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Global Glycolic Acid Market Size, Growth, Trends, Forecast: By Grade: Cosmetic, Technical; By Application: Personal Care, Household, Industrial, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Competitive Landscape; 2024-2032
Global Glycolic Acid Market Outlook
The global glycolic acid market size attained a value of approximately USD 350.87 million in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 7.1%, reaching a value of around USD 652.92 million by 2032.
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Industrial applications of glycolic acid are on the rise, particularly in the oil and refining industry where glycolic acid is commonly used as a cost-effective cleaning method. The thriving oil and gas industry, and utility of glycolic acid in cleaning and scraping processes are anticipated to contribute to the glycolic acid market growth in the coming years. Glycolic acid is non-volatile and biodegradable, and can be sourced from sugarcane, sugar beets, pineapple, immature grains, and cantaloupe, and can also be synthesised from fossil resources. Increasing production capacities for glycolic acid and streamlined supply chains are enhancing the availability and usage of glycolic acid across industries.
Rising Utilisation in Personal Care Application to Bolster the Growth of the Market for Glycolic Acid
Based on application, the personal care segment accounted for a significant share in the market for glycolic acid, owing to the rising demand for glycolic acid-based products for scalp and hair treatment. Over the forecast period, the increasing awareness about the benefits of glycolic acid on skin health and the increasing demand for skin care products among consumers are likely to bolster the consumption of glycolic acid in the skincare industry, thus, aiding the growth of this segment.
In addition, rising standards of living in developing economies of the world are encouraging more people to spend on personal care products, thereby, invigorating the market for glycolic acid. The household application segment is likely to witness a considerable growth in the forecast period. This can be attributed to the increasing use of glycolic acid in products like bathroom and kitchen cleaners, which are anticipated to witness an increased demand to maintain bathroom and kitchen hygiene.
Global Glycolic Acid Market Share by Region
Europe accounts for a significant share of the market for glycolic acid, fuelled by the increasing demand for premium cosmetics and anti-aging products. The high consumer purchasing power and increased awareness about the various skin benefits of glycolic acid are likely to bolster the market growth in the forecast period. Furthermore, the presence of the leading cosmetic manufacturers in countries like Italy and France is anticipated to be another key driver for the European glycolic acid market.
Glycolic Acid: Market Segmentation
Glycolic acid is a water-soluble alpha hydroxy acid that is derived from sugarcane. It is an odourless, colourless, and hygroscopic crystalline solid that helps to separate the connections between skin cells in the outer layers of skin and promotes exfoliation.
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On the basis of grade, the market is bifurcated into:
- Cosmetic
- Technical
The glycolic acid market segments, based on application are:
- Personal Care
- Household
- Industrial
- Others
The regional markets for glycolic acid include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Demand for Cosmetic Grade Glycolic Acid to Boost the Growth of the Market
Increasing demand for cosmetic grade glycolic acid is one of the major factors driving the growth of the market. The high degree of acidity of glycolic acid and excellent water-solubility makes it ideal for cosmetics and personal care products such as creams for wrinkle treatment, skin care, scar removal, and hair nourishment, among others. The growing ageing population is escalating the sale of anti-wrinkle products, thereby, augmenting the market for glycolic acid. The increasing disposable income and rising standards of living have resulted in heightened consumer spending on cosmetics and personal care products, which is significantly contributing to the growth of the overall market.
Over the forecast period, the rising participation of women in the workforce and increasing purchasing power are likely to motivate them to use premium products, surging the demand for glycolic acid. In addition, increasing industrial applications of the glycolic acid, such as semiconductor processing, leather dying, and others, are expected to further enhance the market growth in the forecast period.
Key Players in the Global Glycolic Acid Market
The report gives a detailed analysis of the following key players in the global glycolic acid market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- 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
- CrossChem Limited
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Grade |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Glycolic Acid Market Analysis
8.1 Key Industry Highlights
8.2 Global Glycolic Acid Historical Market (2018-2023)
8.3 Global Glycolic Acid Market Forecast (2024-2032)
8.4 Global Glycolic Acid Market by Grade
8.4.1 Cosmetic
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Technical
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Glycolic Acid Market by Application
8.5.1 Personal Care
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Household
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Industrial
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Glycolic Acid Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Glycolic Acid Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Glycolic Acid Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Glycolic Acid Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Glycolic Acid Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Glycolic Acid Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
16.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
16.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
16.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
16.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
16.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Jiaxing Jilat Chemical Co., Ltd.
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Avid Organics Pvt. Ltd.
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 China Petrochemical Corporation
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Water Chemical Co., Ltd
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Zhonglan Industry Co.,Ltd.
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 The Chemours Company
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 CABB Group GmbH
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Shandong Xinhua Pharmaceutical I&E Co.,Ltd
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Phibro Animal Health Corporation
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Hefei TNJ Chemical Industry Co.,Ltd.
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Spectrum Chemical Mfg. Corp.
17.2.11.1 Company Overview
17.2.11.2 Product Portfolio
17.2.11.3 Demographic Reach and Achievements
17.2.11.4 Certifications
17.2.12 Merck KGaA
17.2.12.1 Company Overview
17.2.12.2 Product Portfolio
17.2.12.3 Demographic Reach and Achievements
17.2.12.4 Certifications
17.2.13 CrossChem Limited
17.2.13.1 Company Overview
17.2.13.2 Product Portfolio
17.2.13.3 Demographic Reach and Achievements
17.2.13.4 Certifications
17.2.14 Others
18 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Glycolic Acid Market: Key Industry Highlights, 2018 and 2032
2. Global Glycolic Acid Historical Market: Breakup by Grade (USD Million), 2018-2023
3. Global Glycolic Acid Market Forecast: Breakup by Grade (USD Million), 2024-2032
4. Global Glycolic Acid Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Glycolic Acid Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Glycolic Acid Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Glycolic Acid Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Glycolic Acid Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Glycolic Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Glycolic Acid Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Glycolic Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Glycolic Acid Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Glycolic Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Glycolic Acid Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Glycolic Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Glycolic Acid Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Glycolic Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
18. North America Historical Price Trends and Forecast 2018-2028
19. Europe Historical Price Trends and Forecast 2018-2028
20. Asia Pacific Historical Price Trends and Forecast 2018-2028
21. Latin America Historical Price Trends and Forecast 2018-2028
22. Middle East and Africa Historical Price Trends and Forecast 2018-2028
23. Global Glycolic Acid Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 350.87 million in 2023.
The market is estimated to grow at a CAGR of 7.1% between the forecast period of 2024 and 2032.
The market is estimated to witness a healthy growth between the forecast period of 2024-2032 to reach a value of USD 652.92 million by 2032.
The rising demand for glycolic acid-based products for scalp and hair treatment, the increasing awareness regarding the benefits of glycolic acid on skin and the surging usage of use of glycolic acid in products like bathroom and kitchen cleaners are the major market drivers.
The key trends aiding the market growth include the increasing demand for cosmetic grade glycolic acid, rising disposable incomes, and the rising industrial applications of glycolic acid in semiconductor processing and leather dying, among others.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major glycolic acid grades considered in the market report are cosmetic and technical.
The significant applications of glycolic acid include personal care, household, and industrial, among others.
The major players in the market are Jiaxing Jilat Chemical Co., Ltd., Avid Organics Pvt. Ltd., China Petrochemical Corporation, Water Chemical Co., Ltd, and Zhonglan Industry Co.,Ltd., among others.
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