Global glycolic acid market is expected to witness momentous growth
owing to increasing application in major end-use industries including
personal care and household cleaning over the forecast period. Rising
concern over skin and hair problem among youth is expected to be the
major factor driving the global glycolic acid market over the
foreseeable period.
Growing anti-aging products demand among young inhabitants is further
likely to propel the market growth in the future. Glycolic acid finds
application in industrial products such as PET bottles and medical
sutures. Increasing shore up for biodegradable product is anticipated to
have positive impact on global glycolic acid market over the next six
years.
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Polyglycolic acid (PGA) is a derivative product of glycolic acid, and
is used in manufacturing surgical sutures. Growing PGA demand owing to
increasing use in medical equipments is projected to compel the market
over the forecast period. Glycolic acid is used as an ingredient in
shampoos, face peels, ointments, and moisturizers. Growing personal care
products demand coupled with increasing consumer awareness toward use
of biodegradable products are expected to create an opportunity for the
market players over the foreseeable period.
Water treatment is the also one of the major end-use application
segment. Growing need of water owing to increasing population is
expected to be the major factor driving the market over the foreseeable
period. However, availability of salicylic acid as an alternative is
expected to hinder the market growth in the future.
High consumption of concentrated glycolic acid may lead to skin
burns. This hazardous factor is expected to restrain the global glycolic
acid market in the future. Household cleaner is among the key glycolic
acid application segment. Increasing household cleaner demand is further
expected to propel the market growth over the forecast period.
Glycolic acid is used as a dyeing and tanning agent in textile
industry. Growing textile industry owing to shift in fashion toward new
lifestyle is likely to propel the market growth in the future. Glycolic
acid finds application in food processing as a flavoring agent and as a
preservative. Growing packaged food demand is further expected to drive
the global glycolic acid market over the foreseeable period.
Glycolic acid often finds application in adhesives and plastics.
Increasing adhesives demand in furniture industry is likely to fuel in
market growth over the next six years. Glycolic acid is also used as
surface treatment, which finds application in tile flooring. Growing
building & construction industry in emerging economies including
Brazil, India, China, and Argentina is expected to drive glycolic acid
market in this region.
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North America was major regional glycolic acid market in 2013.
Increasing medical equipments demand in U.S. and Canada is expected to
drive North America glycolic acid market over the forecast period.
Increasing packaged food consumption in U.S. is expected to be the major
factor driving the market in North America. Stringent government
regulation associated with glycolic acid for use in personal care
product is expected to restrain the market over the foreseeable period.
Europe is the second major glycolic acid market. Increasing personal
care products such as hair and skin care among young consumers in Europe
is further anticipated to drive the market growth in this region over
the forecast period. Increasing personal care concerns coupled with
changing lifestyle in countries such as India and China is expected to
drive the Asia Pacific market over the foreseeable period. Growing
textile industry owing to increasing population in emerging nations of
Asia Pacific is expected to propel the market growth in this region over
next six years.
Global glycolic acid market is highly dominated by top players.
DuPont is among the top players operating in the global market. Some
other key players operating globally include CrossChem LP, Phibro Animal
Health Corp., Chemsolv Inc., and Parchem.
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