Global Glycolic Acid Market

Glycolic Acid Market Size, Share, Growth Analysis, By Purity(99%, 70%), By Application(Personal Care & Cosmetics, Household), By Grade(Cosmetic grade and technical grade) - Industry Forecast 2024-2031


Report ID: SQMG15E2052 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 92 | Figures: 77

Glycolic Acid Market Insights

Glycolic Acid Market size was valued at USD 306.75 million in 2019 and is poised to grow from USD 327 million in 2023 to USD 581.24 million by 2031, growing at a CAGR of 6.6% in the forecast period (2024-2031).

C₂H₄O₃, Glycolic acid is a type of alpha hydroxyl acid (AHA) generated through natural or synthetic processes. It is widely utilized in a variety of applications, including the production of plastics, adhesives, anti-aging lotions, hair care products, and chemical peels. Owing to the increasing demand from end-use applications, it is projected that the global glycolic acid market will have a large potential for growth in the near future. Moreover, due to its capabilities for cell recovery and exfoliation, glycolic acid is increasingly being used in a variety of applications, which is anticipated to fuel market expansion over the forecast period. Lactic acid and salicylic acid can both be replaced by glycolic acid.

Glycolic acid serves as an intermediary step in the synthesis of organic compounds. It is utilized as a monomer to create acid PGA (polyglycolic acid) and other copolymers. Numerous skin care products are made with glycolic acid. Since coronaviruses affect the respiratory system, their use may be restricted during the COVID pandemic due to the high dangers associated with cosmetic goods if inhaled. However, the lockdown imposed as a result of the epidemic has led to a fall in the cosmetics sector. Due to workforce scarcity and required social segregation, cosmetic firms have closed their production facilities. Additionally, in light of COVID-19, cosmetic producers are expanding their line of commercial personal care products. For instance, the German cosmetics manufacturer Beiersdorf will be bolstering the regional presence of its La Prairie, Nivea, and Maestro skincare brands in August 2020. These elements have had a detrimental effect on the global glycolic acid market and have constrained its expansion.

US Glycolic Acid Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 306.75 million

Largest Segment

0.99

Fastest Growth

0.99

Growth Rate

6.6% CAGR

Global Glycolic Acid Market 2021-2028 ($ Mn)
Country Share for Asia-Pacific Region- 2021 (%)
Global Glycolic Acid Market Size by Purity 2021-2028 ($ Mn)
Global Glycolic Acid Market Size by Purity 2021-2028 (%)

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Glycolic Acid Market Segmental Analysis

Global Glycolic Acid Market is segmented based on Purity, Application, grade, and Region. Based on Purity, the Glycolic Acid Market is segmented into 99%, 70%, 30%, and others. Based on the Application, the Glycolic Acid Market is segmented into personal care & cosmetics, household, textile, food processing, pharmaceutical, and others. Based on grade, the Glycolic Acid Market is segmented into Cosmetic grade and technical grade. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Glycolic Acid Market Analysis by Purity

The market is divided into three categories based on purity: 99 %, 70 %, and 30 %. Due to the growing use of this grade of glycolic acid in cosmetic items, 99 % of these hold the biggest market share. The primary drivers anticipated propelling market expansion are the rising use of glycolic acid of 99% purity in homes, pharmaceuticals, textile, and food processing industries. The pharmaceutical sector uses polymer with 70% based purity to create medical sutures and creams. Products including staples, sutures, implants, and meshes are made using polymers with timed-release features. Additionally, 30% acid is used on the skin in chemical peels to regenerate the surface and treat dry skin, age spots, and facial lines and wrinkles. It is a crucial component in the creation of anti-aging products. Additionally, it is used to treat skin diseases like seborrheic, actinic, and hyperkeratosis. Such a wide range of applications of the acid is likely to create potential opportunities for the global glycolic acid market.

Glycolic Acid Market Analysis by Application

Based on the applications, the market is divided into personal care & cosmetics, home, textile, food processing, pharmaceutical, and others. In terms of market revenue and volume among these applications, the personal care & cosmetics segment is anticipated to maintain its leadership during the forecast period. Due to its ability to improve and repair the skin as well as its anti-aging capabilities, glycolic acid is mostly utilized as a significant ingredient in the manufacture of anti-aging creams, lipsticks, shampoo, and hair treatment sprays, moisturizers, cleanser, scrub, scent, and body wash products. In turn, rising demand for these goods from the cosmetics industry will raise demand for the glycolic acid market.

In the home, glycolic acid is in high demand for uses like superb cleansers for sinks, porcelain tubs, toilet bowls, ceramic tiles, shower doors, and stalls. It extends the shelf life of food and serves as a preservative and flavoring ingredient. The market for food preservatives has grown as a result of the rising demand for packaged foods brought on by the growing population. Further, glycolic acid is used in the textile industry as a tanner and a dye for clothing. The expansion of the textile market, which in turn is driving the market, is supported by the expanding fashion sector and improved consumer lifestyle. Additionally, since it is used to clean copper substrates in electronics, there is an increase in demand for glycolic acid from the electronics industry, which is anticipated to drive the glycolic acid market growth in the upcoming years.

Global Glycolic Acid Market By Purity, 2021 (%), 2019 (%)

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Glycolic Acid Market Regional Insights

Based on the region, the Asia-Pacific region held the greatest market share in terms of revenue and volume in the past year due to the developing textile and cosmetics industries in China and India. China is a significant customer because of its extensive presence in the cosmetics sector to satisfy the growing consumer demand. The market in the region will be driven by evolving lifestyles and an escalating population with a preference for beauty and wellness products. The ever-expanding cosmetic business is the source of the growth in the demand for the glycolic acid market.

North America is anticipated to have significant market expansion. One of the biggest users of glycolic acid in the United States is the pharmaceutical business, where it is safely used to create bio-absorbable suture material. Better grade medical tools, like absorbable staples, screws, meshes, and stents, are being produced thanks to technological advancements in the medical industry, which will help the market grow in the upcoming years.

Europe is expected to have significant expansion in the global glycolic acid market due to strong demand from the textile industry. High-quality textiles are necessary to transform them into various outfits for the region's dominating fashion sector. Companies are developing novel products by utilizing cutting-edge technology to accomplish this, which is anticipated to stimulate market expansion in the region.

The use of glycolic acid as a food preservative and flavoring agent has arisen in Latin America as a result of rising consumer awareness of packaged foods and beverages, which has contributed to the expansion of the glycolic acid market. Further, the glycolic acid market is anticipated to expand significantly across the Middle East and Africa. The two main nations driving market expansion are Saudi Arabia and the United Arab Emirates. The market in this region is expanding as a result of the growing use of glycolic acid in many different applications, such as the creation of cosmetics, home cleaning products, and textiles. 

Global Glycolic Acid Market By Geography, 2021 - 2028, 2024-2031
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  • Fastest

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Glycolic Acid Market Dynamics

Glycolic Acid Market Driver

  • Alpha-hydroxy Acid is in high demand in the cosmetics sector, which will support market expansion: According to data from L'Oréal, the global market for cosmetics increased by more than 8.0% in 2021. More than 40% of the worldwide glycolic acid market was made up of products for skin care in 2021. Online businesses, the growth of social networks, an increase in per capita disposable income, and consumer interest in new, high-end, and distinctive items have emerged as key drivers of the overall growth of the cosmetics sector. The majority of manufacturers and producers have been able to build out extensive sales networks thanks to the growing popularity of online cosmetics purchasing, which may help glycolic acid's market expansion.

The market will grow as a result of ongoing advances in the cosmetics sector. The production of numerous skincare products, including creams, face masks, and peels, mostly use glycolic acid, which will increase demand. The main driver of rising product demand is an increase in consumer awareness, as well as an increase in per capita disposable income and an improvement in living conditions, particularly in India, Malaysia, and China. Lipsticks, shampoo, hair care treatment sprays, moisturizers, cleansers, scrubs, fragrances, body washes, and other items fall under the category of cosmetics. Almost 95% of these products include hydroxyacetic acid as a raw ingredient because it improves the skin by removing dark spots, uneven pigmentation, enlarged pores, dead skin, and improving general skin health.

Other industrial applications, such as food preservatives, the textile industry, household goods, electronics, oil & gas, and pharmaceutical items, are seeing an increase in demand for this commodity. This will accelerate the market's growth for the global glycolic acid industry.

Glycolic Acid Market Restraint

  • Market Will Be Affected by Glycolic Acid's Dangerous Effects on Health and the Environment: The skin may suffer from the prolonged use of glycolic acid in cosmetic and personal care products. When used excessively, it irritates the eyes and produces swelling, itchiness, and inflammation of the skin. Additionally, consistent chemical peeling might make skin more susceptible to UV radiation and make people more susceptible to sunburn. If present at high amounts for an extended period, inhalation can damage the liver, thymus, and respiratory system.

