Glycolic Acid Market Overview
Glycolic acid is used in personal care and cosmetic products such as skin cream, moisturizer, acne face lines and shampoos formulation owing to its exfoliating property and high-water solubility. Glycolic acid market is expected to reach USD 375.5 million by the end of 2023. Growing demand of acne products among aging population for reducing face lines, scars and marks are further anticipated to drive the market growth.
Get Free Sample Copy Glycolic Acid Market at: https://www.marketresearchfuture.com/sample_request/3141
Glycolic acid is alpha hydroxyl acid (AHA) which is high soluble in aqueous solution and is generally colourless, odourless, and soluble at room temperature. Glycolic acid is synthesized naturally as well as through chemical reaction. Glycolic acid is produced naturally through vegetables and fruits such as sugarcane, pineapple and sugar beets among others are gaining high importance in the global glycolic acid market.
Glycolic acid market expected to grow at CAGR of 6.09% owing to increasing use in skin and hair care products coupled with rising development in cosmetic industry. Further, growing demand of glycolic acid as additive in inks and paints is likely to propel the overall market growth.
Commercially, glycolic acid is prepared through synthesis of formaldehyde in presence of catalyst. This method is widely adopted by various manufacturer owing to cost effective and advance technology. Thus, rising expenditure on innovative and development in production process for increasing scope of application is likely to boost the global glycolic acid market.
Global Glycolic Acid Market Segmentation:
The global glycolic acid market has been segmented on the basis of source and application.
Based on source, the glycolic acid market has been segmented into natural and synthetic.
Based on application, the glycolic acid market has been segmented into personal care, textile dyeing and finishing, oil field, petroleum refining and others.
The personal care application segment commanded for the major share in the global glycolic acid market owing to the high demand for glycolic acid in the production of various skin care products and hair nourishment solutions.
Regional Analysis:
Geographically, the global glycolic acid market has been segmented into Europe, North America, Latin America, Asia Pacific and the Middle East and Africa.
The North America region commanded for the major share in the global glycolic acid market and has been forecasted to expand at a CAGR of 6.23% during the assessment period. Rise in demand for skin care products that have glycolic acid as their main component and growing application of glycolic acid in various end-use industries are propelling the growth of the glycolic acid market in the North America region. Rise in research and development activities for introducing larger application areas of glycolic acid and increased production of product made from glycolic acid are fueling the growth of glycolic acid market in the Europe region. Increased application of glycolic acid in rapidly growing personal care and textile industries in the emerging economies such as India, China and Australia are leading to the significant expansion of the glycolic acid market in the Asia Pacific region. The Middle East and Africa region is projecting steady growth in the global glycolic acid market owing to the low utilization of personal care products that are rich with glycolic acid and low demand for glycolic acid in other industrial sectors of the underdeveloped areas in this region.
Prominent Players:
The major players profiled by MRFR that are operating in the global glycolic acid market are the Chemours Company, Phibro chem, CrossChem LP, CABB Group, Sigma-Aldrich Corporation, Zhonglan Industry Co, Mehul Dye Chem Industries and others.
Access Full Glycolic Acid Market Report at: https://www.marketresearchfuture.com/reports/glycolic-acid-market-3141
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/glycolic-acid-market-3141