In 2024, the global Glycolic Acid Market size is estimated at USD 499.4 million. By 2034, the market is forecasted to grow to USD 782.9 million, reflecting a CAGR of 4.6%. This growth is not limited to the cosmetics industry; glycolic acid also finds applications in industrial settings such as textiles, polymers, and cleaning agents. The increasing adoption of glycolic acid in chemical peels and anti-aging products is further accelerating its demand.
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.
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.
“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)
Drivers and Opportunities
The primary driver for the Glycolic Acid Market is the rising demand from the cosmetics and personal care industries, where it is widely used in anti-aging creams, exfoliants, and chemical peels. The increasing awareness of skincare and the growing number of consumers looking for products that promote healthy, radiant skin is propelling the market forward.
Opportunities are also emerging from the industrial sector, where glycolic acid is used in applications such as cleaning agents, textile dyeing, and polymers. With the growing emphasis on sustainability, there is a rising demand for bio-based glycolic acid, presenting manufacturers with a chance to expand their market share by offering eco-friendly alternatives.
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.
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Key Companies & Market Share Insights
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
Key Segments of Market Report
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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
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