Glycolic Acid Market Size, Share, Growth Analysis, By Purity(99%, 70%, 30%, Others), By Application(Personal Care & Cosmetics, Household, Textile, Food Processing), By Grade(Cosmetic grade and technical grade), By Region - Industry Forecast 2024-2031

Based on the region, the Asia-Pacific region held the greatest market share in terms of revenue and volume in the past year due to the developing textile and cosmetics industries in China and India. China is a significant customer because of its extensive presence in the cosmetics sector to satisfy the growing consumer demand. The market in the region will be driven by evolving lifestyles and an escalating population with a preference for beauty and wellness products. The ever-expanding cosmetic business is the source of the growth in the demand for the glycolic acid market.

North America is anticipated to have significant market expansion. One of the biggest users of glycolic acid in the United States is the pharmaceutical business, where it is safely used to create bio-absorbable suture material. Better grade medical tools, like absorbable staples, screws, meshes, and stents, are being produced thanks to technological advancements in the medical industry, which will help the market grow in the upcoming years.

Europe is expected to have significant expansion in the global glycolic acid market due to strong demand from the textile industry. High-quality textiles are necessary to transform them into various outfits for the region's dominating fashion sector. Companies are developing novel products by utilizing cutting-edge technology to accomplish this, which is anticipated to stimulate market expansion in the region.

The use of glycolic acid as a food preservative and flavoring agent has arisen in Latin America as a result of rising consumer awareness of packaged foods and beverages, which has contributed to the expansion of the glycolic acid market. Further, the glycolic acid market is anticipated to expand significantly across the Middle East and Africa. The two main nations driving market expansion are Saudi Arabia and the United Arab Emirates. The market in this region is expanding as a result of the growing use of glycolic acid in many different applications, such as the creation of cosmetics, home cleaning products, and textiles.