Glyoxylic Acid Market - Size, Share, and Forecast [2021-2031]
The Glyoxylic Acid Market is expected to register a CAGR of 6% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Form (Powder and Liquid). The report further presents analysis based on Application (Personal Care and Cosmetics, Pharmaceutical, Agrochemicals, and Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Glyoxylic Acid Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Glyoxylic Acid Market Segmentation
Form- Powder
- Liquid
- Personal Care and Cosmetics
- Pharmaceutical
- Agrochemicals
Strategic Insights
Glyoxylic Acid Market Growth Drivers- Rising Demand in Pharmaceutical Industry: Glyoxylic acid is crucial in the pharmaceutical industry as a building block for the synthesis of various active pharmaceutical ingredients (APIs). With the growing need for antibiotics, anti-cancer drugs, and other therapeutic agents, the demand for glyoxylic acid as an intermediate in drug formulations is increasing. The expansion of the global pharmaceutical sector directly contributes to the rising demand for glyoxylic acid.
- Growth in Agrochemical Production: Glyoxylic acid plays an important role in the production of herbicides, pesticides, and other agrochemicals. As global agricultural practices evolve to meet the increasing food demand, the need for effective and eco-friendly agrochemical products is driving the use of glyoxylic acid. The ongoing development of agricultural practices, particularly in emerging markets, is fueling market growth for glyoxylic acid in the agrochemical industry.
- Advances in Chemical Manufacturing: The chemical industry is experiencing significant growth, and glyoxylic acid is used as an intermediate in the synthesis of various chemicals such as flavoring agents, fragrances, and polymers. Its versatility and applications in diverse chemical manufacturing processes are driving market growth. The increased need for high-performance chemicals in multiple industries strengthens the demand for glyoxylic acid, supporting overall market expansion.
- Shift Toward Sustainable Production Methods: As the demand for eco-friendly and sustainable products rises, there is a trend towards adopting greener production processes for glyoxylic acid. Manufacturers are investing in bio-based methods, such as using renewable raw materials and optimizing energy-efficient production techniques, to align with environmental regulations and consumer preferences. This trend is expected to shape the future growth of the glyoxylic acid market.
- Integration in Green Chemistry Initiatives: The growing importance of green chemistry is driving innovation in the glyoxylic acid market. As industries seek safer, more sustainable alternatives to harmful chemicals, glyoxylic acid’s role in environmentally friendly chemical reactions and its use in sustainable manufacturing will increase. This trend supports the adoption of glyoxylic acid in green chemistry initiatives and drives market opportunities.
- Technological Innovations in Production Processes: Technological advancements in glyoxylic acid production, such as improvements in catalytic processes and higher yields, are expected to enhance the market. These innovations will reduce production costs, increase efficiency, and enable the development of high-quality products. Continued progress in glyoxylic acid production technology will support the market's growth in various applications, including pharmaceuticals, agrochemicals, and consumer goods.
- Expansion in Emerging Markets: Rapid industrialization and urbanization in emerging markets, especially in Asia-Pacific and Latin America, offer significant opportunities for the glyoxylic acid market. The growing demand for pharmaceuticals, agrochemicals, and consumer products in these regions creates untapped opportunities. Expanding distribution networks and local production facilities in these markets will help companies capture the rising demand for glyoxylic acid.
- Development of Advanced Agrochemical Formulations: The increasing need for sustainable and efficient agrochemicals presents an opportunity for glyoxylic acid in the production of next-generation herbicides and pesticides. Manufacturers can explore new formulations with enhanced performance and reduced environmental impact. This innovation in agrochemicals will drive glyoxylic acid's application and contribute to the market's growth in the agricultural sector.
- Growth in Specialty Chemical Applications: Glyoxylic acid’s use in specialty chemicals such as flavoring agents, fragrances, and polymers offers opportunities for market expansion. As consumer demand for high-quality, specialized chemical products increases, glyoxylic acid’s versatility in producing unique chemical compounds will drive its use across diverse industries, including food and beverage, cosmetics, and personal care. This presents a promising growth avenue for the market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Glyoxylic Acid Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Glyoxylic Acid Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Increasing Focus on Sustainable Production is expected to be the key market trends.
Based on geography, Asia Pacific held the largest share of the glyoxylic acid market.
