Global Glycolic Acid Market, By Source (Natural, Synthetic), Purity Level (99% Purity, 70% Purity, 60% Purity, 30% Purity, Others), Grade (Technical Grade, Pharmaceutical Grade, Industrial Grade), Application (Personal Care and Dermatology, Industrial, Household, Tanning and Dyeing, Agriculture, Adhesive, Medical and Food), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights of Glycolic Acid Market
Data Bridge Market Research analyses that the glycolic acid market will witness a CAGR of 9.80% for the forecast period of 2022-2029. Growth in the demand for glycolic acid especially in the emerging economies such as India and China, growing use of glycolic acid for a wide range of end user applications, rising number of small and medium scale enterprises in the Asia-Pacific region and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the glycolic acid market.
Glycolic acid (C2H4O3) is a colorless, odorless, soluble in water, non-volatile, and less flammable chemical that is derived from plants. Glycolic acid (C2H4O3) is derived and extracted from grapes, sugar beets, and pineapple. Therefore, glycolic acid offers numerous beneficial applications which results in its utilization by numerous end user industries.
Rise in demand for glycolic acid by pharmaceutical industry in the manufacturing of skincare products is the root cause for fuelling up the market growth rate. Rising demand for glycolic acid in the manufacturing of industrial and household products, increasing focus on physical appearances, and growth and expansion of various end user verticals in the emerging economies will also directly and positively impact the growth rate of the market. Rising awareness about the benefits of glycolic acid in comparison to alternatives, rising expenditure for research and development proficiencies by the major companies, upsurge in the rate of industrialization, surging demand for glycolic acid for in the manufacturing of adhesives, rising proliferation of social media, rising environmental concerns leading to the production of economic and biodegradable cleaning products and growing focus on the technological advancements and modernization in the production techniques will further carve the way for the growth of the market.
However, insufficiency in raw material demand and supply owing to the lockdown and volatility in their prices will pose a major challenge to the growth of the market. High cost associated with research and development proficiencies, rigorous ordinances taxed by governing societies concerning the product regulation and strict global trade restrictions will dampen the market growth rate. Also, hazardous health effects of hydroxeacetic acid will also hamper the market growth rate. Large scale availability of low cost alternatives in the market will also restrict the scope of growth for the market.
This glycolic acid market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on glycolic acid market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Glycolic Acid Market Scope and Market Size
The glycolic acid market is segmented on the basis of source, purity level, grade and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of source, the glycolic acid market is segmented into synthetic and natural.
- On the basis of purity level, the glycolic acid market is segmented into 99% purity, 70% purity, 60% purity, 30% purity and others.
- On the basis of grade, the glycolic acid market is segmented into technical grade, pharmaceutical grade, and industrial grade.
- On the basis of application, the glycolic acid market is segmented into personal care and dermatology, industrial, household, tanning and dyeing, agriculture, adhesive, medical and food.
Glycolic Acid Market Country Level Analysis
The glycolic acid market is analysed and market size, volume information is provided by country, source, purity level, grade and application as referenced above.
The countries covered in the glycolic acid market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific region dominates the glycolic acid market owing to the rising demand for glycolic acid by the personal care and cosmetic industry in the region, growing demand from various end-use industries, increase in the research and development activities, surging improvement in standard of living, investment policies by the government in order to promote industrial growth, high economic growth in the emerging countries, rapid growth in the demand as a dying and tanning agent in the leather industry, abundant availability of raw materials and rising investments by various public and private manufacturers in Asia Pacific.
The country section of the glycolic acid market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Glycolic Acid Market Share Analysis
The glycolic acid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to glycolic acid market.
Some of the major players operating in the glycolic acid market report are Merck KGaA, The Chemours Company, CABB GmbH, China Petrochemical Corporation, Water Chemical Co., Ltd, Zhonglan Industry Co.,Ltd., Shandong Xinhua Pharma, Phibro Animal Health Corporation, HeBei ChengXin, Hefei TNJ Chemical Industry Co.,Ltd., Avid Organics, Jiaxing Jlight Chemicals Co., Ltd., Taida Sinopec CO.,Ltd, CrossChem LP, Sancaiindustry, Mehul Dye Chem Industries, Siddharth Chlorochem, Velocity Chemicals Ltd., TCI Chemicals (India) Pvt. Ltd., and Parchem fine & speciality chemicals among others.
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