Glycolic Acid Market

Glycolic Acid Market Outlook (2024 to 2034)

The global glycolic acid market is projected to reach a valuation of US$ 1.13 billion by the end of 2034, up from US$ 576.2 million in 2024, which amounts to market expansion at a CAGR of 7% from 2024 to 2034.

The market is primarily being driven by glycolic acid's growing adoption as a chelating agent and pH regulator in the agricultural industry. Increasing usage of corrosion inhibitors and scale removers in the wastewater treatment industry is influencing market expansion.

Market growth is supported by consumers’ growing awareness of clean and sustainable beauty products. Awareness of the benefits of chemical peels and professional skincare treatments drives up product demand in the medical and aesthetic industries. The market is further led by the use of the product for metal cleaning and surface treatment on a global scale.

Growing demand for glycolic acid in the pharmaceutical industry, especially in the production of skincare products, is a key market growth driver. Increasing use of glycolic acid in the creation of industrial and household goods, focusing on physical appearance, and the expansion of several end-user sectors in developing nations also positively influencing market growth.

Growing environmental concerns leading to the production of economical and biodegradable cleaning products and a focus on technological advancements in production techniques are contributing to the expansion of the glycolic acid market size.

Report Attribute	Detail
Glycolic Acid Market Size (2024E)	US$ 576.2 Million
Projected Market Value (2034F)	US$ 1.13 Billion
Global Market Growth Rate (2024 to 2034)	7% CAGR
China Market Value (2034F)	US$ 159.8 Million
Canada Market Growth Rate (2024 to 2034)	5.1% CAGR
North America Market Share (2024E)	21.6%
East Asia Market Value (2034F)	US$ 278.8 Million
Key Companies Profiled	Avid Organics; CABB Group GmbH; China Petroleum & Chemical Corporation (SINOPEC); CrossChem LP; Hebei Chengxin Co., Ltd.; Hefei TNJ Chemical Industry Co. Ltd.; Phibro Animal Health Corporation; Saanvi Corp.; Shandong Xinhua Pharmaceutical Co. Ltd.; The Chemours Company; Water Chemical Co., Ltd.; Zhonglan Industry Co., Ltd.

What are the Key Glycolic Acid Market Growth Drivers?

“Growing Popularity of Natural Cosmetic Products and Biodegradability of Glycolic Acid”

Rising popularity of cosmetic products containing natural ingredients is a key driver for market growth. Because of its several skincare benefits, glycolic acid has established a significant position in the global cosmetic industry. Glycolic acid has anti-aging properties and is an effective skin treatment ingredient. The acid is gentle on sensitive skin and effectively treats acne and other skin issues.

Glycolic acid is biodegradable, metoxyacetic acid-free, and non-flammable, which makes it an ideal component in the dyeing industry. It is exempt from the volatile organic compound (VOC) category, which encourages its use in the chemical industry. The market's growth is also propelled by the shift towards natural products, driven by concerns over the adverse effects of chemicals on skin and health.

Which Factors are Projected to Impede Market Expansion to Some Extent?

“Need for Caution and Advanced Technology in Glycolic Acid Extraction”

Glycolic acid is produced through two methods: carbonylation of formaldehyde or glycolonitrile as a starting material. Both of these procedures result in the formation of formaldehyde as a byproduct. When exposed internally, formaldehyde is a harmful sensitive substance that can harm the immune system. Formaldehyde has been linked to the development of cancer in humans.

Repeated application of this substance irritates the eyes and skin. While formaldehyde is a residual product, an unintentional mixture with glycolic acid has the potential to cause severe harm to users. As a result, the extraction of glycolic acid highlights extreme caution and cutting-edge technology that is limiting market expansion.

Country Wise Insights

Fact.MR, a market research and competitive intelligence provider, through its newly published analysis, asserts that North America is projected to hold 17.5% share of the global market by 2034. Manufacturers of glycolic acid have broadened their presence to various global regions such as Southeast Asia, Central and South America, and Australia. This growth aids in the diversification of their supply chains and reduces dependence on a single provider.

What is Enabling Glycolic Acid Producers to Establish Their Presence in the United States?

“Rising Demand for Keratolytic Agents to Combat Dermatological Disorders”

Attribute	United States
Market Value (2024E)	US$ 89.2 Million
Growth Rate (2024 to 2034)	5% CAGR
Projected Value (2034F)	US$ 145.8 Million

Increasing use of glycolic acid of 99% purity in homes, pharmaceuticals, textiles, and factories is contributing to market growth. The pharmaceutical sector uses polymers with a 70% purity to create medical sutures and creams. In the United States, extensive manufacturing of natural skincare products like creams, toners, and masks is a key glycolic acid market trend benefitting suppliers and producers alike.

Glycolic acid market growth is driven by the increasing need for keratolytic agents to address dermatological conditions. Companies in the glycolic acid market are focusing on product innovation to capture a larger industry share and investing in R&D to develop application-specific products. In addition, the rising global demand for glycolic acid in the oil and refining industry presents lucrative opportunities for market participants, as hydroxyacetic acid facilitates economical cleaning and enhances processes.

