Personal care sector drives growth in glycolic acid market
Growing demand from personal care and cosmetic industry is set to propel the global glycolic acid market to around $415-mn by 2024, according to a new report by US-based distributor of market research reports, Million Insights.
Glycolic acid, which falls in the category of alpha hydroxy acid (AHA), is water-soluble, colourless, odourless, hygroscopic crystalline solid. It is found in pineapples, unripe grapes, sugarcane, sugar beets, and cantaloupes. In personal care and cosmetic industry, glycolic acid aids in reducing facial scars, marks, and age associated fine lines, besides use in hair nourishment and scalp treatment products. Asia-Pacific accounted for the major share of the market in 2016 and is expected to continue to lead in the forecast period.
Some of the key players operating in the market include Phorbol Animal Health Corporation, Parchem, Griffin International, Kureha Corporation, The Chemours Company, SimcoQC, Vornia Biomaterials, CrossChem LP, Zhonglan Industry Co, and DuPont.
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