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Glycolic Acid Market – OverviewThe progress of the Glycolic Acid Market has been spurred by the anti-inflammatory and anti-oxidant effects that are added by its incorporation in products. Market reports connected with the chemicals and materials industry have been offered by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is anticipated to develop at a CAGR of 6.09 % while attainting revenues totaling USD 375.5 million in the duration of the forecast period.
The elevated demand spike for skin and hair care products is anticipated to boost the development of the market in the coming years. The advancement of personal care products segment is expected to have a considerable effect on the development trajectory of the market in the forecast period. The upsurge in the skincare ingredients market is also adding a favorable impetus to the expansion of the Glycolic Acid Market in the forecast period.
Industry Updates:
Dec 2018 An assistant professor in the Department of Pharmacy Practice and Science at the University of Maryland School of Pharmacy (UMSOP), has been awarded a three-year, $2.2 million federal grant to investigate the clinical use of bulk drug substances (active ingredients) that have been nominated for use in compounding by outsourcing facilities. Some of the bulk drug substances that the professor and her team have been tasked with evaluating include alpha lipoic and Glycolic Acid.
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Segmental Analysis
The segmentation of the market for Glycolic Acid is segmented on the basis of Application, Source, and Region. Based on Source, the Glycolic Acid Market is segmented into synthetic and natural. On the basis of Application, the Glycolic Acid Market is segmented into petroleum refining, textile dyeing & finishing, personal care, oil field, and others. The Regions considered for the Glycolic Acid Market are Asia Pacific, Middle East, North America, Europe, Latin America, and Africa.
Detailed Regional Analysis
The regional analysis of the Glycolic Acid Market covers regions such as Europe, Asia Pacific, North America, Latin America, Africa, and Middle East. The North American region is in charge for the principal market portion in terms of value and volume in 2016, and is forecasted to expand at the highest CAGR of 6.23% in terms of value throughout the forecast period. In the North American regional market, the U.S. contributed the major market portion of 53.3% in terms of volume in 2016 and is likely to escalate at the highest CAGR of 5.49% trailed by Canada through the forecast period. The European region controls the next prime market share in 2016. In the European region, Germany leads the regional market and is anticipated to build up at the highest CAGR followed by nations such as Spain, France, and the UK. The Asia Pacific market is projected to develop optimistically through the forecast period. The developing economies such as Japan, India, China, and Australia are expected to expand at a substantial rate due to the rising applications in many industries such as textile dyeing & finishing and personal care.
Competitive Analysis
Improved accessibility to diverse resources and capabilities is expected to impel the growth of the market in the coming forecast period. The use of successful strategy execution techniques is estimated to have a positive effect on the future growth of the market. The employment of product differentiation has led to a favorable product differentiation scenario that is complementing the market’s growth. The participants in the market are trying to establish several USPs that will enable them to capture a more substantial share of the market. Additionally, the vertical additions and product tactics of the market is increasing the potential for the market players. The analysis of the market observes that the market is poised for an accelerated growth rate in the forthcoming years.
The noteworthy competitors adding to the growth of the Glycolic Acid Market are Phibro chem, Zhonglan Industry Co, CrossChem LP, CABB Group, Sigma-Aldrich Corporation, The Chemours Company, and Mehul Dye Chem Industries among others.
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