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Glycolic Acid Market Set to Achieve $450 Million Valuation by 2027, at a CAGR of 6.6%| MarketsandMarkets™

Glycolic Acid Market Set to Achieve $450 Million Valuation by 2027, at a CAGR of 6.6%| MarketsandMarkets™
Browse 192 market data Tables and 38 Figures spread through 170 Pages and in-depth TOC on “Glycolic Acid Market”

Glycolic Acid Market by Grade (Cosmetic, Technical), Application (Personal Care & Dermatology, Industrial, Household) and Region (Asia Pacific, North America, Europe, South America, Middle East & Africa) – Global Forecast to 2027

The global Glycolic Acid Market size is estimated at USD 327 million in 2022 and is projected to reach USD 450 million by 2027, at a CAGR of 6.6%, between 2022 and 2027. Glycolic acid is colorless, odorless, and highly soluble in different types of solutions, including water and alcohol. It is a balanced alpha hydroxy acid found especially in unripe grapes, sugarcane juices, and sugar beets. Glycolic acid and its derivates are widely used in cosmetics, medical, textile, agriculture, and other applications.

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The key players in the glycolic acid market are The Chemours Company (US), China Petrochemical Corporation (China), CABB Group GmbH (Germany), Zhonglan Industry Co., Ltd. (China), Water Chemical Co., Ltd (China). The glycolic acid market report analyzes the key growth strategies adopted by the leading market players, between 2019 and 2021, which include expansions, and new product developments/launch.

The Chemours Company is formed from DuPont’s Performance Chemical’s businesses. It provides industrial and chemical goods for markets, such as coatings, plastics, refrigeration, and air conditioning, transportation, semiconductor, and consumer electronics, general industrial, mining, and oil & gas. It offers titanium dioxide, fluoropolymers, fluorochemicals, performance chemicals & intermediates, and mining solutions through its four business segments, namely, Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The company provides glycolic acid through the chemical solutions business segment. It manufactures glycolic acid of different grades for various applications, such as household & cleaning, industrial, and medical sutures. The company operates through 29 production facilities in nine countries and serves approximately 3,200 customers in more than 120 countries.

CABB Group GmbH is one of the leading players in the intermediate and finished chemical product market. The company operates through two business segments, namely Custom Manufacturing and Acetyls. It offers glycolic acid through its Acetyls business segment under the brand name Glycos and Glytech. The Acetyl business segment also provides high-purity monochloroacetic acid (MCA) and its derivatives, such as MCA esters and trichloroacetic acid, for agrochemicals, food additives, personal care, and cosmetic products, and other applications in a variety of markets, such as textiles, animal feed, vitamins, and drilling fluids. The segment operates through three production facilities globally: two in Germany and one in China, which is operating in cooperation with Shandong Lutai Chemical Co., Ltd. The company also has sales offices in the US and China.

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The Asia Pacific Region to Lead in Market Value, Anticipated to Register the Highest Compound Annual Growth Rate (CAGR) During the Forecast Period in the Glycolic Acid Market. The robust presence of key players in the beauty and cosmetics sector, coupled with the upsurge in industrialization and manufacturing endeavors, is set to propel the glycolic acid market in the Asia Pacific region. The expanding economies in Asia Pacific are poised to witness substantial glycolic acid demand, driven by the burgeoning cosmetics and personal care, healthcare, manufacturing, industrial, and related sectors. The escalating population in these nations presents a formidable consumer base for glycolic acid products.

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