The global glycolic acid market size is expected to reach USD 565.3 million by 2030, registering a CAGR of 9.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. Growing use of the product in various applications including personal care and household is expected to drive demand. The product is extensively used in the manufacturing of cleaning agent formulations as well as skin care creams, thus promoting its growth.
Personal care application is expected to be valued at over USD 96.0 million in 2015 driven by increasing use of the product in cosmeceutical preparations such as skin creams, lotions for treatment of blackheads, acne face lines and the treatment of oiliness. In addition, the demand for glycolic acid based skin peels for face cleansing is expected to bolster the demand over the forecast period.
Growing use of the product in shampoo formulations for treatment of dandruff and hair conditioning is expected to augment demand over the projected period. However, availability of alternate products such as salicylic acid coupled with stringent regulations by bodies such as Food and Drug Administration (FDA) limiting the concentration of glycolic acid in personal care products is expected to restrain growth.
Request a free sample copy or view report summary: Glycolic Acid Market Report
The personal care segment held the largest revenue share of 61.1% in 2022 owing to increasing demand for glycolic acid-based products for scalp treatment and hair nourishment
Asia Pacific dominated the market and accounted for the largest revenue share of 35.3% in 2022. This can be attributed to the widespread application of glycolic acid in various industries such as personal care, pharmaceuticals, and textiles in the region.
Europe is predicted to expand at a CAGR of 8.9% during the forecast period due to a rapidly developing skin and hair care industry.
Grand View Research has segmented the glycolic acid market based on application, and region:
Glycolic Acid Application Outlook (Revenue, USD Million; Volume, Tons, 2018 - 2030)
Personal Care
Household
Industrial
Others
Glycolic Acid Regional Outlook (Revenue, USD Million; Volume, Tons, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Asia Pacific
Japan
China
India
Southeast Asia
South Korea
Central & South America
Brazil
Argentina
Middle East & Africa (MEA)
South Africa
Saudi Arabia
List Of Key Players Glycolic Acid Market
Merck KGaA
DuPont
CrossChem Limited
Parchem fine & specialty chemicals
Phibro Animal Health Corporation
Chemsolv, Inc.
Griffin International
Mehul Dye Chem Industries
The Chemours Company
Vytrus Biotech
"The quality of research they have done for us has been excellent..."