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In 2022, the market for glycolic acid was estimated to be worth $0.59 billion. According to projections, the market for glycolic acid will increase from USD 0.60 billion in 2023 to USD 2.10 billion in 2030, with a compound annual growth rate (CAGR) of 9.2% over the forecast period (2023–2030). The chemical compound C2H4O3, commonly known as hydroacetic acid, is utilized in a variety of processes, including the tanning and dyeing of textiles, the flavoring and preservation of food and beverages, and the production of anti-aging cosmetics. It is also employed in the production of adhesives and plastics. Due to its features, such as cell recovery and exfoliation, hydroxyacetic acid is increasingly being used in a variety of applications, which is anticipated to fuel market expansion throughout the forecast period.
The chemical compound C2H4O3, commonly known as hydroacetic acid, is utilized in a variety of processes, including the tanning and dyeing of textiles, the flavoring and preservation of food and beverages, and the production of anti-aging cosmetics. It is also employed in the production of adhesives and plastics. Due to its capabilities of cell recovery and exfoliation, hydroxyacetic acid is increasingly being used in a variety of applications, which is anticipated to fuel market expansion over the forecast period. Lactic acid and salicylic acid can both be replaced by hydroacetic acid. As a result, glycolic acid serves as an intermediary step in the synthesis of organic compounds. It is utilized as a monomer to create acid PGA (polyglycolic acid) and other copolymers.
The market will be driven by the rising demand for glycolic acid in the personal care and cosmetics sectors, particularly as a favored ingredient in anti-aging, anti-pollution, and over-the-counter skin care products. Due to its small molecular structure and unparalleled capacity to quickly and efficiently penetrate the skin, it fights many of the harmful impacts of pollution and other anti-aging issues by washing and exfoliating the dead skin layers. Glycolic acid lowers acne breakouts, hyperpigmentation, fine lines, scars, and other age-related skin blemishes or spots in anti-aging and anti-pollution skincare lotions, facial cleansers, gels, and scrubs. In addition to these elements, the market for glycolic acid is anticipated to be driven by the rising demand for over-the-counter skin care products (creams, toners, and masks) based on the ingredient, as well as the expanding market for keratolytic agents as a result of the rise in dermatological diseases. Due to its capacity to soften keratin, the main structural element of the skin, glycolic acid is the keratolytic agent that is most frequently utilized to treat skin disorders. Another one of the major factors influencing the glycolic acid market is the rising acceptance of natural personal care and cosmetic products.
An alpha hydroxy acid with a water base, glycolic acid is most frequently employed as a chemical component in the creation of various cosmetic and personal care products. Glycolic acid is a prominent ingredient for skincare and haircare products due to its organic nature and high exfoliating capability. Skin injury, however, might be a significant hindrance to market expansion. It is normally advised to apply glycolic acid sparingly and in the proper amounts, as doing otherwise might result in serious skin damage and other issues. Regardless of the concentration, the most frequent side effects of using glycolic acid are stinging and burning of the skin. In addition, depending on the amount of glycolic acid included in the product, consumers may experience temporary and/or persistent redness, crusting, scabbing, dryness, flaking, and peeling of the skin. In addition to this, one of the uncommon but dangerous side effects of its use is a change in skin color. In this situation, the skin may appear momentarily lighter or darker. These problems could develop if the glycolic acid concentration is too high or if it stays on the skin for an excessive amount of time. The right quantity of glycolic acid is crucial since it has the ability to penetrate deep under the skin layer and exfoliate the outermost layers of dead skin. The solution grows more potent at greater doses, which are often found in quantities between 5 and 30%. Thus, the manufacturer must pay attention to the solution's concentration when employing the glycolic acid solution as an ingredient in cosmetic items.
There are abundant prospects for market expansion due to the expanding global demand for glycolic acid in the oil and refining sector as a cost-effective cleaning solution. By offering inexpensive metal complexing, hydroxyacetic acid offers cost-effective cleaning. In oil and refinery applications, it improves cleaning and scraping procedures. Additionally, it offers biodegradable metal complexing without increasing the designed products' unwanted chemical oxygen requirement. It does not produce stress-cracking of stainless steel with hydrochloric acid, is easily biodegradable, and is non-volatile. Additionally, it works well in household cleaning goods.
