Glycolic Acid Market by Grade (Cosmetic and Technical), Application (Personal Care & Dermatology, Industrial, Household, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026401 | Pages: 100 | Industry: Chemicals and Materials | Date: Sep 2022 | Type: Global

The market crossed US$ 327.0 million mark in 2022 and is expected to hit US$ 508.9 million by 2030, recording a CAGR of 5.7% during the forecast period.

  

Rising demand for glycolic acid in the cosmetics industry.

The rising demand for glycolic acid in the cosmetic industry and personal care products, especially as a chosen ingredient in anti-pollution, anti-ageing, and over-the-counter skin care products, will continue driving the market. Its unmatched ability to penetrate the skin, owing to its small molecular structure, helps to fight many negative effects of pollution and other anti-ageing troubles by exfoliating and cleansing the dead skin layers. The use of glycolic acid in anti-pollution and anti-ageing skincare creams, scrubs, gels, and facial cleansers reduces fine lines, acne breakouts, hyperpigmentation, scars, and other age-related skin marks or spots. The growing popularity of cosmetic products is also among the key drivers of the glycolic acid market.

Within the report, the market is segmented into grade, application, and geography. By grade, the market is further segmented into cosmetic and technical. On the basis of application, the market is bifurcated into personal care & dermatology, industrial, household, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Growing demand for biodegradable polymers to raise glycolic acid consumption

Biodegradable polymers are used to provide short-term support to the body with the ability to break down within a restricted period. Polyglycolic acid, made through ring polymerization of glycolide, a diester of glycolic acid, is the most frequent biodegradable polymer used in the medical industry. Exceptional degradation behavior and low harmfulness are some of the major factors making it a perfect biodegradable polymer for biomedical devices and tissue engineering applications.

Rising adoption of various personal care and dermatology is one of the major factors accelerating market growth.

The personal care & dermatology application segment led the market in value and volume. It is used in various personal care & dermatology applications owing to its superior exfoliation and hydration properties. Its small molecules help the solution to deeply penetrate the skin and treat it from within, which makes it ideal for skin care creams for acne removal, hyperpigmentation, anti-ageing, and anti-pollution. Glycolic acid is used in chemical peels, moisturizers, shampoos, and other products.

Recent strategic developments in the glycolic acid market

The glycolic acid market has undergone several significant developments, and a few of these have been mentioned below:

  • In July 2019, Hefei TNJ Chemical Industry Co., Ltd expanded its market in cosmetics materials in Seoul, South Korea.
  • In November 2021, The Chemours Company launched a new glycolic acid product under the brand name Glyclean D.

The glycolic acid market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. The Chemours Company, China Petrochemical Corporation, CABB Group GmbH, Water Chemical Co. Ltd., are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Glycolic acid-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Glycolic acid distributors and sales firms
  • End users personal care and cosmetic products
  • Textile industry
  • Food and beverages processing industries
  • Adessive and Plastic manufacturing industries
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented based on:

  • Grade:
    • Cosmetic
    • Technical

 

  • Application
    • Personal Care & Dermatology
    • Industrial
    • Household
    • Others

 

  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa

 

  • Companies profiled
    • The Chemours Company
    • China Petrochemical Corporation
    • CABB Group GmbH
    • Zhonglan Industry Co., Ltd.
    • Water Chemical Co., Ltd

Companies profiled
- The Chemours Company
- China Petrochemical Corporation
- CABB Group GmbH
- Zhonglan Industry Co., Ltd.
- Water Chemical Co., Ltd

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