The Chemours Company, Phibro chem, CrossChem LP, CABB Group,
Sigma-Aldrich Corporation, Zhonglan Industry Co, and Mehul Dye Chem Industries
among others are some of the prominent players at the forefront of competition
in the Global Glycolic Acid Market and are profiled in MRFR Analysis.
Glycolic Acid Market – Market Overview
Glycolic acid is alpha hydroxyl acid (AHA) which is high
soluble in aqueous solution and is generally colourless, odourless, and soluble
at room temperature. Glycolic acid is synthesized naturally as well as through
chemical reaction. Glycolic acid is produced naturally through vegetables and
fruits such as sugarcane, pineapple and sugar beets among others are gaining
high importance in the global Glycolic Acid Market. Glycolic Acid Market
expected to grow at CAGR of 6.09% owing to increasing use in skin and hair care
products coupled with rising development in cosmetic industry. Further, growing
demand of glycolic acid as additive in inks and paints is likely to propel the
overall market growth.
Get Sample Copy@ https://www.marketresearchfuture.com/sample_request/3141
Glycolic acid is used in personal care and cosmetic products
such as skin cream, moisturizer, acne face lines and shampoos formulation owing
to its exfoliating property and high-water solubility. Glycolic Acid Market is
expected to reach USD 375.5 million by the end of 2023. Growing demand of acne
products among aging population for reducing face lines, scars and marks are
further anticipated to drive the market growth. Commercially, glycolic acid is
prepared through synthesis of formaldehyde in presence of catalyst. This method
is widely adopted by various manufacturer owing to cost effective and advance
technology. Thus, rising expenditure on innovative and development in
production process for increasing scope of application is likely to boost the
global Glycolic Acid Market. Glycolic acid is used in formulation of
polyglycolic acid which is further used in extraction of shale gas. In
addition, adoption of polyglycolic acid in absorbable medical sutures and PET
bottles owing to high biodegradability are anticipated to provide new
opportunity for market participants in coming years. Subsequently, rising
awareness about side effects in cosmetics and personal care products along with
stringent regulatory trends are hampering the market growth.
The global Glycolic
Acid Market is segmented according to application as personal care,
textile dyeing and finishing, oil field, petroleum refining and others.
Personal care application is dominating with 28% of market share in global Glycolic
Acid Market. This is attributed to increasing demand of skin care and hair
treatment among youth population coupled with rising awareness about healthy
skin is likely to further boost the overall market growth. The textile dyeing
and finishing segment account for second largest market share owing to high
compatibility of product with surfactants, dyes and biocidal agents is expected
to drive the market growth over the forecast period.
The global glycolic acid is divided into five regions
including North America, Europe, Asia Pacific, Latin America and Middle East
& Africa. North America accounts for highest market share in terms of value
and volume. U.S. is leading country and projected to grow at CAGR of 5.49%
during forecast period. Increasing number of middle aged women using
anti-ageing products such as anti-wrinkle and acne removal scar is likely to
propel the growth. Europe is second largest market and will continue its
dominance in coming years. Rising number of cosmetic and personal care
manufacturer especially in France, UK and Italy are anticipated to drive the
market growth. Further, stringent regulations related to consumption of
glycolic acid in household products as well as personal care is expected to
drive the market growth. Asia Pacific exhibits significant growth over the
forecast period. China and India are leading countries owing to rapid
urbanization and changing lifestyle of consumer coupled with low manufacturing
cost driving manufacturer to shift the production base in order to increase
market share.
Glycolic Acid Market – Competitive Analysis
Glycolic Acid Market appears to be fragmented market owning to the presence of
numerous small and tier 2 players active in regional market. The strategies
traced from the analysis of recent developments of the key players include
acquisition and product launch. Migration of personal care and household
furnishing industries to emerging markets in order to tap opportunities are
further fuelling the growth of Glycolic Acid Market. Product development and
joint venture or collaboration are some of the strategies followed by regional
players. Company like The Chemours Company are prominent manufacturer in global
Glycolic Acid Market. Moreover, pharmaceutical companies are launching new
products based on glycolic acid to increase their market share.
Industry/ Innovation/ Related News:
October 2016 - Chemrous has launched a new product Glypure
Gl Cosmetic grade. The launch of new product will benefit the company in adding
a new product line in Glycolic acid. Glypure is an active ingredient in
anti-aging formulation which used in many personal care and cosmetic products.
With unique advantages, this product has proven ability to be first choice for
cosmetic grade glycolic acid.
Access Report Deatails @ https://www.marketresearchfuture.com/reports/glycolic-acid-market-3141
Market Research
Future (MRFR) is a global market research company that takes pride in its
services, offering a complete and accurate analysis with regard to diverse
markets and consumers worldwide. MRFR’s approach combines the proprietary
information with various data sources to give an extensive understanding to the
client about the latest key developments, expected events and also about what
action to take based on these aspects.
Our fast growing
industry research firm is backed by a proficient team of research analysts that
offers valuable analytics and data with respect to technological and economical
advancements. Our deemed analysts perform industrial visits and procure the
relevant information from prominent market players. Our key objective is to keep
our clients abridged of the potential opportunities and challenges in different
markets. We provide step-by-step assistance to our respected clients, via
strategic and consulting services to reach a managerial and actionable
decision.
Contact
Market Research Future
Maharashtra, India
+1 646 845 9312
No comments:
Post a Comment