San Francisco, 27 December 2018: The Report Glycolic Acid Market Analysis By Application (Personal Care, Household, Industrial),
And Segment Forecasts To 2024
The global glycolic acid market is expected to reach USD 415.0 million by 2024, according
to a new report by Grand View Research, Inc. Growing use of the product in
various applications including personal care and household is expected to drive
demand. The product is extensively used in the manufacturing of cleaning agent
formulations as well as skin care creams, thus promoting its growth.
Personal care application is expected to be
valued at over USD 96.0 million in 2015 driven by increasing use of the product
in cosmeceutical preparations such as skin creams, lotions for treatment of
blackheads, acne face lines and the treatment of oiliness. In addition, the
demand for glycolic acid based skin peels for face cleansing is expected to
bolster the demand over the forecast period.
Growing use of the product in shampoo
formulations for treatment of dandruff and hair conditioning is expected to
augment demand over the projected period. However, availability of alternate
products such as salicylic acid coupled with stringent regulations by bodies
such as Food and Drug Administration (FDA) limiting the concentration of
glycolic acid in personal care products is expected to restrain growth.
Access Research Report of Glycolic Acid Market@ www.grandviewresearch.com/industry-analysis/glycolic-acid-industry
Further key findings from the report suggest:
· The industrial application segment is
expected to be valued at over USD 42.0 million by 2024 owing to its
increasing application scope in concrete removal, dairy and food equipment
cleaner, industrial chemical manufacturing, oil and petrol refining and metal
cleaning & finishing. Superior properties exhibited by the product
including corrosion resistance, negligible odor, low toxicity, and low
inflammability are expected to promote its use over the forecast period.
· In Europe, the market in Italy is expected
to exhibit highest growth rate of over 11.5% from 2016 to 2024 owing to
increasing demand for glycolic acid in the production of skin care creams and
lotions and face peels. In addition, increasing demand for glycolic acid by
cosmetics manufacturers in the country is expected to drive the demand for the
product over the forecast period.
· Asia Pacific is expected to witness highest
CAGR of over 12.0% over the period 2016 to 2024 driven by rising demand for
glycolic acid based household cleaners coupled with a growing demand for beauty
products. Abundant raw material availability coupled with the presence of a
large number of manufacturer base is likely to have a positive impact on market
growth.
· Key players in the industry include
Parchem, DuPont, CrossChem LP, Phibro Animal Health Corporation and Chemsolv
Inc.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/organic-chemicals-and-compounds
Grand View Research has segmented the
glycolic acid market on the basis of application and region:
Glycolic Acid Market Application Outlook
(Volume, Tons; Revenue, USD Million, 2013 - 2024)
·
Personal Care
·
Household
·
Industrial
·
Others
Glycolic Acid Market Regional Outlook
(Volume, Tons; Revenue, USD Million, 2013 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa
Access Press Release of
Glycolic Acid Market@ www.grandviewresearch.com/press-release/global-glycolic-acid-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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