Global Glycolic Acid Market to Grow at a CAGR of 7.1% During 2024-2032, Aided by Increased Use of the Product in Personal Care Applications

The skincare market is experiencing significant growth, attributable to consumers' heightened focus on anti-ageing regimens and treatments. As individuals endeavour to preserve youthfulness and healthy skin, the need for glycolic acid-based products continues on an upward trajectory.

The growing focus on self-care and personal grooming, combined with increasing disposable incomes, continues to drive expansion in this market. Customers are willing to invest in products that deliver effective solutions for their skincare needs, subsequently spurring the glycolic acid market expansion.

Furthermore, the demand for glycolic acid has increased in recent years due to the growth of the cleaning industry as well as expanded textile production worldwide. Consumers have increasingly prioritised the use of safe products, as evidenced by rising consciousness around non-toxic personal care and pharmaceutical options. Similarly, elevated research and development investments targeting the creation of environmentally sound alternatives have stimulated global demand. Altogether, these trends underscore robust market opportunities for glycolic acid.

In August 2023, The Chemours Company ("Chemours") (NYSE: CC), a global chemistry company with leading market positions in titanium technologies, thermal and specialised solutions, and advanced performance materials, completed the sale of its glycolic acid business to PureTech Scientific, LLC. PureTech Scientific is a company founded and backed by Iron Path Capital, a private equity firm focused on lower-middle market investments across speciality healthcare sectors.

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Market Breakup by Grade, Application, and Region:

• On the basis of the grade, the market is bifurcated into cosmetic and technical.

• The market is segmented based on application into personal care, household, and industrial, among others.

• By region, the market can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The healthcare industry witnessed a growing emphasis on advanced dermatological treatments and cosmetic procedures, significantly propelling the market. Consumers demonstrate a stronger preference for customised medical solutions and minimally intrusive techniques, resulting in heightened adoption of glycolic acid-based offerings. Common skin issues like acne and hyperpigmentation remain widespread problems, compelling elevated product demand within the pharmaceutical sphere.

• Dermatologists and healthcare professionals are increasingly incorporating glycolic acid into their treatment regimens, recognising its efficacy in addressing various skin issues. Its versatility in cosmetic procedures, such as chemical peels, has contributed to its popularity among individuals seeking professional skincare treatments. The growing ageing population that is more susceptible to dermatological issues is also acting as a significant driver for the glycolic acid market growth.

• The chemical industry extensively researches and develops new technologies that are driving the market. Manufacturers are investing in innovative and sustainable production processes to meet increasing demand in an environmentally responsible way. Key players in the market is pursuing eco-friendly methods and bio-based solutions that lessen the industry's carbon impact.

Key Offerings of the Report:

• The EMR report gives an overview of the global glycolic acid market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the grade, application, and region.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global glycolic acid market are Jiaxing Jilat Chemical Co., Ltd., Avid Organics Pvt. Ltd., China Petrochemical Corporation, Water Chemical Co., Ltd, Zhonglan Industry Co.,Ltd., The Chemours Company, CABB Group GmbH , Shandong Xinhua Pharmaceutical I&E Co.,Ltd, Phibro Animal Health Corporation, Hefei TNJ Chemical Industry Co.,Ltd., Spectrum Chemical Mfg. Corp., Merck KGaA, and CrossChem Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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