Glycolic acid market size maintains growth and industry prosperity is good

Glycolic acid, also known as glycolic acid and glycolic acid, is an organic compound with the chemical formula C2H4O3. It is a colorless and easily deliquescent crystal. It has the dual properties of alcohol and acid. It is soluble in organic solvents such as methanol and ethyl acetate. Slightly soluble in ether, insoluble in hydrocarbons.

The upstream of the glycolic acid industry chain is the supply of chemical raw materials such as formaldehyde, chloroacetic acid, and sodium hydroxide; the midstream is the production and manufacturing of products; the downstream is widely used in medicine, industrial cleaning, daily chemicals and other fields.

In the medical field, glycolic acid has a strong inhibitory effect on liver tumor cells and can be used to treat liver cancer and other diseases; in the industrial field, glycolic acid can be used to make adhesives, fiber dyes, petroleum demulsifiers and other products. At the same time, due to corrosion It has low toxicity and is easy to operate. It can be used as a cleaning agent to remove calcium carbonate scale and iron scale in equipment; in the field of daily chemicals, glycolic acid has good penetrability and reactivity, and can effectively penetrate skin pores and promote epidermal renewal. , can be used in the production of cosmetics.

According to the “China Glycolic Acid Industry Market In-depth Research and Development Trend Forecast Research Report 2023-2027” released by the Industrial Research Center, As my country’s aging process continues to accelerate, the number of elderly people continues to grow, the demand for medicine continues to increase, the national living standards continue to improve, the demand for cosmetics and skin care products continues to grow, and the scale of industrial production continues to expand. In recent years, the size of my country’s glycolic acid market has maintained Growth trend, industry development prospects are good. In 2017, my country’s glycolic acid market size was approximately 250 million yuan. In 2022, the market size will grow to approximately 410 million yuan, with a compound annual growth rate of more than 10% from 2017 to 2022.

There are various glycolic acid production processes, including chloroacetic acid hydrolysis, formaldehyde cyanidation, dimethyl oxalate hydrohydrolysis, formaldehyde hydrocarboxylation, ethylene glycol selective oxidation, bioglycerin catalytic oxidation, etc. Among them, the chloroacetic acid hydrolysis method has a simple process and relatively mature technology, but the production process is long, serious environmental pollution, high requirements for equipment, etc., and it is difficult to produce on a large scale; the dimethyl oxalate hydrogenation hydrolysis method has rich sources of raw materials and is harmful to the environment. It is relatively friendly and is expected to become the mainstream production process.

There are a small number of domestic acetate alcohol production enterprises, mainly including Hebei Chengxin Group Co., Ltd., Taixing Wotel Chemical Co., Ltd., Hebei Dahe Biotechnology Co., Ltd., and Xinji Taida Petrochemical Co., Ltd., among which Hebei Chengxin Group Co., Ltd. and Taixing Wotel Chemical Co., Ltd. Ter Chemical Co., Ltd. is a leading company in the industry, accounting for more than 60% of the domestic acetic acid alcohol market. In the future, as leading companies continue to advance in production technology and expand production scale, the concentration of the acetic acid alcohol industry is expected to further increase.

Industry analysts said that the current demand for glycolic acid in medicine, chemical industry and other fields has stabilized. However, as the environmental situation becomes increasingly severe and plastic restriction and ban policies continue to advance, glycolic acid, as an important raw material for degradable plastic polyglycolic acid, still has a broad consumer market and the industry is booming.