What is Global Hydroxyacetic Acid (Glycolic Acid) (CAS 79-14-1) Market?
Global Hydroxyacetic Acid, commonly known as Glycolic Acid, is a significant player in the chemical market, recognized for its versatile applications across various industries. This compound, identified by its CAS number 79-14-1, is a type of alpha hydroxy acid (AHA) that is naturally derived from sugarcane. Its unique properties, such as its ability to penetrate the skin and its water solubility, make it a valuable ingredient in numerous products. The global market for Hydroxyacetic Acid is driven by its demand in sectors like personal care, where it is used in skincare products for its exfoliating properties. Additionally, it finds applications in household cleaning products due to its effectiveness in removing mineral deposits and rust. The market is also expanding due to its role in the production of biodegradable plastics, which are gaining popularity as environmentally friendly alternatives to traditional plastics. As industries continue to innovate and seek sustainable solutions, the demand for Hydroxyacetic Acid is expected to grow, making it a crucial component in the global chemical market landscape.
Hydroxyacetic Acid Solid, Hydroxyacetic Acid Solution (50%-60%), Hydroxyacetic Acid Solution (61%-70%) in the Global Hydroxyacetic Acid (Glycolic Acid) (CAS 79-14-1) Market:
Hydroxyacetic Acid is available in various forms, each catering to specific industrial needs. The solid form of Hydroxyacetic Acid is primarily used in applications where a concentrated form is required. This form is particularly beneficial in industrial cleaning and manufacturing processes where high efficacy is needed. The solid form is also used in the formulation of certain personal care products, where precise concentrations are necessary to achieve desired results. On the other hand, Hydroxyacetic Acid Solution, available in concentrations ranging from 50% to 60%, is widely used in the personal care industry. This solution is favored for its ease of use and ability to blend seamlessly with other ingredients. It is commonly found in skincare products such as chemical peels and exfoliants, where it helps to remove dead skin cells and promote skin renewal. The solution form is also used in household cleaning products, where it acts as a powerful agent for removing tough stains and mineral deposits. The higher concentration solution, ranging from 61% to 70%, is typically used in more demanding industrial applications. This form is particularly effective in the production of biodegradable plastics, where it serves as a monomer in the polymerization process. The higher concentration allows for greater control over the polymerization process, resulting in plastics with desirable properties such as biodegradability and strength. Additionally, this form is used in the textile industry for dyeing and finishing processes, where it helps to improve the quality and durability of fabrics. Overall, the various forms of Hydroxyacetic Acid cater to a wide range of applications, each offering unique benefits that contribute to the compound's versatility and demand in the global market.
Household & Institutional Cleaning, Personal Care, Biodegradable Plastic in the Global Hydroxyacetic Acid (Glycolic Acid) (CAS 79-14-1) Market:
The usage of Global Hydroxyacetic Acid in various sectors highlights its versatility and importance in modern industries. In the realm of Household & Institutional Cleaning, Hydroxyacetic Acid is a key ingredient due to its excellent cleaning properties. It is effective in removing mineral deposits, rust, and other tough stains, making it a preferred choice for cleaning products used in homes and institutions. Its ability to break down and dissolve these deposits without causing damage to surfaces is a significant advantage, leading to its widespread use in cleaning formulations. In the Personal Care industry, Hydroxyacetic Acid is renowned for its role in skincare products. Its exfoliating properties make it a popular ingredient in chemical peels, exfoliants, and anti-aging products. By promoting the shedding of dead skin cells and encouraging cell renewal, it helps to improve skin texture and appearance. This makes it a valuable component in products aimed at enhancing skin health and beauty. Furthermore, Hydroxyacetic Acid is gaining traction in the production of Biodegradable Plastics. As the world shifts towards more sustainable and environmentally friendly solutions, the demand for biodegradable plastics is on the rise. Hydroxyacetic Acid serves as a monomer in the production of these plastics, contributing to their biodegradability and reducing the environmental impact of plastic waste. Its role in this sector underscores its importance in the development of sustainable materials and solutions. Overall, the diverse applications of Hydroxyacetic Acid across these sectors highlight its significance and potential for growth in the global market.
Global Hydroxyacetic Acid (Glycolic Acid) (CAS 79-14-1) Market Outlook:
In 2024, the global market size for Hydroxyacetic Acid, also known as Glycolic Acid, was valued at approximately US$ 161 million. This market is projected to experience significant growth, reaching an estimated value of around US$ 262 million by 2031. This growth is expected to occur at a compound annual growth rate (CAGR) of 7.3% during the forecast period from 2025 to 2031. The market is dominated by a few key players, with Chemours being the largest manufacturer, holding a production market share of about 46%. The top three companies in the market collectively account for approximately 81% of the total sales share. This concentration of market power among a few major players highlights the competitive nature of the industry and the importance of strategic positioning and innovation to maintain and grow market share. As the demand for Hydroxyacetic Acid continues to rise across various industries, these leading companies are likely to play a crucial role in shaping the market dynamics and driving future growth.
| Report Metric | Details |
| Report Name | Hydroxyacetic Acid (Glycolic Acid) (CAS 79-14-1) Market |
| Forecasted market size in 2031 | approximately US$ 262 million |
| CAGR | 7.3% |
| Forecasted years | 2025 - 2031 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Chemours, CrossChem, CABB, Water Chemical, Danhua Technology, Sinopec Yangzi Petrochemical |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
