Glycolic Acid Market Growth | Market Size, Overview, Share 2022 By Development, Key Manufacturers up to 2030
Market Overview Glycolic acid, also acknowledged as hydroxyacetic acid (C₂H₄O₃), can be defined as the smallest alpha-hydroxy acid (AHA), which is an odorless, colorless, and hygroscopic crystalline substance and is soluble in water. The Global Glycolic Acid Growth is anticipated to register a CAGR of 11.56%, surpassing a valuation of USD 415,340.1 thousand during the forecast period ( 2017-2030 ), Market Research Future (MRFR) reveals in a detailed report. Glycolic acids are extensively used as an ingredient in cosmetics and personal care products owing to its excellent penetrability properties into the skin. It is majorly used to treat acne, fine lines, dullness, blackheads, and oiliness of the skin. Glycolic acid is also used to treat melasma, psoriasis, and seborrheic keratosis. Such factors are estimated to encourage the market growth across the globe. The extensive use of glycolic acid in the oil & gas industry is considered a primary growth stimulant for the market.