Report Coverage
Global Glycolic Acid research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Glycolic Acid report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Glycolic Acid competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Glycolic Acid market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Glycolic Acid market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Glycolic Acid market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
China Petrochemical Corporation (Sinopec Corp) (China), The Chemours (U.S.), CABB Group (Germany), Saanvi Corp (India), Water Chemical Co. Ltd. (China), Shandong Xinhua Pharmaceutical Co.Ltd (China), Mehul Dye Chem industries (India), Avid Organics (India), Zhonglan Industry Co. Ltd. (China), Eastman Chemical Company (U.S.), Corbion (Netherlands), Crosschem LP (U.S.), Kureha Corporation (Japan), Huizhou Foryou Medical Devices Co., Ltd (China), BMG Incorporated (Japan), Teleflex Inc (US, Shenzhen Polymtek Biomaterial Co., Ltd (China), Huizhou Foryou Medical Devices Co., Ltd (China), Merck KGaA, Phibro Animal Health Corporation, HeBei ChengXin, Hefei TNJ Chemical Industry Co.,Ltd., Jiaxing Jlight Chemicals Co., Ltd., Taida Sinopec CO.,Ltd, Sancaiindustry, Mehul Dye Chem Industries, Siddharth Chlorochem, Velocity Chemicals Ltd., TCI Chemicals (India) Pvt. Ltd., and Parchem fine & speciality chemicals among others.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Glycolic Acid market based on the below-mentioned segments:
Global Glycolic Acid Market, By Purity
Glycolic Acid 99%
Glycolic Acid 70%
Glycolic Acid 30%
Others
Global Glycolic Acid market, By Application
Personal Care & Cosmetics
Household
Textile
Food Processing
Pharmaceutical
Others
Global Glycolic Acid market, Regional Analysis
The chemical compound C2H4O3, commonly known as hydroacetic acid, is utilized in a variety of processes, including the tanning and dyeing of textiles, the flavoring and preservation of food and beverages, and the production of anti-aging cosmetics. It is also employed in the production of adhesives and plastics. Due to its capabilities of cell recovery and exfoliation, hydroxyacetic acid is increasingly being used in a variety of applications, which is anticipated to fuel market expansion over the forecast period. Lactic acid and salicylic acid can both be replaced by hydroacetic acid. As a result, glycolic acid serves as an intermediary step in the synthesis of organic compounds. It is utilized as a monomer to create acid PGA (polyglycolic acid) and other copolymers.
The market will be driven by the rising demand for glycolic acid in the personal care and cosmetics sectors, particularly as a favored ingredient in anti-aging, anti-pollution, and over-the-counter skin care products. Due to its small molecular structure and unparalleled capacity to quickly and efficiently penetrate the skin, it fights many of the harmful impacts of pollution and other anti-aging issues by washing and exfoliating the dead skin layers. Glycolic acid lowers acne breakouts, hyperpigmentation, fine lines, scars, and other age-related skin blemishes or spots in anti-aging and anti-pollution skincare lotions, facial cleansers, gels, and scrubs. In addition to these elements, the market for glycolic acid is anticipated to be driven by the rising demand for over-the-counter skin care products (creams, toners, and masks) based on the ingredient, as well as the expanding market for keratolytic agents as a result of the rise in dermatological diseases. Due to its capacity to soften keratin, the main structural element of the skin, glycolic acid is the keratolytic agent that is most frequently utilized to treat skin disorders. Another one of the major factors influencing the glycolic acid market is the rising acceptance of natural personal care and cosmetic products.
An alpha hydroxy acid with a water base, glycolic acid is most frequently employed as a chemical component in the creation of various cosmetic and personal care products. Glycolic acid is a prominent ingredient for skincare and haircare products due to its organic nature and high exfoliating capability. Skin injury, however, might be a significant hindrance to market expansion. It is normally advised to apply glycolic acid sparingly and in the proper amounts, as doing otherwise might result in serious skin damage and other issues. Regardless of the concentration, the most frequent side effects of using glycolic acid are stinging and burning of the skin. In addition, depending on the amount of glycolic acid included in the product, consumers may experience temporary and/or persistent redness, crusting, scabbing, dryness, flaking, and peeling of the skin. In addition to this, one of the uncommon but dangerous side effects of its use is a change in skin color. In this situation, the skin may appear momentarily lighter or darker. These problems could develop if the glycolic acid concentration is too high or if it stays on the skin for an excessive amount of time. The right quantity of glycolic acid is crucial since it has the ability to penetrate deep under the skin layer and exfoliate the outermost layers of dead skin. The solution grows more potent at greater doses, which are often found in quantities between 5 and 30%. Thus, the manufacturer must pay attention to the solution's concentration when employing the glycolic acid solution as an ingredient in cosmetic items.
