The global Glycolic Acid Market is anticipated to achieve market valuation of USD 362.52 million by 2023 with CAGR of 12.1% between 2016 and 2023.
Glycolic Acid or hrdroxyacetic acid is a category of chemical compound that consists of carboxylic acid substituted with hydroxyl group on the adjacent carbon. It’s a colorless liquid which is odorless, and is soluble in alcohol at room temperature. Its chemical formula is HOCH2COOH and may be processed naturally & synthetically. It possess varied properties resembling keratolytic, germinative layer and a fibroblast stimulating action. It exhibits anti-inflammatory results and anti-oxidant actions resulting in wide software scope in personal care, textile dyeing & ending, oil area, petroleum refining, and others.
The worldwide Glycolic Acid Market is predicted to develop steadily and register a CAGR of 6.09% over the forecast period. Some of the prominent developments and drivers supporting the expansion of global Glycolic Acid Market are recognized as rising consciousness regarding skincare and hair care along with progress in private care products. Moreover, rising affinity towards pores and skin lightening and rising demand of anti-aging products amongst geriatric inhabitants is anticipated to augment skincare elements market. Increasing spending on household cleansing is predicted to further propel the Glycolic Acid Market progress. Stringent regulation by limiting the concentration of glycolic acid in personal care merchandise coupled with availability and development of substitutes resembling salicylic acid are anticipated to hinder market progress.
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Based on the areas, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Center East & Africa. North America accounted for the most important market share in terms of worth and quantity in 2016, and is projected to develop at the very best CAGR of 6.23% when it comes to value in the course of the forecast period of 2017 to 2023. In North America, U.S contribute the largest market share of 53.Three% when it comes to quantity and is projected to grow at the best CAGR of 5.Forty nine% adopted by Canada during the evaluate interval. Europe held the second largest market share in 2016. Inside Europe, Germany dominated the market share and is projected to develop at the highest CAGR adopted by UK, France, and Spain. Emerging economies of Asia Pacific reminiscent of India, China, Japan, and Australia are projected to develop at a significant rate owing to the expansion of applications corresponding to personal care and textile dyeing & ending.
The global Glycolic Acid Market is segmented on the idea of source, utility and area. On the premise of supply, Global Glycolic Acid Market is segmented into natural and artificial. Primarily based on application, the worldwide glycolic acid market is segmented into personal care, textile dyeing & ending, oil discipline, petroleum refining, and others. On the basis of area, market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
World Glycolic Acid Market is projected to achieve USD 263.3 Million by 2023 with CAGR of 6.09% when it comes to value throughout evaluation period of 2017-2023. Enhance in demand of personal care merchandise with rising consciousness relating to skin and hair care augmented the market demand throughout the forecast period. North America accounted for largest share of round 34% in Glycolic Acid Market adopted by Europe. North America is estimated to develop at a fastest progress charge of 6.23% through the forecast interval. Primarily based on supply, artificial will hold over 65% of market share in 2017 as it is utilized probably the most in private care merchandise. Based on application, private care held more than 28% of market share in 2016 as it is utilized essentially the most in magnificence products. Moreover consumer’s expenditure on beauty merchandise has been rising yearly in developed and creating areas. Globally, oil field and textile & dying will collectively hold round half of the market share in 2017. Increased demand for glycolic acid in textile trade as dyeing and tanning agent will additional increase the market growth over the forecast period.
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Key players of the worldwide Glycolic Acid Market are The Chemours Company, Phibro chem, CrossChem LP, CABB Group, Sigma-Aldrich Corporation, Zhonglan Industry Co, Mehul Dye Chem Industries amongst others.
Key Factors from Desk of Contents:
10 Firm Profile
10.1 The Chemours Firm
10.1.2 Product Overview
10.1.3 Monetary Updates
10.1.Four Key Developments
10.2 Phibro Chem
10.2.2 Product/Business Phase Overview
10.2.Three Financial Updates
10.2.Four Key Developments
10.Three CrossChem LP
10.3.1 Firm Overview
10.Three.2 Product/Enterprise Phase Overview
10.3.3 Monetary Updates
10.3.4 Key Developments
10.Four CABB Group
10.Four.1 Firm Overview
10.4.2 Product/Enterprise Phase Overview
10.4.Three Monetary Updates
10.Four.Four Key Developments
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