Glyoxylic Acid Market Analysis

Global Glyoxylic Acid Market Overview

Glyoxylic Acid Market Size was valued at USD 0.63 Billion in 2023. The glyoxylic acid industry is projected to grow from USD 0.66 Billion in 2024 to USD 0.952 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.60% during the forecast period (2024 - 2032). A growing younger consumer base has replaced older consumers' and high adolescent spending on elegance are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Glyoxylic Acid Market Trends

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  A growing number of younger consumers is driving the market growth

  
  

Since a few years ago, the personal care industry has played a major role in the growth of glyoxylic acid demand. In the personal care sector, glyoxylic acid is frequently used as a neutralizing agent. Shampoos, lotions, conditioners, and other products are a few examples of these application areas. L'Oréal predicts that the skincare market will expand on average by 7-8 percent annually through the forecast period. A growing younger consumer base has replaced older consumers' demand as the industry has shifted in that direction. Numerous smaller manufacturers have entered the market as a result of the boom in skincare products to benefit from the sector's ongoing success.

The market demand is anticipated to increase as a result of this scenario. Modernly, it is typically produced by nitric acid oxidizing glyoxal, but it was also once produced by oxidizing maleic acid methyl ester with ozone or by electro-step-downing oxalic acid. Nitric acid oxidation of glyoxylic acid is the preferred assembly method for most glyoxylic acid manufacturing companies. Glyoxylic acid is thought to hurt human health and, over time, to change the climate. Glyoxylic acid emits formaldehyde when heated to high temperatures, which can sometimes cause allergic reactions to the scalp. The vapor is also known to cause coughing, lightheadedness, and other respiratory problems.

Since a few years ago, the interest in glyoxylic acid has grown significantly in personal healthcare. The primary component of cosmetic products is glyoxylic acid, which is why. Specifically in the manufacturing of skincare and hair dye products. In personal care products, glyoxylic acid is typically used as a neutralizer. These products include Shampoos, lotions, conditioners, and various other items. According to L'Oréal, the skincare market is expected to grow between 8 and 10 percent annually from 2021 to 2031. According to age groups, there is a change in demand for products containing glyoxylic acid. Comparing the purchaser base aged 45 and over to the more recent purchaser base, the latter is registered. Small manufacturing companies have wandered into the commercial district due to the worldwide boom in skincare products to take advantage of the industry's ongoing success. So, this situation is anticipated to support market demand for the next few years. When compared to other chemical compounds used as fixing agents, glyoxylic acid has semi-lasting hair-fixing properties without damaging the hair or inducing rashes or irritation on the scalp. The market is changing due to using glyoxylic acid as a plating admixture. The plating solution for increased productivity is thought to be glyoxylic acid.

Gives customers access to a wide range of glyoxylic acid for various applications while taking their requests for explicit client customization into account. Due to their high boiling point, glyoxylic acids are used as a cleaning specialist in various end-user types of businesses. The market for glyoxylic acids has expanded significantly due to the massive use of these substances in distinct products. As a glyoxylic acid derivative, vanillin is typically used in chocolates and other sweets as a seasoning. Glyoxylic acids are also used to manufacture fungicides, insecticides, and herbicides. Changing lifestyles and high adolescent spending on elegance and beautifying products in developing nations like India and China are also accelerating the growth of the glyoxylic acid market at the moment. Thus, driving the glyoxylic acid market revenue.

Glyoxylic Acid Market Segment Insights

Glyoxylic Acid Derivative Insights

The  glyoxylic acid market segmentation, based on derivatives, includes allantoin, vanillin, p-hydroxyphenylglycine, dl-p-hydroxy phenylhydantoin, 2-hydroxyl-phosphine acetic acid, and others. The allantoin segment dominated the market, as allantoin's calming, moisturizing, and healing qualities make it a common ingredient in skincare products. As a keratolytic agent, it aids in softening and removing dead skin cells while promoting skin cell regeneration. Allantoin is frequently present in creams, lotions, ointments, and balms to treat dry, inflamed, or damaged skin, including eczema, psoriasis, and sunburn. The ability of allantoin to speed up the healing of wounds is well known. It enhances tissue repair, promotes the growth of new skin cells, and lessens inflammation. Cuts, burns, and other minor skin injuries can heal more quickly thanks to allantoin, a component of wound care products like gels, creams, and dressings.

Glyoxylic Acid Application Insights

Based on application, the glyoxylic acid market segmentation includes personal care & cosmetics ingredients, pharmaceutical, aromas, agrochemicals, and others. The personal care & cosmetics ingredients category generated the most income. A vital component of hair smoothing and straightening products is glyoxylic acid. It aids in severing and reforming the hair's disulfide bonds, enabling the hair's reshaping and straightening. "keratin treatment" or a "Brazilian blowout" are frequently used to describe this procedure. Glyoxylic acid is a substance present in shampoos, conditioners, and styling creams for hair that is used to smooth out the hair's appearance, reduce frizz, and make it easier to manage. Glyoxylic acid is used in some hair repair procedures due to its ability to penetrate the hair shaft. By attaching to the hair's protein structure and filling in any gaps or damaged areas, it can strengthen and repair hair that has been damaged.

Figure 1:  Glyoxylic Acid Market, by Application, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Glyoxylic Acid Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American glyoxylic acid market area will dominate this market; despite having slightly lower consumption than other regions; North America is a major player in this market because it is home to a concentration of middle-class consumers with strong purchasing power. Another factor is the high environmental and health consciousness level among consumers in this area. As a result, they are willing to pay a premium for products they are certain were made with natural materials and under environmentally friendly manufacturing practices.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2:  GLYOXYLIC ACID MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's glyoxylic acid market accounts for the second-largest market share due to the factor influencing the demand for individual consideration is the worldwide exponential population growth. Consumer interest in this product is also being boosted by the rapidly expanding use of agrochemicals in countries with expanding horticulture activities. Further, the German glyoxylic acid market held the largest market share, and the UK glyoxylic acid market was the fastest-growing market in the European region

The Asia-Pacific Glyoxylic Acid Market is expected to grow at the fastest CAGR from 2023 to 2032. escalating consumer demand for items like pharmaceuticals, agrochemicals, and products for personal care and cosmetics. Glyoxylic acid is primarily purchased by China in the Asia-Pacific region. One of the forecast region's fastest-growing segments is makeup and personal care products. Moreover, China’s glyoxylic acid market held the largest market share, and the Indian glyoxylic acid market was the fastest-growing market in the Asia-Pacific region.

Glyoxylic Acid Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the glyoxylic acid market grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the glyoxylic acid industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the  glyoxylic acid industry to benefit clients and increase the market sector. In recent years, the glyoxylic acid industry has offered some of the most significant advantages to medicine. Major players in the glyoxylic acid market, including Akema Fine Chemicals (Italy), Hubei Hongyuan Pharmaceutical Technology Co. Ltd (China), Stan Chemicals (China), WeylChem International Gmbh (China), Zhonglan Industry Co (China), Haihang Industry Co. Ltd (China), Zhonghua Chemical (China) and others, are attempting to increase market demand by investing in research and development operations.

Akema Fine Chemicals (Italy) Akema Fine Chemicals has produced raw materials for the cosmetic and pharmaceutical industries since 1973. Producing allantoin, its derivatives, and preservatives as a specialty. North-eastern Italy's Akema is an independent, family-run business with a strong distribution network. Five continents are covered by the network. Its factory in Italy, close to Rimini, is the sole source of all production activities. Keeping the production of its products in-house has always been a point of pride for Arkema. Akema has partnered with the top cosmetic and pharmaceutical companies over its 30 years of operation, a solid name for itself as a reputable, top-shelf allantoin producer worldwide. The production of an exclusive range of allantoin derivatives also provides a valuable group of ingredients for cosmetic formulators compounds that are useful for a particular use.

Zhonglan Industry Co. was founded in 1996 and focused primarily on producing and selling cosmetic raw materials. Export markets for the company's goods include North America, South America, Eastern Europe, Oceania, and Western Europe. The company has 700 employees, 55 professional technicians, and 100 office workers. It also boasts a team of professional talents working in chemical management, production, R&D, and trade. According to the requirements of I S O 9 0 0 1 and I S O 4 0 0 1, the company strictly monitors, controls, and manages all production-related activities. The factory has $4.06 million in imported environmental protection equipment from Germany, which ensures the business's long-term stable production. A 10,000-ton storage capacity and cutting-edge testing tools are available to guarantee a timely supply of goods while maintaining strict control over their quality.

Key Companies in the glyoxylic acid market include

• Akema Fine Chemicals (Italy)


• Hubei Hongyuan Pharmaceutical Technology Co. Ltd (China)


• Stan Chemicals (China)


• WeylChem International Gmbh (China)


• Zhonglan Industry Co (China)


• Haihang Industry Co. Ltd (China)


• Zhonghua Chemical (China)

Glyoxylic Acid Industry Developments

March 2022: Uses 50% glyoxylic acid raw material for the flavor's methyl and ethyl vanillin production. It is a synthetic intermediate in the pharmaceutical industry for compounds like acetophenone, amino acids, broad-spectrum antibiotics, and dl-p-hydroxyphenyl glycine. It is used in cosmetic hair care products, particularly straight hair products. Cosmetic-grade glyoxylic acid is used in hair cosmetics, and the color difference is hardly noticeable.

Glyoxylic Acid Market Segmentation

Glyoxylic Acid Type Outlook

• Allantoin


• Vanillin


• P-Hydroxyphenylglycine


• DL-P-Hydroxy Phenylhydantoin


• 2-Hydroxyl-Phosphine Acetic Acid


• Others

Glyoxylic Acid Applications Outlook

• Personal Care & Cosmetics Ingredients


• Pharmaceutical


• Aromas


• Agrochemicals


• Others

Glyoxylic Acid Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America