The World Market for Glycolic Acid (2019-2024): Growing Demand for Biodegradable Polymers to Increase Glycolic Acid Consumption
DUBLIN, Oct. 9, 2019 /PRNewswire/ -- The "Glycolic Acid Market by Grade (Cosmetic, Technical), Application (Personal Care & Dermatology, Industrial, Household) and Region (APAC, North America, Europe, South America, Middle East & Africa) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The glycolic acid market size is estimated to be USD 280 million in 2019 and is projected to reach USD 395 million by 2024, at a CAGR of 7.2%.
- This report segments the glycolic acid market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.
- This report is expected to help stakeholders understand the pulse of the glycolic acid market and provide information on key market drivers, restraints, challenges, and opportunities influencing the market growth.
- This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the glycolic acid market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as new product development and expansions.
The rapidly developing and growing demand for glycolic acid in the cosmetics industry, specifically as a preferred ingredient in anti-aging, anti-pollution, and over the counter skincare products is expected to drive the market demand for glycolic acid during the forecast period. In addition, the considerable consumption of glycolic acid as a keratolytic agent for the treatment of dermatological diseases will further contribute to driving its market demand.
Apart from these household and industrial cleaners are also major consumers of glycolic acid the expansion of which is witnessed in developing regions owing to economic development, rising population, growing per capita income and increasing standards of living thus contributing to the development of the glycolic acid market. However, the added disadvantage of skin damage if not used with care and in accurate concentration can act as a restraint for the market growth.
The key companies profiled in this report on the glycolic acid market include The Chemours Company (US), China Petrochemical Corporation (China), CABB Group (Germany), Zhonglan Industry Co., Ltd. (China), Water Chemical Co., Ltd (China), Xinhua Pharm (China), Phibro Animal Health Corporation (US), Avid Organics (India), Hebei Chengxin Co., Ltd. (China), Hefei TNJ Chemical Industry Co., Ltd. (China).
Cosmetic is the fastest-growing grade of glycolic acid
Cosmetic is the fastest-growing grade of the glycolic acid market globally during the forecast period. The huge preference of cosmetic grade glycolic acid in personal care and cosmetics products owing its unmatched ability to treat skin problems including fine lines, irregular pigmentation, age spots, and enlarged pores along with unique advantages in hair care with the proven benefits of hair moisturization, softness, strength and others are expected to drive the cosmetic grade glycolic acid demand in future.
Personal care & dermatology is the largest application of glycolic acid
Personal care & dermatology is the most extensive application of glycolic acid. The increasing demand for glycolic acid-based night peeling concentration, sleep-in mask, acne face & body scrub, and others products along with rising per capita spending and growing beauty needs with the increase in the standard of living are some of the factors expected to drive the glycolic acid demand in personal care & dermatology application.
APAC is the largest and the fastest-growing market for glycolic acid
APAC is projected to register the highest growth rate during the forecast period owing to the presence of major glycolic acid markets such as China and Japan as well as emerging economies such as India, South Korea, Thailand, and Indonesia. The region is expected to witness substantial demand for glycolic acid during the forecasted period owing to the robust growth and development witnessed in the sectors such as cosmetics and personal care, manufacturing, healthcare, industrial and others. Further, the development of the country's economy, trade, and FDI along with minimal rules and regulatory standards governing the business operations makes the region a highly attractive market for different end-use industries of glycolic acid thus boosting the market demand.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Glycolic Acid Market
4.2 Glycolic Acid Market in APAC, By Grade and Country, 2018
4.3 Glycolic Acid Market, By Grade, 2018
4.4 Glycolic Acid Market, Regional Share
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand for Glycolic Acid in the Cosmetic Industry
5.2.1.2 Increasing Glycolic Acid Consumption in Varied Applications
5.2.2 Restraints
5.2.2.1 Skin Problems Caused By the Use of Glycolic Acid-Based Cosmetic Products
5.2.3 Opportunities
5.2.3.1 Growing Demand for Biodegradable Polymers to Increase the Glycolic Acid Consumption
5.2.4 Challenges
5.2.4.1 Stringent Regulations Regarding the Usage of Glycolic Acid
