![Global Glycolic Acid Market](https://res.cloudinary.com/devmoveo/image/upload/v1706014836/skyquest/report/phpIdEQ2f.jpg)
Report ID: SQMG15E2052
Report ID:
SQMG15E2052 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
92 |
Figures:
77
Glycolic Acid Market Driver
The market will grow as a result of ongoing advances in the cosmetics sector. The production of numerous skincare products, including creams, face masks, and peels, mostly use glycolic acid, which will increase demand. The main driver of rising product demand is an increase in consumer awareness, as well as an increase in per capita disposable income and an improvement in living conditions, particularly in India, Malaysia, and China. Lipsticks, shampoo, hair care treatment sprays, moisturizers, cleansers, scrubs, fragrances, body washes, and other items fall under the category of cosmetics. Almost 95% of these products include hydroxyacetic acid as a raw ingredient because it improves the skin by removing dark spots, uneven pigmentation, enlarged pores, dead skin, and improving general skin health.
Other industrial applications, such as food preservatives, the textile industry, household goods, electronics, oil & gas, and pharmaceutical items, are seeing an increase in demand for this commodity. This will accelerate the market's growth for the global glycolic acid industry.
Glycolic Acid Market Restraint
The product has certain negative environmental consequences due to the discharge of phosgene gas during the production of glycolic acid. The development of strict environmental restrictions regarding phosgene gas by various governments and groups has hampered industry expansion. Additionally, lactic and salicylic acids are the main alternatives and have a variety of uses. The use of these replacements as preservatives and the growing shift toward more organic ingredients in the manufacture of cosmetics goods are factors that limit the market growth.
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Report ID: SQMG15E2052