Ethyl ascorbic acid is a derivative of vitamin C.It exhibits properties which are excellent for skin brightening activity. The chemical structure of ethyl ascorbic is unique, in the chemical structure, the ethyl group forms an ether with the 3-hydroxy group of the ascorbic acid, resulting in much higher stability. Whereas other commercialized ascorbic acid derivatives are ethers at the 2-hydroxy position. Ethyl ascorbic acid acts as a potent inhibitor of melanogenesis. Owing to properties of ethyl ascorbic acid it is mostly incorporated into cosmetic products. And over the forecast period, it is anticipated that ethyl ascorbic market is expected to register a healthy CAGR.
The growth of the global ethyl ascorbic acid market is driven by growing the cosmetic industry and pharmaceuticals industry. The macroeconomic factor responsible for the growth of the global ethyl ascorbic acid market is the rapid rate of urbanization, rising disposable income, and changing the lifestyle of consumers. With the rise in literacy level and awareness consumers now look for a product which can meet their required demands. The key factor restraining the global ethyl ascorbic acid market is an adverse effect of ethyl ascorbic acids such as loosening, peeling, and blistering of the skin, joint, muscle, and bone pain. The company providing the ethyl ascorbic acid have significantly high opportunity in regions such as Asia-Pacific, MEA, etc. owing to the significant demand for ethyl ascorbic acid with rising demand for skin whitening products. The ethyl ascorbic acid market also has a significant opportunity in Latin America and the Middle East and Africa region as these are the emerging market, attributed to rising disposable income of consumers in this region.
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The global ethyl ascorbic acid market is segmented by application, end user, and region. By application global ethyl ascorbic acid market is segmented as chemicals, medical formulations, cosmetics. The chemical segment is further segmented as chemical industry, fertilizers, and metallurgy. The detergent segment is further segmented as metal and non-metal depending on the application. Among the application segment, chemicals contribute to the significant revenue share over the forecast period in the global ethyl ascorbic acid market, owing to increasing demand for ethyl ascorbic acid in various segments of the chemical industry. By end-user, the global ethyl ascorbic acid market is segmented as the pharmaceutical industry, dyeing industry, cosmetic industry, chemical industry, and others; wherein the pharmaceutical segment is growing at a significant CAGR.
Based on the geographies, the global ethyl ascorbic acid market is fragmented into seven key regions — North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific except Japan, Japan, and the Middle East & Africa. Among the regions mentioned above, North America accounts for a significant share of the global ethyl ascorbic acid market, owing to relatively high-value share of the region in the global pharmaceutical industry. Western Europe is followed by North America region in the global ethyl ascorbic acid market, owing to the substantial growth of chemical industry in the region.
The Asia-Pacific except Japan region accounts for significantly high volume share in the global ethyl ascorbic acid market, owing to the substantial growth in the cosmetic industry in this region. Eastern Europe and Japan also accounts for significant value share in the global ethyl ascorbic acid market, owing to the significant growth of the cosmetic industry over the forecast period. The developing economy such as Middle East Africa and Latin America have a moderate opportunity in the global ethyl ascorbic acid market, owing to the moderate growth rate in the pharmaceutical and cosmetic industry and growing population. Overall, the outlook for the global ethyl ascorbic acid market will have a positive growth over the forecast period, owing to the increasing demand for the pharmaceuticals as an anti-counterfeiting measure.
Few players in the global ethyl ascorbic acid market include Vantage Specialty Ingredients, Inc., Selco, BulkActives, M.C.Biotec Inc., Parchem fine & specialty chemicals, GREAF, Gonmisol, DSM Nutritional Products AG, . Rhino Linings Corporation, others.