글리콜산 시장 보고서 : 공급원, 순도 레벨, 용도, 지역별(2024-2032년)

The global glycolic acid market size reached US$ 456.2 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 796.6 Million by 2032, exhibiting a growth rate (CAGR) of 6.1% during 2024-2032. The market is experiencing a significant growth mainly driven by its rising usage in skincare, personal care and pharmaceutical sectors. Innovations in product formulations and a shift toward sustainable production methods are also contributing positively to the market growth.

Glycolic Acid Market Analysis:

• Major Market Drivers: Key market drivers include the rising product demand in the skincare industry mainly for anti-aging and exfoliation products and increased application in pharmaceuticals. The market is also driven by the growing consumer preference for sustainable and ecofriendly products. Furthermore, the ongoing innovations in product formulations which aims at improving the efficacy of glycolic acid across various industries, is also creating a positive outlook for the market.
• Key Market Trends: Key trends in the market include the increased use of glycolic acid in skincare products mainly due to its anti-aging and exfoliation benefits. The gradual shift toward sustainable and eco-friendly production methods along with innovations in product formulations are also propelling the market growth. The growing consumer demand for effective skin care solutions is further enhancing the market's expansion as consumers nowadays seek products that offer both efficacy and safety.
• Geographical Trends: Geographical trends in the market shows significant growth in North America due to its rising demand in personal care and cosmetics industry. Europe follows closely, mainly driven by the growing applications in pharmaceuticals and textiles. Asia-Pacific is emerging as a key region with rapid industrialization and rising consumer awareness of skin care products. The demand in these regions is supported by advancements in manufacturing and the shift towards sustainable practices further fueling the market's growth globally.
• Competitive Landscape: Some of the major market players in the glycolic acid industry include Avid Organics, CABB Group GmbH, China Petrochemical Corporation, CrossChem Limited, Mehul Dye Chem Industries, Merck KGaA, Parchem fine and specialty chemicals, The Chemours Company, Tokyo Chemical Industry Co. Ltd, Water Chemical Co. Ltd and Zhonglan Industry Co. Ltd., among many others.
• Challenges and Opportunities: The market faces various challenges such as strict regulatory requirements and price volatility of raw materials. However, these challenges also present significant opportunities for innovation in cost effective and sustainable production methods. In line with this, the rise in the consumer demand for effective skincare products and the expanding applications in pharmaceuticals and textiles offers significant growth potential.

Glycolic Acid Market Trends:

Rising Product Demand in Skincare

Glycolic acid is gaining popularity in the skincare industry, particularly for its anti-aging and exfoliation benefits. Its small molecular size allows it to penetrate the skin deeply, effectively promoting cell turnover and revealing fresher, younger-looking skin. This has made it a key ingredient in products targeting fine lines, wrinkles, and hyperpigmentation. Consumers are increasingly seeking products that provide visible results, driving the demand for glycolic acid-based formulations. Additionally, its ability to gently exfoliate and improve skin texture without significant irritation has broadened its appeal across various skincare routines. For instance, in February 2024, L'Oreal Paris launched the Glycolic Bright Dark Circle Eye Serum, tailored for Indian skincare needs. This breakthrough product is designed to reduce dark circles by 49% in just two weeks. The serum, containing three percent Glycolic Acid, Vitamin CG, and Niacinamide, comes with a unique Triple Bead Applicator for quick absorption and instant cooling effect. These developments, along with the continuous innovation in product formulations and targeted solutions, are significantly contributing to the glycolic acid market growth.

Rising Focus on Sustainability

In the glycolic acid market, there is a growing emphasis on sustainable and eco-friendly production methods as companies respond to increasing environmental concerns. Manufacturers are exploring ways to minimize their carbon footprint by adopting greener processes, such as using renewable raw materials and reducing waste in production. This shift is driven by the rising consumer demand for environmentally responsible products and regulatory pressures. As sustainability becomes a key differentiator, companies investing in eco-friendly production methods are better positioned to meet market expectations and gain a competitive edge. For instance, in March 2023, Chemours unveiled a long-term sustainability program, aiming to reduce the carbon footprint of its glycolic acid grades by up to 80% as compared to a 2023 baseline. The initiative includes a shift to renewable energy and the use of renewably sourced or recycled carbon dioxide. Chemours will also replace petrochemical-based formaldehyde with syngas-based formaldehyde.

