According to a new report, published by KBV research, 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).
Glycolic acid is a potent exfoliating agent that promotes removing dead skin cells. This results in improved skin texture, lower pore congestion, and a brighter complexion. It is widely used in skincare products to address concerns such as dullness, uneven tone, and signs of aging. Dermatologists use glycolic acid in chemical peels to address various skin conditions, including acne, hyperpigmentation, and scarring. Its ability to promote cell turnover and rejuvenate the skin makes it valuable in professional skincare treatments.
The Technical Grade segment is leading the Global Glycolic Acid Market by Grade in 2022; thereby, achieving a market value of $297.7 million by 2030. Technical grade glycolic acid is used in certain processes within the oil and gas industry. Its effectiveness in dissolving mineral deposits and scale makes it valuable for cleaning and maintenance activities related to equipment used in oil drilling. Glycolic acid is employed in water treatment processes, particularly in its technical grade. Its chelating properties help remove scale and mineral deposits from pipes and equipment, contributing to the efficiency of water treatment systems.
The Industrial segment is experiencing a CAGR of 7.6% during (2023 - 2030). Glycolic acid is used in industrial cleaning, particularly metal cleaning, and descaling. Its ability to dissolve mineral deposits and scale on metal surfaces makes it an efficient and effective cleaning agent in manufacturing. Glycolic acid is employed in metal surface treatment processes in industries such as manufacturing and construction. Its interaction with metal surfaces makes it valuable for metal cleaning, conditioning, and preparation for subsequent treatments or coatings.
Full Report: https://www.kbvresearch.com/glycolic-acid-market/
The Asia Pacific region dominated the Global Glycolic Acid Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $204.9 million by 2030. The North America region is anticipating a CAGR of 6.1% during (2023 - 2030). Additionally, The Europe region would exhibit a CAGR of 6.4% during (2023 - 2030).
By Grade (Volume, Tonnes, USD Million, 2019-2030)
By Application (Volume, Tonnes, USD Million, 2019-2030)
By Geography (Volume, Tonnes, USD Million, 2019-2030)
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