This news update discussing how the global glycolic acid market will grow is brought to you by Special Chem.
A recent study by Transparency Market Research (TMR) forecasts that the global glycolic acid market will grow at a CAGR of 11.8% between the years 2012 to 2018. TMR, a market intelligence firm based in the United States, in its report says that the glycolic acid market which was valued at US$93.30 million in 2011 will report a market value worth US$203.34 million by 2018. The report is titled ‘Glycolic Acid Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018’.
The global glycolic acid market is basically driven by the market for personal care products. Glycolic acid is used extensively in personal care products like moisturizers, face peels, creams, lotions, and others. Glycolic acid is basically a crystalline, odorless, and a colorless solid and is by far the smallest Alpha Hydroxy Acid (AHA). It is naturally found in vegetables and fruits like unripe grapes, sugarcane, sugar beets, pineapple, and others. On a commercial scale, glycolic acid is synthesized artificially via several chemical reactions. Due to its moisturizing and exfoliating properties, glycolic acid is mostly used in the manufacturing of hair shampoos, face creams and lotion, and other similar products.
The global glycolic acid market is segmented on the basis of applications, and geography. Based on applications, the glycolic acid market is categorized into industrial, personal care, household cleaning, and others. In terms of application, highest share in the global glycolic market is held by the personal care segment. Also, in 2011, the contribution of this application segment in the overall glycolic acid market had exceeded 55%. The rising demand for anti-ageing products is a major factor driving this market since, glycolic acid helps in reducing marks, facial scars, and age related fine lines. Also, the growth of the global glycolic acid market can also be attributed to greater awareness with regard to greater use of polyglycolic acid in PET bottles, and absorbable medical sutures.
For more information regarding how the global glycolic acid market will grow please visit the Special Chem link above. Please contact Nexreg for Regulatory Services.