Innovation in Formulations

Innovation in formulations is a key trend in the glycolic acid market, as companies invest in enhancing its efficacy, especially in personal care and pharmaceutical products. By developing advanced formulations, manufacturers aim to improve glycolic acid's performance in skincare, making it more effective in treating issues like hyperpigmentation, acne, and aging. In pharmaceuticals, innovation focuses on utilizing glycolic acid in drug delivery systems and creating stable, high-purity formulations. These innovations not only increase product effectiveness but also cater to the growing consumer demand for safe and reliable skincare and pharmaceutical solutions. These innovative formulations enhance product performance, meeting the increasing demand for effective and reliable skincare and pharmaceutical solutions, which, in turn, enhanced the overall glycolic acid market value. For instance, in June 2024, Living Proof unveiled a Scalp Care Exfoliator designed to eliminate flakiness and excess oil. The pre-shampoo formulation contains glycolic acid, BHAs, and PHs for exfoliation, a Pentavitin prebiotic for hydration, and soothing botanical extracts. The launch reflects the rising emphasis on scalp wellness in hair care, with a growing demand for targeted scalp care products. Industry experts attribute this trend to the increasing consumer awareness of the importance of scalp health and the desire for anti-aging scalp solutions.

Glycolic Acid Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on source, purity level, and application.

Breakup by Source:

• Synthetic
• Natural

Synthetic accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the source. This includes synthetic and natural. According to the report, synthetic represented the largest segment.

Synthetic glycolic acid accounts for the majority of the glycolic acid market share due to its consistent quality, scalability, and cost-effectiveness. The production process of synthetic glycolic acid allows for better control over purity levels and batch consistency, which is essential for its use in sensitive applications like cosmetics and pharmaceuticals. Additionally, the ability to produce synthetic glycolic acid on an industrial scale ensures a stable supply, making it more accessible and affordable compared to natural sources. According to the glycolic acid market forecast, the market is expected to experience significant growth over the coming years, driven by increasing demand in the personal care and pharmaceutical industries. As demand for glycolic acid continues to grow, particularly in the personal care industry, the preference for synthetic options remains strong, driven by these practical advantages.

Breakup by Purity Level:

• 99% Purity
• 70% Purity
• 60% Purity
• 30% Purity
• Others

99% Purity holds the largest share of the industry

A detailed breakup and analysis of the market based on the purity level have also been provided in the report. This includes 99% purity, 70% purity, 60% purity, 30% purity, and others. According to the report, 99% purity represented the largest segment.

According to glycolic acid market research report, glycolic acid with 99% purity holds the largest share of the industry due to its superior quality and effectiveness in various applications, particularly in the cosmetics and pharmaceutical sectors. This high-purity glycolic acid is essential for producing products that require precision and safety, such as skin peels, anti-aging treatments, and medicinal formulations. The 99% purity level ensures minimal impurities, which is critical for maintaining the efficacy and safety of these products, especially when applied to sensitive skin. Additionally, high-purity glycolic acid is preferred in industrial applications where consistent chemical performance is necessary. The dominance of this purity grade reflects the market's demand for reliable and high-quality ingredients in both consumer and industrial products. These attributes create a positive glycolic acid market outlook while driving the product demand across multiple industries, especially in sectors that prioritize high standards of quality and safety.

Breakup by Application:

• Personal Care and Cosmetics
• Household
• Textile
• Food Processing
• Pharmaceuticals
• Others

Personal Care and Cosmetics represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the application. This includes personal care and cosmetics, household, textile, food processing, pharmaceuticals, and others. According to the report, personal care and cosmetics accounted for the largest market share.

