About Glycolic Acid
Glycolic acid is an alpha-hydroxy acid that is derived from a variety of microorganisms from ethylene glycol by oxidation as well as from glycolonitrile by hydrolyzation. It is used in various applications such as skin care, organic synthesis, agriculture, and others. The demand for glycolic acid has increased due to the rising demand for personal care products. For instance, in July 2016, according to an article published by India Brand Equity Foundation, India's beauty, cosmetic and grooming market will reach USD 20 billion by 2025. Hence, rising demand for personal & cosmetic products and rising disposal income among middle-class families will further accelerate the market growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.9% |
Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product. Analyst at AMA Research estimates that United States and China Vendors will contribute the maximum growth to Global Glycolic Acid market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
The Chemours Company (United States), DuPont (United States), China Petrochemical Corporation (China), CABB Group (Germany), Zhonglan Industry Co., Ltd. (China), Water Chemical Co., Ltd (China), Xinhua Pharm (China), Phibro Animal Health Corporation (United States), Avid Organics (India), Hebei Chengxin Co., Ltd. (China) and Hefei TNJ Chemical Industry Co., Ltd. (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Parchem Trading Ltd. (United States), CrossChem LP (United States), Griffin International (United States) and Chemsolv, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Glycolic Acid market by , Application (Skincare, Organic synthesis, Agriculture, Laboratory and Others) and Region.
On the basis of geography, the market of Glycolic Acid has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Vertical , the sub-segment i.e. Cosmetic industry will boost the Glycolic Acid market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Grade, the sub-segment i.e. Technical Grade will boost the Glycolic Acid market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology Advancement regarding Glycolic Acid Products
Market Growth Drivers:
Growing Demand for Glycolic Acid in the Cosmetic Industry and Rising Demand for Anti-Aging as well as Anti-Pollution Products
Challenges:
High Prices of some Glycolic Acid Products
Restraints:
Stringent Regulations Concerning the Usage of Glycolic Acid
Opportunities:
Growing Demand from Emerging Economics such as China, India, among others and Increasing Demand for Effective as well as Efficient Household Cleaner
Market Leaders and their expansionary development strategies
On January 1st, 2023, Dow Chemical and DuPont merged to form DowDuPont. This merger combined the two companies' glycolic acid businesses, creating a leading global supplier of the product.
On May 1st, 2023, Evonik launched a new line of bio-based glycolic acid products. These products were made from renewable feedstocks, such as sugar cane, and were aimed at meeting the growing demand for sustainable ingredients in the cosmetics and personal care industries.
Key Target Audience
Glycolic Acid Companies, Research and Development Companies, Government Regulatory Authorities, Product Sales and Distribution Companies, Market Research and Consulting Firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.