Glycolic Acid Market Segmentation:
Application Segment Analysis
The global glycolic acid market is segmented and analyzed for demand and supply by application into personal care & dermatology, tanning & dyeing, agriculture, medical, and food. Out of the three types of glycolic acid, the personal care & dermatology segment is estimated to gain the largest market share of about 40% in the year 2035. The growth of the segment can be attributed to the increasing number of cosmetic and personal care products in the market and spending. For instance, in Europe, the market value of skin care products made up to one-fifth of the entire cosmetic industry. Glycolic acid also known as hydroxyacetic acid is used as a key ingredient for the manufacture of antiaging creams, lipsticks, shampoos, hair treatment sprays, moisturizers, cleansers, deodorants, fragrances, and body wash products due to improving and healing skin, and anti-aging properties. There will be an increasing demand for these products from the cosmetics sector, thus leading to an increase in the demand for glycolic acid market, which will further support market growth. These factors are estimated to contribute to the market growth in the forecast period.
Grade Segment Analysis
The global glycolic acid market is also segmented and analyzed for demand and supply by grade into cosmetic grade, technical grade, pharmaceutical grade, and industrial grade. Amongst these four segments, the cosmetic grade segment is expected to garner a significant share in the year 2035. Amorphous PET is used for the manufacture of containers and packaging because it has a high transparency that's similar to glass. An aqueous solution or crystalline powder with a concentration ranging from 10 to 99 % purity is the cosmetic grade glycolic acid. Due to its unparalleled and exceptional performance in combating aging and antipollution skin treatments, it is a very popular and favored grade of glycogenic acid. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years.
Our in-depth analysis of the global market includes the following segments:
|
By Purity Level |
|
|
By Grade |
|
|
By Application |
|
