Glyoxylic Acid Market - Forecast(2021 - 2026)

Report Code: CMR 87749 Report Format: PDF + Excel (Delivery in 48 Hrs)
Glyoxylic acid market size is forecast to reach around $1.20 billion by 2025, after growing at a CAGR of 6% during 2020-2025. Glyoxylic acid is a highly reactive organic compound containing both aldehyde and carboxylic acid functional groups. Wide applications of glyoxylic acids in various end use industries like pharmaceuticals, food, personal care, and cosmetics is augmenting Glyoxylic acid market share. Surging demand of glyoxylic acid from agrochemical industry to produce pesticides is also boosting the growth of market. Moreover, rising environmental concerns and harmful effect of glyoxylic acid on human is restraining the growth of Glyoxylic acid market size.

Report Coverage
The report: “Glyoxylic Acid Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the glyoxylic acid industry.

By Type: Glyoxylic Acid 50% and Glyoxylic Acid 40%
By Derivative: Vanillin, Allantoin, p-Hydroxyphenylglycine, 2-Hydroxyquinoxaline, and others
By Application: Agrochemicals, Aromas, Pharmaceuticals, Personal care & Cosmetics, and Others
By Geography: North America, South America, Europe, APAC, and RoW

Key Takeaways
  • China has shown major growth in the glyoxylic acid market due to the availability of skilled labor, and large demand of glyoxylic acid from food & beverages, agrochemicals, and pharmaceuticals industry.
  • Properties such has solubility in water & alcohol, high reactivity and insolubility in organic solvents increases its use in various products and acts as a driving factor for the growth of market.
  • Disruption of supply chain and shortage of employees in manufacturing industries due to the coronavirus has affected the growth of glyoxylic acid market.

By Type - Segment Analysis
Based on type, glyoxylic acid with 50% solution in water has shown higher CAGR of around 7% growth in glyoxylic acid market during the forecast period. Glyoxylic acids are highly reactive chemicals, thus supplied as 50% solution with water. They act as an important component for many organic compounds which are used in industries for production. Moreover, glyoxylic acids are used as an alternative reducing agent for electro less copper plating.

By Derivative - Segment Analysis
Allantoin segment has shown highest CAGR of around 6.7% growth in glyoxylic acids market during the forecast period. Allantoin are used as keratolytic agents in skin care products, as they moisturize the skin and helps in treating dry, itchy, rough and skin irritations. Allantoin segment is followed by vanillin which finds wide applications in aromas and food industry. Vanillin are used in deodorants to mask unpleasant odor and in medicines for taste. They also enhance the flavor of food & beverages and are used in cleaning agents, soaps and toothpaste.

By Application - Segment Analysis
Personal care and cosmetics segment followed by aroma segment held the largest share of more than 25% of glyoxylic acids market in 2019. Glyoxylic acids are the key raw material for different aromas such as vanillin, ethyl vanillin and heliotropin. They are also used as an intermediate for synthesis of pharmaceuticals products like D, L-p-hydroxyphenylglycine D, L-p-hydroxyphenylhydantoin, orotic aid, sulindac and mandelic acid which further boosts the growth of glyoxylic acid market.

COVID-19 proved to be a challenging factor for the glyoxylic acid market. The outbreak of coronavirus have postponed deliveries of glyoxylic acid and other equipment from yards, due to shortages of staff or supplies, as well as travel bans. Industries are shuttered all around the world. Decrease in purchasing capital of people has impacted the personal care & cosmetics, which in turn lowered the demand of glyoxylic acid and hampered the growth market. However, pharmaceuticals industry is booming in this pandemic situation which may boosts the growth of glyoxylic acid market. 

Geography - Segment Analysis
Asia pacific dominated the glyoxylic acid market with a share of more than 35% in 2019 followed by North America and Europe. Heavy spending and expansion of end use industries such as pharmaceuticals, food and beverages, cosmetics, pesticides have fueled the growth of glyoxylic acid market in these regions. According to Indian Brand Equity Foundation, Indian pharmaceutical sector is expected to grow to US$ 100 billion and medical device market expected to grow US$ 25 billion by 2025. Furthermore, rising population coupled with increase in disposal incomes and standard of living has also enhanced the growth of market. Among all, China has shown significant growth in glyoxylic acids market due to their rapid expansion of agrochemicals, pharmaceuticals, and cosmetics industry. According to trade map, 15,224 tons of vanillin were exported in 2018 worldwide and China itself has exported 11,201 tons of vanillin, thus boosting the glyoxylic acids market.

Drivers – Glyoxylic acid market

  • Growing demands from various end use industries
Glyoxylic acids have low melting & high boiling point and used as a cleaning agent in various end use industries. Increase in use of glyoxylic acids in various products has propelled the growth of glyoxylic acids market. Vanillin which is a derivative of glyoxylic acids are widely used as flavoring agent in chocolates and desserts. Additionally, glyoxylic acids are used for the synthesis of herbicides, insecticides, and fungicides. Changing lifestyle and high spending of youths on beauty & cosmetics in emerging nations like India and China is also augmenting the growth of glyoxylic acid market. 

Challenges – Glyoxylic acid market

  • Adverse effect on human health
Excessive use of glyoxylic acid has adverse effect on human health as well as environment. When heated to high temperatures, glyoxylic acid releases formaldehyde, that changes the color of hair, irritate the scalp, and fumes cause coughing, dizziness, and other respiratory problems. Also, high levels of glyoxylate damages the kidney and develops hyperoxaluria which further results in kidney stone. Thus, excessive use of glyoxylic acid has adverse effect and acts as a restraining factor for the growth of glyoxylic acid market.

Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the glyoxylic acid market report. In 2019, the market of glyoxylic top 10 companies players accounting for xx% of the glyoxylic acid market share. Major companies of glyoxylic acid market are Akema, Weylchem, Hubei Hongyuan, Zhonglan Industry, Zhonghua Chemical, Yuandong Chem, Hubei Shunhui Bio-Technology, Guangdong Hongyuan New Material, Yongfei Chem, Shijiazhuang Haosheng Chemical among others.

Acquisition / Developments
  • In August 2018, WeylChem was signed an agreement with VMP Chemiekontor, resulting in distribution of WeylCare Allantoin as well as WeylCare ATBS and WeylCare PB in Germany, Austria and Switzerland.
  • In July 2018, Solvay launched Rhovanil US NAT, an alternative to their existing synthetic rhovanil to meet the natural vanillin demand in US market.
  • In May 2017, PROVA Inc., launched natural PROVANIL-US7, an alternative to natural vanillin for high-fat and products undergoing high baking temperatures.

1. Glyoxylic Acid Market - Market Overview
    1.1 Definitions and Scope
2. Glyoxylic Acid Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key Trends by Type
    2.3 Key Trends by Derivative
    2.4 Key Trends by Application
    2.5 Key Trends by Geography
3. Glyoxylic Acid Market - Landscape
    3.1 Comparative analysis 
        3.1.1 Market Share Analysis- Top Companies
        3.1.2 Product Benchmarking- Top Companies
        3.1.3 Top 5 Financials Analysis
        3.1.4 Patent Analysis- Top Companies
        3.1.5 Pricing Analysis
4. Glyoxylic Acid Market - Startup companies Scenario Premium (Premium)
    4.1 Top startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Market Shares
        4.1.4 Market Size and Application Analysis
        4.1.5 Venture Capital and Funding Scenario
5. Glyoxylic Acid Market – Industry Market Entry Scenario Premium (Premium) 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case studies of successful ventures
    5.4 Customer Analysis - Top companies
6. Glyoxylic Acid Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Market Opportunities
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining powers of customers
        6.4.3 Threat of new entrants
        6.4.4 Rivalry among existing players
        6.4.5 Threat of substitutes 
7. Glyoxylic Acid Market -Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Market life cycle
    7.4 Suppliers and distributors Analysis
8. Glyoxylic Acid Market – By Type (Market Size -$Million, KT)
    8.1 Glyoxylic acid 50%
    8.2 Glyoxylic acid 40%
9. Glyoxylic Acid Market – By Derivative (Market Size -$Million, KT)
    9.1 Vanillin
    9.2 Allantoin
    9.3 p-Hydroxyphenylglycine
    9.4 2-Hydroxyquinoxaline
    9.5 Others
10. Glyoxylic Acid Market – By Application (Market Size -$Million, KT)
    10.1 Agrochemicals
    10.2 Aromas
    10.3 Pharmaceuticals
    10.4 Personal care & Cosmetics
    10.5 Others 
11. Glyoxylic Acid Market - By Geography (Market Size -$Million / KT)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Canada
        11.1.3 Mexico
    11.2 South America
        11.2.1 Brazil
        11.2.2 Argentina
        11.2.3 Colombia
        11.2.4 Chile
        11.2.5 Rest of South America
    11.3 Europe
        11.3.1 U.K
        11.3.2 Germany
        11.3.3 Italy
        11.3.4 France
        11.3.5 Russia
        11.3.6 Netherland
        11.3.7 Belgium
        11.3.8 Spain
        11.3.9 Rest of Europe
    11.4 Asia Pacific
        11.4.1 China
        11.4.2 India
        11.4.3 Japan
        11.4.4 South Korea
        11.4.5 Australia & New Zealand
        11.4.6 Rest of Asia Pacific
    11.5 RoW
        11.5.1 Middle East
   of Middle East
        11.5.2 Africa
   of Africa
12. Glyoxylic Acid Market - Entropy
    12.1 New Product Launches
    12.2 M&A’s, Collaborations, JVs and Partnerships
13. Glyoxylic Acid Market Share Analysis (Premium)
    13.1 Market Share by Country- Top companies
    13.2 Market Share by Region- Top companies
    13.3 Market Share by type of Product / Product category- Top companies
    13.4 Market Share at global level- Top companies
    13.5 Best Practices for companies
14. Glyoxylic Acid Market - List of Key Companies by Country (Premium) 
15. Glyoxylic Acid Market Company Analysis
    15.1 Market Share, Company Revenue, Products, M&A, Developments
    15.2 Company 1
    15.3 Company 2
    15.4 Company 3
    15.5 Company 4
    15.6 Company 5
    15.7 Company 6
    15.8 Company 7
    15.9 Company 8
    15.10 Company 9
    15.11 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

List of Tables

1 US Glyoxylic Acid Market Size 2018
2 Canada Glyoxylic Acid Market Share 2018
3 Brazil Glyoxylic Acid Market Outlook 2019 - 2023
4 Mexico Glyoxylic Acid Market Research 2018
5 Germany Glyoxylic Acid Market Trends 2019 - 2023 
6 France Glyoxylic Acid Market Growth 2019 - 2023 
7 UK Glyoxylic Acid Market Demand 2019 - 2023 
8 Italy Glyoxylic Acid Market Segmentation 2018
9 Russia Glyoxylic Acid Market Analysis 2019 - 2023
10 China Glyoxylic Acid Market Revenue 2019 - 2023
11 Japan Glyoxylic Acid Market Volume 2019 - 2023
12 South Korea Glyoxylic Acid Market Potential 2019 - 2023
13 India Glyoxylic Acid Market Leaders 2018
14 Saudi Arabia Glyoxylic Acid Market Forecast 2019 - 2023 
15 Kuwait Glyoxylic Acid Market Value 2018

List of Figures

For complete list of 60+ tables and 60+ figures follow the Link