Salicylic Acid Market was valued at US$ 345 Mn in 2017, and is expected to reach US$ 570 Mn by 2026, at a CAGR of 6.5 % during forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Salicylic Acid market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Salicylic Acid market.
Salicylic acid is a monohydroxybenzoic acid originated from plants such as willow tree and salix. It is broadly used as a wart remover, antiseptic, pain reliever, disinfectant and food preservative around the globe owing to its anti-inflammatory, comedolytic, fungicidal, anti-microbial and keratolytic properties.
Salicylic acid is a significant compound in various industrial sectors including pharmaceuticals and cosmetics owing to its expanding applications in treatment of diseases such as psoriasis, acne, dandruff and others. Main products produced using salicylic acid in pharmaceutical sector include acetylsalicylic acid, salicylic acid amine, methyl salicylate, phenyl salicylate and sodium salicylate.
Aspirin (acetylsalicylic acid) is the most significant product manufactured using salicylic acid. The manufacturing process of aspirin involves esterification of acetic anhydride and salicylic acid in presence catalyst which is sulfuric acid. Aspirin is a synthetic drug widely used to relieve pain, inflammation and reduce fever. Salicylic acid plays important role in hair care and skincare industry as it is widely used in treatment of inflammatory and dermatological diseases.
Growing use of salicylic acid and its byproducts in the food and beverage industry to prevent spoilage and fermentation is expected to convert into increase market demand. Furthermore, growing the use of salicylic acid as preservatives to extend the shelf-life of products such as sauces, beer, and wine is expected to augment the demand for salicylic acid products.
The cosmetics industry is estimated to witness increasing demand for salicylic acid due to high demand for facial creams and acne reduction preparations. Furthermore, the market is expected to witness an increasing demand for shampoos and conditioners that are used to treat various hair conditions. Contact to large amounts salicylic acid has found to be harmful to the skin and can result in severe dryness, blistering, and skin irritation.
The increasing use of byproducts of salicylic acid such as methyl salicylate and chlorine salicylate as a liniment for joint and muscle pain and for relieving pain caused by mouth ulcers is expected to drive the market growth over the forecast period.
However, growing awareness regarding the harmful effects of excessive consumption of the compound has led the regulatory bodies such as the Food and Drug Administration (FDA) to enforce stringent regulations regarding the maximum permissible limit for salicylic acid in various products, thus limiting its growth over the next eight years.
Geographically, Asia Pacific region is expected to witness the highest growth as compared to other regions. India and China are the biggest importer and exporter of salicylic acid in Asia pacific region. Europe accounted for the substantial market shares, owing to a growing skincare and hair care industry driven by increasing awareness about health and hygiene in the region. The market in Latin America is also expected to exhibit high growth over the forecast period.
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Scope of the Salicylic Acid Market
Global Salicylic Acid Market, by Application
• Pharmaceutical
• Food & preservatives
• Cosmetics
Global Salicylic Acid Market, by Region
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
Key Players operating in the Global Salicylic Acid Market
• Alfa Aesar
• Alta Laboratories Ltd.
• JM Loveridge Limited
• Novacap
• Sigma Aldrich
• Siddharth Carbochem Products Ltd
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