The global glycolic acid market revenue was around US$ 436.4 billion in 2022 and is estimated to reach US$ 694.6 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.3% during the forecast period from 2023 to 2031.
Glycolic acid is referred to as hydroxyacetic acid. It is a relatively modest -hydroxy acid (AHA). It is a crystalline solid that dissolves easily in water and other related solvents while being hydrophobic, odorless, and colorless. Although it can be extracted from sugar beets, cantaloupe, sugarcane, pineapple, and young grains, It is primarily made chemically from fossil fuels through a process called carbonylation.
Market Driving Factors
Regional Analysis
Asia Pacific is estimated to dominate the market growth in terms of value This is due to the rising per capita spending on cosmetics as well as the enormous need for cutting-edge, highly effective haircare and skincare products. Glycolic acid is widely used in anti-aging products as a result of an increase in the number of elderly people in Japan, China, South Korea, and other nations. This will have a positive impact on the market in this region.
Segmentation Insights
End Use Insights
The personal care segment dominated the market in terms of volume and value. This is due to its excellent buffing and moisturizing qualities make it useful in a variety of dermatology and personal care applications. Its small molecules make it perfect for skin care products for removing acne, treating hyperpigmentation, preventing aging, and combating pollution since they enable the solution to deeply infiltrate the skin and treat it. In addition to other items, glycolic acid is utilized in shampoos, moisturizers, and chemical peels. Hence these factors propel the market growth.
The textile segment dominated the market during the forecast period. This is due to the tanning agent and cloth dye, hydroxyacetic acid is utilized in the textile industry. The market is being driven by the expanding this segment, which is, in turn, being supported by the expanding fashion sector and improved consumer lifestyle. Additionally, the demand for hydroacoustic acid from the electronics industry is rising as it is used to clean copper substrates in electronics. which is anticipated to drive market expansion
Prominent Companies
Segmentation Outline
The global Glycolic acid market segmentation focuses on Product Grade, Source, End Use, and Region.
By Product Grade
By Source
By End Use
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL GLYCOLIC ACID MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: GLYCOLIC ACID MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL GLYCOLIC ACID MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL GLYCOLIC ACID MARKET, BY PRODUCT GRADE
5.1 OVERVIEW
5.2 TECHNICAL GRADE
5.3 PHARMA GRADE
5.4 INDUSTRIAL GRADE
6 GLOBAL GLYCOLIC ACID MARKET, BY SOURCE
6.1 OVERVIEW
6.2 NATURAL
6.3 SYNTHETIC
7 GLOBAL GLYCOLIC ACID MARKET, BY END USE
7.1 OVERVIEW
7.2 PERSONAL CARE
7.3 CHEMICALS
7.4 OIL & GAS
7.5 TEXTILE
7.6 PHARMACEUTICALS
7.7 AGRICULTURE
7.8 ELECTRONICS
7.9 OTHERS
8 GLOBAL GLYCOLIC ACID MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3. 1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL GLYCOLIC ACID MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 THE CHEMOURS COMPANY
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 ZHONGLAN INDUSTRY CO., LTD
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 HEFEI TNJ CHEMICAL INDUSTRY CO., LTD
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 SIDDHARTH CHLOROCHEM PVT. LTD
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 PENTA INTERNATIONAL CORPORATION
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 CONNECT CHEMICALS
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 CHARKIT CHEMICAL COMPANY LLC
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 BEIJING LYS CHEMICALS CO., LTD
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 HAIHANG INDUSTRY CO., LTD
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 CROSS CHEM LP
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.11 SPECTRUM CHEMICAL MANUFACTURING CORP
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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