San Francisco, California (PRWEB) May 28, 2014
The global market for glycolic acid is expected to reach USD 277.8 million by 2020, according to a new study by Grand View Research, Inc. Glycolic acid is being increasingly used as an active ingredient in personal care products such as haircare and skincare. The growing consumer awareness regarding the benefits of glycolic acid as an anti oxidizing and exfoliating product is expected to fuel demand over the forecast period. In addition, glycolic acid is used in the manufacturing of polyglycolic acid (PGA), used for the manufacturing of absorbable sutures for healthcare applications. Growing standard of healthcare in emerging economies is expected to result in increased demand for these sutures which in turn would boost the demand for glycolic acid.
Personal care products were the largest application segment accounting for over 30,000 tons of glycolic acid consumption in 2013. Exfoliation and anti-ageing properties of glycolic acid make them ideally suited for use in haircare and skincare products. Growing disposable income and changing lifestyle are expected to play a key role in augmenting demand for glycolic acid based personal care products.
The report “Glycolic Acid Market Analysis By Application (Personal Care, Household Cleaning, Industrial) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/glycolic-acid-industry.
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Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the global Glycolic Acid market on the basis of application, product and region:
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Latest Report Published By Grand View Research:
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com.
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