DUBLIN--(BUSINESS WIRE)--The "Global Glycolic Acid Market by Grade (Cosmetic, Technical), Application (Personal Care & Dermatology, Industrial, Household) and Region (Asia Pacific, North America, Europe, South America, Middle East & Africa) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global Glycolic Acid Market size is estimated at USD 327 million in 2022 and is projected to reach USD 450 million by 2027, at a CAGR of 6.6%, between 2022 and 2027.
Technical Grade is the largest grade segment of the glycolic acid market
The technical grade of glycolic acid is a colorless-to-light yellow liquid solution mainly used for manufacturing household, industrial, and electronics cleaners. It is available in a concentration of 70% for applications ranging from automotive oil additives, oil and water well-flow enhancers, and pH control products to chemical intermediates.
It is also considered ideal to be used in emulsion polymers, solvents, and additive applications for ink and paint to improve their gloss structure and flow properties. The technical grade of glycolic acid is also highly used in oil & gas, building & construction, coatings, metal surface treatment, electronics manufacturing, polymer manufacturing, dairy processing, and other applications.
Personal Care & Dermatology is the largest application of the glycolic acid market
The personal care & dermatology application segment led the market in terms of both value and volume. Glycolic acid is used in chemical peels, moisturizers, shampoos, and other products. It helps treat and remove dead skin and helps the skin to revitalize and gain its lost moisture, owing to which it is highly preferred in anti-pollution care products nowadays. As the solution is naturally derived, it has no serious side effects, except skin irritation if it is not used with sunscreen creams.
Other glycolic acid derivatives such as polyglycolic acid, ammonium glycolate, and sodium glycolate are often used in cosmetic applications. Cosmetic grade glycolic acid is generally used in a ratio of 2-4% with other moisturizing solutions in cosmetic products. The use of technical grade glycolic acid without purification is strictly not recommended owing to some residues such as iron in the solution.
Asia Pacific is the largest market for glycolic acid market
The Asia Pacific region is projected to be the largest market, in terms of value. Asia Pacific is also expected to grow at the highest CAGR during the forecast period. Increasing population, improving standards of living, increasing self-care awareness, and rising e-commerce activities have led to increased demand for cosmetic products in this region. China and India are high-growth markets for skincare, haircare, and makeup products, supported by the economic growth of these countries and increased consumer spending on cosmetic products.
Market Dynamics
Drivers
- Growing Demand for Glycolic Acid in Cosmetics Industry
- Increasing Glycolic Acid Consumption in Varied Applications
Restraints
- Glycolic Acid-Based Cosmetic Products Cause Skin Problems
Opportunities
- Growing Demand for Biodegradable Polymers to Increase Glycolic Acid Consumption
Challenges
- Stringent Regulations Regarding Usage of Glycolic Acid
Company Profiles
- The Chemours Company
- Cabb Group GmbH
- China Petrochemical Corporation
- Water Chemical Co., Ltd
- Zhonglan Industry Co., Ltd.
- Shandong Xinhua Pharmaceutical Co. Ltd.
- Phibro Animal Health Corp.
- Hebei Chengxin Co., Ltd.
- Hefei Tnj Chemical Industry Co., Ltd.
- Avid Organics
- Jiaxing Jlight Chemicals Co., Ltd.
- Wuhan Biocar Bio-Pharm Co., Ltd.
- Xinji City Taida Sinopec Co., Ltd.
- Crosschem Lp
- Sancaiindustry
- Mehul Dye Chem Industries
- Siddharth Chlorochem
- Hangzhou Lingrui Chemical Co., Ltd.
- Cangzhou Goldlion Chemicals Co., Ltd
- Velocity Chemicals Ltd.
- Actiza Pharmaceutical Pvt. Ltd.
- Kureha Corporation
- Merck KGaA
- Saanvi Corp
- Simcoqc
For more information about this report visit https://www.researchandmarkets.com/r/jk3zog
