The
global glycolic acid market is expected to reach USD
415.0 million by 2024, according to a new report by Grand View Research, Inc.
Growing use of the product in various applications including personal care and
household is expected to drive demand. The product is extensively used in the
manufacturing of cleaning agent formulations as well as skin care creams, thus
promoting its growth.
Personal
care application is expected to be valued at over USD 96.0 million in 2015
driven by increasing use of the product in cosmeceutical preparations such as
skin creams, lotions for treatment of blackheads, acne face lines and the
treatment of oiliness. In addition, the demand for glycolic acid based skin
peels for face cleansing is expected to bolster the demand over the forecast
period.
 |
| U.S. glycolic acid market revenue, by application, 2013 - 2024 (USD Million) |
Growing
use of the product in shampoo formulations for treatment of dandruff and hair
conditioning is expected to augment demand over the projected period. However,
availability of alternate products such as salicylic acid coupled with
stringent regulations by bodies such as Food and Drug Administration (FDA)
limiting the concentration of glycolic acid in personal care products is
expected to restrain growth.
Browse full
research report on Glycolic Acid Market: www.grandviewresearch.com/industry-analysis/glycolic-acid-industry
Further
key findings from the report suggest:
- The industrial application segment is expected
to be valued at over USD 42.0 million by 2024 owing to its increasing
application scope in concrete removal, dairy and food equipment cleaner,
industrial chemical manufacturing, oil and petrol refining and metal
cleaning & finishing. Superior properties exhibited by the product
including corrosion resistance, negligible odor, low toxicity, and low
inflammability are expected to promote its use over the forecast period.
- In Europe, the market in Italy is expected to
exhibit highest growth rate of over 11.5% from 2016 to 2024 owing to
increasing demand for glycolic acid in the production of skin care creams
and lotions and face peels. In addition, increasing demand for glycolic
acid by cosmetics manufacturers in the country is expected to drive the
demand for the product over the forecast period.
- Asia Pacific is expected to witness highest
CAGR of over 12.0% over the period 2016 to 2024 driven by rising demand
for glycolic acid based household cleaners coupled with a growing demand
for beauty products. Abundant raw material availability coupled with the
presence of a large number of manufacturer base is likely to have a
positive impact on market growth.
- Key players in the industry include Parchem,
DuPont, CrossChem LP, Phibro Animal Health Corporation and Chemsolv Inc.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/organic-chemicals-and-compounds
Grand View Research has segmented the glycolic acid market on the basis
of application and region:
Glycolic
Acid Market Application Outlook (Volume, Tons; Revenue, USD Million, 2013 -
2024)
- Personal
Care
- Household
- Industrial
- Others
Glycolic
Acid Market Regional Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- Asia
Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle
East & Africa
- South
Africa
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-glycolic-acid-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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