Glycolic Acid Market Size Worth $820.3 Mn Forecast [2020-2027]; Increasing Application of C2H4O3 in Industries to Strengthen Market, sates Fortune Business Insights™
Pune, Oct. 08, 2020 (GLOBE NEWSWIRE) — The global glycolic acid market size is expected to reach $820.3 Mn by 2027, exhibiting a CAGR of 7.3% during the forecast period. The growing utilization of glycolic in the production of plastics and adhesives will enable speedy expansion of the market, states Fortune Business Insights, in a report, titled “Glycolic Acid Market Size, Share & COVID-19 Impact Analysis, By Purity (Glycolic Acid 99%, Glycolic Acid 70%, Glycolic Acid 30%, and Others), By Application (Personal Care & Cosmetics, Household, Textile, Food Processing, Pharmaceutical, and Others), and Geography Forecast, 2020-2027.” The market size stood at $468.2 Mn in 2019.
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The report on the glycolic acid market contains:
- All-encompassing report of the market
- Vital insights into the industry
- Latest market trends and drivers
- Information about the flourishing regions
- Impact of coronavirus on the global market
Rising Demand for High-end Cosmetic Products to Bolster Growth
The escalating cosmetic industry will spur opportunities for the market in the forthcoming years. The increasing application of C2H4O3 in skincare products such as creams, face masks, and peels will boost the healthy growth of the market during the forecast period. The increasing consumer awareness along with rising per capita income will simultaneously incite the demand for cosmetics, in turn, aiding the development of the market. The utilization of C2H4O3 in the cosmetic industry due to its superior benefits such as removal of dark spots, irregular pigmentation, anti-aging, …