There are abundant prospects for market expansion due to the expanding global demand for glycolic acid in the oil and refining sector as a cost-effective cleaning solution. By offering inexpensive metal complexing, hydroxyacetic acid offers cost-effective cleaning. In oil and refinery applications, it improves cleaning and scraping procedures. Additionally, it offers biodegradable metal complexing without increasing the designed products' unwanted chemical oxygen requirement. It does not produce stress-cracking of stainless steel with hydrochloric acid, is easily biodegradable, and is non-volatile. Additionally, it works well in household cleaning goods.
Report Coverage
Global Glycolic Acid research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Glycolic Acid report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Glycolic Acid competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Glycolic Acid market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | China Petrochemical Corporation (Sinopec Corp) (China), The Chemours (U.S.), CABB Group (Germany), Saanvi Corp (India), Water Chemical Co. Ltd. (China), Shandong Xinhua Pharmaceutical Co.Ltd (China), Mehul Dye Chem industries (India), Avid Organics (India), Zhonglan Industry Co. Ltd. (China), Eastman Chemical Company (U.S.), Corbion (Netherlands), Crosschem LP (U.S.), Kureha Corporation (Japan), Huizhou Foryou Medical Devices Co., Ltd (China), BMG Incorporated (Japan), Teleflex Inc (US, Shenzhen Polymtek Biomaterial Co., Ltd (China), Huizhou Foryou Medical Devices Co., Ltd (China), Merck KGaA, Phibro Animal Health Corporation, HeBei ChengXin, Hefei TNJ Chemical Industry Co.,Ltd., Jiaxing Jlight Chemicals Co., Ltd., Taida Sinopec CO.,Ltd, Sancaiindustry, Mehul Dye Chem Industries, Siddharth Chlorochem, Velocity Chemicals Ltd., TCI Chemicals (India) Pvt. Ltd., and Parchem fine & speciality chemicals among others. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Glycolic Acid Market from 2021 to 2030.
- Market Forecast for Glycolic Acid Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Glycolic Acid competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Glycolic Acid
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Glycolic Acid market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Glycolic Acid market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
China Petrochemical Corporation (Sinopec Corp) (China), The Chemours (U.S.), CABB Group (Germany), Saanvi Corp (India), Water Chemical Co. Ltd. (China), Shandong Xinhua Pharmaceutical Co.Ltd (China), Mehul Dye Chem industries (India), Avid Organics (India), Zhonglan Industry Co. Ltd. (China), Eastman Chemical Company (U.S.), Corbion (Netherlands), Crosschem LP (U.S.), Kureha Corporation (Japan), Huizhou Foryou Medical Devices Co., Ltd (China), BMG Incorporated (Japan), Teleflex Inc (US, Shenzhen Polymtek Biomaterial Co., Ltd (China), Huizhou Foryou Medical Devices Co., Ltd (China), Merck KGaA, Phibro Animal Health Corporation, HeBei ChengXin, Hefei TNJ Chemical Industry Co.,Ltd., Jiaxing Jlight Chemicals Co., Ltd., Taida Sinopec CO.,Ltd, Sancaiindustry, Mehul Dye Chem Industries, Siddharth Chlorochem, Velocity Chemicals Ltd., TCI Chemicals (India) Pvt. Ltd., and Parchem fine & speciality chemicals among others.
Primary Target Market
- Market Players of Glycolic Acid
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Glycolic Acid market based on the below-mentioned segments:
Global Glycolic Acid Market, By Purity
Glycolic Acid 99%
Glycolic Acid 70%
Glycolic Acid 30%
Others
Global Glycolic Acid market, By Application
Personal Care & Cosmetics
Household
Textile
Food Processing
Pharmaceutical
Others
Global Glycolic Acid market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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