Product Code: CH 1544
"The growth in glycolic acid demand is majorly driven by its increasing consumption in the cosmetics and personal care industry, particularly in the anti-aging and anti-pollution skincare segment."
The glycolic acid market size is estimated to be USD 280 million in 2019 and is projected to reach USD 395 million by 2024, at a CAGR of 7.2%. The rapidly developing and growing demand for glycolic acid in the cosmetics industry, specifically as a preferred ingredient in anti-aging, anti-pollution, and over the counter skincare products is expected to drive the market demand for glycolic acid during the forecast period. In addition, the considerable consumption of glycolic acid as a keratolytic agent for the treatment of dermatological diseases will further contribute to driving its market demand.
Apart from these household and industrial cleaners are also major consumers of glycolic acid the expansion of which is witnessed in developing regions owing to economic development, rising population, growing per capita income and increasing standards of living thus contributing in the development of the glycolic acid market. However, the added disadvantage of skin damage if not used with care and in accurate concentration can act as a restraint for the market growth.
"Cosmetic is the fastest-growing grade of glycolic acid."
Cosmetic is the fastest-growing grade of the glycolic acid market globally during the forecast period. The huge preference of cosmetic grade glycolic acid in personal care and cosmetics products owing its unmatched ability to treat skin problems including fine lines, irregular pigmentation, age spots, and enlarged pores along with unique advantages in hair care with the proven benefits of hair moisturization, softness, strength and others are expected to drive the cosmetic grade glycolic acid demand in future.
"Personal care & dermatology is the largest application of glycolic acid."
Personal care & dermatology is the most extensive application of glycolic acid. The increasing demand for glycolic acid-based night peeling concentration, sleep-in mask, acne face & body scrub, and others products along with rising per capita spending and growing beauty needs with the increase in the standard of living are some of the factors expected to drive the glycolic acid demand in personal care & dermatology application.
"APAC is the largest and the fastest-growing market for glycolic acid."
APAC is projected to register the highest growth rate during the forecast period owing to the presence of major glycolic acid markets such as China and Japan as well as emerging economies such as India, South Korea, Thailand, and Indonesia. The region is expected to witness substantial demand for glycolic acid during the forecasted period owing to the robust growth and development witnessed in the sectors such as cosmetics and personal care, manufacturing, healthcare, industrial and others. Further, the development of the country's economy, trade, and FDI along with minimal rules and regulatory standards governing the business operations makes the region a highly attractive market for different end-use industries of glycolic acid thus boosting the market demand.
Extensive primary interviews were conducted in the process of determining and verifying sizes of different types, end-user of the glycolic acid market gathered through secondary research.
The breakdown of primary interviews is given below:
- By Company Type: Tier 1 - 60%, Tier 2 - 20%, and Tier 3 - 20%
- By Designation: C-Level Executives - 9%, Director-Level - 27%, and Others - 64%
- By Region: North America - 20%, Europe - 20%, APAC - 40%, South America - 10%, and MEA - 10%
The key companies profiled in this report on the glycolic acid market include: The Chemours Company (US), China Petrochemical Corporation (China), CABB Group (Germany), Zhonglan Industry Co., Ltd. (China), Water Chemical Co., Ltd (China), Xinhua Pharm (China), Phibro Animal Health Corporation (US), Avid Organics (India), Hebei Chengxin Co., Ltd. (China), Hefei TNJ Chemical Industry Co., Ltd. (China).
The glycolic acid market has been segmented based on grade, application, and region. This report covers the glycolic acid market and forecasts its market size until 2024. It also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their position in the glycolic acid market. The report also provides insights into the drivers and restraints in the glycolic acid market along with opportunities and challenges. The report also includes profiles of top manufacturers in the glycolic acid market.
Reasons to Buy the Report:
The report is expected to help market leaders/new entrants in the following ways:
- 1. This report segments the glycolic acid market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.
- 2. This report is expected to help stakeholders understand the pulse of the glycolic acid market and provide information on key market drivers, restraints, challenges, and opportunities influencing the market growth.
- 3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the glycolic acid market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as new product development and expansions.