What is Contributing to Substantial Market Growth in China?

“Market Benefitting from Focus on Shale Gas Extraction”

Attribute	China
Market Value (2024E)	US$ 73.1 Million
Growth Rate (2024 to 2034)	8.1% CAGR
Projected Value (2034F)	US$ 159.8 Million

Demand for glycolic acid is on the rise in China due to its multifaceted benefits, natural sources, waste reduction, regional production, environmentally conscious practices, consumer preference, and technological advancements. In addition, the versatility of glycolic acid and AHA compounds contributes to this trend. Major drivers include increased packaging demand, polyglycolic acid usage, and demand for shale gas extraction in the nation. Also, the utilization of hydroxyacetic acid in various skincare applications, such as cell recovery and exfoliation, is projected to further propel market growth.

Category-wise Insights

Glycolic acid application is segmented into personal care & cosmetics, plant growth stimulation, food flavoring & preservation, polyglycolic acid (PGA) manufacturing, cleaning agents, oil & gas, electronics, leather dyeing & tanning. Out of these eight segments, polyglycolic acid (PGA) manufacturing is estimated to account for a leading glycolic acid market share of 16.9% in 2024.

Which Grade of Glycolic Acid Accounts for Higher Application across Industries?

“Extensive Use of High-Purity Glycolic Acid in Textiles, Food & Beverages, and Oil & Gas Refining”

Attribute	Glycolic Acid ≥99%
Segment Value (2024E)	US$ 410.8 Million
Growth Rate (2024 to 2034)	6.9% CAGR
Projected Value (2034F)	US$ 803.6 Million

Increased use of glycolic acid of ≥99% purity in cosmetic products is a significant factor driving market growth. In the textile industry, glycolic acid is used as a dyeing and tanning agent. In the food & beverages industry, it serves as a flavoring agent and preservative. The effective environmental protection, handling, and robust metal ion complexing properties of high-purity glycolic acid render it an economical cleaning method in the oil and refining industry.

Which Application Accounts for Extensive Use of Glycolic Acid?

“PGA Production Accounts for Leading Market Share”

Attribute	Polyglycolic Acid (PGA) Manufacturing
Segment Value (2024E)	US$ 97.4 Million
Growth Rate (2024 to 2034)	6.9% CAGR
Projected Value (2034F)	US$ 190.4 Million

PGA, a synthetic, absorbable suture material derived from the homopolymer of glycolic acid, is manufactured through the ring-opening polymerization of glycolide and the polycondensation of glycolic acid. This thermoplastic material offers exceptional resistance to UV and moisture, finding extensive applications in shale gas extraction, biomedical sectors, and packaging industries. The global polyglycolic acid (PGA) market is exhibiting growth driven by increased demand for surgical sutures in the medical field. PGA mesh fabric, commonly used to aid in tissue healing during surgeries, further contributes to its widespread usage.

The textile industry benefits from the application of polyglycolic acid due to its high UV resistance properties, potentially impacting market size positively. Additionally, the emergence of newly developed polyglycolic acid products boasting biodegradable properties presents opportunities for tapping into new market segments. However, challenges such as high maintenance costs and rapid degradation rates are projected to hinder the growth of the polyglycolic acid segment during the forecasted period.

Competitive Landscape

Key players in the glycolic acid market are Avid Organics, CABB Group GmbH, China Petroleum & Chemical Corporation (SINOPEC), CrossChem LP, Hebei Chengxin Co., Ltd., Hefei TNJ Chemical Industry Co. Ltd., Phibro Animal Health Corporation, Saanvi Corp., Shandong Xinhua Pharmaceutical Co. Ltd., The Chemours Company, Water Chemical Co., Ltd., and Zhonglan Industry Co., Ltd. Market participants are fostering partnerships with globally famous companies to gain a strong presence in the business landscape and increase their market share.

• In 2021, The Chemours Company launched Glyclean D, a potent disinfectant and cleaner with a demonstrated capability to neutralize the SARS-CoV-2 virus, as well as other viruses and bacteria. This groundbreaking product is officially registered with the United States Environmental Protection Agency (EPA). The composition of Glyclean D includes a 70% concentration of glycolic acid (GA), an EPA-endorsed antimicrobial component specifically engineered for use in liquid disinfectants for nonporous hard surfaces.
  • Glyclean D distinguishes itself as an effective disinfectant originating from natural sources. Unlike harsh and corrosive chemicals such as quats or bleach, Glyclean D is both biodegradable and eco-friendly providing a more sustainable alternative that values the health of individuals and the environment.

Key Segments of Glycolic Acid Market Research

• By Grade :

  • ≤68%
  • 70%
  • ≥99%

• By Application :

  • Personal Care & Cosmetics
  • Plant Growth Stimulation
  • Food Flavoring & Preservation
  • Polyglycolic Acid (PGA) Manufacturing
  • Cleaning Agents
  • Oil & Gas
  • Electronics
  • Leather Dyeing & Tanning

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa