Salicylic Acid Market by Pharmaceuticals Application [PC (Wart Remover, Disinfectant, Antifungal, Dentifrices, Antiseptic, and Anti-irritant), OTC (Scale Lifter and Ointment)], Skincare Application (Moisturizer, Sunscreen, Acne Solution), Haircare Application (Shampoo, Conditioner) and Food Preservative & Others - Global Opportunity Analysis and Industry Forecast, 2014 - 2022
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. World salicylic acid market was $333 million in 2015 and is expected to reach $504 million by 2022, growing at a CAGR of 6.3% during 2016-2022.
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 U.S. to safeguard human health and the environment.
There are myriad growth drivers for the world salicylic acid market including 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 and OTC; skincare into moisturizer, sunscreen, and acne solution; and haircare into conditioner and shampoo. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Major players in the market are:
Zhenjiang Gaopeng Pharmaceutical Co., Ltd. (China)
Hebei Jingye Group (China)
Shandong Xinhua Longxin Chemical Co. Ltd. (China)
Simco QC (Canada)
Siddharth Carbochem Products Ltd. (India)
J.M. Loveridge Ltd. (UK)
Alta Laboratories Ltd. (India)
Alfa Aesar (UK)
Key Market Benefits
The report provides an in-depth analysis of the world salicylic acid market and estimations from 2014 to 2022 in terms of value as well as volume, including information about the current market situation, changing market dynamics, expected trends, and market intelligence.
Factors that drive and impede the growth of the market are comprehensively analyzed in this study.
Porterâs Five Forces model and SWOT analysis illustrate the potency of buyers and sellers.
The report contains a comprehensive study of the key strategies adopted by companies to gain competitive advantage in the market.
Micro-level analysis is conducted based on application and region.
KEY MARKET SEGMENTS:
Food Preservatives & Others
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA