The global Glycolic Acid Market is forecast to reach USD 853.41 Million by 2027, according to a new report by Reports and Data. The continuous growth of the makeup sector would contribute to a business upswing. Glycolic acid is used mainly in the manufacture of different skincare items, such as creams, face masks, and peels, which would cause this demand to expand. Increasing market perception, coupled with a rise in disposable per capita income with improving quality of life, mainly in India and China, are the main driving factors for growth in the industry. Since the advent of e-commerce, online companies, the proliferation of social networks, and customer demand in fresh, luxury, and various goods have emerged as a critical driver for the overall market growth. Increasing online buying demand for cosmetic products has allowed most manufacturers or suppliers to build up an extensive distribution network that, in effect, will stimulate hydroacoustic acid market development. Cosmetic items include serum for skin and anti-aging, lipsticks, mascara, sprays for hair care, moisturizers, cleansers, soap, scent, body wash, among many. About 95% of such items use hydroxyacetic acid as a raw material because it has benefits for the skin such as reduction of black circles, uneven pigmentation, widening of pores, dead skin, and enhancement of overall safety. Glycolic acid demand is also gaining popularity in other applications such as food preservatives, textiles, home appliances, automobiles, oil & gas, and pharmaceutical products.
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Besides, expanded usage of the compound in emulsion polymers and ink and paint additives is projected to drive demand over the forecast era. There is glycolic acid in vegetables, such as corn, pineapple, and unripe grapes. Increasing formaldehyde development, coupled with technological advancements to automate production technologies, will fuel the glycolic acid demand further. Increasing R&D spending has also culminated in an expanded market spectrum, which is projected to boost product demand across the forecast timeframe. Nevertheless, it is anticipated that high rates of knowledge regarding the adverse consequences of glycolic acids, such as skin allergies, would somehow inhibit market development. Strict regulations placed on the use of products in cosmeceutical formulations by regulatory bodies, such as the European Union, are also likely to impede production. On the other side, the growing appeal of natural cosmetics is expected to positively influence the dynamics of the industry in the coming years.
Leading companies operating in the market and profiled in the report include: Shandong Xinhua Pharmaceutical Co. Ltd., Zhonglan Industry Co. Ltd., Parchem Fine & Specialty Chemicals, China Petroleum & Chemical Corporation, Water Chemical Co. Ltd., Mehul Dye Chem Industries, Eastman Chemical Company, CABB GmbH, Avid Organics, and Saanvi Corporation, among others.
Purity Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
Glycolic Acid 99%
Glycolic Acid 70%
Glycolic Acid 30%
Others
Grade Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Million; 2017-2027)
Cosmetic
Technical
Others
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Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
Personal Care
Household
Textile
Food Processing
Pharmaceutical
Others
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