Global Glycolic Acid Market Size, Trends, By Grade (Technical Grade, Pharmaceutical Grade, Cosmetic Grade), By Application (Personal Care, Household, Industrial, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa): Global Opportunity Analysis and Industry Forecast, 2023-2030.
Global Glycolic Acid Market
The Global Glycolic Acid Market was valued at US$ 325.21 Mn in 2022, estimated to reach US$ 542.78 Mn by 2030, with a CAGR of 6.58% from 2023-2030.
Glycolic acid is a type of alpha hydroxy acid (AHA) derived from sugar cane and certain fruits. It is a colorless, odorless, and highly soluble crystalline solid that is commonly used in skincare products due to its ability to exfoliate and improve skin texture. Glycolic acid works by breaking down the bonds between dead skin cells, allowing them to be removed more easily, which can help to reduce the appearance of fine lines, hyperpigmentation, and acne scars. It is also believed to stimulate collagen production and improve skin hydration.
Market Drivers
The market for glycolic acid is driven by several factors, including the increasing demand for personal care products, rising consumer awareness about the benefits of glycolic acid in skincare, and growing demand for anti-aging products. Glycolic acid is widely used in the cosmetics and personal care industry due to its excellent exfoliating and moisturizing properties. It is also used in the manufacturing of industrial and pharmaceutical products, which further fuels the growth of the market.
Additionally, the growing popularity of at-home skincare treatments and the availability of innovative glycolic acid-based products are expected to drive the market growth in the coming years. With the increasing demand for natural and organic ingredients in personal care products, the market for glycolic acid derived from natural sources is expected to witness significant growth.
Market Restraints
The global glycolic acid market is expected to be restrained by the high cost of production, which leads to increased product prices, thus reducing its affordability to end-users. Additionally, the use of glycolic acid can cause skin irritation and other side effects, which may limit its adoption, particularly in cosmetic applications.
The availability of substitutes, including lactic acid and salicylic acid, further limits the growth of the market. Regulatory restrictions and the lack of standardization in the production of glycolic acid may also pose significant challenges to the growth of the market.
Market Segmentation
The scope of the global glycolic acid market covers segmentation based on grade, application, and region.
Based on the grade, the global glycolic acid market is segmented into technical grade, pharmaceutical grade, and cosmetic grade. Based on the application, the market is segmented into personal care, household, industrial, and others.
Regional Analysis
The global glycolic acid market is segmented into 5 main regions, namely, North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The Asia Pacific region is expected to continue its dominance in the Glycolic acid market owing to the tremendous demand for personal care products, increasing disposable income, and a large population base. Countries like China, India, Japan, and South Korea are expected to drive the market in the region due to their rapidly developing cosmetics and personal care industries. Additionally, the growing awareness about skin care among consumers and the adoption of western lifestyles are contributing to the market's growth in the region.
Key Players
The Chemours Company, CABB Group, Zhonglan Industry Co Ltd, Hebei Chengxin Co Ltd, Crosschem, Mehul Dye Chem Industries, Parchem, Water Chemical Co Ltd, Avid Organics, Saanvi Corp, etc.
Market Taxonomy
By Grade
• Technical Grade
• Pharmaceutical Grade
• Cosmetic Grade
By Application
• Personal Care
• Household
• Industrial
• Others
By Region
• North America
o U.S.
o Canada
o Mexico
• Latin America
o Brazil
o Argentina
o Colombia
o Peru
o Chile
o Venezuela
o Rest of Latin America
• Europe
o Germany
o France
o UK
o Russia
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o New Zealand
o Singapore
o Malaysia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest Middle East & Africa
Key Questions Addressed by the Report
• What are the key opportunities in the Global Glycolic Acid Market?
• What will be the growth rate from 2023 to 2030?
• Which segment/region will have the highest growth?
• What are the factors that will impact/drive the market?
• What is the competitive landscape in the industry?
• What is the role of key players in the value chain?
Global Glycolic Acid Market
1 Introduction
1.1 Objective of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Glycolic Acid Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to Recent Energy Crisis
4.2.5 Cumulative Impact due to Nearing Economic Downturn
4.2.6 Post Covid-19 World Supply & Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Glycolic Acid Market, By Grade
5.1 Y-o-Y Growth Comparison, By Grade
5.2 Global Glycolic Acid Market Share Analysis, By Grade
5.3 Global Glycolic Acid Market Size and Forecast, By Grade
5.3.1 Technical Grade
5.3.2 Pharmaceutical Grade
5.3.3 Cosmetic Grade
6 Global Glycolic Acid Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Glycolic Acid Market Share Analysis, By Application
6.3 Global Glycolic Acid Market Size and Forecast, By Application
6.3.1 Personal Care
6.3.2 Household
6.3.3 Industrial
6.3.4 Others
7 Global Glycolic Acid Market, By Region
7.1 Global Glycolic Acid Market Share Analysis, By Region
7.2 Global Glycolic Acid Market Size and Forecast, By Region
7.3 Global Glycolic Acid Market Trends and Forecast, By Region
8 North America Glycolic Acid Market Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Glycolic Acid Market Share Analysis, By Grade
