The Glycolic Acid Market is expected to reach $764.8 USD

DUBAI, UAE, Jan. 22, 2023 (GLOBE NEWSWIRE) — According to the latest Future Market Insights report, the global glycolic acid market size is set to increase from 456.4 million US dollars in 2022 to 764.8 million US dollars By 2032. Total sales of glycolic acid are expected to increase at 5.3% compound annual growth rate Between 2022 and 2032.

Growing demand from various end-use industries such as textiles, pharmaceuticals, personal care and chemicals drives growth in the glycolic acid market. Over the years, glycolic acid has become a popular substance in various industries due to its multifunctional features.

For example, in the food industry, glycolic acid is used as a flavoring agent and preservative, in the textile industry as a dyeing and tanning agent, and in the pharmaceutical sector as a skin care product. It is often used in solvents, emulsion polymers, and paint and ink additives to improve flow quality and impart gloss.

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Glycolic acid is also used in plastics and adhesives. It is an ingredient in surface treatment products that raise the coefficient of friction on tile floors. It is also the primary ingredient in a household cleaning solution called Pine-Sol. Thus, the increasing use area of ​​glycolic acid will continue to drive demand in the global market.

Increasing awareness of the advantages of glycolic acid over the alternatives, increased spending by several companies on research and development, and acceleration of manufacturing are expected to boost the global market.

Hence, the increasing use of glycolic acid in skin care products to treat various skin disorders and increased emphasis on technological advancement and modernization of production techniques will help expand the glycolic acid industry worldwide.

“Continuously increasing demand from various end-use industries, particularly textile and pharmaceutical industries, is expected to boost the glycolic acid market during the forecast period,” says one of the lead analysts at FMI.

Key Takeaways from the Glycolic Acid Market Study

  • It is estimated that the global glycolic acid market will experience a CAGR of 5.3% on a value basis over the forecast period.
  • By source, the natural glycolic acid segment is likely to generate maximum revenue throughout the forecast period.
  • Based on end use, the chemicals sector is estimated to create an additional opportunity of approximately US$143.4 million between 2022 and 2032.
  • Europe and North America are expected to cumulatively account for around 48.8% of the total market share.
  • The USA is a prominent importer of glycolic acid with an estimated import volume of 6,156 tons of glycolic acid.
  • The glycolic acid market in Japan is expected to accelerate at an average CAGR of 4.6% between 2022 and 2032.

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Which is the win?

The glycolic acid market is estimated to be a single market, with key players expected to account for a major share of the market. Some of the top manufacturers include Chemours, Zhonglan Industry Co., Ltd. and Hefei TNJ Chemical Industry Co., Ltd. and Siddharth Chlorochem Pvt. Ltd., Penta International Corporation, Connect Chemicals, Charkit Chemical Company LLC, Beijing LYS Chemicals Co., Ltd. Ltd., Haihang Industry Co., Ltd. Ltd., CrossChem LP, and Spectrum Chemical Manufacturing Corp.

The major players are focusing on increasing their production capacity to enhance their market footprint across the globe and gain momentum in the market. Moreover, some of the major players are focusing on investing in the production of glycolic acid due to the huge increase in demand from various end-use industries.

Segmentation of the glycolic acid industry

By product grade:

  • Technical grade
  • Pharma Grid
  • Industrial grade

By source:

By end use:

  • personalized care
  • Chemicals
  • oil and gas
  • Textile
  • pharmaceutical
  • Farming
  • electronics
  • others

More insights on the Glycolic Acid market report

In its latest report, Future Market Insights provides an unbiased analysis of the world glycolic acid Market, providing historical data from 2017 to 2021 and forecast statistics for the period from 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product grade, Source, end use and region.

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content list

1. Executive Summary | glycolic acid market

1.1 Global Market Outlook

1.2 Demand Side Trends

1.3 Supply-side trends

1.4 Technology Roadmap

1.5 Analysis and recommendations

2. Market overview

2.1. Market coverage/classification

2.2. Market definition/scope/constraints

3. Key market trends

3.1. The main trends affecting the market

3.2 Product Innovation / Development Trends

4. Key success factors

4.1 Product Adoption/Usage Analysis

4.2 Product USP/Features

4.3 Strategic Promotional Strategies

5. Global Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032

5.1 Historical Market Size Analysis (tons), from 2017 to 2021

5.2 Forecast of current and future market size (tons), 2022 to 2032

5.3 Annual growth trend analysis

Complete table of contents with report preview:

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