Press release
Glyoxylic Acid Market is projected to reach USD 849.1 million by 2023 with 5.44% CAGR during review period of 2017-2023
Glyoxylic Acid Market
Glyoxylic Acid or oxo-acetic acid is an organic compound used as a chemical intermediate in various industries. It is one of the prominent C2-carboxylic acid compound after acetic acid, and oxalic acid. It is produced from catalytic oxidation of glyoxal. It is used in to produce various downstream products which are used in range of end use industries. The prominent derivatives of Glyoxylic Acid Market are allantoin, vanillin, P-hydroxyphenylglycine, DL-p-hydroxy phenylhydantoin, 2-hydroxyl-phosphine acetic acid and others. Among all these derivatives, allantoin and vanillin are the most prominently used in several end use industries. Allantoin is used as a keratolitic ingredient in skin care products and is estimated to account highest market share in the global market by 2017 end. Allantoin segment is followed by vanillin market segment owing to its high use in food & beverage industry in aroma application. Furthermore, prominent Glyoxylic Acid applications are personal care & cosmetics, aromas, pharmaceutical, agrochemicals and others. Personal care & cosmetics and pharmaceutical are estimated to be the leading Glyoxylic Acid application accounting for more than 30% of the overall Glyoxylic Acid consumption in 2017. Agrochemicals is relatively smaller market segment accounting for niche share in the overall market. The segment is witnessing slower growth owing to presence of suitable alternatives in the market.
Request a Sample Report @ https://www.marketresearchfuture.com/sample_request/3158
The market is estimated to exhibit single digit CAGR of 5.27% over the forecast period, 2017-2023. The market growth is attributed to various market driven factors affecting the overall consumption in 2017-2023. Some of the major driving factors considered in the report are increasing production of allantoin, increasing demand for vanillin in food & beverage industry, and increasing production of various downstream products in different industries. Allantoin is a leading downstream product of Glyoxylic Acid and is estimated to witness higher consumption owing to increasing demand for keratolytic ingredients in skin care products. The growing allantoin demand is in turn estimated to boost market demand for Glyoxylic Acid. Moreover, increasing vanillin application in food & beverage industry is estimated to be another driving factor for the market. Increasing manufacturer’s focus on producing pure form of Glyoxylic Acid is a coherent trend in the market. The Global Glyoxylic Acid Market is anticipated to reach USD 849.1 Mn in 2023 end from USD 76.7 Mn in 2016.
Market Highlights:
Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, “Global Glyoxylic Acid MARKET was valued at USD 589.9 million in 2016 and is expected to grow at 5.44% CAGR to reach USD 849.1million by the end of 2023. Glyoxylic Acid consumption in the global market can be attributed to the considerable demand for its derivatives among its major end-use industries cosmetic & personal care, pharmaceuticals and food & beverages. For instance, allantoin is widely consumed in the cosmetic industry for manufacturing of skincare products, thus, the subsequent growth of personal care and cosmetic industry is anticipated to boost the demand for glyoxylic acid globally.
Considering the urbanization rate in developing regions and the changing lifestyle of the consumers and increasing awareness towards healthcare and diseases has led to substantial spending on healthcare and personal care, which in turn is boosting demand for various cosmetic products. Glyoxylic Acid being a key raw material in the manufacturing of various derivatives used in the latter cosmetic product is expected to drive the market for Glyoxylic Acid. Furthermore, the increasing consumption of synthetic flavors in the food & beverage industry for enhancing the aroma and taste has led to an impetus demand for Glyoxylic Acid globally.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/glyoxylic-acid-market-3158
Segment Analysis:
The Global Glyoxylic Acid Market is segmented on the basis of derivatives, application and region. On the basis of derivatives, Global Glyoxylic Acid Market is segmented into allantoin, vanillin, P-hydroxyphenylglycine, DL-p-hydroxy phenylhydantoin, and 2-hydroxyl-phosphine acetic acid among others. Based on application, the Global Glyoxylic Acid is segmented into— Personal Care & Cosmetic Ingredient, Pharmaceuticals, Aroma, and Agrochemicals among others.
