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Mandelic Acid Market Size
Global Mandelic Acid Market size exceeded USD 195 million in 2020 and is estimated to grow at a CAGR of 13.5% between 2021 and 2027. Rising product demand from pharmaceutical industry for drug synthesis and increasing product application in various industries to drive the industry growth during the forecast period.
The product is an alpha hydroxyl acid which is derived from bitter almonds and is widely used as precursor to various pharmaceutical drugs. The compound is water soluble and has larger molecular weight that sits on the skin surface and enhances its application as skin exfoliator without skin irritation. The product includes ingredients that solve specific skin issues thereby improving overall skin texture and appearance.
The product has wide demand from cosmetic industry owing to its ability to treat skin problems such as acne and hyperpigmentation which should drive the mandelic acid market share. Moreover, the product is used as essential raw material in dye and pigment manufacturing which drives its application in textile industry. Furthermore, it is used in production of fine chemicals which has application in various industries including electronic industry during manufacturing process.
| Report Attributes | Details |
|---|---|
| Base Year: | 2020 |
| Market Size in 2020: | 197.03 (USD) Million |
| Forecast Period: | 2021 to 2027 |
| Historical Data for: | 2016 to 2027 |
| No. of Pages: | 199 |
| Tables, Charts & Figures: | 248 |
| Segments covered: | Type, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Mandelic Acid Market Analysis
DL mandelic acid surpassed USD 90 million in 2020 and should witness significant gains in the projected period. DL mandelic acid is used in cosmetic products as preservative owing to its antibacterial property which enhances the shelf life of the product. the product is used in personal care products as preservative to prevent it from bacterial damage.
Furthermore, DL product type offers benefits of skin exfoliation which enhances its application in cosmetic industry. The product is used in chemical face peels and stimulates growth of new cells which should boost product demand for cosmetic manufacturing. Increasing consumer inclination towards wellness, hygiene and external beauty is anticipated to boost product demand in turn mandelic acid market growth.
Pharmaceutical application should surpass USD 255 million by 2027. The product is used in pharmaceutical industry as precursor during drug synthesis process. The product is also used in synthesis of active pharmaceutical ingredient used to supress cough and used in eye drops for pupil dilate which should boost the mandelic acid market.
Also, the product is used in production of urotropine mandelic acid which is used in treatment of urinary tract infection should stimulate product demand from pharmaceutical industry. Increasing drug sales and growing pharmaceutical industry is anticipated to the accelerating the mandelic acid market growth.
North America should witness gains over USD 125 million by the end of 2027 owing to the growing pharmaceutical industry in the region. The product is used in synthesis of various active pharmaceutical ingredients including anti-inflammatory and antibacterial drugs. Rising advancements in active pharmaceutical drug manufacturing along with extensive investments in pharmaceutical industry is expected to be strengthening the mandelic acid market growth.
Mandelic Acid Market Share
Mandelic acid industry is competitive and includes various market players such as
- Hanhong Group
- Evonik Industries AG
- BASF SE
- Sigma Aldrich
- Alfa Aesar
- Clearsynth
- Biosynth Carbosynth
- Santa Cruz Biotechnology
Companies are engaged in strategic merger and acquisitions to expand distribution network and production capacity.
Global mandelic acid market report includes in-depth coverage of the industry with estimates & forecast in terms of volume (Tons) and revenue in USD million from 2016 to 2027 for the following segments:
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By Type
- DL mandelic Acid
- L Mandelic Acid
- D Mandelic Acid
By Application
- Pharmaceutical
- API Synthesis
- Preservative
- Personal care & cosmetics
- Others (Textile & Dye Intermediate, Fine chemical reagent)
The above information has been provided for the following regions:
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Malaysia
- Latin America
- Brazil
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
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