Global Glycolic Acid Market is valued at approximately USDXX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028. Glycolic acid is an odorless, colorless, and hygroscopic crystalline solid that is highly soluble in water. This acid is majorly used in a variety of skin-care products. The growing demand for glycolic acid in the cosmetics industry, rising consumption of glycolic acid in a wide range of applications, coupled with the increasing number of product launches are some prominent factors propelling the global market growth. For instance, according to a Statista report, in 2021, the cosmetics market worldwide generates a revenue of around USD 80,737.3 million. Also, it is projected that the amount increases and reach nearly USD 131,041.2 million by 2026. Consequentially, the development of the cosmetics market is fueling the demand for glycolic acid, which is bolstering the growth of the market across the globe. However, several side effects like skin problems from the usage of glycolic acid and the execution of stringent regulations regarding the usage of glycolic acid impede the growth of the market over the forecast period of 2022-2028. Also, surging demand for biodegradable polymers to increase glycolic acid consumption and increasing investment in the R&D activities are anticipated to act as catalyzing factors for the market demand during the forecast period.
The key regions considered for the global Glycolic Acid Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-Pacific is the leading region across the world in terms of market share owing to rising expenditure on cosmetic products, along with the growing population. Whereas, Europe is anticipated to exhibit a substantial growth rate over the forecast period 2022-2028. Factors such as the rising inclination toward beauty and wellness products, as well as growth of the textile sector, would create lucrative growth prospects for the Glycolic Acid Market across the European region.
Major market players included in this report are:
The Chemours Company
China Petrochemical Corporation
CABB Group GmbH
Zhonglan Industry Co., Ltd.
Water Chemical Co., Ltd
Shandong Xinhua Pharmaceutical Co. Ltd.
Phibro Animal Health Corp.
Hebei Chengxin Co., Ltd.
Hefei Tnj Chemical Industry Co., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Personal Care & Dermatology
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028
Target Audience of the Global Glycolic Acid Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers