“Global Glycolic Acid Market to reach a market value of USD 531 Million by 2030 growing at a CAGR of 6.8%”
The Global Glycolic Acid Market size is expected to reach $531 million by 2030, rising at a market growth of 6.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 84,391.4 tonnes, experiencing a growth of 6.0% (2019-2022).
The North American skincare and cosmetics industry has witnessed a surge in demand for glycolic acid products. Therefore, the North America region acquired $94,682.1 revenue in 2022. The cosmetics industry in Canada may offer a range of glycolic acid-based peeling products, providing consumers with options for achieving smoother and more rejuvenated skin.
Sustainable glycolic acid production methods typically reduce environmental footprint, including lower greenhouse gas emissions and energy consumption. Thus, because of the global demand for sustainable solutions, the market is anticipated to increase significantly.
Additionally, Wastewater treatment often requires precise pH control for optimal performance. Glycolic acid is an effective pH adjuster, stabilizing and maintaining the desired pH levels in wastewater treatment processes. Hence, increasing wastewater treatment has been a pivotal factor in driving the growth of the market.
However, Glycolic acid is produced using particular raw materials. Shortages and adverse effects on the overall production capacity of glycolic acid may result from disruptions in the supply of these basic materials, which natural disasters, geopolitical events, or other determinants may cause. Thus, lack of supply chain disruptions can slow down the growth of the market.
Based on application, the market is classified into personal care & dermatology, industrial, household, and others. In 2022, the personal care & dermatology segment witnessed 53% revenue share in the market. Consumers can choose from various products, including cleansers, toners, serums, and masks, each containing glycolic acid at varying concentrations based on their skin needs.
By grade, the market is categorized into cosmetic grade, and technical grade. The cosmetic grade segment covered 43% revenue share in the market in 2022. Cosmetic grade glycolic acid is widely used in exfoliating products such as cleansers, toners, and peels. These formulations are designed to hydrate the skin while delivering glycolic acid’s exfoliating and renewing effects.
Free Valuable Insights: Global Glycolic Acid Market size to reach USD 531 Million by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region led the market by generating 37.4% revenue share. The expansion of e-commerce platforms in the Asia Pacific region has facilitated the accessibility of skincare products, including those containing glycolic acid.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 315.5 Million |
| Market size forecast in 2030 | USD 531 Million |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 6.8% from 2023 to 2030 |
| Number of Pages | 243 |
| Number of Table | 510 |
| Quantitative Data | Volume in Tonnes, Revenue in USD Million, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Grade, Application, Region |
| Country scope |
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| Companies Included | The Chemours Company, China Petrochemical Corporation (Sinopec Group), Merck KGaA, Shandong Xinhua Pharmaceuticals Co., Ltd., Hefei TNJ Chemical Industry Co., Ltd., Siddharth Chlorochem Pvt. Ltd., Avid Organics Pvt. Ltd., Hebei Chengxin Co., Ltd., Sancai Industry Co., Ltd, Phibro Animal Health Corporation |
By Grade (Volume, Tonnes, USD Million, 2019-2030)
By Application (Volume, Tonnes, USD Million, 2019-2030)
By Geography (Volume, Tonnes, USD Million, 2019-2030)
This Market size is expected to reach $531 million by 2030.
Global demand for sustainable solutions are driving the Market in coming years, however, Lack of supply chain disruptions restraints the growth of the Market.
The Chemours Company, China Petrochemical Corporation (Sinopec Group), Merck KGaA, Shandong Xinhua Pharmaceuticals Co., Ltd., Hefei TNJ Chemical Industry Co., Ltd., Siddharth Chlorochem Pvt. Ltd., Avid Organics Pvt. Ltd., Hebei Chengxin Co., Ltd., Sancai Industry Co., Ltd, Phibro Animal Health Corporation
In the year 2022, the market attained a volume of 84,391.4 tonnes, experiencing a growth of 6.0% (2019-2022).
The Technical Grade segment is leading the Market by Grade in 2022; there by, achieving a market value of $297.7 million by 2030.
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $204.9 million by 2030.
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