New York, NY -- (SBWIRE) -- 12/28/2020 -- The global Glycolic Acid Market
is forecasted to grow at a rate of 7.7% in terms of value, from USD 469.71 million in 2019 to reach USD 853.41 million by 2027. Glycolic acid is a strongly soluble alpha-hydroxy acid (AHA). It is a colourless, odourless crystalline block, produced from various sugar crops. Glycolic acid can also be extracted from plant products such as sugar cane, pineapple, cantaloupe, beet sugar, and unripe grapes.

Market Drivers
In various applications, including dyeing and tanning agents in the garment industry, flavouring & glycerin in the food & beverage industry, glycolic acid is also used as a skincare agent in the cosmetic industry. It is used when adhesives and plastics are made. Because of its properties, such as cell recovery and exfoliation, the growing use of hydroxy-acetic acid in various applications is expected to increase demand growth for glycolic acid over the entire forecast period. Increased demand for glycolic acid-dependent skin and hair care products is expected to fuel the market. In addition, chemical properties, such as excellent water solubility and a mild degree of acidity, make it a strong alternative to creams and ointments for wrinkle treatment and wound reduction.

The report is updated with the latest economic scenario due to the global COVID-19 crisis. The pandemic has brought dynamic changes in the major segments of the market. The report covers the present and future impact of the COVID-19 crisis and the economic scenario post-COVID-19.

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The report evaluates the current situation and prospects in the forecast years and is analyzed based on the volume and revenue of the market, along with advanced analytical tools such as SWOT analysis and Porter's Five Forces Analysis. The study provides a thorough report on the top industry players with their scope and growth in the market.

The major companies explored in the report are Shandong Xinhua Pharmaceutical Co. Ltd., Zhonglan Industry Co. Ltd., Parchem Fine & Specialty Chemicals, China Petroleum & Chemical Corporation, Water Chemical Co. Ltd., Mehul Dye Chem Industries, Eastman Chemical Company, CABB GmbH, Avid Organics, and Saanvi Corporation, among others.

The regional analysis is a comprehensive study of the regulatory framework, current and emerging market trends, opportunities, limitations, threats, and challenges faced by the competitors in each region. The key geographical regions covered in the report are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

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Furthermore, the report supplies an in-depth understanding and insight into the leading manufacturers and players with a brief overview of their business. This section deals with the latest business moves, product launches, strategic collaborations, technological advancements, and profitable business ventures. The report also includes revenue estimations and CAGR of the Glycolic Acid market in the coming years.

Glycolic Acid Market Segmentation:
Purity Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
Glycolic Acid 99%
Glycolic Acid 70%
Glycolic Acid 30%
Others

Grade Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Million; 2017-2027)
Cosmetic
Technical
Others

Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
Personal Care
Household
Textile
Food Processing
Pharmaceutical
Others

Regional Outlook
Asia-Pacific accounted for the most exuberant consumer share of glycolic acid in terms of sales and volume in 2019, which is expected to remain the largest in the forecast timeframe due to growing cosmetics used in apparel industries in China and India. Due to the strong demand from the fashion sector, Europe is forecasted to exhibit a significant rise in the global economy. North America is expected to witness a marked hike in the market. The U.S. pharmaceutical companies are one of the most important users of hydroxy-acetic acid, where it is used to render suture material, which is bio-absorbable and doesn't cause any damage.

The report explores the opportunities, market scope, business sphere, challenges, drivers, constraints, and threats that would interfere with the business landscape. The report also aims to provide strategic recommendations for the new entrants as well as well-established companies to enable efficient decision-making process.

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Key Points of the Glycolic Acid report:
Comprehensive analysis of the market including risks and opportunities
Details of business strategies and plans undertaken by key market players
Analysis of current and future trends that will affect the growth of the market in the forecast timeline
In-depth analysis of drivers and constraints for better understanding of the market
Strategic recommendations to the new entrants as well as established players to formulate informed business decisions
Comprehensive overview of the competitive landscape
In-depth analysis of the key regions of the market along with analysis of market share, size, revenue, production and consumption patterns, supply and demand dynamics, among others
Analysis of segments exhibiting promising growth over the forecast period

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