The different types of Glyoxylic Acid Derivatives discussed in the report viz., allantoin, vanillin, P-hydroxyphenylglycine, DL-p-hydroxy phenylhydantoin, and 2-hydroxyl-phosphine acetic acid among others. Among all the derivatives, allantoin accounts for the largest share in the global glyoxylic acid market, owing to the substantial demand for allantoin in the cosmetic industry as a key ingredient for manufacturing of skincare products. On the plus side, the skincare segment in the global personal care & cosmetics market accounts for the largest share, which in turn is propelling the demand for allantoin, adding substantial value to the Global Glyoxylic Acid Market. Furthermore, the consumption of allantoin in the pharmaceuticals for the manufacturing of dermatologic products is anticipated to foster demand for Glyoxylic Acid Market. Based on the consumption of Glyoxylic Acid Derivatives, vanillin accounts for the second-largest share with CAGR of 5.49% in the global market. The protuberant factors substantiating the growth of vanillin includes, the consumption of vanillin as an aroma enhancing and flavoring agent in the food & beverage industry, in addition, the considerable growth of food flavoring agents market can be further anticipated to boost the consumption of vanillin in the food & beverage industry, in turn adding value to the Global Glyoxylic Acid Market.
Key Points from Table of Contents:
10 Company profile
10.1 Akema Fine Chemicals
10.1.1 Overview
10.1.2 Product Overview
10.1.3 Financial Updates
10.1.4 Key Developments
10.2 Hubei Hongyuan Pharmaceutical Technology Co. Ltd
10.2.1 Overview
10.2.2 Product/Business Segment Overview
10.2.3 Financial Updates
10.2.4 Key Developments
10.3 Stan Chemicals
10.3.1 Company Overview
10.3.2 Product/Business Segment Overview
10.3.3 Financial Update
10.3.4 Key Developments
10.4 WeylChem International GmbH
10.4.1 Company Overview
10.4.2 Product/Business Segment Overview
10.4.3 Financial Updates
10.4.4 Key Developments
10.5 Zhonglan Industry Co
10.5.1 Company Overview
10.5.2 Product/Business Segment Overview
10.5.3 Financial Updates
10.5.4 Key Developments
Make an Enquiry before buying @ https://www.marketresearchfuture.com/enquiry/3158
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: salesteam@marketresearchfuture.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Glyoxylic Acid Market is projected to reach USD 849.1 million by 2023 with 5.44% CAGR during review period of 2017-2023 here
News-ID: 706012 • Views: …
More Releases from Market Research Future - MRFR
Maritime Freight Transport Market Expected to Hit USD 634.57 Billion by 2034
Maritime freight transport forms the backbone of the trade system. Over 80% of the world's merchandise trade by volume and about 70% by value are carried by sea, underscoring the significance of maritime transport in enabling international commerce. From raw materials and food products to manufactured goods and machinery, maritime freight transport is a cost-effective, energy-efficient, and scalable solution that underpins the modern supply chain.
As trade evolves, so too does…
Healthcare Logistics Market Poised to Growth USD 237.39 Billion by 2034 with Thr …
The healthcare logistics market plays a critical role in the medical ecosystem, ensuring that pharmaceuticals, medical devices, diagnostics, and other essential healthcare products are delivered efficiently, safely, and on time. From cold chain management for vaccines to last-mile delivery of emergency medical supplies, the logistics infrastructure in healthcare determines the accessibility and reliability of health services worldwide.
