Glycolic Acid Market Size to grow by USD 186.6 million between 2024-2028
According to a research report “ Glycolic Acid Market” by Grade Type (Cosmetic grade, Technical grade) Application (Personal care and cosmetics, Household cleaners, Industrial, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 186.6 million, at a CAGR of almost 8.77% during the forecast period. The glycolic acid market is poised for significant expansion due to the increasing demand for this alpha hydroxy acid in the personal care and cosmetics industry, particularly for anti-aging products. Regulatory approvals, such as those from the FDA and the scientific committee on cosmetic products, have facilitated the growth of non-prescription glycolic acid-based skin care products, including creams, masks, lotions, and others. Additionally, glycolic acid's use as a keratolytic agent for skin treatment further fuels market growth. End-users in the cosmetics sector are capitalizing on this trend by offering an array of glycolic acid-infused products.
Browse market data tables, figures, and in-depth TOC on “Glycolic Acid Market” by Grade Type (Cosmetic grade, Technical grade) Application (Personal care and cosmetics, Household cleaners, Industrial, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Grade Type, the Cosmetic grade segment is projected to dominate the market size in 2024
Glycolic acid, a potent alpha-hydroxy acid, holds significant importance in the personal care and cosmetics industry. Primarily utilized in chemical peels and various skincare products such as anti-aging creams, lotions, and masks, glycolic acid offers numerous benefits, including skin rejuvenation and moisturization. Its application extends to hair care and nail care products, featuring a lower concentration. Furthermore, it is an essential ingredient in addressing scarring, discoloration, and aging signs, including fine lines and wrinkles. In the anti-aging moisturizer segment, glycolic acid functions as an exfoliant, pH adjuster, and skin conditioning agent. The expanding utilization of glycolic acid in the personal care and cosmetics sector is fueling the market's growth trajectory.
By Application, Personal care and cosmetics segment is expected to hold the largest market size for the year 2024
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APAC is forecasted to hold the largest market size by region in 2024
The glycolic acid market represents a significant business opportunity due to its widespread use in various industries, including cosmetics and personal care, pharmaceuticals, and food processing. This alpha-hydroxy acid (AHA) offers numerous benefits, such as exfoliating, smoothing, and brightening properties, making it a valuable ingredient in numerous applications. Market growth is driven by increasing consumer awareness and demand for effective skincare solutions, as well as technological advancements in production methods. Businesses looking to capitalize on this trend can explore opportunities in manufacturing, distribution, and research and development of glycolic acid-based products.
The Glycolic Acid Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Glycolic Acid market is experiencing significant growth due to its widespread use in various industries, including the chemical and petrochemical sector. Traditional industries such as steel, aluminum, and copper production utilize glycolic acid in the manufacturing process, while the demand for this chemical is also increasing in the renewable energy sector. Fluorinated gases and fossil fuels are being replaced by glycolic acid in power generation, leading to a reduction in greenhouse gas emissions. In the HVAC industry, glycolic acid is used in the production of energy-efficient buildings. Alloy materials and metals, such as steel, aluminum, and copper, are used in the manufacturing of air-cooled products and plate-frame heat exchangers, which require glycolic acid for optimal performance. Tube inserts and shell tube heat exchangers also use glycolic acid for improved energy efficiency and cost-effective solutions. Rapid urbanization and emerging economies are driving the demand for glycolic acid in various industries. The chemical demand is expected to increase as more countries shift towards renewable power generation and energy-efficient buildings. The use of glycolic acid in manufacturing technologies is also contributing to a reduction in carbon footprint and promoting sustainable practices in industries that traditionally relied on petroleum and petrochemicals.
Market Research Overview
The Glycolic Acid market is experiencing significant growth in various industries, including Xylem's pulp and paper, food and beverage, HVAC refrigeration, oil and gas, chemical and petrochemical, and power generation sectors. In HVAC systems, glycolic acid is used as an antifreeze and coolant in air-cooled products and plate frame heat exchangers made of metals like copper, aluminum, and steel. The chemical and petrochemical industry uses glycolic acid in various manufacturing processes due to its efficiency, versatility, and durability. It is also used in the production of fluorinated gases and fossil fuels. The renewable energy sector is witnessing increased demand for glycolic acid in power plants, with companies like Spirax Sarco, Johnson Controls, API Heat Transfer, Mersen, and Danfoss investing in glycolic acid-based technologies for temperature control and fuel cell systems. Despite the benefits, the high upfront cost and capital-intensive nature of glycolic acid-based technologies may limit their entry and expansion in some markets. However, the shift towards energy-efficient building measures and renewable power generation is expected to drive demand for cost-effective solutions. Misconceptions surrounding the carbon footprint of glycolic acid production are being addressed through advancements in manufacturing technologies and the use of emerging economies and rapid urbanization as growth opportunities. The World Nuclear Association also highlights the role of nuclear power reactors in reducing greenhouse gas emissions, making glycolic acid an essential component in various industries' transition towards sustainable energy sources.
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