The product has certain negative environmental consequences due to the discharge of phosgene gas during the production of glycolic acid. The development of strict environmental restrictions regarding phosgene gas by various governments and groups has hampered industry expansion. Additionally, lactic and salicylic acids are the main alternatives and have a variety of uses. The use of these replacements as preservatives and the growing shift toward more organic ingredients in the manufacture of cosmetics goods are factors that limit the market growth.

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Glycolic Acid Market Competitive Landscape

Europe and Asia-Pacific are home to significant producers. China Petroleum & Chemical Corporation (Sinopec Corp.), The Chemours Company, CABB Group, and Saanvi Corp. are a few of the major market participants. Strong regional presences, product offerings, and distribution methods have been built by key market participants.

For use in biomedical equipment, Chemours Company uses polyglycolic acid (PGA) and lactic acid copolymers. In order to create synthetic bio-absorbable sutures, the pharmaceutical industry uses high purity acids with timed-release qualities to create polymers. The high purity glycolic acid grade (70%) offered by the company is perfect for the creation of PGA-based sutures and is also used to make staples, meshes, and other implants. The personal care, pharmaceutical, coatings, sealants, adhesives, metal plating, and industrial markets are among the industries served by Phibro Animal Health Corporation, specialized chemical distribution, and service firms. The company sells cosmetic products with an AHA concentration of 70%.

Glycolic Acid Market Top Player's Company Profiles

  • The Chemours Company
  • Zhonglan Industry Co., Ltd.
  • CABB Group GmbH
  • Parchem Fine & Specialty Chemicals
  • Water Chemical Co., Ltd.
  • CrossChem LP
  • Hebei Jingye Chemical Co., Ltd.
  • Chemsfield Korea Co., Ltd.
  • SIMCO Chemicals
  • Xi'an Unique Electronic and Chemical Co., Ltd.
  • Shandong Xindadi Industrial Group Co., Ltd.
  • Hefei TNJ Chemical Industry Co., Ltd.
  • Guangzhou Begin Chemical Co., Ltd.
  • Sinopec Jinling Petrochemical Co., Ltd.
  • Alpha Chemika
  • Salicylates and Chemicals Pvt. Ltd.
  • Dongguan Kaixin Battery Materials Co., Ltd.
  • Merck KGaA
  • Shaanxi Top Pharm Chemical Co., Ltd.
  • Solvay SA

Glycolic Acid Market Recent Developments

  • In November 2021, The Chemours Company launched a new glycolic acid product under the brand name Glyclean D. The new product is used as a disinfectant for various household and institutional cleaning applications.

Glycolic Acid Key Market Trends

  • Increased demand for glycolic acid in the oil and refining industries is growing, which is favoring the overall growth of the global glycolic acid market. There are abundant prospects for market expansion due to the expanding global demand for glycolic acid in the oil and refining sector as a cost-effective cleaning solution. By offering inexpensive metal complexing, glycolic acid offers cost-effective cleaning. In oil and refinery applications, it improves cleaning and scraping procedures. Additionally, it offers biodegradable metal complexing without increasing the designed products' unwanted chemical oxygen requirement. It does not stress-crack stainless steel when combined with hydrochloric acid, is easily biodegradable, and is not volatile. Additionally, it works well in household cleaning goods.

Glycolic Acid Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.

According to our analysis, the key drivers of the overall growth of the cosmetics sector are online businesses, the growth of social networks, an increase in per capita disposable income, and consumer interest in new, high-end, and distinctive items. Moreover, the majority of manufacturers and producers have been able to build out extensive sales networks thanks to the growing popularity of online cosmetics purchasing, which may help glycolic acid market growth.

