Glycolic Acid Market, Size & Share Analysis - By Product Type, By Application, By Region - Forecasts (2024 - 2032)
Glycolic acid market , a colorless and odorless alpha-hydroxy acid (AHA), has gained significant traction in various industries due to its versatile properties and wide-ranging applications. This article delves into the current trends, growth drivers, and future prospects of the Glycolic acid market. The Glycolic Acid Market Size was valued at USD 0.58 Billion in 2022. The Glycolic Acid industry is projected to grow from USD 0.60 Billion in 2023 to USD 2.1 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.2% during the forecast period (2023 - 2030). C₂H₄O₃, also known as Hydroacetic acid is used in various applications such as dyeing and tanning agent in the textile industry, flavoring agent & preservative in the food & beverage industry, and the cosmetic industry for the manufacturing of anti-aging products. Market Overview Glycolic acid, derived primarily from sugarcane and other natural sources, is renowned for its ability to penetrate the skin deepl