Hydroxyacetic Acid (Glycolic Acid) Market was valued at USD 0.68 Billion in 2022 and is projected to reach USD 1.20 Billion by 2030, growing at a CAGR of 7.1% from 2024 to 2030.
The surge in consumer awareness regarding skin health and the increased popularity of anti-aging products has greatly influenced market dynamics from 2018 to 2022. Demand for glycolic acid-based products, including facial peels and creams, has skyrocketed due to its proven effectiveness in enhancing skin texture, reducing wrinkles, and promoting a youthful complexion. Moreover, the chemical industry's demand for glycolic acid in the production of bio-based polymers has also contributed to its growth during this period. The market for glycolic acid in chemical applications was valued at over USD 1.5 billion in 2022 and continues to expand as industries shift toward sustainable alternatives.
With the shift from 2023 to 2033, the demand for Hydroxyacetic Acid (Glycolic Acid) is expected to continue its upward trajectory. This growth is attributed to several factors, including the rising popularity of clean beauty trends, increased focus on anti-aging skincare, and the growing adoption of glycolic acid in medical treatments for acne and pigmentation. Furthermore, the increasing use of glycolic acid in the production of biodegradable plastics is poised to boost its demand in the chemical sector. Market analysts predict that the global demand for glycolic acid will experience a CAGR of approximately 7% between 2023 and 2033, with Asia-Pacific emerging as a key growth region.
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The Hydroxyacetic Acid (Glycolic Acid) market has seen significant growth between 2018 and 2022, driven by rising demand in industries such as cosmetics, healthcare, and chemical manufacturing. Glycolic acid, a member of the alpha-hydroxy acid (AHA) family, is widely known for its exfoliating properties, making it a key ingredient in skincare products. The market has experienced a compound annual growth rate (CAGR) of approximately 6% during this period, with North America and Europe being the largest consumers. The market’s value increased as glycolic acid found applications beyond skincare, extending to the textile industry, where it is used in fabric treatments and finishing.
Chemours
CrossChem
Phibro
CABB
Water Chemical
Danhua Technology
Sinopec Yangzi Petrochemical
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Hydroxyacetic Acid (Glycolic Acid) Market
Household & Institutional Cleaning
Personal Care
Others
Based on Types the Market is categorized into Below types that held the largest Hydroxyacetic Acid (Glycolic Acid) market share In 2023.
Glycolic Acid Solution
Glycolic Acid Solid
Hydroxyacetic Acid
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Hydroxyacetic Acid (Glycolic Acid) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Hydroxyacetic Acid (Glycolic Acid) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Hydroxyacetic Acid (Glycolic Acid) Market, By Type
6. Global Hydroxyacetic Acid (Glycolic Acid) Market, By Application
7. Global Hydroxyacetic Acid (Glycolic Acid) Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Hydroxyacetic Acid (Glycolic Acid) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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