The Asia Pacific Glycolic Acid Market would witness market growth of 7.2% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 27,467.1 tonnes, showcasing a growth of 6.3% (2019-2022).
The adoption of glycolic acid in the textile industry is driven by its ability to improve dyeing and finishing processes. Textile manufacturers recognize the compound’s chelating properties, which facilitate the removal of impurities from fabrics, resulting in better dye absorption and color retention. The enhanced quality and appearance of textiles treated with glycolic acid contribute to its continued adoption in the textile industry. Industries involved in metal cleaning and oil drilling have adopted glycolic acid for its efficient cleaning properties. The compound’s effectiveness in dissolving mineral deposits and scale on metal surfaces has positioned it as a crucial component in industrial cleaning solutions. As industries prioritize environmentally friendly practices, glycolic acid’s biodegradability and efficacy contribute to its increased adoption in industrial cleaning processes.
It is incorporated into some hair removal products due to its exfoliating properties. It helps reduce ingrown hairs and improves the overall smoothness of the skin after hair removal. It is commonly found in topical acne treatments, such as cleansers, creams, and spot treatments. Its exfoliating action helps unclog pores, prevent the formation of comedones, and reduce the severity of acne lesions. It is used in certain photochemical processes in photography. Some photographic developers harness its ability to act as a reducing agent to process photographic films and prints. In the food industry, it may be used for pH adjustment in certain products. Its ability to act as an acidulant controls and stabilizes the acidity levels in food and beverage formulations.
As per Invest India, the pharmaceutical industry in India is anticipated to increase to $65 billion by 2024 and $130 billion by 2030. One of the largest suppliers of inexpensive vaccines is India. India is a significant exporter of pharmaceuticals, with exports to over 200+ countries. Similarly, as per China.org, in 2021, the combined business revenue of China’s pharmaceutical companies increased by 18.7 percent annually, the greatest growth rate in five years. Therefore, due to the above-mentioned factors, the market will grow significantly in this region.
The China market dominated the Asia Pacific Glycolic Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $54,784.7 Thousands by 2030. The Japan market is exhibiting a CAGR of 6.5% during (2023 - 2030). Additionally, The India market would experience a CAGR of 7.9% during (2023 - 2030).
Free Valuable Insights: The Global Glycolic Acid Market is Predict to reach $531 Million by 2030, at a CAGR of 6.8%
Based on Grade, the market is segmented into Technical Grade and Cosmetic Grade. Based on Application, the market is segmented into Personal Care & Dermatology, Industrial, Household and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Grade (Volume, Tonnes, USD Million, 2019-2030)
By Application (Volume, Tonnes, USD Million, 2019-2030)
By Country (Volume, Tonnes, USD Million, 2019-2030)
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