Data Bridge Market Research analyses that the mandelic acid market will witness a CAGR of 15.10% for the forecast period of 2021-2028. Growth in the demand for mandelic acid especially in the developing economies like India and China, growing use of mandelic acid by a wide range of end user verticals such as chemical and petrochemical, cosmetics, food and beverages, healthcare and other end user industries, and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the mandelic acid market. Therefore, the mandelic acid market value, which was USD 200 million in 2020, would stand tall by USD 616.07 million by 2028.
Mandelic acid is a white crystalline solid that belongs to the group of alpha hydroxy acid. Mandelic acid is an aromatic compound that is extracted from bitter almonds and exhibits various medicinal properties and therefore is used as a drug and antimicrobial. Mandelic acid improves the appearance and overall skin texture.
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The major players covered in the mandelic acid market report are Evonik Industries AG, BASF SE, Hanhong Scientific, Merck KGaA, Alfa Aesar, Thermo Fisher Scientific Inc., CLEARSYNTH, Biosynth Carbosynth., Runder Pharmda Technology Co., Ltd., BIOTEC, Xinhai Technology Group CO., LTD., SMART Chemical Solutions., R. L. Chemical Industries., Hefei TNJ Chemical Industry Co., Ltd., Jiangxi Keyuan Biopharm Co., Ltd., TAIZHOU SHENGYU CHEMICAL CO.,LTD and Santa Cruz Biotechnology, Inc. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
The mandelic acid market is segmented on the basis of type, application and end user industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of type, the global mandelic acid market is segmented into DL mandelic acid, L mandelic acid and D mandelic acid.
- On the basis of application, the mandelic acid market is segmented into pharmaceutical, personal care and cosmetics and others. Pharmaceutical segment is sub-segmented into API synthesis and preservatives.
- On the basis of end user industry, the mandelic acid market is segmented into chemical and petrochemical, cosmetics, food and beverages, healthcare and other end user industries.
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Mandelic Acid Market Regional Analysis/Insights
The Mandelic Acid market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.
The countries covered in the Mandelic Acid market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high demand for fiber cement Mandelic Acid within the region. Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the prominent presence of fiber cement Mandelic Acid market players within the region. Moreover, the high requirement for the residential and commercial building construction also boosts the regional demand.
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