8.3 North America Glycolic Acid Market Size and Forecast, By Application
8.4 North America Glycolic Acid Market Size and Forecast, By Country
8.4.1 U.S.
8.4.1.1 Market Size and Forecast, By Grade
8.4.1.2 Market Size and Forecast, By Application
8.4.2 Canada
8.4.2.1 Market Size and Forecast, By Grade
8.4.2.2 Market Size and Forecast, By Application
8.4.3 Mexico
8.4.3.1 Market Size and Forecast, By Grade
8.4.3.2 Market Size and Forecast, By Application
9 Europe Glycolic Acid Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Glycolic Acid Market Share Analysis, By Grade
9.3 Europe Glycolic Acid Market Size and Forecast, By Application
9.4 Europe Glycolic Acid Market Size and Forecast, By Country
9.4.1 Germany
9.4.1.1 Market Size and Forecast, By Grade
9.4.1.2 Market Size and Forecast, By Application
9.4.2 France
9.4.2.1 Market Size and Forecast, By Grade
9.4.2.2 Market Size and Forecast, By Application
9.4.3 UK
9.4.3.1 Market Size and Forecast, By Grade
9.4.3.2 Market Size and Forecast, By Application
9.4.4 Russia
9.4.4.1 Market Size and Forecast, By Grade
9.4.4.2 Market Size and Forecast, By Application
9.4.5 Italy
9.4.5.1 Market Size and Forecast, By Grade
9.4.5.2 Market Size and Forecast, By Application
9.4.6 Spain
9.4.6.1 Market Size and Forecast, By Grade
9.4.6.2 Market Size and Forecast, By Application
9.4.7 Rest of Europe
9.4.7.1 Market Size and Forecast, By Grade
9.4.7.2 Market Size and Forecast, By Application
10 Asia Pacific Glycolic Acid Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Glycolic Acid Market Share Analysis, By Grade
10.3 Asia Pacific Glycolic Acid Market Size and Forecast, By Application
10.4 Asia Pacific Glycolic Acid Market Size and Forecast, By Country
10.4.1 China
10.4.1.1 Market Size and Forecast, By Grade
10.4.1.2 Market Size and Forecast, By Application
10.4.2 Japan
10.4.2.1 Market Size and Forecast, By Grade
10.4.2.2 Market Size and Forecast, By Application
10.4.3 India
10.4.3.1 Market Size and Forecast, By Grade
10.4.3.2 Market Size and Forecast, By Application
10.4.4 South Korea
10.4.4.1 Market Size and Forecast, By Grade
10.4.4.2 Market Size and Forecast, By Application
10.4.5 Australia
10.4.5.1 Market Size and Forecast, By Grade
10.4.5.2 Market Size and Forecast, By Application
10.4.6 New Zealand
10.4.6.1 Market Size and Forecast, By Grade
10.4.6.2 Market Size and Forecast, By Application
10.4.7 Singapore
10.4.7.1 Market Size and Forecast, By Grade
10.4.7.2 Market Size and Forecast, By Application
10.4.8 Malaysia
10.4.8.1 Market Size and Forecast, By Grade
10.4.8.2 Market Size and Forecast, By Application
10.4.9 Rest of Asia
10.4.9.1 Market Size and Forecast, By Grade
10.4.9.2 Market Size and Forecast, By Application
11 Latin America Glycolic Acid Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Glycolic Acid Market Share Analysis, By Grade
11.3 Latin America Glycolic Acid Market Size and Forecast, By Application
11.4 Latin America Glycolic Acid Market Size and Forecast, By Country
11.4.1 Brazil
11.4.1.1 Market Size and Forecast, By Grade
11.4.1.2 Market Size and Forecast, By Application
11.4.2 Argentina
11.4.2.1 Market Size and Forecast, By Grade
11.4.2.2 Market Size and Forecast, By Application
11.4.3 Colombia
11.4.3.1 Market Size and Forecast, By Grade
11.4.3.2 Market Size and Forecast, By Application
11.4.4 Peru
11.4.4.1 Market Size and Forecast, By Grade
11.4.4.2 Market Size and Forecast, By Application
11.4.5 Chile
11.4.5.1 Market Size and Forecast, By Grade
11.4.5.2 Market Size and Forecast, By Application
11.4.6 Venezuela
11.4.6.1 Market Size and Forecast, By Grade
11.4.6.2 Market Size and Forecast, By Application
11.4.7 Rest of Latin America
11.4.7.1 Market Size and Forecast, By Grade
11.4.7.2 Market Size and Forecast, By Application
12 Middle East Glycolic Acid Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Glycolic Acid Market Share Analysis, By Grade
12.3 Middle East Glycolic Acid Market Size and Forecast, By Application
12.4 Middle East Glycolic Acid Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.1.1 Market Size and Forecast, By Grade
12.4.1.2 Market Size and Forecast, By Application
12.4.2 UAE
12.4.2.1 Market Size and Forecast, By Grade
12.4.2.2 Market Size and Forecast, By Application
12.4.3 Egypt
12.4.3.1 Market Size and Forecast, By Grade
12.4.3.2 Market Size and Forecast, By Application
12.4.4 Kuwait
12.4.4.1 Market Size and Forecast, By Grade
12.4.4.2 Market Size and Forecast, By Application
12.4.5 South Africa
12.4.5.1 Market Size and Forecast, By Grade
12.4.5.2 Market Size and Forecast, By Application
12.4.6 Rest of Middle East & Africa
12.4.6.1 Market Size and Forecast, By Grade
12.4.6.2 Market Size and Forecast, By Application
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 The Chemours Company
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 CABB Group
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 Zhonglan Industry Co Ltd
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Hebei Chengxin Co Ltd
14.4.1 Overview
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Crosschem
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Mehul Dye Chem Industries
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Parchem
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Water Chemical Co Ltd
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Avid Organics
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Saanvi Corp
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies
