Hydroxycarboxylic Acids Market Size, Share & Industry Analysis, By Type (0.98, 0.98), By End-Use (Detergents, Water Treatment, Personal Care, Pulp Paper, Food Beverages, Others) and Regional Forecast, 2024-2032

Hydroxy carboxylic acids are class of chemical compounds that consists of carboxylic acid substituted with a hydroxyl group on one of the adjacent carbons. These acids occur naturally and can also be synthesized. These acids are mostly used in the cosmetics and personal care products. These acids are used for chemical peeling, cosmeceutical surgeries.

Rising demand from personal care and cosmetics industries for different types of hydroxycarboxylic acid like alpha hydroxycarboxylic that is used in skin products which help in skin lightening, wrinkle reduction, and anti- aging is expected to drive the market. Additionally, these acids are used as building blocks in organic synthesis. These trends are expected to boost the demand for hydroxycarboxylic acids.

However, growth of the hydroxycarboxylic acids market is expected to limit due to side effects like skin irritation, mild flaking, and redness.

Market Segmentation:

Based on type, the market is segmented into 0.98 and 0.98. Based on end-use, the market is segmented into detergent, water treatment, personal care, pulp and paper food and beverages.

From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:

The global hydroxycarboxylic acids market consists of global & regional players operating. Some of the key players in the market include BASF, Fuyang Biotech, Dongxiao Biotech, Huntsman, ADM, DowDuPont, AkzoNobel, and Others.

Key Insights

• New Advancements in Production Technologies


• Key Trends in the Hydroxycarboxylic Acids Market


• New Product Launches, Expansions, Key Players


• Ranking of Key Players in the Market

Regional Analysis:

The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is anticipated to be the largest market attributed the large number of manufacturers present in the region. North America is estimated to be the second largest market attributed to the increasing demand from personal care industry. Europe is expected to show considerable growth due to the increased consumer spending on cosmetics and skincare products. Latin America and Middle East and Africa are expected to show considerable growth by the end of the forecast period.

Segmentation

Hydroxycarboxylic Acids Industry Developments

• In July 2019, BASF increased the global production of the higher carboxylic acids (HCA), Isononanoic acid (INA), and 2- ethylhexanoic acid (2-EHA) from 55,000 metric tons to 68,000 metric tons.