According to glycolic acid market report, personal care and cosmetics represents the leading segment in the market due to its widespread use in skincare products, including exfoliants, chemical peels, and anti-aging treatments. Glycolic acid's ability to penetrate the skin deeply, remove dead cells, and promote collagen production makes it a preferred ingredient in various formulations. The demand for products that offer skin rejuvenation and improved texture is driving the growth of this segment. As consumers increasingly seek effective, science-backed skincare solutions, the role of glycolic acid in the cosmetics industry continues to expand, reinforcing its dominance in this market segment. For instance, in July 2024, Foxtale and Nykaa announced partnership to introduce a new line of body care products featuring glycolic acid. This collaboration aims to redefine body care by incorporating the exfoliating and brightening properties of glycolic acid while delivering a delightful sensory experience. The products, designed under the Brightening Range, promise to elevate skin tone and offer a lasting floral fragrance. These strategic efforts, particularly the introduction of new personal care and cosmetics products incorporating glycolic acid, are fueling the glycolic acid demand across the world. This trend underscores the increasing consumer preference for science-based skincare solutions that offer benefits like skin rejuvenation, brightening, and enhanced texture. As consumers continue to seek effective and innovative skincare options, the role of glycolic acid in these products is expanding, further driving its market growth.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

North America leads the market, accounting for the largest glycolic acid market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America represents the largest regional market for glycolic acid.

North America holds the largest share of the glycolic acid market, driven by its extensive application in the personal care and cosmetics industry. The region's demand is fueled by consumer preference for anti-aging products and chemical peels that utilize glycolic acid for skin rejuvenation. Additionally, the growing trend towards sustainable and bio-based chemicals in North America boosts the adoption of glycolic acid in various industries, including textiles and pharmaceuticals. According to the glycolic acid market overview, North America's market leadership is primarily driven by its extensive use of glycolic acid in the personal care and cosmetics industry, where the product is favored for its effectiveness in skincare formulations. The region's focus on innovations and product development, coupled with consumer demand for high-quality skincare solutions, further strengthens its market position. The robust presence of key manufacturers and advanced research and development activities solidify North America's dominant position in the global glycolic acid market. According to industry reports, glycolic acid has witnessed a significant increase in average monthly search volume, reaching 244.5K Google searches. With a year-over-year change of 10.5%, this uptick reflects the growing interest in glycolic acid as a prominent ingredient in skincare products. The report suggests that brands can benefit from incorporating glycolic acid into their formulations to meet the consumer demand for effective skincare solutions.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the glycolic acid industry include Avid Organics, CABB Group GmbH, China Petrochemical Corporation, CrossChem Limited, Mehul Dye Chem Industries, Merck KGaA, Parchem fine and specialty chemicals, The Chemours Company, Tokyo Chemical Industry Co. Ltd, Water Chemical Co. Ltd and Zhonglan Industry Co. Ltd.

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

• The glycolic acid market is characterized by intense competition due to the high demand for this compound across various industries, particularly in skincare, pharmaceuticals, and personal care. Glycolic acid companies are focusing on improving product purity and quality to cater to the growing consumer preference for effective and safe products. Innovation is a key competitive factor, with companies developing new formulations that enhance the efficacy of glycolic acid in various applications, such as anti-aging and exfoliation products. The market is also seeing a shift towards sustainable and eco-friendly production methods, which is becoming a significant differentiator among competitors. Additionally, price sensitivity and regulatory compliance are crucial, as companies strive to offer cost-effective solutions while meeting stringent safety standards. These strategic focuses, including innovation in product formulations, the shift towards sustainable production methods, and adherence to regulatory compliance, are expected to significantly boost glycolic acid market revenue in the coming future.

