Glycolic Acid Market Global Demand, Growth, Key Players & Forecast 2032
The global glycolic acid market was valued at USD 468.2 million in 2019 and is expected to reach approximately USD 820.3 million by 2027, growing at a CAGR of 7.3% over the forecast period. In 2019, Asia Pacific emerged as the leading region, accounting for 39.02% of the global market share. Meanwhile, the U.S. glycolic acid market is anticipated to hit USD 140.96 million by 2027, driven by strong demand across cosmetics, skincare, and industrial cleaning applications.
In recent years, glycolic acid market has moved from a niche skincare ingredient to a globally sought-after compound with wide-reaching applications. Whether you're browsing the label of your favorite facial cleanser or researching innovative industrial solutions, chances are glycolic acid is playing a silent but powerful role. What started as a cosmetic staple has now evolved into a multi-industry asset, gaining momentum across the globe.
The Beauty Industry : Glycolic Acid Market
No discussion of glycolic acid market is complete without highlighting its prominence in cosmetics and personal care. As the smallest alpha hydroxy acid (AHA), glycolic acid has the unique ability to penetrate the skin deeply and effectively. It promotes exfoliation, boosts collagen production, and improves skin texture—making it a favorite among dermatologists and beauty brands alike.
In the age of social media-driven beauty standards, consumers are constantly seeking products that deliver visible results. Glycolic acid fits perfectly into this narrative. Its role in anti-aging serums, exfoliating toners, acne treatments, and chemical peels continues to expand, especially in rapidly growing markets like Asia-Pacific, where the demand for premium skincare products is rising.
Furthermore, a growing awareness around skincare routines, especially among millennials and Gen Z, is pushing demand for effective and science-backed ingredients. As a result, beauty companies are launching new product lines centered around glycolic acid, helping to maintain its popularity in this highly competitive sector.
List Of Key Companies Profiled In Glycolic Acid Market:
- China Petrochemical Corporation (Sinopec Corp.), (China)
- The Chemours Company (U.S.)
- CABB Group (Germany)
- Saanvi Corp (India)
- Parchem Fine & Specialty Chemicals (U.S.)
- Water Chemical Co., Ltd (China)
- Shandong Xinhua Pharmaceutical Co., Ltd. (China)
- Mehul Dye Chem Industries (India)
- Avid Organics (India)
- Zhonglan Industry Co., Ltd. (China)
- Eastman Chemical Company (U.S.)
Beyond Beauty: Industrial and Pharmaceutical Applications
While the cosmetics industry remains a major consumer, glycolic acid is far from being a one-trick pony. It is a versatile chemical used across multiple industries. Its properties—being biodegradable, non-toxic, and water-soluble—make it an ideal component for various formulations beyond skincare.
In the pharmaceutical industry, glycolic acid is used in the manufacture of bio-absorbable sutures and controlled drug-release systems. Its effectiveness in creating biodegradable polymers is also gaining attention, particularly in the field of medical devices.
The textile and leather industries leverage glycolic acid during dyeing and tanning processes due to its efficient pH adjustment capabilities. Similarly, in food processing, it acts as a preservative and flavor enhancer.
Additionally, glycolic acid serves as an effective agent in cleaning and industrial solutions, especially for removing hard water deposits, rust, and mineral scale without damaging metal surfaces. Its increasing usage in household cleaning products and electronic component manufacturing is a testament to its adaptability.
Read More : https://www.fortunebusinessinsights.com/industry-reports/glycolic-acid-market-101922
Key Market Segments: Purity Levels and Their Uses
The glycolic acid market is segmented by purity level—primarily 99%, 70%, 30%, and others. Among these, the 99% purity segment holds the largest share, largely because it is used across high-demand sectors like pharmaceuticals, cosmetics, textiles, and food processing.
The 70% purity level is particularly used in medical applications, while 30% glycolic acid is popular in chemical peels and skincare treatments. These variations in concentration allow for customized applications across industries, ensuring that glycolic acid remains relevant across a broad spectrum of use cases.
Asia-Pacific: The Market Leader
When it comes to geographical dominance, the Asia-Pacific region leads the glycolic acid market, accounting for nearly 39% of the global share in 2019. Countries like China and India are experiencing rapid industrialization, urbanization, and economic growth, which in turn is boosting demand in both cosmetics and industrial applications.
Furthermore, the booming e-commerce landscape in these regions has made skincare products more accessible to consumers. Coupled with a growing middle-class population and increased disposable income, Asia-Pacific continues to be the most dynamic and lucrative market for glycolic acid.
Key Industry Developments:
- October 2018: CABB Group GmbH invested millions of Euros to increase the storage and production volume of monochloroacetic (MCA) acid & its derivatives at the Knapsack and Gersthofen facility. The expansion will be boosting the company’s production of glycolic acid at Gersthofen facility.
- January 2019 - Skinceuticals launched a new glycolic acid cream, Glycolic 10 Renew Overnight that improves skin glow by 36% while also maintaining tolerability. The cream effectively targets dullness, fine lines, and uneven texture of the skin. It stimulates cell regeneration for enriched tone, texture, and brighter complexion.
Market Challenges: Health, Safety, and Environmental Concerns
Despite its widespread use and benefits, glycolic acid does come with certain challenges. Overuse in cosmetics can lead to skin irritation, inflammation, and heightened sensitivity to sunlight. As a result, product developers and consumers alike must pay attention to recommended usage levels and combine glycolic acid with sun protection measures.
On the manufacturing side, the production of glycolic acid can involve hazardous byproducts such as phosgene—a compound that requires stringent regulatory control. Environmental regulations are becoming tighter, particularly in North America and Europe, which may pose challenges for manufacturers and increase compliance costs.
Additionally, the emergence of natural and plant-based alternatives such as lactic acid and salicylic acid is shifting some consumer preferences away from synthetic options, particularly in the clean beauty segment.
Competitive Landscape and Key Players
The glycolic acid market is moderately fragmented, with both global giants and regional players competing for market share. Some of the major players include:
- The Chemours Company
- CABB Group GmbH
- Water Chemical Co. Ltd.
- Parchem Fine & Specialty Chemicals
- Mehul Dye Chem Industries
- Avid Organics Pvt. Ltd.
- Zhonglan Industry Co. Ltd.
These companies are investing heavily in research and development, capacity expansion, and strategic collaborations to maintain a competitive edge.
Outlook
The growth of the glycolic acid market is not just a reflection of changing consumer habits but also a sign of how versatile and valuable this compound has become across industries. As awareness of its benefits continues to rise and innovation drives new formulations, glycolic acid is poised to remain a key ingredient in both personal care and industrial applications. For businesses looking to tap into a high-growth, high-impact market, glycolic acid market offers opportunities that extend well beyond the skincare aisle.
