The global Glycolic Acid Market is anticipated to reach market valuation of USD 362.Fifty two 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 is a colorless liquid which is odorless, and is soluble in alcohol at room temperature. Its chemical formulation is HOCH2COOH and may be processed naturally & synthetically. It possess varied properties similar to keratolytic, germinative layer and a fibroblast stimulating action. It exhibits anti-inflammatory results and anti-oxidant actions leading to large utility scope in personal care, textile dyeing & finishing, oil field, petroleum refining, and others.
The worldwide Glycolic Acid Market is expected to develop steadily and register a CAGR of 6.09% over the forecast period. Among the outstanding traits and drivers supporting the expansion of global Glycolic Acid Market are identified as rising awareness regarding skincare and hair care together with progress in personal care products. Furthermore, growing affinity in the direction of skin lightening and rising demand of anti-aging products among geriatric population is anticipated to enhance skincare elements market. Growing spending on household cleansing is anticipated to additional propel the Glycolic Acid Market progress. Stringent regulation by limiting the concentration of glycolic acid in personal care merchandise coupled with availability and growth of substitutes equivalent to salicylic acid are expected to hinder market growth.
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Based on the regions, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Center East & Africa. North America accounted for the largest market share by way of value and volume in 2016, and is projected to develop at the highest CAGR of 6.23% by way of value through the forecast interval of 2017 to 2023. In North America, U.S contribute the largest market share of 53.3% by way of volume and is projected to grow at the best CAGR of 5.Forty nine% adopted by Canada throughout the evaluate interval. Europe held the second largest market share in 2016. Within Europe, Germany dominated the market share and is projected to develop at the very best CAGR followed by UK, France, and Spain. Rising economies of Asia Pacific comparable to India, China, Japan, and Australia are projected to develop at a big charge owing to the expansion of purposes such as personal care and textile dyeing & finishing.
The global Glycolic Acid Market is segmented on the idea of source, software and area. On the premise of supply, Global Glycolic Acid Market is segmented into natural and synthetic. Based on application, the global glycolic acid market is segmented into private care, textile dyeing & ending, oil area, petroleum refining, and others. On the premise of area, market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
International Glycolic Acid Market is projected to reach USD 263.Three Million by 2023 with CAGR of 6.09% in terms of worth during overview interval of 2017-2023. Xylene Equipmen Enhance in demand of non-public care merchandise with rising awareness relating to pores and 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 followed by Europe. North America is estimated to grow at a quickest progress fee of 6.23% through the forecast interval. Based mostly on source, 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 greater than 28% of market share in 2016 as it is utilized essentially the most in beauty merchandise. Moreover consumer’s expenditure on beauty products has been rising yearly in developed and growing areas. Globally, oil subject and textile & dying will collectively hold round half of the market share in 2017. Elevated demand for glycolic acid in textile industry as dyeing and tanning agent will additional enhance the market progress over the forecast period.
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Key players of the global Glycolic Acid Market are The Chemours Firm, Phibro chem, CrossChem LP, CABB Group, Sigma-Aldrich Company, Zhonglan Business Co, Mehul Dye Chem Industries among others.
Key Points from Desk of Contents:
10 Firm Profile
10.1 The Chemours Firm
10.1.2 Product Overview
10.1.3 Monetary Updates
10.1.4 Key Developments
10.2 Phibro Chem
10.2.2 Product/Enterprise Phase Overview
10.2.Three Financial Updates
10.2.Four Key Developments
10.Three CrossChem LP
10.Three.1 Company Overview
10.3.2 Product/Enterprise Section Overview
10.Three.3 Monetary Updates
10.3.Four Key Developments
10.4 CABB Group
10.Four.1 Firm Overview
10.4.2 Product/Business Segment Overview
10.Four.3 Financial Updates
10.4.4 Key Developments
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