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Global salicylic acid market is projected to register a CAGR of 6.17% during the forecast period 2020-2025.
- The rising awareness of cosmetics products, changes in food consumption patterns, improved lifestyles and upgraded purchasing power among women, is in turn expected to drive the salicylic acid market.
- Salicylic acid has also been shown to have anti-inflammatory and antimicrobial properties. When used in combination with benzoic acid in ointment, it has fungicidal properties.
Key Market Trends
Growing Demand for Salicylic Acid in Skin Care Industry
The cosmetic industry hold the major share in the salicylic acid market. Salicylic acid is widely used in the treatment of many common dermatological conditions because of its keratoplastic properties. Moreover, the growing demand for dermatological treatment products such as acne solutions across the globe drives the market for premium salicylic acid. The usage of premium salicylic acid is increasing in dermatological applications to treat hyperkeratotic skin disorders attributing to the superior anti-inflammatory, antimicrobial and keratolytic properties. Salicylic acid effectively treats chronic plaque psoriasis, especially when it is being used as an adjunctive therapy. It is also used for treatment of diseases like ichthyoses, verruca and keratoderma as it possesses ability to soften the wound and exfoliate the stratum corneum. Growing acceptance of salicylic acid in skin care industry is boosting the market growth during the forecast period.
Asia-Pacific Holds the Significant Market Share
The global salicylic acids market is largely dominated by countries like United States, Canada, Japan, China, and United Kingdom. Asia-Pacific remains the fastest-growing market for salicylic acid in 2018 owing to strong demand surge from developed countries such as China and Japan. The manufacturers are eyeing on this potential region and heavily investing to bring the latest innovations and increase production capacity in order to cater the growing demand in the region.
Some of the major key players in the salicylic acid market, globally includes Zhenjiang Gaopeng Pharmaceutical CO,.Ltd, Shandong Xinhua Longxin Chemical Co. Ltd, Alta Laboratories Ltd. among others.
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