5.3 Porter's Five Forces Analysis
5.4 Macroeconomic Indicators
5.5 Personal Care Sector Revenue
6 Glycolic Acid Market, By Purity
6.1 Introduction
6.1.1 Glycolic Acid 99%
6.1.1.1 Huge Demand for Glycolic Acid 99% in the Medical Application Will Impact the Market Growth
6.1.2 Glycolic Acid 70%
6.1.2.1 Glycolic Acid 70% is Majorly Used in Dermatology and Industrial Cleaning Applications
6.1.3 Glycolic Acid 30%
6.1.3.1 The Demand for Glycolic Acid 30% in Skin Peel Application Under in the Cosmetic Industry is Likely to Increase
6.1.4 Others
6.1.4.1 Glycolic Acid 60%
6.1.4.2 Glycolic Acid 57%
7 Glycolic Acid Market, By Grade
7.1 Introduction
7.1.1 Cosmetic Grade
7.1.1.1 Increasing Demand for Skincare Creams Owing to Adverse Climatic Condition and Growing Old Age Population Will Have Positive Impacts on the Market
7.1.2 Technical Grade
7.1.2.1 Huge Consumption of Glycolic Acid in Industrial Cleaning Application With Special Reference to Boiler Cleaning is Expected to Drive the Market
8 Glycolic Acid Market, By Application
8.1 Introduction
8.1.1 Personal Care & Dermatology
8.1.1.1 Growing Demand for Anti-Aging and Anti-Pollution Products Will Drive the Market
8.1.2 Industrial
8.1.2.1 The Consumption of Glycolic Acid is Increasing in Industrial Cleaning Application Due to Its Beneficial Properties
8.1.3 Household
8.1.3.1 Increasing Demand for Effective and Efficient Household Cleaners With Antimicrobial Properties Will Drive the Market
8.1.4 Others
8.1.4.1 Dyeing & Tanning
8.1.4.2 Adhesive
8.1.4.3 Agriculture
8.1.4.4 Medical
8.1.4.5 Food
9 Glycolic Acid Market, By Region
9.1 Introduction
9.2 APAC
9.2.1 China
9.2.1.1 The Country has A Strong Manufacturing Base of Glycolic Acid
9.2.2 Japan
9.2.2.1 The Presence of Major Cosmetic and Manufacturing Industries Will Drive the Glycolic Acid Market
9.2.3 India
9.2.3.1 The Rapidly Growing Economy of the Country Will Influence the Different Application Industries of Glycolic Acid
9.2.4 South Korea
9.2.4.1 The Presence of Large Industrial Sector Will Drive the Glycolic Acid Market
9.2.5 Thailand
9.2.5.1 Growing Industrial and Personal Care Industry Will Increase the Demand for Glycolic Acid
9.2.6 Indonesia
9.2.6.1 Presence of Major Cosmetics and Beauty Products Market Will Drive the Glycolic Acid Market
9.2.7 Rest of APAC
9.3 North America
9.3.1 US
9.3.1.1 Increasing Demand for Vegan Cosmetic Products Will Significantly Support the Market Growth
9.3.2 Canada
9.3.2.1 The Demand for Different Skincare Products is Increasing in the Country
9.3.3 Mexico
9.3.3.1 The Presence of the Prominent Cosmetic Industry Will Augment the Demand for Glycolic Acid
9.4 Europe
9.4.1 Germany
9.4.1.1 The Country's Large Cosmetic Market Will Positively Impact the Glycolic Acid Market Growth
9.4.2 UK
9.4.2.1 Increasing Awareness Toward Skincare Products Will Drive the Glycolic Acid Market
9.4.3 Italy
9.4.3.1 The Consumption of Glycolic Acid in the Beauty & Personal Care and Manufacturing Industries is Significantly High
9.4.4 France
9.4.4.1 The Country is A Major Cosmetic Hub, Which Definitely Will Support the Glycolic Acid Market
9.4.5 Spain
9.4.5.1 The Growing Beauty & Personal Care Industry Will Drive the Glycolic Acid Market
9.4.6 Russia
9.4.6.1 The Country is Witnessing Strong Demand for Different Skincare Products
9.4.7 Turkey
9.4.7.1 The Presence of Strong Industrial Sector Will Increase the Glycolic Acid Demand
9.4.8 Rest of Europe
9.5 Middle East & Africa
9.5.1 Saudi Arabia
9.5.1.1 Increasing Demand for Halal-Certified and Organic Products Will Positively Impact the Market
9.5.2 UAE
9.5.2.1 The Growing Cosmetic & Personal Care Sector Will Drive the Glycolic Acid Market
9.5.3 South Africa
9.5.3.1 Presence of Industries Including Personal Care, Industrial Manufacturing, Textile, and Others Will Drive the Market
9.5.4 Rest of the Middle East & Africa
9.6 South America
9.6.1 Brazil
9.6.1.1 The Prominent Industrial Sector Will Drive the Market of Glycolic Acid
9.6.2 Argentina
9.6.2.1 The Country has Strong Manufacturing and Industrial Sectors, Which Will Drive the Market
9.6.3 Rest of South America
10 Competitive Landscape
10.1 Introduction
10.2 Market Ranking of Glycolic Acid Manufacturers
10.3 Competitive Situations & Trends
10.3.1 Expansion
10.3.2 New Product Development
11 Company Profiles
11.1 The Chemours Company
11.2 CABB Group Gmbh
11.3 China Petrochemical Corporation
11.4 Water Chemical Co., Ltd
11.5 Zhonglan Industry Co., Ltd.
11.6 Xinhua Pharm
11.7 Phibro Animal Health Corp.
11.8 Hebei Chengxin Co., Ltd.
11.9 Hefei TNJ Chemical Industry Co., Ltd.
11.10 Avid Organics
12 Additional Company Profiles
12.1 Jiaxing Jlight Chemicals Co., Ltd.
12.2 Wuhan Biocar Bio-Pharm Co., Ltd.
12.3 Xinji City Taida Sinopec Co., Ltd.
12.4 Crosschem LP
12.5 Sancaiindustry
12.6 Mehul Dye Chem Industries
12.7 Siddharth Chlorochem
12.8 Hangzhou Lingrui Chemical Co., Ltd.
12.9 Cangzhou Goldlion Chemicals Co.,Ltd
12.10 Velocity Chemicals Ltd.
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