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Glycolic Acid Market

Market Insights on Glycolic Acid covering sales outlook, demand forecast & up-to-date key trends

Glycolic Acid Market By Grade (Technical Grade, Pharmaceutical Grade, and Industrial Grade), Application (Personal Care & Cosmetics, Household, Textile, Industrial Cleaners, Agriculture, and Others) & Region - Forecast to 2022-2032

Glycolic Acid Market Overview

The glycolic acid market is garnering momentum and is predicted to move at an impressive CAGR of 7% during 2022-2032.

“An increase in sales and consumption of glycolic acid is owing to the rising the demand for skincare and hair care cosmetic products.”

Glycolic acid falls under the category of alpha hydroxy acid (AHA). Glycolic acid is generally odorless, colorless and hygroscopic crystalline solid obtained from natural phenomenon due to its abundance availability in fruits. Commercially glycolic acid is prepared by the reaction of formaldehyde with synthesis gas in the presence of catalyst.

This method is cost effective in nature and widely adopted by the manufacturers for the synthesis of glycolic acid. Reaction of sodium hydroxide with chloroacetic acid which is then followed by re-acidification is one more viable method for the synthesis of glycolic acid.

Attributes

Details

Glycolic Acid Market Value in 2020

US$ 502 Mn

Glycolic Acid Market CAGR (2022-2032)

7%

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What are the Factors Driving and Restraining the Growth of the Glycolic Acid Market?

“Glycolic acid toners are becoming more popular used for cosmetic purposes. The advantages of the glycolic acid toner over the ordinary tone is cited as the reason for such a surge in its sale.”

In last few years, an increase in the production & consumption of glycolic acid for numerous application has been witnessed and a similar roadmap and trend is expected to follow in the coming years. In market place the glycolic acid are commercially available in different grades such as technical grade, industrial grade and pharmaceutical grade which are further consumed in different application areas.

Glycolic acid is also used in the formulation of the polyglycolic acid which is commercially formed by the polycondensation of the glycolic acid. Furthermore the polyglycolic acid is widely used commercially in the extraction of the shale gas. Also there has been wide adoption of polyglycolic acid has been witnessed in absorbable sutures for surgical applications.

Likewise the positive attributes like high solubility in water and highly acidic nature makes glycolic acid as the material for choice for the formulation and synthesis of creams and ointments which is used for the treatment of scars and wrinkles.

The increase in adoption of the glycolic acid in emulsion polymer and in the formulation of additives which further used finds application in paints and ink industry also fuel the demand of glycolic acid. Other factors like improvement in healthcare standards in different growing and emerging economies will further propel the demand for glycolic acid.

However, rise in awareness amongst the people about the ill effects of the usage of glycolic acid leading to skin allergies will somehow dent the growth of glycolic acid globally. Also stringent regulations by the European government imposed on the manufacturers regarding the capping in the usage of glycolic acid in pharmaceutical formulation is acting as an adoption barrier over the forecasted period.

Nikhil Kaitwade
Principal Consultant
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What are the Current Glycolic Acid Markets Trends?

“APEJ and Latin America regions will also register rapid growth due to the increasing demand for furan resins with the increase in application in pharmaceutical product formulations.”

The global glycolic acid market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA).

North America is the major market for the consumption of glycolic acid based products, the growth is driven by the increasing demand for acne & wrinkle removal creams among the middle aged woman with in the region, and also increase focus in skin nourishment helps the compound gaining attention within the region.

Europe is one of the prominent region holding the substantial demand for glycolic acid based product and growing health care industry. China and India are the two major countries in the APEJ region contributing in the consumption of glycolic acid in different application industries such as industrial, household and cosmetics.

Also low manufacturing cost in the region coupled with the growing and emerging economy drives the consumption of glycolic acid with in the region. Japan is showing the steady growth in the consumption and adoption of glycolic acid based products due to limited availability of the manufacturers. MEA region is also projected to expand with a significant CAGR over the forecast period.

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Key Segments

Attributes

Details

Forecast Period

2022-2032

Historical Data Available for

2012-2020

Market Analysis

US$ Mn for Value

By Grade

  • Technical grade
  • Pharmaceutical grade
  • Industrial grade

By Application

  • Personal Care & Cosmetics
  • Household
  • Textile
  • Industrial Cleaners
  • Agriculture
  • Others

By Region

  • North America
  • Latin America
  • Asia Pacific
  • Japan
  • Western Europe
  • Eastern Europe
  • Middle East & Africa

Key Players

  • Parchem
  • Phibro Animal Health Corporation
  • Griffin International
  • The Chemours Company
  • Kureha Corporation
  • Vornia Biomaterials
  • SimcoQC
  • CrossChem LP
  • Dupont
  • Zhonglan Industry Co.

Frequently Asked Questions

The glycolic acid market is anticipated to register a CAGR of 7% during the forecast period of 2022-2032.

The glycolic market is estimated to reach US$ 820 Mn by the end of 2027.

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Nikhil Kaitwade
Principal Consultant
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