TABLE OF CONTENTS
- 1.1 OBJECTIVES OF THE STUDY
- 1.2 MARKET DEFINITION
- 1.3 MARKET SCOPE
- 1.3.1 GLYCOLIC ACID SEGMENTATION
- 1.3.2 REGIONS COVERED
- 1.3.3 YEARS CONSIDERED FOR THE STUDY
- 1.4 CURRENCY
- 1.5 LIMITATIONS
- 1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.2 BASE NUMBER CALCULATION
- 2.2.1 SUPPLY-SIDE APPROACH
- 2.2.2 DEMAND-SIDE APPROACH
- 2.3 MARKET SIZE ESTIMATION
- 2.3.1 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
- 2.3.2 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
- 2.4 PRIMARY DATA
- 2.4.1 KEY DATA FROM PRIMARY SOURCES
- 2.4.2 BREAKDOWN OF PRIMARY INTERVIEWS
- 2.5 ASSUMPTIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 ATTRACTIVE OPPORTUNITIES IN THE GLYCOLIC ACID MARKET
- 4.2 GLYCOLIC ACID MARKET IN APAC, BY GRADE AND COUNTRY, 2018
- 4.3 GLYCOLIC ACID MARKET, BY GRADE, 2018
- 4.4 GLYCOLIC ACID MARKET, REGIONAL SHARE
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
- 184.108.40.206 Growing demand for glycolic acid in the cosmetic industry
- 220.127.116.11 Increasing glycolic acid consumption in varied applications
- 5.2.2 RESTRAINTS
- 18.104.22.168 Skin problems caused by the use of glycolic acid-based cosmetic products
- 5.2.3 OPPORTUNITIES
- 22.214.171.124 Growing demand for biodegradable polymers to increase the glycolic acid consumption
- 5.2.4 CHALLENGES
- 126.96.36.199 Stringent regulations regarding the usage of glycolic acid
- 5.3 PORTER'S FIVE FORCES ANALYSIS
- 5.3.1 BARGAINING POWER OF SUPPLIERS
- 5.3.2 THREAT OF NEW ENTRANTS
- 5.3.3 THREAT OF SUBSTITUTES
- 5.3.4 BARGAINING POWER OF BUYERS
- 5.3.5 INTENSITY OF COMPETITIVE RIVALRY
- 5.4 MACROECONOMIC INDICATORS
- 5.5 PERSONAL CARE SECTOR REVENUE
6 GLYCOLIC ACID MARKET, BY PURITY
- 6.1 INTRODUCTION
- 6.1.1 GLYCOLIC ACID 99%
- 188.8.131.52 Huge demand for glycolic acid 99% in the medical application will impact the market growth
- 6.1.2 GLYCOLIC ACID 70%
- 184.108.40.206 Glycolic acid 70% is majorly used in dermatology and industrial cleaning applications
- 6.1.3 GLYCOLIC ACID 30%
- 220.127.116.11 The demand for glycolic acid 30% in skin peel application under in the cosmetic industry is likely to increase
- 6.1.4 OTHERS
- 18.104.22.168 Glycolic Acid 60%
- 22.214.171.124 Glycolic Acid 57%
7 GLYCOLIC ACID MARKET, BY GRADE
- 7.1 INTRODUCTION
- 7.1.1 COSMETIC GRADE
- 126.96.36.199 Increasing demand for skincare creams owing to adverse climatic condition and growing old age population will have positive impacts on the market
- 7.1.2 TECHNICAL GRADE
- 188.8.131.52 Huge consumption of glycolic acid in industrial cleaning application with special reference to boiler cleaning is expected to drive the market
8 GLYCOLIC ACID MARKET, BY APPLICATION
- 8.1 INTRODUCTION
- 8.1.1 PERSONAL CARE & DERMATOLOGY
- 184.108.40.206 Growing demand for anti-aging and anti-pollution products will drive the market
- 8.1.2 INDUSTRIAL
- 220.127.116.11 The consumption of glycolic acid is increasing in industrial cleaning application due to its beneficial properties
- 8.1.3 HOUSEHOLD
- 18.104.22.168 Increasing demand for effective and efficient household cleaners with antimicrobial properties will drive the market
- 8.1.4 OTHERS
- 22.214.171.124 Dyeing & Tanning
- 126.96.36.199 Adhesive
- 188.8.131.52 Agriculture
- 184.108.40.206 Medical
- 220.127.116.11 Food
9 GLYCOLIC ACID MARKET, BY REGION
- 9.1 INTRODUCTION
- 9.2 APAC
- 9.2.1 CHINA
- 18.104.22.168 The country has a strong manufacturing base of glycolic acid
- 9.2.2 JAPAN
- 22.214.171.124 The presence of major cosmetic and manufacturing industries will drive the glycolic acid market
- 9.2.3 INDIA
