycolic acid market are The Chemours Company, Phibro Animal Health Corporation, CABB Group GmbH, China Petroleum & Chemical Corporation (SINOPEC), Shandong Xinhua Pharmaceutical Co.Ltd., CrossChem LP, Avid Organics, Zhonglan Industry Co., Ltd., Water Chemical Co., Ltd, Hebei Chengxin Co., Ltd., Hefei TNJ Chemical Industry Co.Ltd., and Saanvi Corp., among others.

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Global Glycolic Acid Market: Segmentation

Glycolic Acid Market, by Grade

• – Glycolic Acid ≤68%
• – Glycolic Acid 70%
• – Glycolic Acid ≥99%

Glycolic Acid Market, by Application

• – Personal Care & Cosmetics
  • – Hair Care
  • – Skin Care
  • – Others (including Nail Care and Dental Care)
• – Plant Growth Stimulation
• – Food Flavoring & Preservation
• – Polyglycolic Acid (PGA) Manufacturing
• – Cleaning Agent
  • – Household
  • – Industrial
  • – Institutional
• – Electronics
• – Oil & Gas
• – Leather Dyeing & Tanning
• – Others (including Biomedical & Drug Delivery and Gas Barrier Packaging)

Glycolic Acid Market, by Region

• – North America
  • – U.S.
  • – Canada
• – Europe
  • – Germany
  • – U.K.
  • – France
  • – Italy
  • – Spain
  • – Russia & CIS
  • – Rest of Europe
• – Asia Pacific
  • – China
  • – Japan
  • – India
  • – ASEAN
  • – Rest of Asia Pacific
• – Latin America
  • – Brazil
  • – Mexico
  • – Rest of Latin America
• – Middle East & Africa
  • – GCC
  • – South Africa
  • – Rest of Middle East & Africa

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