Market Size of Glyoxylic Acid Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Glyoxylic Acid Market Analysis
The Glyoxylic Acid Market size is estimated at 207.58 kilotons in 2024, and is expected to reach 283.06 kilotons by 2029, growing at a CAGR of greater than 6% during the forecast period (2024-2029).
The COVID-19 outbreak caused nationwide lockdowns around the world, disruption in manufacturing activities and supply chains, and production halts, all of which had a negative impact on the market in 2020. Currently, the market has recovered from the pandemic. The market reached pre-pandemic levels in 2022 and is expected to grow steadily in the future.
- Glyoxylic Acid is widely used as a neutralizing agent in the personal care and cosmetic industry, which is expected to fuel market growth.
- On the flip side, environmental regulation regarding emission control and waste disposal challenges generated during the manufacturing of glyoxylic acid is anticipated to restrain the growth of the market over the forecast period.
- Further, the growing technological advancements concerning the use of glyoxylic acid in the pharmaceutical sector are likely to create lucrative growth opportunities for the global market in the future.
- The Asia-Pacific region dominated the market around the world, with countries like China, India, and Japan being the biggest consumers.
Glyoxylic Acid Industry Segmentation
Glyoxylic acid is also known as oxoacetic acid. It is an organic compound which is compound that is both an aldehyde and a carboxylic acid. It is a colorless solid that occurs naturally and has several useful industrial applications. Glyoxylic acid is used as a cleaning agent, as a neutralizing agent in the personal care sector, and among others.
The glyoxylic acid market is segmented by end-user industry and geography. By end-user industry, the market is segmented into personal care and cosmetics, pharmaceuticals, agrochemicals, flavor industry, and others (food and beverages, etc.). The report also covers the market size and forecasts for the market in 15 countries across the globe. For each segment, the market sizing and forecasts have been done on the basis of volume (tons).
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| Personal Care and Cosmetics | |
| Pharmaceuticals | |
| Agrochemicals | |
| Flavour Industry | |
| Others (Food and Beverage, etc.) |
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Glyoxylic Acid Market Size Summary
The glyoxylic acid market is poised for significant growth, driven by its extensive application as a neutralizing agent in the personal care and cosmetics industry. The market has rebounded from the disruptions caused by the COVID-19 pandemic, reaching pre-pandemic levels and is expected to continue its upward trajectory. The increasing demand for personal care products, particularly in the Asia-Pacific region, is a major factor contributing to this growth. Countries like China, India, and Japan are leading consumers, fueled by rising disposable incomes and a growing middle class. The global cosmetic industry's expansion, coupled with heightened consumer awareness about personal care benefits, is further propelling the market's expansion.
Despite the promising growth prospects, the market faces challenges from environmental regulations concerning emissions and waste disposal during glyoxylic acid production. However, technological advancements in its pharmaceutical applications present lucrative opportunities for market players. The Asia-Pacific region remains dominant, with significant demand from personal care, pharmaceuticals, and agrochemicals sectors. The region's robust healthcare industry, particularly in China, is also a key driver, supported by government initiatives to enhance healthcare infrastructure. The market is partially consolidated, with major players like Akema S.r.l. and Zhonglan Industry Co., Ltd. actively expanding their presence, particularly in Europe.
Glyoxylic Acid Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from Agrochemicals Sector
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1.1.2 Growing Applications from Personal Care and Cosmetic Industry
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Stringent Regulation Regarding Emission Control and Waste Disposal
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 End-user
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2.1.1 Personal Care and Cosmetics
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2.1.2 Pharmaceuticals
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2.1.3 Agrochemicals
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2.1.4 Flavour Industry
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2.1.5 Others (Food and Beverage, etc.)
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 Rest of Asia-Pacific
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2.2.2 North America
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2.2.2.1 United States
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2.2.2.2 Canada
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2.2.2.3 Mexico
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2.2.3 Europe
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2.2.3.1 Germany
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2.2.3.2 United Kingdom
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2.2.3.3 Italy
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2.2.3.4 France
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2.2.3.5 Rest of Europe
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle East and Africa
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2.2.5.1 Saudi Arabia
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2.2.5.2 South Africa
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2.2.5.3 Rest of Middle East and Africa
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Glyoxylic Acid Market Size FAQs
How big is the Glyoxylic Acid Market?
The Glyoxylic Acid Market size is expected to reach 207.58 kilotons in 2024 and grow at a CAGR of greater than 6% to reach 283.06 kilotons by 2029.
What is the current Glyoxylic Acid Market size?
In 2024, the Glyoxylic Acid Market size is expected to reach 207.58 kilotons.
