The global Glycolic Acid Market is Segmented By Grade (Cosmetic grade, Industrial Grade), By Purity(100% Glycolic Acid, 70% Glycolic Acid, 30% Glycolic Acid, Others), By Application(Cosmetics, Cosmetics, Cleaning, Tanning & Dyeing Agent, Others), By End-User (Personal Care & Cosmetics, Textile Industry, Food Industry, Others), And By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Glycolic Acid Market Share, Size, Demand Insights
The global "Glycolic Acid Market" size is estimated to reach at a high CAGR 11.54% during the forecast period 2024-2031.
Glycolic Acid Market Scope and Summary
Metrics | Details |
Market CAGR | 11.54% |
Segments Covered | By Grade, By Purity, By Application, By End-User, and By Region |
Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
Fastest Growing Region | Asia Pacific |
Largest Market Share | North America |
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Glycolic acid is the smallest alpha-hydroxy acid, a hygroscopic crystalline solid. It is odorless and colorless, as well as highly soluble in water. In addition, glycolic acid is relatively stronger than acetic acid, owing to its greater electron-withdrawing power. Glycolic acid finds applications in a wide range of industries. It is used as a tanning and dyeing agent in the textile industry. In the food processing industry, it is used as a preservative and a flavoring agent.
The major advantage of glycolic acid is its application in skin care products. The ingredient can tackle dullness, hyperpigmentation, and signs of skin aging, such as lines and wrinkles, without breaking a sweat. Also, it is used in plastics, solvents, adhesives, emulsion polymers, paint, and ink additives. In addition, glycolic acid is an important active ingredient in floor cleaning products such as pine-sol.
Glycolic Acid Market Dynamics and Trends
The growing application of glycolic acid in the cosmetic industry and increased demand for glycolic acid in household cleaning drive its market. However, some serious side effects of glycolic acid on the skin and health.
The growing application of glycolic acid in the cosmetic industry is expected to drive the market
Glycolic acid is an exfoliant. It helps shed dead skin cells and expose the newer, brighter layers underneath by acting on the outer layer of the skin. The outermost layer consists of tightly packed layers of dead skin cells that are tightly bonded together. Glycolic acid loosens these bonds by dissolving their glue. Henceforth, rough layers of dead skin cells can more easily slough away.
Moreover, of all AHAs, glycolic is the simplest structure and has the lowest molecular weight. Therefore, it's easy to penetrate your skin and go deeper into it too. Glycolic acid stimulates fibroblasts in the dermis to produce increased amounts of collagen. And stimulating collagen production, helping skin feel firmer, and minimizing fine lines and wrinkles.
Therefore, the growing significance of glycolic acid has led significant players to invest, thus launching products, and driving the glycolic acid market. For instance, in April 2021, Carbon Theory, a UK-based indie beauty brand, launched Spot Paste & Glycolic Acid Cleansing Pads. It helps to reduce inflammation and gives a brighter complexion.
Moreover, in July 2021, Good Molecules launched Glycolic Exfoliating Toner. It gives smoother, brighter skin with its gentle resurfacing treatment.
Increased demand for glycolic acid in household cleaning drives the market
Glycolic acid has wide compatibility with various ingredients like surfactants, corrosion inhibitors, biocidal agents, fragrances, and dyes. It's easy to formulate an effective cleaner and is safer & more environmentally sound compared to mineral acid-based cleaners.
Glycolic acid has low pKa and molecular weight, which increases its efficacy on hard water scales. It is highly efficient at complexing calcium salts, effectively removing soap scum, bathroom scale, and other hard water scales. Therefore, the growing significance of glycolic acid in cleaning has led major players to invest, thus launching products, and driving the glycolic acid market.
For instance, The Chemours Company develops Glyclean™ AM, which contains 68% glycolic acid. It is U.S. EPA-registered as an active ingredient for liquid disinfectant formulations. It is an excellent choice for use on hard, non-porous surfaces in household, industrial, institutional, or commercial environments. Moreover, it can be used as disinfecting cleaner for agricultural and food processing facilities and equipment.
Some serious side effects of glycolic acid on skin and health are expected to restrain the market
The increasing use of glycolic acid in cosmetic & personal care products may have some side effects and harm the skin. In excess use, it irritates the eyes, swelling, itching, and inflammation of the skin. In addition, regular chemical peeling can cause the skin to be vulnerable to UV radiation and increase skin sensitivity in people to sunburn.
