Glycolic Acid Market to Witness a CAGR of 6.03% during 2020 to 2026, Globally – Axiom MRC
The report analyses the global glycolic acid market based on grade, application and geography. Various grades studied in this report are cosmetic grade and technical grade. The major applications of the market are hypermarket/supermarket, specialty store, convenience store, online stores and other applications household, industrial, personal care & dermatology, others (tanning & dyeing, agriculture, adhesive, medical and food). Increasing use of the product in various industrial applications, such as high purity electronics and semiconductor processing and tanning and leather dying, is expected to augment the segment growth. In addition, it is used as a raw material for the production of Polyglycolic Acid (PGA), which is extensively used in medical sutures owing to high biodegradability.
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The key companies in the glycolic acid market are Avid Organics, CABB Group Gmbh, Cangzhou Goldlion Chemicals Co., Ltd, China Petrochemical Corporation, Crosschem LP, Hangzhou Lingrui Chemical Co., Ltd., Hebei Chengxin Co., Ltd., Hefei TNJ Chemical Industry Co., Ltd., Jiaxing Jlight Chemicals Co., Ltd., Mehul Dye Chem Industries, Phibro Animal Health Corp., Sancaiindustry, Siddharth Chlorochem, The Chemours Company, Velocity Chemicals Ltd., Water Chemical Co., Ltd, Wuhan Biocar Bio-Pharm Co., Ltd., Xinhua Pharm, Xinji City Taida Sinopec Co., Ltd., Zhonglan Industry Co., Ltd. Etc.
Glycolic Acid Market Regional Trends:
Europe was a lucrative region for the glycolic acid market in 2019. Increasing demand for anti-aging and acne removal creams is expected to drive the market further over the forecast period. Presence of various cosmetics manufacturers in Italy and France is also likely to boost market growth. However, stringent regulations by the European Commission regarding the product use may hinder the growth. China is expected to exhibit the highest CAGR in Asia Pacific over the forecast period driven by increasing product use in industrial, cosmeceutical, and household applications. Furthermore, low manufacturing cost coupled with a rapidly developing economy is expected to drive the demand in the country.
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Glycolic Acid Market Segmental Highlights:
• Growing demand for glycolic acid-based skin and hair care products is expected to drive the market over the forecast period
• In addition, product properties, such as excellent water solubility and a high degree of acidity, make it an ideal choice for creams and ointments for wrinkle treatment and scar removal
• The current demand for cosmetic grade glycolic acid is majorly supported by the increasing use of cosmetic products in day to day owing to rising self-care awareness and increasing skin related problems
Research Objectives of Glycolic Acid Market Report:
• Analyzing the outlook of the market with the recent trends and Porter’s five forces analysis.
• Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period.
• Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects.
• Country-level analysis, integrating the demand and supply forces that are influencing the growth of the Glycolic Acid Market.
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years.
• Comprehensive company profiles, covering the product offerings, key financial information, recent developments and strategies employed by the major market players
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