Enjoy complimentary customisation on priority with our Enterprise License!
The glyoxylic acid market size is forecast to increase by USD 192.5 million at a CAGR of 4.49% between 2023 and 2028.
The glyoxylic acid industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The cosmetics and personal care segment is estimated to witness significant growth during the forecast period.
Glyoxylic acid, a significant component in personal care and cosmetics, is primarily utilized in chemical peels, anti-aging creams, lotions, and mask products. Its benefits extend to skin rejuvenation and moisturization. A smaller proportion is employed in hair care and nail care items. Beyond its application in beauty products, glyoxylic acid is also employed for treating scars, discoloration, and aging signs such as fine lines and wrinkles. This versatile compound acts as an exfoliant, pH adjuster, and skin conditioning agent in personal care and cosmetics, contributing to the market's expansion in this sector. The use of bio-based materials, such as glyoxylic acid, aligns with the growing trend towards sustainable production and the circular economy.
Companies are increasingly focusing on reducing their carbon footprint by adopting green technologies and bio-based intermediates in their manufacturing processes. Epoxy resins, another essential component, are being replaced with bio-based alternatives to minimize waste and improve production capacity. The demand for bio-based chemicals and bio-based products is driven by various factors, including environmental regulations, consumer preferences, and industry consolidation. Safety standards are stringently enforced to ensure the production of high-quality products, with quality control playing a crucial role in maintaining consistency and meeting customer expectations. Manufacturing facilities are being upgraded to incorporate advanced process optimization techniques and sustainable production methods.
Polyvinyl alcohol, a biodegradable polymer, is gaining popularity due to its eco-friendly nature and versatile applications. The competitive advantage of offering bio-based alternatives to traditional chemical products is a significant differentiator in the market. In the end-use industries, green chemistry and renewable resources are increasingly being adopted to minimize the environmental impact and improve production efficiency. Catalyst development and chemical synthesis are key areas of focus for companies to reduce their reliance on non-renewable resources and improve production capacity. Acetic acid and formic acid, widely used in various industries, are being replaced with their bio-based counterparts to reduce the carbon footprint and meet regulatory requirements.
In summary, the market for bio-based materials, chemicals, and products is evolving, driven by factors such as consumer preferences, environmental regulations, and technological advancements. Companies are focusing on sustainability, circular economy, and waste management to minimize their carbon footprint and offer competitive advantages. The use of glyoxylic acid in personal care and cosmetics is a prime example of this trend, with its benefits extending beyond skin care to include environmental sustainability.
Get a glance at the market report of share of various segments Request Free Sample
The Cosmetics and personal care segment was valued at USD 232.70 million in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 41% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market size of various regions, Request Free Sample
In the North American market, glyoxylic acid, a versatile organic compound, finds extensive application in various sectors, primarily in the personal care and cosmetics industry. The US is the major consumer of this compound due to its superior properties, which include moisturizing, skin conditioning, and antioxidant effects. The increasing consumption of personal care products and cosmetics, the rising demand for household cleaners, and the industrial applications of glyoxylic acid are driving its market growth. Moreover, the cost-effective nature and unique functional properties of glyoxylic acid, coupled with regulatory approvals from key agencies like the US Food and Drug Administration (FDA) and European Medicines Agency (EMA), are further bolstering the market's expansion.
Additionally, the growing export of cosmetics from North America is providing an impetus to the market. Beyond personal care and cosmetics, glyoxylic acid's applications extend to industries such as food additives, bio-based monomers, and epoxy resins. The circular economy and waste management sectors are also exploring the potential of glyoxylic acid in bio-based economy and green technologies. The development of catalysts, pricing strategies, and chemical synthesis techniques are crucial aspects of the market, ensuring sustainable production and adherence to safety standards. As the demand for bio-based materials, intermediates, and products continues to rise, glyoxylic acid's role in the value chain becomes increasingly significant.
Companies focusing on production capacity expansion, quality control, and supply chain optimization are gaining a competitive advantage in this evolving market landscape. Environmental regulations, such as those related to carbon footprint and sustainability, are also shaping the market dynamics. Acetic acid and formic acid, which are closely related to glyoxylic acid, are also experiencing similar trends and growth patterns. In summary, the North American the market is witnessing robust expansion, fueled by its applications in various industries, cost-effectiveness, and regulatory approvals. The market's growth is further supported by the increasing demand for bio-based materials, intermediates, and products, as well as the ongoing focus on sustainability and environmental regulations.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The glyoxylic acid market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the glyoxylic acid market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, glyoxylic acid market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Akema Srl - Glyoxylic acid 50H, a key ingredient in hair care formulations, contributes to the straightening and management of wavy and curly hair textures. This versatile compound enhances the overall appearance and feel of hair, ensuring smoothness and ease in styling. Its application in cosmetic products offers consumers a more manageable and sleek look, making it an essential component in the beauty industry.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Glyoxylic acid, a versatile organic compound derived from renewable resources, has been gaining significant attention in various industries due to its unique properties and potential applications. This bio-based intermediate plays a crucial role in the production of various bio-based monomers, polymers, and chemicals, making it an essential component in the bio-based economy. The reaction engineering involved in the production of glyoxylic acid is a critical factor in optimizing the process for maximum efficiency and yield. The use of green technologies, such as catalyst development and sustainable production methods, is essential to minimize the carbon footprint of the manufacturing process. These initiatives not only reduce the environmental impact but also provide a competitive advantage for companies in the industry.
The food additives sector is one of the primary end-use industries for glyoxylic acid. Its use as a bio-based intermediate in the synthesis of polyester resins and epoxy resins enhances the properties of these materials, making them suitable for various applications. The demand for bio-based materials in the production of food additives is driven by consumer preferences for natural and sustainable products. The distribution channels for glyoxylic acid are diverse, with various intermediates and end-products finding applications in various industries. Bio-based intermediates, such as glyoxylic acid, play a vital role in the circular economy by enabling the production of biodegradable polymers and other bio-based products.
These materials offer a sustainable alternative to traditional petroleum-based products, reducing waste and minimizing the environmental impact of production and disposal. The bio-based chemicals industry is experiencing consolidation, with companies focusing on increasing production capacity and optimizing processes to meet the growing demand for sustainable alternatives. Quality control and safety standards are essential in this industry, ensuring that products meet regulatory requirements and consumer expectations. The production of glyoxylic acid from renewable resources, such as biomass, offers a sustainable alternative to traditional production methods using oxalic acid. This shift towards renewable resources is driven by environmental regulations and the need to reduce the carbon footprint of the chemical industry.
The pricing strategies of companies in the market are influenced by various factors, including production costs, demand dynamics, and competitive pressures. Process optimization and supply chain management are essential for maintaining a competitive edge in the market. The organic chemistry of glyoxylic acid and its derivatives offers significant potential for the development of new applications and products. Research and development efforts in this area are focused on improving the efficiency and sustainability of production processes and expanding the range of applications for these bio-based materials. In conclusion, the market is dynamic and evolving, driven by various factors, including consumer preferences, regulatory requirements, and technological advancements.
The use of renewable resources, green technologies, and sustainable production methods is essential for reducing the carbon footprint of the industry and providing a competitive advantage. The potential applications of glyoxylic acid and its derivatives are diverse, making it an essential component in various industries, including food additives, bio-based materials, and bio-based intermediates.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
141 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 4.49% |
|
Market growth 2024-2028 |
USD 192.5 million |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
4.23 |
|
Key countries |
US, China, Germany, France, and Japan |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this glyoxylic acid market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