Moreover, glycolic acid manufacturing releases phosgene gas. Stringent environmental regulations imposed by governments and associations over phosgene are a restraining factor for market growth. Besides, salicylic acids and lactic are the major substitutes and can be used for various applications.
COVID-19 Impact on Glycolic Acid Market Growth
According to Azelis, a life science company, the impact of the COVID-19 outbreak will have a clear and lasting change in which demand for color cosmetics is anticipated to slow down. However, there are new opportunities for personal care companies. For instance, there is a need for more 'me-time and self-care due to social isolation and distancing. The demand for cosmeceutical products with bioactive ingredients, which have medical benefits, will increase tremendously.
Glycolic Acid Market Segment and Shares Analysis
The glycolic acid market is segmented into 99%, 70%, 30%, and others based on purity.
Among these, 99% accounts for the largest market share due to the increased use of this grade of glycolic acid in cosmetic products. Increasing usage of glycolic acid with 99% purity in households, textile, pharmaceuticals, and food processing industries is expected to drive market growth.
70% based purity is used in the pharmaceutical industry to produce polymer for cream and medical sutures. Polymers with timed-release properties are utilized to manufacture products such as staples, implants, sutures, and meshes. Whereas glycolic acid 30% is also used as chemical peels for skin where it improves dry skin, and age spots, decreases facial lines, reduces wrinkles, and rejuvenates the skin&surface. It is an essential ingredient in manufacturing anti-aging products. Also, it is used for skin conditions such as hyperkeratosis, actinic keratosis, and seborrheic keratosis.
Glycolic Acid Market Geographical Analysis
The Glycolic Acid market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa based on geography.
The Asia Pacific represented the largest share of the overall industry regarding income and volume and is relied upon to stay the biggest over the forecast period due to growing beauty care products and material ventures in China and India. China is a significant customer because of the enormous presence of the restorative business to fulfill the expanding buyer need. Changing ways of life and expanding the populace with a tendency toward magnificence and well-being items will drive the market in the district. Its expanding interest in glycolic acid from the steadily developing restorative industry is liable for the development of this market.
Europe is projected to observe huge development in the worldwide market because of the appeal of the material business. The style business, predominant in the area, requires excellent textures to change into various outfits. Organizations are attempting imaginative item improvement by joining trend-setting innovations, which are relied upon to cultivate market development in the locale.
Then again, North America is relied upon to observe huge development in the worldwide market. The drug business in the U.S. is one of the significant customers of glycolic acid, which is utilized to make bio-absorbable stitch material with no mischief. Innovative progression in the clinical field is helping in the creation of better quality clinical instruments, like absorbable staples, screws, cross-sections, and stents that will uphold market development.
Glycolic Acid Companies and Competitive Landscape
The Glycolic Acid Market is moderately consolidated with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include The Chemours Company, China Petrochemical Corporation, CABB Group, Zhonglan Industry Co., Ltd., Water Chemical Co., Ltd, Xinhua Pharm, Phibro Animal Health Corporation, Avid Organics, Hebei Chengxin Co., Ltd., Hefei TNJ Chemical Industry Co., Ltd. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the growth of the Glycolic Acid Market globally.
The Chemours Company
Overview: The Chemours Company, generally referred to as Chemours, is an American chemical company. The company is headquartered in Delaware, U.S.
Product Portfolio: The Chemours Company offers cosmetic and technical grades of glycolic acid for use in formulations for many end-use products, including the household, industrial, and personal care sectors.
Key Developments:
- In 2018, The Chemours Company introduced a new glycolic acid produced by Glypure. It is used explicitly in the production of biodegradable polymers.
Frequently Asked Questions
What is the Projected CAGR value of the Glycolic Acid Market?
The Glycolic Acid Market is expected to grow at a high CAGR of 11.54% from 2022 to 2029.
Which region controlled the global market during 2022-2029?
North America region Controls the Glycolic Acid Market during 2022-2029
Which is the fastest-growing region in the Glycolic Acid Market?
Among all regions, Asia Pacific is the fastest-growing market share during the forecast period.
