[71 Pages Premium Report] Glycolic Acid Market for Personal Care, Household Cleaning, Industrial and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018 – Glycolic Acid Industry Overview, Market Segmentation…
Transparency Market Research published new market report "Glycolic Acid Market for Personal Care, Household Cleaning, Industrial and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018," the global demand for glycolic acid was valued at USD 93.30 million in 2011 and is expected to reach USD 203.34 million in 2018, growing at a CAGR of 11.8% from 2012 to 2018. In terms of volume, the demand was 40.0 kilo tons in 2011 and is expected to reach 78.1 kilo tons in 2018, growing at a CAGR of 10.1% from 2012 to 2018.
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Glycolic acid is extensively used in a wide range of personal care products such as face lotions, moisturizers and face peels. Rising consumer awareness regarding healthy skin and hair is expected to boost the demand for glycolic acid based skincare and haircare products. Furthermore, growing use of glycolic acid in the manufacturing of polyglycolic acid (PGA), which is used in absorbable medical sutures, is expected to fuel the growth of the market over the next few years. However, inhibitions regarding the hazardous nature of concentrated glycolic acid coupled with the growth of alternate products such as salicylic are expected to hamper the growth of the market.
Personal care products were the largest application segment for glycolic acid and accounted for over 55% of the demand in 2011. This segment is expected to be the fastest growing due to the rising demand for skincare and haircare products. In addition, rising ageing population in countries such as the U.S. and Japan and the consequent demand for anti-ageing creams is expected to drive the demand for glycolic acid. Household cleaning is expected to be the second fastest application segment for glycolic acid, growing at a CAGR of over 9% from 2012 to 2018.
North America was the largest consumer of glycolic acid accounting for over 14,000 tons of global consumption in 2011. Europe and Asia Pacific together accounted for over 50% of consumption in 2011 primarily due to the growing personal care market in countries such as Russia, Poland, India, China and France. Asia Pacific is expected to be the fastest growing market over the forecast period and is expected to grow at a CAGR of 10.5% from 2012 to 2018. Brazil and Middle East are expected to drive the demand in Rest of the World.
Some of the key participants profiled in the report include DuPont, Parchem, Phibro Animal Health Corporation and Sigma-Aldrich among others. The report gives a detailed market share analysis of these companies.
The report gives a comprehensive view of the glycolic acid market in terms of volume and revenue. In addition, the report includes current demand analysis and forecast for each application in North America, Europe, Asia Pacific and Rest of the World.