Glycolic Acid Industry Statistics

In this post, we explore key statistics and trends shaping the glycolic acid industry. From market size and growth projections to sector-specific consumption patterns, these data points shed light on the evolving landscape of glycolic acid production and usage. Join us as we delve into the analytics driving the global glycolic acid market forward.

Statistic 1

"The global glycolic acid market size was valued at USD 285.0 million in 2019."

Statistic 2

"The global glycolic acid market is expected to grow at a CAGR of 7.8% from 2020 to 2027."

Statistic 3

"The cosmetic sector accounted for 68% of global glycolic acid consumption in 2015."

Statistic 4

"Bio-based glycolic acid is expected to witness the fastest growth in the market."

Statistic 5

"North America held the highest share of the glycolic acid market, accounting for 31% of the total in 2015."

Statistic 6

"The personal care industry is projected to be the fastest-growing segment in the glycolic acid market through 2025."

Statistic 7

"The glycolic acid market in Asia-Pacific is expected to grow at the highest CAGR of 9.2% during 2020-2027."

Statistic 8

"Factors such as growing demand in major end-use industries and the need for environmentally friendly products are fueling the global glycolic acid market growth."

Statistic 9

"More than 58% of glycolic acid production costs come from raw materials."

Statistic 10

"The textile industry is expected to grow at above 7.5% CAGR up to 2024 in the glycolic acid market."

Statistic 11

"The market for household cleaners is expected to reach over USD 105 million by 2027 in glycolic acid usage."

Statistic 12

"Europe glycolic acid market is expected to witness gains exceeding 7% CAGR from 2016 to 2024."

Statistic 13

"Medical applications of glycolic acid are expected to reach over USD 30 million by 2024."

Statistic 14

"The increasing demand for anti-aging products is likely to positively impact global glycolic acid market over the forecast period."

Statistic 15

"Major players in the glycolic acid market include CABB Group GmbH, Zhonglan Industry Co., Ltd., PhibroChem, and others."

Statistic 16

"By 2027, the global glycolic acid market is expected to reach 521.1 million USD."

Statistic 17

"In 2020, the APAC glycolic acid market was worth 91 million USD."

Statistic 18

"China is the largest consumer of glycolic acid in the APAC region."

Statistic 19

"The development and commercialization of new and innovative products is a major trend in the glycolic acid industry."

Statistic 20

"Technological advancements in product manufacturing process have a positive impact on the glycolic acid market."

Overall, the statistics indicate a strong and steady growth trajectory for the global glycolic acid industry, driven largely by increasing demand in key sectors such as cosmetics, personal care, and healthcare. The shift towards bio-based glycolic acid and the emphasis on environmentally friendly products are significant trends shaping the market landscape. Regions like North America and Asia-Pacific are poised for substantial growth, with China emerging as a key market player. Technological advancements and the focus on innovation are crucial factors driving the industry forward. With a projected market size of USD 521.1 million by 2027, the glycolic acid market presents promising opportunities for key players and stakeholders to capitalize on the evolving consumer landscape and industry trends.