Glycolic Acid Market Size Worth USD 671.84 Billion By 2032 | Growth Rate (CAGR) Of 9.10%
hanumant B
SR. Research Analyst | Food and Beverages | Consumer Goods | Manufacturing and Construction | IT and Telecom | Healthcare | | Energy | Electronics and Semiconductor | Chemical & Materials | IMR Market Reports
Glycolic Acid Market Size Was Valued at USD 306.79 Billion in 2023 and is Projected to Reach USD 671.84 Billion by 2032, Growing at a CAGR of 9.10% From 2024-2032.
Glycolic acid, a member of the alpha hydroxy acids (AHAs) group, is commonly found in fruits and vegetables such as sugarcane, pineapple, and unripe grapes. With the smallest molecular size among AHAs, it easily penetrates the skin, making it a highly effective ingredient in cosmetic formulations for skin treatments. As the demand for personal care products rises, the glycolic acid market is experiencing substantial growth.
Beyond cosmetics, glycolic acid is also used in the production of poly glycolic acid (PGA) and absorbable sutures, which are essential in surgical and medical applications. The growing focus on healthcare improvements, particularly in emerging economies, is expected to increase the demand for these sutures, further boosting glycolic acid demand.
The Major Players Covered in this Report:
Merck KGaA, DuPont, CrossChem Limited, Parchem fine & specialty chemicals, Phibro Animal Health Corporation, Chemsolv, Inc., Griffin International, Mehul Dye Chem Industries, The Chemours Company, Vytrus Biotech, Other Key Players
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Glycolic Acid Market Trend Analysis
Increasing Demand for Glycolic Acid in the Cosmetics and Personal Care Sector
One good sized trend is the growing demand for glycolic acid inside the cosmetics and personal care zone. Glycolic acid, recognized for its exfoliating properties, is widely utilized in skin care products along with facial cleansers, peels, and anti-getting older creams. The growing client cognizance approximately skincare and the rising choice for products that provide anti-getting old blessings are propelling the demand for glycolic acid-primarily based formulations.
Through meticulous segmentation analysis and extensive geographical coverage, we offer a deep understanding of regional trends. A key aspect of our Glycolic Acid report is the thorough examination of company profiles and competitive landscapes. This provides detailed insights into market players' roles, overviews, operating business segments, products, and financial performance. By meticulously evaluating critical metrics like production volume, sales volume, and sales margin, we offer a comprehensive understanding of their market position.
Segmentation of The Glycolic Acid Market
By Purity
?99%, 70%, 30%, Others
By Applications
Personal Care, Household, Industrial, Others
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Regional Analysis:
Key Industry Developments in the Glycolic Acid Market:
In June 2023, a worldwide chemical organisation, The Chemours Company, regarded for its expertise in performance substances, titanium technologies, and thermal & specialised answers, reached a deal to promote its enterprise associated with glycolic acid. The enterprise can be bought for a cash quantity of USD 137 million to PureTech Scientific Inc. Through this acquisition, PureTech Scientific targets to set up itself as a main worldwide player within the natural synthesis of ultra-excessive purity alpha hydroxy acids, catering to the distinctiveness chemical and life sciences industries. The final touch of the transaction is predicted to take location inside the 1/3 region of 2023, difficulty to regulatory approvals and customary closing conditions.
Study Objectives of this report are:
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