Glycolic Acid Market 2018 | Emerging Trends, Highlights and Challenges Forecast 2023

24/lug/2018 07:25:57 Market Research Future Contatta l'autore

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The Global Glycolic Acid Marketis expected to grow moderately at CAGR of 6.09% over the forecast period 2017-2023.Glycolic Acid Market valued USD 249.9 million in 2016 and is expected to reach USD 375.5 million by the end of 2023. Rising awareness regarding skincare and hair care along with growth in personal care products are some of the prominent trends and drivers supporting the growth of global glycolic acid market. More, demand for skin lightning and anti-aging products from youth populations boost the skincare ingredients market. Moreover, the global glycolic acid market is propelling with increasing spending on household cleaning. Naturally processed glycolic acid has surpassed the production of chemically processed glycolic acid, which is likely to affect the growth of the market over the forecast period, positively. However,

The Global Glycolic Acid Market is segmented according to application as personal care, textile dyeing and finishing, oil field, petroleum refining and others. Global care application is dominating with 28% of the market share in the global glycolic acid market. Is skilled to increase the overall market growth. The textile dyeing and finishing segment account for the second largest market share owing to high product compatibility 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 the highest market share in terms of value and volume. US is leading country and projected to grow at CAGR of 5.49% during forecast period. Anti-aging products with anti-wrinkle and acne removal. Europe is second largest market and will continue its dominance in coming years. Rising number of cosmetic and personal care manufacturers 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. Asia Pacific exhibits significant growth over the period. China and India are leading countries in order to increase market share.

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 Industry / Innovation / Related News: 

October 2016 - Chemrous has launched a new product Glypure Gl Cosmetic grade. The launch of new product will be added to the new product line in Glycolic acid. Glypure is an active ingredient in anti-aging formulation which has been used in many personal care and cosmetic products. With unique advantages, this product has proven to be the first choice for cosmetic grade glycolic acid.

Key Findings:

The Global Glycolic Acid Market is projected to reach USD 375.5 million by 2023 at a CAGR of 6.09% in terms of value in review period 2017-2023. Increasing demand for skincare and skin care projected to boost the market growth during the forecast period. North America accounted for ~ 34% share of the Global Glycolic Acid Market followed by Europe. North America and Asia Pacific are forecast to grow at the healthy rate of 6.23% and 6.0% respectively during the forecast period. Based on source, synthetic will hold 68% of the market share in 2017 as it is most frequently used in personal care products. In terms of value, the synthetic will witness higher growth rate 6.49%. Based on application, personal care with more than 28% of market share in 2016

Additionally, consumers' expenditure on beauty products has been increasing significantly from the last few years. The global oil field and textile & dying sector are likely to hold around half of the market share in 2017, collectively. Increased demand for glycolic acid in the textile industry as dyeing and tanning agent

Glycolic Acid Market - Competitive Analysis

Glycolic Acid Market appears to be fragmented. Acquisition of the key players includes acquisition and product launch. Migration of personal care and household furnishing industries to emerging markets in order to tap opportunities are further fueling the growth of the Glycolic Acid Market. Product development and joint venture or collaboration are some of the strategies followed by regional players. Company like The Chemours Company is a prominent manufacturer in the Global Glycolic Acid Market. Moreover, pharmaceutical companies are launching new products based on Glycolic Acid to increase their market share.

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