In recent years, factors such as rising chronic diseases, of pharmaceutical manufacturing, growing demand…
Sustainable Packaging Set to Grow at an Impressive CAGR of 10.30% Through 2030 | …
Sustainable packaging refers to the development and use of packaging solutions that have minimal environmental impact and footprint. It incorporates the use of renewable, recyclable, or biodegradable materials, and designs that reduce waste and energy usage throughout the product lifecycle. As environmental concerns intensify and consumer preferences shift toward eco-friendly alternatives, the sustainable packaging market is experiencing robust growth.
From e-commerce to food and beverage, personal care, pharmaceuticals, and industrial applications,…
USA Pulp and Paper Market Poised to Growth USD 69.33 Billion by 2034
The pulp and paper industry in the United States has long been a cornerstone of the nation's manufacturing sector. From producing writing paper, packaging materials, tissue products, and newsprint to serving industrial and specialty applications, the industry continues to adapt in response to technological advancements, environmental regulations, and changing consumer behaviors.
Although traditionally seen as a mature sector, the USA pulp and paper market is currently undergoing significant transformation. With the…
More Releases for Glyoxylic
The multifaceted charm of glyoxylic acid CAS 298-12-4
Glyoxylic acid CAS 298-12-4, has a molecular formula of CHO and a molecular weight of 74.04. Its aqueous solution is a colorless transparent liquid, slightly soluble in ethanol, ether and benzene.
Glyoxylic acid is an important organic compound, consisting of an aldehyde group (-CHO) and a carboxyl group (-COOH), with a structural formula of HOCCOOH. It has a variety of physical and chemical properties, such as a relative density (d) of…
Glyoxylic Acid Market Size, Share, Development by 2023
Glyoxylic acid or oxoacetic acid is an organic compound that is both an aldehyde and a carboxylic acid. Glyoxylic acid is a liquid and is an intermediate of the glyoxylate cycle, which enables certain organisms to convert fatty acids into carbohydrates.
LPI (LP Information)' newest research report, the "Glyoxylic Acid Industry Forecast" looks at past sales and reviews total world Glyoxylic Acid sales in 2022, providing a comprehensive analysis by region…
Glyoxylic Acid Market Size, Status, Growing Demand and Supply 2022
In 2020, the global Glyoxylic Acid market size was US$ 176.1 million and it is expected to reach US$ 134.7 million by the end of 2027, with a CAGR of -3.8% during 2021-2027.
Global Glyoxylic Acid Market Research Report published by market insight reports explores the recent outlook in global and key regions from the perspective of Major Players, Countries, Product Types, and end industries. This report studies top players in the global…
Glyoxylic Acid Market Key Trends and Regional Assessment by 2030
Albany, NY - Glyoxylic Acid Market: Overview
The glyoxylic acid market is progosticated to display a notable growth rate over the 2020- 2030 forecast period. The growing demand for glyoxylic acid from the agrochemicals segment is a primary factor spelling growth in the glyoxylic acid market. The high volume use of agrochemicals in the agriculture sector for higher crop yield is indirectly influencing the demand for glyoxylic acid.
Key parameters based on…
Glyoxylic Acid Market Key Trends, Competitive Landscape and Regional Assessment …
Albany, NY - Glyoxylic Acid Market: Overview
The glyoxylic acid market is progosticated to display a notable growth rate over the 2020- 2030 forecast period. The growing demand for glyoxylic acid from the agrochemicals segment is a primary factor spelling growth in the glyoxylic acid market. The high volume use of agrochemicals in the agriculture sector for higher crop yield is indirectly influencing the demand for glyoxylic acid.
Key parameters based on…
Major Suppliers In Glyoxylic Acid Market to Undertake Strapping Growth During 20 …
The latest research report published by Fact.MR on the Glyoxylic Acid Market is intended to offer reliable data on various key factors shaping the growth curve of the global Glyoxylic Acid market. This report works as a rich source of information for key entities such as policy makers, end-use industries, investors, and opinion leaders. Thus, readers get complete synopsis on drivers, restraints, challenges, trends, and growth opportunities in the market…
