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Global Glycolic Acid Market To Be Driven By Increased Demand From Personal Care Application In The Forecast Period Of 2021-2026

01-17-2023 06:45 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Expert Market Research

Global Glycolic Acid Market To Be Driven By Increased Demand From

The new report by Expert Market Research titled, 'Global Glycolic Acid Market Report and Forecast 2021-2026', gives an in-depth analysis of the North America Glycolic Acid market, assessing the market based on its segments like grade, application and major regions like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.

Get a Free Sample Report with Table of Contents: https://www.expertmarketresearch.com/reports/glycolic-acid-market/requestsample

The key highlights of the report include:

Market Overview (2016-2026)

Historical Market Size (2020): USD 6 million

Forecast CAGR (2021-2026): 86%

Forecast Market Size (2026): USD 447.8 million

The global Glycolic Acid market has seen decent growth in the historical period, due to its plethora of applications. Apart from its usage in cosmetics as an exfoliant, its application as a cleaning agent in oil and refining industry has rapidly propelled this market growth.

Industry Definition and Major Segments

Glycolic acid (C2H4O3) is an alpha hydroxy acid that is water soluble and extracted from sugarcane. It is an odourless, colourless, and hygroscopic crystalline solid that aids in the separation of skin cell connections in the outer layers of skin and promotes exfoliation. This crystalline solid absorbs moisture from the surrounding environment.

Furthermore, glycolic acid is used as a preservative and flavouring agent in the food industry. It is also used in the textile industry as a dyeing and tanning agent. Glycolic acid is also employed as a substitute for lactic acid and salicylic acid, and as a monomer in the preparation of polyglycolic acid (PGA) and other copolymers.

Explore full report with table of contents: https://www.expertmarketresearch.com/reports/glycolic-acid-market

Based on grade, the market is segregated into:

Cosmetic
Technical

On the basis of application, the industry is split into:

Personal Care
Household
Industrial

The global market for Glycolic Acid is:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Market Trends

Personal care accounted for a substantial share of the market in terms of use, owing to growing demand for glycolic acid-based products for scalp and hair treatment. Over the forecast era, rising customer awareness about the benefits of glycolic acid on skin health, as well as the demand for skin care products, are expected to boost glycolic acid consumption in the skincare industry, thereby assisting the segment's growth.

Furthermore, rising living standards in the world's developed economies would enable people to spend more on personal care items. This is anticipated to contribute to the overall market's growth. Meanwhile, the household application segment is expected to rise significantly during the forecast period. This can be due to the increased use of glycolic acid in items such as bathroom and kitchen cleaners, which are expected to see increased demand in order to preserve bathroom and kitchen hygiene.

Regionally, Europe is a major player in the glycolic acid industry. The rising demand for premium cosmetics and anti-aging products is expected to drive up demand for glycolic acid in the area. The high consumer buying power and increased knowledge of glycolic acid's numerous skin benefits are expected to drive market growth during the forecast period. Furthermore, the involvement of major cosmetic manufacturers in countries such as Italy and France is expected to be a major driving force in the European glycolic acid industry.

The instability of raw material prices in personal care goods limits the concentration of glycolic acid, which can be a limiting factor in market growth. Apart from that, people are becoming more conscious of the negative or harmful effects of glycolic acid use, which is causing allergies in some skin types and, in certain ways, limiting the use of glycolic acid globally. The developed economies have placed strict regulations on manufacturers concerning the capping that is used for a pharmaceutical formulation that acts as a barrier over the forecasted period.

Key Market Players

The major players in the market are Jiaxing Jilat Chemical Co., Ltd., Avid Organics Pvt. Ltd., China Petrochemical Corporation, Water Chemical Co., Ltd, Zhonglan Industry Co.,Ltd. and few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Media Contact:

Company Name: Claight Corporation
Contact Person: Frara Prih, Corporate Sales Specialist - U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: www.expertmarketresearch.com
LinkedIn:- https://www.linkedin.com/company/expert-market-research

About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients' requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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