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Glycolic Acid Market Is Grow at a CAGR of 9.80% and By Size, Share, Demand, Trends and Forecast by 2029

Glycolic Acid Market

Glycolic Acid Market

Data Bridge Market Research analyses that the glycolic acid market will witness a CAGR of 9.80% for the forecast period of 2022-2029.

PORT MATHURIN, RODRIGUES, MAURITIUS, May 26, 2022 / -- The glycolic acid market research report is framed with the best and most advanced tools for collecting, recording, estimating, and analyzing market data. Details about the market drivers and market restraints covered in this report help understand whether the demand for the products will rise or get lower. It contains most-detailed market segmentation, a thorough analysis of major market players, trends in consumer and supply chain dynamics, and insights into new geographical markets. All this information is supplied in such a form that properly gives an explanation of various facts and figures to the business.

The global glycolic acid market will witness a CAGR of 9.80% for the forecast period of 2022-2029. Growth in the demand for glycolic acid especially in the emerging economies such as India and China, growing use of glycolic acid for a wide range of end-user applications, a rising number of small and medium scale enterprises in the Asia-Pacific region, and a surge in industrialization especially in the developing countries are the major factors attributable to the growth of the glycolic acid market.

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Market Analysis and Insights on Glycolic Acid Market

Glycolic acid (C2H4O3) is a colorless, odorless, soluble in water, non-volatile, and less flammable chemical that is derived from plants. Glycolic acid (C2H4O3) is derived and extracted from grapes, sugar beets, and pineapple. Therefore, glycolic acid offers numerous beneficial applications which result in its utilization by numerous end-user industries.

The rise in demand for glycolic acid by the pharmaceutical industry in the manufacturing of skin care products is the root cause for fuelling the market growth rate. Rising demand for glycolic acid in the manufacturing of industrial and household products, increasing focus on physical appearances, and growth and expansion of various end-user verticals in the emerging economies will also directly and positively impact the growth rate of the market. Rising awareness about the benefits of glycolic acid in comparison to alternatives, rising expenditure for research and development proficiencies by the major companies, upsurge in the rate of industrialization, surging demand for glycolic acid in the manufacturing of adhesives, the rising proliferation of social media, rising environmental concerns leading to the production of economic and biodegradable cleaning products and growing focus on the technological advancements and modernization in the production techniques will further carve the way for the growth of the market.

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Global Glycolic Acid Market Scope and Market Size

The glycolic acid market is segmented on the basis of source, purity level, grade and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.

On the basis of source, the glycolic acid market is segmented into synthetic and natural.
On the basis of purity level, the glycolic acid market is segmented into 99% purity, 70% purity, 60% purity, 30% purity, and others.
On the basis of grade, the glycolic acid market is segmented into technical grade, pharmaceutical grade, and industrial grade.
On the basis of application, the glycolic acid market is segmented into personal care and dermatology, industrial, household, tanning and dyeing, agriculture, adhesive, medical, and food.

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Competitive Landscape and Glycolic Acid Market Share Analysis

The glycolic acid market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the glycolic acid market.

Some of the major players operating in the glycolic acid market report are Merck KGaA, The Chemours Company, CABB GmbH, China Petrochemical Corporation, Water Chemical Co., Ltd, Zhonglan Industry Co., Ltd., Shandong Xinhua Pharma, Phibro Animal Health Corporation, HeBei ChengXin, Hefei TNJ Chemical Industry Co., Ltd., Avid Organics, Jiaxing Jlight Chemicals Co., Ltd., Taida Sinopec CO., Ltd, CrossChem LP, Sancaiindustry, Mehul Dye Chem Industries, Siddharth Chlorochem, Velocity Chemicals Ltd., TCI Chemicals (India) Pvt. Ltd., and Parchem fine & specialty chemicals among others.

Glycolic Acid Market Country Level Analysis

The glycolic acid market is analyzed and market size and volume information is provided by country, source, purity level, grade, and application as referenced above.

Asia-Pacific region dominates the glycolic acid market owing to the rising demand for glycolic acid by the personal care and cosmetic industry in the region, growing demand from various end-use industries, increase in the research and development activities, surging improvement in the standard of living, investment policies by the government in order to promote industrial growth, high economic growth in the emerging countries, rapid growth in the demand as a dyeing and tanning agent in the leather industry, abundant availability of raw materials and rising investments by various public and private manufacturers in the Asia Pacific.

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