Glycolic Acid Market News:

• In August 2023, PureTech Scientific LLC finalized its acquisition of the Glycolic Acid business from The Chemours Company for $137 million in cash, with backing from Iron Path Capital. This acquisition establishes PureTech Scientific as a global leader in producing ultra-high purity alpha hydroxy acids for the Life Sciences and Specialty Chemical industries. The company is focused on providing superior customer support, sustainability, and innovation to drive end-market growth in various industries.
• In March 2024, Era Organics introduced the Glycolic Acid Chemical Peel, which allows for professional skincare at home. The peel is designed for women aged 25 to 70 and targets wrinkles, pores, and signs of aging. It includes a unique blend of glycolic, salicylic, and lactic acids, along with natural ingredients such as Manuka Honey and Aloe Vera.

Key Questions Answered in This Report:

• How has the global glycolic acid market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global glycolic acid market?
• What is the impact of each driver, restraint, and opportunity on the global glycolic acid market?
• What are the key regional markets?
• Which countries represent the most attractive glycolic acid market?
• What is the breakup of the market based on the source?
• Which is the most attractive source in the glycolic acid market?
• What is the breakup of the market based on the purity level?
• Which is the most attractive purity level in the glycolic acid market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the glycolic acid market?
• What is the breakup of the market based on the region?
• Which is the most attractive region in the glycolic acid market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global glycolic acid market?

Table of Contents

1 Preface

2 Scope and Methodology

• 2.1 Objectives of the Study
• 2.2 Stakeholders
• 2.3 Data Sources
  • 2.3.1 Primary Sources
  • 2.3.2 Secondary Sources
• 2.4 Market Estimation
  • 2.4.1 Bottom-Up Approach
  • 2.4.2 Top-Down Approach
• 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

• 4.1 Overview
• 4.2 Key Industry Trends

5 Global Glycolic Acid Market

• 5.1 Market Overview
• 5.2 Market Performance
• 5.3 Impact of COVID-19
• 5.4 Market Forecast

6 Market Breakup by Source

• 6.1 Synthetic
  • 6.1.1 Market Trends
  • 6.1.2 Market Forecast
• 6.2 Natural
  • 6.2.1 Market Trends
  • 6.2.2 Market Forecast

7 Market Breakup by Purity Level

• 7.1 99% Purity
  • 7.1.1 Market Trends
  • 7.1.2 Market Forecast
• 7.2 70% Purity
  • 7.2.1 Market Trends
  • 7.2.2 Market Forecast
• 7.3 60% Purity
  • 7.3.1 Market Trends
  • 7.3.2 Market Forecast
• 7.4 30% Purity
  • 7.4.1 Market Trends
  • 7.4.2 Market Forecast
• 7.5 Others
  • 7.5.1 Market Trends
  • 7.5.2 Market Forecast

8 Market Breakup by Application

• 8.1 Personal Care and Cosmetics
  • 8.1.1 Market Trends
  • 8.1.2 Market Forecast
• 8.2 Household
  • 8.2.1 Market Trends
  • 8.2.2 Market Forecast
• 8.3 Textile
  • 8.3.1 Market Trends
  • 8.3.2 Market Forecast
• 8.4 Food Processing
  • 8.4.1 Market Trends
  • 8.4.2 Market Forecast
• 8.5 Pharmaceuticals
  • 8.5.1 Market Trends
  • 8.5.2 Market Forecast
• 8.6 Others
  • 8.6.1 Market Trends
  • 8.6.2 Market Forecast