Report Metric Details
Market size value in 2019 USD 306.75 million
Market size value in 2031 USD 581.24 million
Growth Rate 6.6%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Million
Segments covered
  • Purity
    • 99%, 70%, 30%, Others
  • Application
    • Personal Care & Cosmetics, Household, Textile, Food Processing, Pharmaceutical, Others
  • Grade
    • Cosmetic grade and technical grade
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • The Chemours Company
  • Zhonglan Industry Co., Ltd.
  • CABB Group GmbH
  • Parchem Fine & Specialty Chemicals
  • Water Chemical Co., Ltd.
  • CrossChem LP
  • Hebei Jingye Chemical Co., Ltd.
  • Chemsfield Korea Co., Ltd.
  • SIMCO Chemicals
  • Xi'an Unique Electronic and Chemical Co., Ltd.
  • Shandong Xindadi Industrial Group Co., Ltd.
  • Hefei TNJ Chemical Industry Co., Ltd.
  • Guangzhou Begin Chemical Co., Ltd.
  • Sinopec Jinling Petrochemical Co., Ltd.
  • Alpha Chemika
  • Salicylates and Chemicals Pvt. Ltd.
  • Dongguan Kaixin Battery Materials Co., Ltd.
  • Merck KGaA
  • Shaanxi Top Pharm Chemical Co., Ltd.
  • Solvay SA

Glycolic Acid Market Recent Developments

  • In November 2021, The Chemours Company launched a new glycolic acid product under the brand name Glyclean D. The new product is used as a disinfectant for various household and institutional cleaning applications.
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Glycolic Acid Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Glycolic Acid Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Glycolic Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Glycolic Acid Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Glycolic Acid Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Glycolic Acid Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Glycolic Acid Market size was valued at USD 306.75 million in 2019 and is poised to grow from USD 327 million in 2023 to USD 581.24 million by 2031, growing at a CAGR of 6.6% in the forecast period (2024-2031).

Europe and Asia-Pacific are home to significant producers. China Petroleum & Chemical Corporation (Sinopec Corp.), The Chemours Company, CABB Group, and Saanvi Corp. are a few of the major market participants. Strong regional presences, product offerings, and distribution methods have been built by key market participants. 'The Chemours Company', 'Zhonglan Industry Co., Ltd.', 'CABB Group GmbH', 'Parchem Fine & Specialty Chemicals', 'Water Chemical Co., Ltd.', 'CrossChem LP', 'Hebei Jingye Chemical Co., Ltd.', 'Chemsfield Korea Co., Ltd.', 'SIMCO Chemicals', 'Xi'an Unique Electronic and Chemical Co., Ltd.', 'Shandong Xindadi Industrial Group Co., Ltd.', 'Hefei TNJ Chemical Industry Co., Ltd.', 'Guangzhou Begin Chemical Co., Ltd.', 'Sinopec Jinling Petrochemical Co., Ltd.', 'Alpha Chemika', 'Salicylates and Chemicals Pvt. Ltd.', 'Dongguan Kaixin Battery Materials Co., Ltd.', 'Merck KGaA', 'Shaanxi Top Pharm Chemical Co., Ltd.', 'Solvay SA', 'In November 2021, The Chemours Company launched a new glycolic acid product under the brand name Glyclean D. The new product is used as a disinfectant for various household and institutional cleaning applications.'

Alpha-hydroxy Acid is in high demand in the cosmetics sector, which will support market expansion: According to data from L'Oréal, the market for cosmetics increased by more than 8.0% in 2021. More than 40% of the worldwide glycolic acid market was made up of products for skin care in 2021. Online businesses, the growth of social networks, an increase in per capita disposable income, and consumer interest in new, high-end, and distinctive items have emerged as key drivers of the overall growth of the cosmetics sector. The majority of manufacturers and producers have been able to build out extensive sales networks thanks to the growing popularity of online cosmetics purchasing, which may help glycolic acid's market expansion.

Increased demand for glycolic acid in the oil and refining industries is growing, which is favoring the overall growth of the glycolic acid market. There are abundant prospects for market expansion due to the expanding demand for glycolic acid in the oil and refining sector as a cost-effective cleaning solution. By offering inexpensive metal complexing, glycolic acid offers cost-effective cleaning. In oil and refinery applications, it improves cleaning and scraping procedures. Additionally, it offers biodegradable metal complexing without increasing the designed products' unwanted chemical oxygen requirement. It does not stress-crack stainless steel when combined with hydrochloric acid, is easily biodegradable, and is not volatile. Additionally, it works well in household cleaning goods.

Based on the region, the Asia-Pacific region held the greatest market share in terms of revenue and volume in the past year due to the developing textile and cosmetics industries in China and India. China is a significant customer because of its extensive presence in the cosmetics sector to satisfy the growing consumer demand. The market in the region will be driven by evolving lifestyles and an escalating population with a preference for beauty and wellness products. The ever-expanding cosmetic business is the source of the growth in the demand for the glycolic acid market.

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Global Glycolic Acid Market

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