Growth of Personal Care Industry is driving the market growth
Xinjiang Guolin New Materials Co., Ltd, Merck KGaA, Zhonglan Industry Co., Ltd are some of the key players operating in the glyoxylic acid market
Based on purity, Glycolic Acid 99%, is expected to witness the fastest growth during the forecast period
The Glyoxylic Acid Market is estimated to witness a CAGR of 6% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Glyoxylic Acid Market - By Form
1.3.2 Glyoxylic Acid Market - By Application
1.3.3 Glyoxylic Acid Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. GLYOXYLIC ACID MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. GLYOXYLIC ACID MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. GLYOXYLIC ACID MARKET - GLOBAL MARKET ANALYSIS
6.1. GLYOXYLIC ACID - GLOBAL MARKET OVERVIEW
6.2. GLYOXYLIC ACID - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. GLYOXYLIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - FORM
7.1. OVERVIEW
7.2. FORM MARKET FORECASTS AND ANALYSIS
7.3. POWDER
7.3.1. Overview
7.3.2. Powder Market Forecast and Analysis
7.4. LIQUID
7.4.1. Overview
7.4.2. Liquid Market Forecast and Analysis
8. GLYOXYLIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. PERSONAL CARE AND COSMETICS
8.3.1. Overview
8.3.2. Personal Care and Cosmetics Market Forecast and Analysis
8.4. PHARMACEUTICAL
8.4.1. Overview
8.4.2. Pharmaceutical Market Forecast and Analysis
8.5. AGROCHEMICALS
8.5.1. Overview
8.5.2. Agrochemicals Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. GLYOXYLIC ACID MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Glyoxylic Acid Market Overview
9.1.2 North America Glyoxylic Acid Market Forecasts and Analysis
9.1.3 North America Glyoxylic Acid Market Forecasts and Analysis - By Form
9.1.4 North America Glyoxylic Acid Market Forecasts and Analysis - By Application
9.1.5 North America Glyoxylic Acid Market Forecasts and Analysis - By Countries
9.1.5.1 United States Glyoxylic Acid Market
9.1.5.1.1 United States Glyoxylic Acid Market by Form
9.1.5.1.2 United States Glyoxylic Acid Market by Application
9.1.5.2 Canada Glyoxylic Acid Market
9.1.5.2.1 Canada Glyoxylic Acid Market by Form
9.1.5.2.2 Canada Glyoxylic Acid Market by Application
9.1.5.3 Mexico Glyoxylic Acid Market
9.1.5.3.1 Mexico Glyoxylic Acid Market by Form
9.1.5.3.2 Mexico Glyoxylic Acid Market by Application
9.2. EUROPE
9.2.1 Europe Glyoxylic Acid Market Overview
9.2.2 Europe Glyoxylic Acid Market Forecasts and Analysis
9.2.3 Europe Glyoxylic Acid Market Forecasts and Analysis - By Form
9.2.4 Europe Glyoxylic Acid Market Forecasts and Analysis - By Application
9.2.5 Europe Glyoxylic Acid Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Glyoxylic Acid Market
9.2.5.1.1 Germany Glyoxylic Acid Market by Form
9.2.5.1.2 Germany Glyoxylic Acid Market by Application
9.2.5.2 France Glyoxylic Acid Market
9.2.5.2.1 France Glyoxylic Acid Market by Form
9.2.5.2.2 France Glyoxylic Acid Market by Application
9.2.5.3 Italy Glyoxylic Acid Market
9.2.5.3.1 Italy Glyoxylic Acid Market by Form
9.2.5.3.2 Italy Glyoxylic Acid Market by Application
9.2.5.4 United Kingdom Glyoxylic Acid Market
9.2.5.4.1 United Kingdom Glyoxylic Acid Market by Form
9.2.5.4.2 United Kingdom Glyoxylic Acid Market by Application
9.2.5.5 Russia Glyoxylic Acid Market
9.2.5.5.1 Russia Glyoxylic Acid Market by Form
9.2.5.5.2 Russia Glyoxylic Acid Market by Application
9.2.5.6 Rest of Europe Glyoxylic Acid Market
9.2.5.6.1 Rest of Europe Glyoxylic Acid Market by Form
9.2.5.6.2 Rest of Europe Glyoxylic Acid Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Glyoxylic Acid Market Overview
9.3.2 Asia-Pacific Glyoxylic Acid Market Forecasts and Analysis
9.3.3 Asia-Pacific Glyoxylic Acid Market Forecasts and Analysis - By Form
9.3.4 Asia-Pacific Glyoxylic Acid Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Glyoxylic Acid Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Glyoxylic Acid Market
9.3.5.1.1 Australia Glyoxylic Acid Market by Form
