Glycolic Acid Market Set for Rapid Growth and Trend, by 2027

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Glycolic Acid Market

• Global Industry Analysis, Size, Share, Growth,
  Trends and Forecast, 2027

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Glycolic Acid Market Key Highlights

• The global formaldehyde market was valued at US
  8.6 Bn in 2018 and is anticipated to expand at a
  CAGR of 3 from 2019 to 2027. 
• Use of formaldehyde in the production of resins
  is growing these formaldehyde based resins find
  applications in a wide range of activities. 

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Key Drivers of Glycolic Acid Market

• Glycolic acid products are widely used in
  industrial cleaning applications in water
  treatment plants, dairies, concrete trucks, and
  metal cleaning plants. Glycolic acid is an ideal
  material for industrial cleaning, as it is
  eco-friendly, biodegradable, readily rinsable,
  dilutable, and compatible with several
  formulations.
• Thus, growth of the global industrial cleaning
  sector is expected to fuel the demand for
  glycolic acid during the forecast period.
• Polyglycolic acid is used to manufacture drug
  delivery devices for small-molecule drugs,
  proteins, and macromolecules in commercial and
  research applications.
• It is also used in various tissue-engineering
  applications, as it possesses tunable mechanical
  properties, biodegradability, and
  biocompatibility. This factor is expected to
  drive the demand for polyglycolic acid globally
  in the near future.

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Increase in Use of Glycolic Acid in Cleaning
Agents

• In terms of application, cleaning agent was a
  rapidly expanding segment of the global glycolic
  acid market in 2018. The segment is expected to
  maintain its attractiveness during the forecast
  period, due to wide compatibility of cleaning
  agents with a range of ingredients such as
  surfactants, biocidal agents, corrosion
  inhibitors, fragrances, and dyes.
• Glycolic acid has low dissociation constant and
  molecular weight, which increases its efficiency
  on hard water scales and leads to low corrosion
  of household surfaces
• Glycolic acid is increasingly being used in
  cleaning and washing of various industrial
  equipment, due to its solubility and ease of
  handling.

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Prominent Companies in Global Market

• Shandong Xinhua Pharmaceutical Co. Ltd.
• Avid Organics
• Zhonglan Industry Co., Ltd.
• Water Chemical Co., Ltd
• Hebei Chengxin Co., Ltd.
• Hefei TNJ Chemical Industry Co. Ltd
• Saanvi Corp.

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