Global Glycolic Acid Market Analysis 2022
The Global Glycolic Acid Market is expected to reach $482.40 million by 2028 growing at a CAGR of 7.2% from 2021 to 2028. Glycolic acid is a plant-driven substance that is clinically proven to be an effective skin treatment solution. It belongs to a group of active compounds known as AHAs (alpha hydroxyl acids), which are primarily found in vegetables and fruits such as sugarcane, pineapple, unripe grapes, etc. Glycolic acid possesses the smallest molecules in the group; this enables quick and easy penetration of human skin. This substance has anti-aging properties and is safe to use on sensitive skin.
Factors such as growing glycolic acid consumption in varied applications and increasing demand for biodegradable polymers are driving the growth of the market. However, stringent regulations regarding usage of glycolic acid and skin problems associated with glycolic acid-based cosmetic products are restraining the growth of the market.
Based on grade, the cosmetic grade segment is going to have a lucrative growth during the forecast period which can be attributed to the increase in global average disposable income accompanied by a surge in the standard of livings. Owing to its high transparency, which is similar to that of glass, amorphous PET is utilized in the manufacture of bottles and packaging. The use of cosmetic grade glycolic acid in different skincare creams and lotions as an active ingredient helps in reducing the effects of irregular pigmentation, age spots, enlarged pores, and fine lines.
The key vendors mentioned are CABB Group GmbH, Cangzhou Goldlion Chemicals Co Ltd, China Petrochemical Corporation, Hangzhou Lingrui Chemical Co Ltd, Hebei Chengxin Co Ltd, Hefei TNJ Chemical Industry Co Ltd, Mehul Dye Chem Industries, Phibro Animal Health Corp, Sancaiindustry, The Chemours Company, Velocity Chemicals Ltd, Water Chemical Co., Ltd, Wuhan Biocar Bio-Pharm Co Ltd, Xinhua Pharm, and Zhonglan Industry Co., Ltd.
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