Increasing Demand For Glycolic Acid To Substantially Surge T...| MENAFN.COM

Saturday, 01 April 2023 07:03 GMT

Increasing Demand For Glycolic Acid To Substantially Surge The Revenues Through The COVID-19 Lockdown Phase

(MENAFN- Ameliorate Digital Consultancy)

Glycolic acid is water soluble compound used as an ingredient in personal care and cosmetic products, skin treatment products along with as a tanning agent in textile chemical or auxiliary formulations. Rising usage in skin care and hair care products is expected to shape market growth over the coming years.

Cosmetics and personal care products containing glycolic acid helps to enhance texture of and also aids in the reduction of wrinkles, acne scars etc. In addition, it is also a key ingredient in medicine used to treat actinic keratosis, hyperkeratosis, and seborreheic keratosis, among other skin disorder.

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It is used for the variety of applications in the chemical industry, which includes the production of polyglycolic acid. In the industrial and research application, polyglycolic acid is used to make drug delivery systems for small-molecule drugs, proteins, and macromolecules. Because of its tuneable mechanical properties, biodegradability, and biocompatibility, it's often used in a variety of tissue-engineering applications. In the near time, this trend is projected to boost global demand for polyglycolic acid.

Key Takeaways from Market Study

  • In 2020, the global glycolic acid market was worth over US$ 270 million
  • Global demand for glycolic acid is projected to register a CAGR of more than 7% during the assessment period
  • Primary factor expected to drive the market is rising use of skin care and hair care products around the world
  • The Asia Pacific region dominates the global market as compared to other regions
  • As a natural alternative to synthetic chemicals in beauty products, formaldehyde-free glycolic acid is widely used
  • Use of formaldehyde-free glycolic acid as a clean alternative to synthetic chemicals is increasing in beauty products

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Key Market Segments Covered
  • Grade
    • Glycolic Acid ≤68%
    • Glycolic Acid 70%
    • Glycolic Acid ≥99%
  • Application
    • Personal Care & Cosmetics
      • Skin Care
      • Hair Care
      • Others (including Nail Care and Dental Care)
    • Plant Growth Stimulation
    • Food Flavoring & Preservation
    • Polyglycolic Acid (PGA) Manufacturing
    • Cleaning Agent
      • Household
      • Industrial
      • Institutional
    • Oil & Gas
    • Electronics
    • Leather Dyeing & Tanning
    • Others (including Biomedical & Drug Delivery and Gas Barrier Packaging)
  • Regions
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East & Africa

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More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of theglycolic acid market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of grade (glycolic acid ≤68, glycolic acid 70%, and glycolic acid ≥99%) and application (personal care & cosmetics (under which hair care, skin care, others (including nail care and dental care)) and plant growth stimulation, food flavouring & preservation, polyglycolic acid (PGA) manufacturing, cleaning agent (under which household, industrial, institutional), electronics, oil & gas, leather dyeing & tanning, and others (including biomedical & drug delivery, and gas barrier packaging), across major regions of the world (North America (U.S., Canada), Europe (Germany, U.K., France, Italy, Spain, Russia & CIS, Rest of Europe), Asia Pacific (China, Japan, India, ASEAN, Rest of Asia Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and the Middle East & Africa (GCC, South Africa, and the Rest of Middle East & Africa).

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