The global salicylic acid market was valued at $287.1 million in 2019, and is projected to reach $490.8 million by 2027, growing at a CAGR of 8.0% from 2020 to 2027.
Salicylic acid is a crystalline organic acid derived from plants such as salix and willow tree. Attributing to its keratolytic, anti-inflammatory, fungicidal, comedolytic, and antimicrobial properties, it is extensively used as an antiseptic, disinfectant, pain reliever, wart remover, and food preservative globally. Salicylic acid is an important compound in pharmaceuticals, healthcare, and cosmetics owing to its widespread application in the treatment of diseases such as dandruff, acne, psoriasis, and others. Acetylsalicylic acid, salicylic acid amine, methyl salicylate, sodium salicylate, and phenyl salicylate are the main products manufactured from salicylic acid.
Among these products, acetylsalicylic acid (Aspirin) is produced majorly, and this is done by esterification reaction between salicylic acid and acetic anhydride utilizing sulfuric acid as a catalyst. Aspirin is an anti-inflammatory drug widely used to cure pain, reduce inflammation, and lower fever. Salicylic acid is an important compound in skincare and haircare industry, owing to its applications in the treatment of dermatological and inflammatory diseases. Manufacturers of salicylic acid carefully comply with the regulations and norms drawn by the public authorities in Europe, Asia, and the U.S. to safeguard human health and the environment.
Global salicylic acid market is primarily driven by increasing usage of salicylic acid in preserved food & beverages industry, rising demand for aspirin drug worldwide, and growing application scope in personal care products. Salicylic acid prevents spoilage and fermentation of packaged & frozen foods. It increases the shelf life of large number of food & beverages products such as beer, wine, sauces, and so on. Salicylic acid is harmful to skin and its overexposure may lead to skin irritation, breathing problems, and digestive disorders. Consumer awareness about these factors can moderately hinder the growth of this market. High adoption in medical cosmetics and increasing demand from emerging economies like Asia-Pacific offer various growth opportunities.
The world salicylic acid market is segmented on the basis of application and geography. Salicylic acid is applicable in various industries including pharmaceuticals, skin care, hair care, food & beverages, and others. Each application is further classified into sub-categories such as pharmaceuticals into PC (Prescription drugs) and OTC (Over-the-counter); skincare into moisturizer, sunscreen, and acne solution; and haircare into conditioner and shampoo. By region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
The market, with its surging demand in end applications, has witnessed high growth during the past few years, and this growth trend is estimated to continue in the future too. Key players are investing in R&D activities such as use of aspirin in treatment of cardiovascular diseases and development of increased applications for the products formed. Major players in the market are Siddharth Carbochem Products Ltd., Novacyl, Alta Laboratories Ltd., Alfa Aesar, J.M Loveridge Ltd, Zhenjiang Gaopeng Pharmaceutical Ltd., Hebei Jingye Group, Avnochem Limited, Zhenjiang Maoyuan Chemical Co. Ltd, Shandong Xinhua Pharmaceutical Co. Ltd., etc.
KEY BENEFITS FOR STAKEHOLDERS
_ The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global Salicylic Acid market from 2019 to 2027 to determine the prevailing opportunities
_ A comprehensive analysis of the factors that drive and restrict the growth of the market is provided
_ Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume
_ Profiles of leading players operating in the market are provided to understand the global competitive scenario
_ The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth
KEY MARKET SEGMENTS
_ Wart Remover
_ Scale Lifter
_ Skin Care
- Acne Solution
_ Hair Care
_ Food Preservatives & Others
- ·North America
_ Rest of Europe
_ Rest of Asia-Pacific
_ South Africa
Key Market Players
- Siddharth Carbochem Products Ltd.
- Alta Laboratories Ltd.
- Alfa Aesar
- J.M Loveridge Ltd.
- Zhenjiang Gaopeng Pharmaceutical Ltd.
- Hebei Jingye Group
- Avnochem Limited
- Zhenjiang Maoyuan Chemical Co. Ltd
- Shandong Xinhua Pharmaceutical Co. Ltd.