The global salicylic acid market is expected to grow at a CAGR of approximately 8.0% in terms of value over the time frame 2018 to 2026 and to reach over $620 Million by 2026.
Salicylic acid are derived from flora & fauna and belongs to the drugs class such as aspirin. Most of salicylic acids are harvested from plant known as white willow and salix. Salicylic acid are also synthetically produced from carbon dioxide and sodium phenolate. The major use of salicylic acid is done for the treatment of acne with the amalgamation of other acne treatment products. The other skin care uses of salicylic acid includes treatment of dandruff, seborrhea and removal of corns. Salicylic acid are also used as food preservatives in food & beverages industry owing to the growing demand for processed food in economies such as India, China, U.S., UK, and Canada.Along with various advantages offered by salicylic acid, they are also likely to have harmful effects on human body such as skin irritation, headache, itching, and dizziness.
The market research study on “Salicylic Acid Market (By Application: Pharmaceuticals [Wart Remover, Disinfectant, Antifungal, Dentifrices, Antiseptic, Anti-irritant, Scale lifter, Ointment]; Skin Care [Moisturizer, Sunscreen, Acne Solution], Hair Care [Conditioner, Shampoo], Food Preservatives) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global salicylic acid market. The report also analyzes the key players operating in salicylic acid market and identifies the key strategies deployed by them along with the market share of leading players.
The global salicylic acid market is segmented as below:
Salicylic Acid Market by Application
Salicylic Acid Market by Geography
Global salicylic acid market is driven by its increased usage as preservatives in food & beverages industry. Moreover, the mounting demand for aspirin drug also supports the growth of salicylic acid market globally. In addition, the augmented demand for salicylic acid from personal care products also boosts the market worldwide. However, the harmful effects of salicylic acid such as rash, severe dizziness, itching, and trouble breathing is likely to restrict the growth of salicylic acid during the forecast period. Nevertheless, the increased acceptance of salicylic acid in medical cosmetics offers huge growth opportunities for salicylic acid manufacturers during the forecast period.
Salicylic acid market has been segmented based on application such as pharmaceuticals, skincare, hair care, and food preservatives. Pharmaceuticals segment has been further sub-segmented as wart remover, disinfectant, antifungal, dentifrices, antiseptic, anti-irritant, scale lifter, ointment. Moisturizer, sunscreen, and acne solution are the sub-segment of skincare segment, whereas conditioners and shampoos are the sub-segments for hair care segment. The skin care segment is anticipated to be the most lucrative market during the forecast period owing to its increased usage in the treatment of dermatological diseases.
North America was the largest revenue generator for global salicylic market in 2013 owing to the growing trend of self-prescription for several skin related problems. Asia-Pacific is projected to be the most attractive market for the manufacturers of salicylic acid throughout the forecast period due to the augmented demand for personal care products. According to industry experts, Asia is likely to hold 70% of the global cosmetic market by 2020 as a result of increasing number of urbanized population coupled with increasing awareness regarding skin care. Growth of salicylic acid market in the region is also supported by the increased demand for processed food from China, and India.
Some of the leading companies operating in the global salicylic acid market include Alfa Aesar, Zhenjiang Gaopeng Pharmaceutical Co., Ltd., Alta Laboratories Ltd., Shandong Xinhua Longxin Chemical Co. Ltd., Hebei Jingye Group, Siddharth Carbochem Products Ltd., Simco QC, and Novacap, J.M. Loveridge Ltd.