LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global glycolic acid market report. This research report also lists nine other prominent vendors that are expected to impact the market during the forecast period.
Glycolic acid is used in various industries, such as personal care and cosmetics; household applications; such as hard surface cleaners, laundry sours; industrial uses such as concrete removal, oil and petrol refining, dairy and food equipment cleaner, industrial chemical manufacturing, and metal cleaning and finishing; and others such as emulsion polymers, polyglycolic acid, and additives for inks and paints. The demand from various applications has led to a significant growth of the glycolic acid market globally.
Competitive vendor landscape
Major growth is from North America, followed by Europe and APAC. The developing economies like China and India are the potential markets. Developing economies will be experiencing significant growth in the cosmetics and household cleaners market. Large investments are pouring in to increase production capacities and set up manufacturing units, which are estimated to cater to the growing demand in developing economies during the forecast period.
“Major vendors have extended their reach in many regions to increase their market shares. Domestic vendors are providing strong competition to the international vendors with minimal product differentiation for a share in the glycolic acid market. Meanwhile, international vendors differentiate their products in terms of features, price, service, and performance to gain a competitive edge over other vendors. Vendors are focused on many end-users rather on applications,” says Mohd Shakeel Iqbal, a lead specialty chemicals research analyst from Technavio.
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Top five glycolic acid market vendors
CrossChem LP is engaged in manufacturing products in versatile high purity chemicals. Its wide range of products serves major industries, such as personal care, aerospace, pharmaceutical, medical products, electronic materials, oilfield chemical, and other purity sensitive. Its major products include ethylene cyanohydrin, glycolic acid, sodium glycolate, monosodium cyanurate and phenyl acetate.
Phibro Animal Health Corporation
Phibro Animal Health Corporation is engaged in manufacturing products for food animals, including poultry, swine, beef and dairy cattle, and aquaculture. The business is segmented into animal health, mineral nutrition, and performance products. The wide range of products serves diversified industries, such as animal husbandry, mineral nutrition, paint, coating, metal finishing, personal care, industrial chemical, and catalyst, and has customers in 60 countries.
SimcoQC is engaged in manufacturing products in chemicals. Its wide range of products serves major industries such as food, solvents, chemicals, cleaning, soaps, automotive, print, paint, and water treatment.
The Chemours Company
The Chemours Company is engaged in manufacturing products in performance chemicals. The business is segmented into titanium technologies, fluoro products, and chemical solutions. The company serves diversified industries such as refrigeration, air conditioning, gold production, and diversified industrial applications.
Zhonglan Industry Co
Zhonglan Industry is engaged in manufacturing chemicals products. It is known for its purchase control system. A wide range of products serve major industries, such as food and beverages, chemicals, cosmetics, personal care, water treatment, household applications, metal cleaning and finishing, laundry, industrial water and boiler system cleaners, and pharmaceutical.
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