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.
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Further key findings from the study suggest:
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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
o U.S.
o Canada
o Mexico
· Europe
o Germany
o Italy
o France
· Asia Pacific
o China
o India
o Japan
· Latin America
o Brazil
· Middle East & Africa
o South Africa
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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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