Glycolic Acid - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Glycolic Acid Market is accounted for $261.48 million in 2018 and is expected to reach $531.48 million by 2027 growing at a CAGR of 8%. Increasing demand for glycolic acid in the cosmetic industry, growing glycolic acid consumption in varied applications is likely to boost the growth of the market. However, Skin problems caused by the use of glycolic acid-based cosmetic products are likely to hamper the profit boundaries.
Glycolic acid belongs to a group of active compounds known as AHAs (alpha hydroxyl acids), which are primarily found in vegetables and fruits such as sugarcane, pineapple, unripe grapes, etc. Glycolic acid possesses the smallest molecules in the group; this enables quick and easy penetration of human skin. It is therefore very effective in skin treatment and is widely used in cosmetic formulations.
Based on the type, the glycolic acid solution segment is owing to increasing demand for glycolic acid-based products for scalp treatment and hair nourishment. By geography, Europe accounted for the substantial market share of over 30% due to a rapidly developing skin and hair care industry. Increasing demand for anti-aging and acne removal creams is expected to drive the market further over the forecast period. Presence of various cosmetics manufacturers in Italy and France is also likely to boost market growth.
Some of the key players in the Glycolic Acid market include CABB Group Gmbh, China Petrochemical Corporation, Hebei Chengxin Co Ltd , Hefei TNJ Chemical Industry Co Ltd, Phibro Animal Health Corp, The Chemours Company, Water Chemical Co Ltd, Xinhua Pharm , Zhonglan Industry Co Ltd, Velocity Chemicals Ltd , Siddharth Chlorochem, Sancaiindustry, Mehul Dye Chem Industries , Hangzhou Lingrui Chemical Co Ltd , Cangzhou Goldlion Chemicals Co Ltd and Wuhan Biocar Bio-Pharm Co Ltd.
• Cosmetic Grade
• Industrial Grade
• Medical Grade
• Technical Grade
• Other Grades
• Glycolic Acid 30%
• Glycolic Acid 70%
• Glycolic Acid 99%
• Other Purities
• Hydroxyacetic Acid
• Glycolic Acid Solution
• Glycolic Acid Solid
• Other Types
• Personal Care & Dermatology
• Others Application
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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