Global Glycolic Acid Market to Reach USD 782.9 Million by 2034, Growing at a CAGR of 4.6% | Future Market Insights, Inc.

Glycolic acid's popularity surged in the U.S., driven by consumer demand for effective skincare products that offer visible results and suit various skin types

NEWARK, DE, UNITED STATES, December 23, 2024 /EINPresswire.com/ -- The global glycolic acid market is projected to attain a valuation of USD 499.4 million in 2024, driven by its extensive applications in cosmetics, personal care, and industrial sectors. The market is anticipated to expand at a steady CAGR of 4.6% during the forecast period, reaching an estimated value of USD 782.9 million by 2034. This growth is fueled by rising demand for glycolic acid in skincare products due to its exfoliating and anti-aging properties, as well as its growing use in industrial applications like cleaning agents and biodegradable polymers. Increasing consumer awareness and advancements in manufacturing technologies further support market expansion.

The trend towards more natural and eco-friendly cosmetic products has also positively impacted the Glycolic Acid Market. Companies are investing in research to produce bio-based glycolic acid, offering a more sustainable alternative to the synthetic variants, aligning with the growing demand for greener skincare solutions.

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Additionally, the growing awareness regarding glycolic acid’s versatility in industrial applications is expected to support market growth. The compound’s ability to act as a cleaning agent in electronics and automotive industries adds to its broad range of applications, ensuring a steady demand across sectors.

Key Growth Drivers:

Rising Demand in Personal Care Products: Glycolic acid is widely used in skincare products for its exfoliating and skin-renewing properties. The growing consumer inclination towards advanced skincare solutions has significantly boosted its demand, especially in anti-aging and acne treatments.

Expanding Use in Industrial Applications: The compound’s effective performance in metal cleaning, dyeing, and textile processing industries is further propelling market growth. It acts as a powerful cleaning agent and pH adjuster, ensuring its utility in diverse industrial settings.

Sustainability Focus: With increasing environmental consciousness, glycolic acid’s biodegradable nature makes it a preferred choice in agricultural and industrial applications, aligning with the global shift toward sustainable practices.

Latest Trends:

Innovative Skincare Formulations: Leading brands in the personal care industry are leveraging glycolic acid to develop cutting-edge products that cater to specific skin concerns, enhancing market penetration.

Rise of Green Chemistry: The emphasis on eco-friendly manufacturing processes is fostering the development of bio-based glycolic acid, reducing dependency on petroleum-derived alternatives.

Technological Advancements: Research and development efforts are paving the way for high-purity glycolic acid production, broadening its applicability in pharmaceuticals and medical-grade solutions.

Key Takeaways from Market Study

The Glycolic Acid Market is expected to grow at a CAGR of 4.6% from 2024 to 2034.
The market size is forecasted to increase from USD 499.4 million in 2024 to USD 782.9 million by 2034.
The cosmetics and personal care industries are the largest consumers of glycolic acid, driving significant market growth.
Industrial applications such as cleaning agents and polymers are also contributing to the increasing demand for glycolic acid.
The shift towards bio-based and sustainable glycolic acid is a key trend shaping the market’s future.

“The growth of the Glycolic Acid Market is largely driven by its increasing application in the cosmetics and skincare sectors. As consumer awareness about skincare ingredients rises, glycolic acid’s role in delivering visible skin benefits has made it a sought-after component in many beauty formulations. Moreover, its growing use in industrial applications is opening new opportunities for market players,” says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI)

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Leading companies in the Glycolic Acid Market include:

Chemours Company
DuPont
Sigma-Aldrich Corporation (Merck)
China Petrochemical Corporation (Sinopec)
CABB Group
CrossChem
Phibro Animal Health Corporation
Hebei Chengxin Co., Ltd
Shandong Xinhua Pharma Co., Ltd
Zhonglan Industry Co., Ltd
Alfa Aesar (Thermo Fisher Scientific)
Parchem fine & specialty chemicals
Haihang Industry Co., Ltd
Avid Organics
Mehul Dye Chem Industries
Griffin International
Chauhan Pharmachem Pvt. Ltd
Shanxi Jinjin Chemical Co., Ltd
Triveni Chemicals

By Grade:

Grade is segmented into Technical Grade, Pharma Grade and Industrial Grade.

By Source:

Natural and synthetic are the two sources.

By End-use:

End-use is segregated into personal care, chemicals, oil and gas, textile, pharmaceuticals, agriculture, electronics and others.

By Region:

The industry is spread across North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and the Middle East and Africa.

Authored By

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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