Analysis on New Product Launches in COVID-19 Related Markets-Glycolic Acid Market 2020-2024| Demand from Polyglycolic Acid Industry to Boost Market Growth | Technavio

Technavio has announced its latest market research report titled Global Glycolic Acid Market 2020-2024 (Graphic: Business Wire)

LONDON--()--The glycolic acid market is expected to grow by USD 194.72 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report

Polyglycolic acid is widely used in various applications such as medical, packaging, shale gas extraction, civil engineering resins, agriculture, and filters. Glycolic acid is the key raw material used to produce polyglycolic acid through polycondensation or ring-opening polymerization. Factors such as the rising demand from the packaging industry, use in shale gas extraction, and growing demand from emerging economies such as China and India have significantly increased the consumption of polyglycolic acid. This, in turn, is driving the growth of the global glycolic acid market.

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43047

As per Technavio, the development of new applications to manufacture shampoo for cosmetics will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Glycolic Acid Market: Developments of New Applications to Manufacture Shampoo for Cosmetics

Vendors in the market are increasing their R&D efforts to explore new application areas for glycolic acid. The formulation of shampoo for companion animals such as dogs, cats, and horses is one such application. The use of glycolic acid in pet shampoos helps moisturize the skin, restore dry and damaged skin cells, reduce scales and crusts, and relieve itching and irritation of the skin. Globally, the pet grooming market is growing at a significant rate due to several factors such as high pet adoption rate, rise in animal health expenditure, and a shift in preference toward premium pet-care products. These factors are expected to boost the growth of the global glycolic acid market during the forecast period.

“Growing demand for blended products and peels and increasing investments in the industrial sector across APAC and North America will further boost market growth during the forecast period”, says a senior analyst at Technavio.

Register for a free trial today and gain instant access to 17,000+ market research reports

Technavio's SUBSCRIPTION platform

Glycolic Acid Market: Segmentation Analysis

This market research report segments the glycolic acid market by application (personal care and cosmetics, household cleaner, industrial, and others) and geographic landscape (APAC, Europe, MEA, North America, and South America).

The North America region led the glycolic acid market in 2019, followed by Europe, APAC, South America, and MEA respectively. However, during the forecast period, Europe is expected to register the highest incremental growth due to the increasing demand for personal care products and cosmetics in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The glycolic acid market size has the potential to grow by USD 194.72 million during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/