9.3.5.1.2 Australia Glyoxylic Acid Market by Application
9.3.5.2 China Glyoxylic Acid Market
9.3.5.2.1 China Glyoxylic Acid Market by Form
9.3.5.2.2 China Glyoxylic Acid Market by Application
9.3.5.3 India Glyoxylic Acid Market
9.3.5.3.1 India Glyoxylic Acid Market by Form
9.3.5.3.2 India Glyoxylic Acid Market by Application
9.3.5.4 Japan Glyoxylic Acid Market
9.3.5.4.1 Japan Glyoxylic Acid Market by Form
9.3.5.4.2 Japan Glyoxylic Acid Market by Application
9.3.5.5 South Korea Glyoxylic Acid Market
9.3.5.5.1 South Korea Glyoxylic Acid Market by Form
9.3.5.5.2 South Korea Glyoxylic Acid Market by Application
9.3.5.6 Rest of Asia-Pacific Glyoxylic Acid Market
9.3.5.6.1 Rest of Asia-Pacific Glyoxylic Acid Market by Form
9.3.5.6.2 Rest of Asia-Pacific Glyoxylic Acid Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Glyoxylic Acid Market Overview
9.4.2 Middle East and Africa Glyoxylic Acid Market Forecasts and Analysis
9.4.3 Middle East and Africa Glyoxylic Acid Market Forecasts and Analysis - By Form
9.4.4 Middle East and Africa Glyoxylic Acid Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Glyoxylic Acid Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Glyoxylic Acid Market
9.4.5.1.1 South Africa Glyoxylic Acid Market by Form
9.4.5.1.2 South Africa Glyoxylic Acid Market by Application
9.4.5.2 Saudi Arabia Glyoxylic Acid Market
9.4.5.2.1 Saudi Arabia Glyoxylic Acid Market by Form
9.4.5.2.2 Saudi Arabia Glyoxylic Acid Market by Application
9.4.5.3 U.A.E Glyoxylic Acid Market
9.4.5.3.1 U.A.E Glyoxylic Acid Market by Form
9.4.5.3.2 U.A.E Glyoxylic Acid Market by Application
9.4.5.4 Rest of Middle East and Africa Glyoxylic Acid Market
9.4.5.4.1 Rest of Middle East and Africa Glyoxylic Acid Market by Form
9.4.5.4.2 Rest of Middle East and Africa Glyoxylic Acid Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Glyoxylic Acid Market Overview
9.5.2 South and Central America Glyoxylic Acid Market Forecasts and Analysis
9.5.3 South and Central America Glyoxylic Acid Market Forecasts and Analysis - By Form
9.5.4 South and Central America Glyoxylic Acid Market Forecasts and Analysis - By Application
9.5.5 South and Central America Glyoxylic Acid Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Glyoxylic Acid Market
9.5.5.1.1 Brazil Glyoxylic Acid Market by Form
9.5.5.1.2 Brazil Glyoxylic Acid Market by Application
9.5.5.2 Argentina Glyoxylic Acid Market
9.5.5.2.1 Argentina Glyoxylic Acid Market by Form
9.5.5.2.2 Argentina Glyoxylic Acid Market by Application
9.5.5.3 Rest of South and Central America Glyoxylic Acid Market
9.5.5.3.1 Rest of South and Central America Glyoxylic Acid Market by Form
9.5.5.3.2 Rest of South and Central America Glyoxylic Acid Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. GLYOXYLIC ACID MARKET, KEY COMPANY PROFILES
11.1. XINJIANG GUOLIN NEW MATERIALS CO., LTD
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. THE CHEMOURS COMPANY
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. MERCK KGAA
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. ZHONGLAN INDUSTRY CO., LTD.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. AKEMA S.R.L.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. THERMO FISHER SCIENTIFIC
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. TCI CHEMICALS PVT. LTD.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. CHINA PETROCHEMICAL CORPORATION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. STAN CHEMICAL CO., LTD
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. HUBEI HONGYUAN PHARMACEUTICAL TECHNOLOGY CO., LTD
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.Xinjiang Guolin New Materials Co., Ltd
2.The Chemours Company
3.Merck KGaA
4.Zhonglan Industry Co., Ltd.
5.Akema S.r.l.
6.Thermo Fisher Scientific
7.TCI Chemicals Pvt. Ltd.
8.China Petrochemical Corporation
9.STAN Chemical Co., Ltd
10.Hubei Hongyuan Pharmaceutical Technology Co., Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.