9 Market Breakup by Region

• 9.1 North America
  • 9.1.1 United States
    • 9.1.1.1 Market Trends
    • 9.1.1.2 Market Forecast
  • 9.1.2 Canada
    • 9.1.2.1 Market Trends
    • 9.1.2.2 Market Forecast
• 9.2 Asia-Pacific
  • 9.2.1 China
    • 9.2.1.1 Market Trends
    • 9.2.1.2 Market Forecast
  • 9.2.2 Japan
    • 9.2.2.1 Market Trends
    • 9.2.2.2 Market Forecast
  • 9.2.3 India
    • 9.2.3.1 Market Trends
    • 9.2.3.2 Market Forecast
  • 9.2.4 South Korea
    • 9.2.4.1 Market Trends
    • 9.2.4.2 Market Forecast
  • 9.2.5 Australia
    • 9.2.5.1 Market Trends
    • 9.2.5.2 Market Forecast
  • 9.2.6 Indonesia
    • 9.2.6.1 Market Trends
    • 9.2.6.2 Market Forecast
  • 9.2.7 Others
    • 9.2.7.1 Market Trends
    • 9.2.7.2 Market Forecast
• 9.3 Europe
  • 9.3.1 Germany
    • 9.3.1.1 Market Trends
    • 9.3.1.2 Market Forecast
  • 9.3.2 France
    • 9.3.2.1 Market Trends
    • 9.3.2.2 Market Forecast
  • 9.3.3 United Kingdom
    • 9.3.3.1 Market Trends
    • 9.3.3.2 Market Forecast
  • 9.3.4 Italy
    • 9.3.4.1 Market Trends
    • 9.3.4.2 Market Forecast
  • 9.3.5 Spain
    • 9.3.5.1 Market Trends
    • 9.3.5.2 Market Forecast
  • 9.3.6 Russia
    • 9.3.6.1 Market Trends
    • 9.3.6.2 Market Forecast
  • 9.3.7 Others
    • 9.3.7.1 Market Trends
    • 9.3.7.2 Market Forecast
• 9.4 Latin America
  • 9.4.1 Brazil
    • 9.4.1.1 Market Trends
    • 9.4.1.2 Market Forecast
  • 9.4.2 Mexico
    • 9.4.2.1 Market Trends
    • 9.4.2.2 Market Forecast
  • 9.4.3 Others
    • 9.4.3.1 Market Trends
    • 9.4.3.2 Market Forecast
• 9.5 Middle East and Africa
  • 9.5.1 Market Trends
  • 9.5.2 Market Breakup by Country
  • 9.5.3 Market Forecast

10 SWOT Analysis

• 10.1 Overview
• 10.2 Strengths
• 10.3 Weaknesses
• 10.4 Opportunities
• 10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

• 12.1 Overview
• 12.2 Bargaining Power of Buyers
• 12.3 Bargaining Power of Suppliers
• 12.4 Degree of Competition
• 12.5 Threat of New Entrants
• 12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

• 14.1 Market Structure
• 14.2 Key Players
• 14.3 Profiles of Key Players
  • 14.3.1 Avid Organics
    • 14.3.1.1 Company Overview
    • 14.3.1.2 Product Portfolio
  • 14.3.2 CABB Group GmbH
    • 14.3.2.1 Company Overview
    • 14.3.2.2 Product Portfolio
  • 14.3.3 China Petrochemical Corporation
    • 14.3.3.1 Company Overview
    • 14.3.3.2 Product Portfolio
  • 14.3.4 CrossChem Limited
    • 14.3.4.1 Company Overview
    • 14.3.4.2 Product Portfolio
    • 14.3.4.3 Financials
    • 14.3.4.4 SWOT Analysis
  • 14.3.5 Mehul Dye Chem Industries
    • 14.3.5.1 Company Overview
    • 14.3.5.2 Product Portfolio
  • 14.3.6 Merck KGaA
    • 14.3.6.1 Company Overview
    • 14.3.6.2 Product Portfolio
    • 14.3.6.3 Financials
    • 14.3.6.4 SWOT Analysis
  • 14.3.7 Parchem fine and specialty chemicals
    • 14.3.7.1 Company Overview
    • 14.3.7.2 Product Portfolio
  • 14.3.8 The Chemours Company
    • 14.3.8.1 Company Overview
    • 14.3.8.2 Product Portfolio
  • 14.3.9 Tokyo Chemical Industry Co. Ltd
    • 14.3.9.1 Company Overview
    • 14.3.9.2 Product Portfolio
  • 14.3.10 Water Chemical Co. Ltd
    • 14.3.10.1 Company Overview
    • 14.3.10.2 Product Portfolio
  • 14.3.11 Zhonglan Industry Co. Ltd
    • 14.3.11.1 Company Overview
    • 14.3.11.2 Product Portfolio