TAGS: Sustainability / Natural Cosmetics
Skin Care
Hair Care
Glycolic acid is widely used as an intermediate in the formulation of various skin and hair care products, and acts as an exfoliating and moisturizing agent. Thus, increase in demand for skin and hair products becomes a key driving factor for the sales of glycolic acid.
Natural Alternative to Synthetic Chemicals
It is used for the variety of applications in the chemical industry, which includes the production of polyglycolic acid. In the industrial and research application, polyglycolic acid is used to make drug delivery systems for small-molecule drugs, proteins, and macromolecules.
Because of its tunable mechanical properties, biodegradability, and biocompatibility, it is often used in a variety of tissue-engineering applications. In the near time, this trend is projected to boost global demand for polyglycolic acid.
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Glycolic acid demand for personal care and cosmetics is expected to rise at an exponential rate,” said a Fact.MR analyst.
In 2020, the global glycolic acid market was worth over USD 270 million. The global demand for glycolic acid is projected to register a CAGR of more than 7 percent during the assessment period. The primary factor expected to drive the market is rising use of skin care and hair care products around the world.
The Asia Pacific region dominates the global market as compared to other regions. Glycolic acid is a natural alternative to synthetic chemicals in beauty products. Use of formaldehyde-free glycolic acid as a clean alternative to synthetic chemicals is increasing in beauty products.
Source: Fact.MR