Glycolic Acid Market Challenges, Opportunities, Driver and Restraint Analysis, 2024

Felton, Calif., USA, July. 21, 2021 — /EPR Network/ —

The global Glycolic Acid Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

Global Glycolic Acid Market is anticipated to reach USD 415.0 million by 2024. Glycolic acid falls in the category of alpha hydroxy acid (AHA). Glycolic acid is colorless, odorless, hygroscopic crystalline solid. Additionally, the glycolic acid is water-soluble. Glycolic acid is found in pineapple, unripe grapes, sugarcane, sugar beets, and cantaloupe.

Key Players:

  • Sigma Aldrich
  • I.DuPont de Nemours and Company
  • CrossChem LP
  • Parchem fine and specialty chemicals
  • Simco Chemicals
  • Phibro Animal Health Corporation
  • Chemsolv Inc
  • Griffin International Inc.
  • Mehul Dyechem Industries
  • Chemours

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Growth Drivers:

The factors that propel the growth of the Glycolic Acid Market include increasing demand from personal care and cosmetic industry, glycolic acid aids in reducing facial scars, marks, and age associated fine lines. On the other hand, there are factors that may hamper the growth of the market including growth of substitute products, and inhibitions with respect to hazardous nature of high absorption glycolic acid. Glycolic Acid industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.

Application Outlook:

  • Personal Care
  • Household
  • Industrial

The “Personal Care” segment led the Glycolic Acid industry in 2016 and is anticipated to maintain its dominance by 2024 due to growing demand for glycolic acid based products for hair nourishment and scalp treatment.

Regional Outlook:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Italy
    • Germany
    • France
  • Asia Pacific
    • India
    • China
    • Japan
  • Latin America
    • Brazil
  • MEA
    • South Africa

Asia-Pacific accounted for the major share of the Glycolic Acid Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth includes increasing demand for anti-ageing products because of a rising aged population base, and production of a huge number of skincare and haircare markets.

Some of the key players that fuel the growth of the Glycolic Acid industry comprise Phorbol Animal Health Corporation, Parchem, Griffin International, Kureha Corporation, The Chemours Company, SimcoQC, Vornia Biomaterials, CrossChem LP, Zhonglan Industry Co, and DuPont. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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