The Global Salicylic Acid Market Size accounted for USD 443 Million in 2021 and is estimated to achieve a market size of USD 853 Million by 2030 growing at a CAGR of 7.8% from 2022 to 2030. Increased demand for pharmaceuticals as well as packaged foods and beverages is propelling the salicylic acid market growth. Furthermore, the rising demand for salicylic acid in the production of haircare and cosmetic personal care products, as a result of rising consumer awareness about its benefits, is likely to drive the salicylic acid market value over the projected timeline.
Salicylic Acid Market Report Key Highlights
Salicylic acid is derived from flora & fauna and belongs to the drugs class such as aspirin. Most salicylic acids are harvested from the plant known as white willow and salix. Salicylic acids 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 skincare uses of salicylic acid include the treatment of dandruff and seborrhea and the removal of corn. Salicylic acids are also used as food preservatives in the 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 the human body such as skin irritation, headache, itching, and dizziness.
Global Salicylic Acid Market Trends
Salicylic Acid Market Report Coverage
|Market||Salicylic Acid Market|
|Salicylic Acid Market Size 2021||USD 443 Million|
|Salicylic Acid Market Forecast 2030||USD 853 Million|
|Salicylic Acid Market CAGR During 2022 - 2030||7.8%|
|Salicylic Acid Market Analysis Period||2018 - 2030|
|Salicylic Acid Market Base Year||2021|
|Salicylic Acid Market Forecast Data||2022 - 2030|
|Segments Covered||By Application, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Alfa Aesar, Merck KGaA, Zhenjiang Gaopeng Pharmaceutical Co., Ltd., Simco QC, J.M. Loveridge Ltd., Alta Laboratories Ltd., Novacap, Shandong Xinhua Longxin Chemical Co. Ltd., Hebei Jingye Group, and Siddharth Carbochem Products Ltd.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
The global salicylic acid market is driven by its increased usage as a preservative in the food & beverages industry. Moreover, the mounting demand for aspirin drugs also supports the growth of the 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 are 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.
The global salicylic acid market is extremely diversified, with a limited number of manufacturers charging different prices depending on the end-use industry. It is produced commercially through the chemical processing of phenol. The rise of the Middle Eastern and American oil and gas industries is predicted to boost the accessibility of phenolic as a raw resource. Furthermore, increased exploration and development of shale gas as well as tight oil is predicted to enhance the supply of phenol, which is expected to stimulate demand during the next few years. However, excessive salicylic acid treatment has been shown to be damaging to the skin, causing severe dryness, cracking, & skin irritation.
Salicylic Acid Market Segmentation
The worldwide salicylic acid market segmentation is based on the application, and geography.
Salicylic Acid Market By Application
According to salicylic acid industry research, the pharmaceutical application segment leads the market in 2021. This growth is due to an increase in the usage of salicylic acid-based medications in the treatment of numerous skin illnesses, as well as cardiovascular problems with Hughes syndrome. The growth of the medical sector in terms of scientific activity has resulted in new breakthroughs as well as technological advancements, resulting in an increase in the application areas of salicylic acid to cure various ailments.
Furthermore, as per salicylic acid market forecast, food, and preservatives category is expected to increase significantly in the approaching years. Salicylic acid and its compounds are increasingly being used in the industries of food and beverages to avoid contamination and fermentation, which is projected to drive market demand. Furthermore, the increasing usage of salicylic acid as a preservative to extend the shelf-life of goods such as sauce, beer, & wine is predicted to drive growth for salicylic acid goods.
Salicylic Acid Market Regional Outlook
The Middle East & Africa
Asia-Pacific Holds Significant Share Of The Global Salicylic Acid Market In 2021
The Asia-Pacific region has one of the largest customer bases and a significant market share. This region is also predicted to have the largest growth throughout the projection period due to an increase in demand for personal care and cosmetics goods, as well as an increase in consumers due to an increase in disposable income, particularly in countries such as India, China, and Indonesia, among many others. Furthermore, rising demand for therapeutic cosmetics, as well as increased use of salicylic acid-based pharmacological treatments for conditions such as Hughes's condition and dementia, is likely to fuel market expansion throughout the projected timeline.
Salicylic Acid Market Players
Some of the top salicylic acid market companies offered in the professional report include Alfa Aesar, Merck KGaA, Zhenjiang Gaopeng Pharmaceutical Co., Ltd., Simco QC, J.M. Loveridge Ltd., Alta Laboratories Ltd., Novacap, Shandong Xinhua Longxin Chemical Co. Ltd., Hebei Jingye Group, and Siddharth Carbochem Products Ltd.
The estimated value of global salicylic acid market in 2021 was accounted to be USD 443 Million.
The projected CAGR salicylic acid market during the analysis period of 2022 to 2030 is 7.8%.
The prominent players of the global salicylic acid market are Alfa Aesar, Merck KGaA, Zhenjiang Gaopeng Pharmaceutical Co., Ltd., Simco QC, J.M. Loveridge Ltd., Alta Laboratories Ltd., Novacap, Shandong Xinhua Longxin Chemical Co. Ltd., Hebei Jingye Group, and Siddharth Carbochem Products Ltd.
Asia-Pacific held the dominating salicylic acid during the analysis period of 2022 to 2030.
Europe region exhibited fastest growing CAGR for salicylic acid during the analysis period of 2022 to 2030.
Rising demand for topical medications and pharmaceuticals and increasing use of personal care and food preservatives drives the growth of global salicylic acid market.
Based on application, pharmaceuticals segment is expected to hold the maximum share of the salicylic acid market.