Glyoxylic Acid Market - Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2029
Glyoxylic acid Market: Introduction
Glyoxylic acid is an organic colorless chemical compound. It is a colorless liquid/solid that occurs naturally, and it has wide application across the various industries. Glyoxylic acid has low melting and high boiling point. Together with glycolic acid, acetic, acid, and oxalic acid, glyoxylic is one of the C2 carboxylic acids. Aqueous solution of the glyoxylic acid light yellow or transparent colorless liquid, which is soluble in water and ethanol and partially soluble in the organic solvents. Glyoxylic is a highly reactive chemical compound and strong acid having two functional groups such as a carboxylic group and an aldehyde group. Owing to its bi-functionality, glyoxylic acid is a versatile reagent in fine and organic chemical syntheses. Furthermore, glyoxylic acid and its derivatives are widely used across the various industries for different application such as reducing agent for electroless copper plating, visual detection of biogenic amines, and derivative for oomycete fungicides. Moreover, glyoxylic acid plays a key role in the human metabolite, which acts as an intermediate of the glyoxylate cycle and enables the certain orgasms of the human body to convert the fatty acid into carbohydrates.
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Glyoxylic acid Market: Dynamics
Globally, the glyoxylic acid consumption is predominantly driven by the growing demand from the various end-use industries such as pharmaceutical, personal care & cosmetics, and agrochemicals among others for various applications across the globe. Glyoxylic acid derivative allantoin is broadly used in the cosmetics and personal care industry, because of its activeness in skin softening and cell regeneration by the precipitating proteins on skins. The global healthcare landscape is changing rapidly and people are spending more on their health-related needs. Factors, such as changing lifestyles, food habits, sleeping habits, etc., are contributing to this change. With people getting more health-conscious, the demand for pharmaceuticals is increasing across the globe. Furthermore, the growing demand for fungicides in the global agrochemical industry for pest control and enhancing crop productivity also play a key role in the growth of the glyoxylic acid market. All such kind of macro factors is projected to lay a strong platform for the glyoxylic acid market growth during the forecast period. However, the limited application and market consolidation in some regions across the globe are anticipated to hampering the glyoxylic acid market growth in the upcoming years.
Glyoxylic acid Market: Segmentation
Global glyoxylic acid market can be segmented on the basis of form, product type, derivatives, end-use industry, and region.
Based on the form, the glyoxylic acid market is segmented into:
Based on the product type, the glyoxylic acid market is segmented into:
Glyoxylic Acid 50%
Glyoxylic Acid 40%
Based on the derivatives, the glyoxylic acid market is segmented into:
2- hydroxyl- phosphine acetic acid
Based on the end-use industry, the glyoxylic acid market is segmented into:
Cosmetics and Personal Care
Glyoxylic acid Market: Regional outlook
Geographically, the Asia Pacific is one of the leading producer and consumer of the glyoxylic acid, and it is estimated to account for dominant market share in the global glyoxylic acid market throughout the forecast period. In the emerging economies of the Asia Pacific growth of various end-use industries such as agrochemicals, pharmaceutical, and personal care & cosmetics are primarily projected the Asia Pacific as a lucrative region during the forecast period. Together, North America and Europe are estimated to hold a significant share in the global glyoxylic acid market and grow with steady pace during the forecast period. Because of well-established pharmaceutical and personal care industry in those regions. Latin America is projected to witness significant growth in the global glyoxylic acid market during the forecast period, owing to the growing demand for fungicides in the agriculture industry. Moreover, the Middle East and Africa are expected to witness steady growth in the global glyoxylic acid market in the upcoming years, because of inaugurating new research and development centers in the various end-use industries across the regions.
Glyoxylic acid Market: Market participants
Some of the market participants involved in the Glyoxylic acid market are:
Haihang Industry Co., Ltd.
WeylChem International GmbH
STAN Chemical Co., Ltd.
Zhonglan Industry Co., Ltd.
Hefei TNJ Chemical Industry Co., Ltd.
Labeyond Chemicals Co., Ltd.
Hubei Hongyuan Pharmaceutical technology Co., Ltd.
Amzole India Pvt. Ltd.
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