- 126.96.36.199 The rapidly growing economy of the country will influence the different application industries of glycolic acid
- 9.2.4 SOUTH KOREA
- 188.8.131.52 The presence of large industrial sector will drive the glycolic acid market
- 9.2.5 THAILAND
- 184.108.40.206 Growing industrial and personal care industry will increase the demand for glycolic acid
- 9.2.6 INDONESIA
- 220.127.116.11 Presence of major cosmetics and beauty products market will drive the glycolic acid market
- 9.2.7 REST OF APAC
- 9.3 NORTH AMERICA
- 9.3.1 US
- 18.104.22.168 Increasing demand for vegan cosmetic products will significantly support the market growth
- 9.3.2 CANADA
- 22.214.171.124 The demand for different skincare products is increasing in the country
- 9.3.3 MEXICO
- 126.96.36.199 The presence of the prominent cosmetic industry will augment the demand for glycolic acid
- 9.4 EUROPE
- 9.4.1 GERMANY
- 188.8.131.52 The country's large cosmetic market will positively impact the glycolic acid market growth
- 9.4.2 UK
- 184.108.40.206 Increasing awareness toward skincare products will drive the glycolic acid market
- 9.4.3 ITALY
- 220.127.116.11 The consumption of glycolic acid in the beauty & personal care and manufacturing industries is significantly high
- 9.4.4 FRANCE
- 18.104.22.168 The country is a major cosmetic hub, which definitely will support the glycolic acid market
- 9.4.5 SPAIN
- 22.214.171.124 The growing beauty & personal care industry will drive the glycolic acid market
- 9.4.6 RUSSIA
- 126.96.36.199 The country is witnessing strong demand for different skincare products
- 9.4.7 TURKEY
- 188.8.131.52 The presence of strong industrial sector will increase the glycolic acid demand
- 9.4.8 REST OF EUROPE
- 9.5 MIDDLE EAST & AFRICA
- 9.5.1 SAUDI ARABIA
- 184.108.40.206 Increasing demand for halal-certified and organic products will positively impact the market
- 9.5.2 UAE
- 220.127.116.11 The growing cosmetic & personal care sector will drive the glycolic acid market
- 9.5.3 SOUTH AFRICA
- 18.104.22.168 Presence of industries including personal care, industrial manufacturing, textile, and others will drive the market
- 9.5.4 REST OF THE MIDDLE EAST & AFRICA
- 9.6 SOUTH AMERICA
- 9.6.1 BRAZIL
- 22.214.171.124 The prominent industrial sector will drive the market of glycolic acid
- 9.6.2 ARGENTINA
- 126.96.36.199 The country has strong manufacturing and industrial sectors, which will drive the market
- 9.6.3 REST OF SOUTH AMERICA
10 COMPETITIVE LANDSCAPE
- 10.1 INTRODUCTION
- 10.2 MARKET RANKING OF GLYCOLIC ACID MANUFACTURERS
- 10.3 COMPETITIVE SITUATIONS & TRENDS
- 10.3.1 EXPANSION
- 10.3.2 NEW PRODUCT DEVELOPMENT
11 COMPANY PROFILES
(Business overview, Products offered, Recent Developments, SWOT Analysis MNM view)*
- 11.1 THE CHEMOURS COMPANY
- 11.2 CABB GROUP GMBH
- 11.3 CHINA PETROCHEMICAL CORPORATION
- 11.4 WATER CHEMICAL CO., LTD
- 11.5 ZHONGLAN INDUSTRY CO., LTD.
- 11.6 XINHUA PHARM
- 11.7 PHIBRO ANIMAL HEALTH CORP.
- 11.8 HEBEI CHENGXIN CO., LTD.
- 11.9 HEFEI TNJ CHEMICAL INDUSTRY CO., LTD.
- 11.10 AVID ORGANICS
12 ADDITIONAL COMPANY PROFILES
- 12.1 JIAXING JLIGHT CHEMICALS CO., LTD.
- 12.2 WUHAN BIOCAR BIO-PHARM CO., LTD.
- 12.3 XINJI CITY TAIDA SINOPEC CO., LTD.
- 12.4 CROSSCHEM LP
- 12.5 SANCAIINDUSTRY
- 12.6 MEHUL DYE CHEM INDUSTRIES
- 12.7 SIDDHARTH CHLOROCHEM
- 12.8 HANGZHOU LINGRUI CHEMICAL CO., LTD.
- 12.9 CANGZHOU GOLDLION CHEMICALS CO.,LTD
- 12.10 VELOCITY CHEMICALS LTD.
Details on Business overview, Products offered, Recent Developments, SWOT Analysis, MNM view might not be captured in case of unlisted companies.
- 13.1 DISCUSSION GUIDE
- 13.2 AVAILABLE CUSTOMIZATIONS
- 13.3 RELATED REPORTS
- 13.1 AUTHOR DETAILS