Salicylic Acid Market Size, Share, Growth, Global Trends, Industry Analysis and Forecast to 2027Price: 3200/- USD | Published Date: September 21, 2020 |
The global salicylic acid market has been projected to grow at the CAGR of 7% market during 2020-2027. The market is projected to show significant growth due to the increasing use of salicylic acid in the skincare products for the treatment of various skin disorders such as psoriasis, acne, and blemishes. The product is used as an ingredient in the preparation of aspirin. Salicylic acid acts as an anti-inflammatory agent thus promoting its use as an ingredient in aspirin preparations. 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.
Growing demand for salicylic acid in manufacturing hair care and cosmetic skin care products owing to growing consumer awareness regarding its benefits is expected to boost demand over the forecast period. Salicylic acid is extensively used in manufacturing aspirin. The global salicylic acid market is highly fragmented, with a small number of manufacturers with varied pricing patterns by end-use applications. The increasing use of processed food and flavored drinks has also led to booming demand for salicylic acid from the food industry. Salicylic acid is used as a food preservative as it has antiseptic properties. Changing and busy lifestyle of people has led to high demand for processed food which has increased the use of salicylic acid in the food industry. The personal care and cosmetics industry is also expected to contribute to the growth of the global salicylic acid market.
Market Segment Insights:
Pharmaceuticals accounted for the largest share of the global salicylic acid market in 2019. The medicinal properties of salicylic acid such as reducing pain and aches have led to high demand from the pharmaceutical industry. A variety of painkillers and ointment are manufactured from salicylic acid in the market. For instance, salicylic acid is used in the production of pharmaceuticals which help in the treatment of psoriasis. Therefore, high demand for salicylic acid is witnessed from the pharmaceutical industry and is expected to increase in the near future. Personal care products accounted for more than 20% share of the global salicylic acid market in 2019. Salicylic acid is used in the manufacture of several personal care products. The increasing use of beauty products among the population has consequently given rise to the demand for personal care products in the market. Therefore, increasing demand for salicylic acid from the personal care products industry is expected to drive the growth of the global salicylic acid market.
Global Salicylic Acid Market Segmentation:
By Application, 2018–2027 ($ Millon)
- Food & Preservative
- Personal Care Products
- Others (Derivatives, Industrial, etc.)
By Geography, 2018-2027 ($ Millon)
- North America
- Asia Pacific
- Latin America (LATAM)
- Middle East and Africa (MEA)
The global salicylic acid market is regionally classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa markets. Europe has the larger share of more than 30% of the global salicylic acid market in 2019. The growing demand for skin care products in the region has led to the growth of personal care products and cosmetic industries in the region. Therefore, high demand for salicylic acid is reported from cosmetic and personal care products in the region. The Asia Pacific was the fastest-growing market for salicylic acid in 2016 due to the growing pharmaceutical industry in the region. High demand for aspirin has led to the booming growth of salicylic acid in the market. Therefore, Asia Pacific is expected to expand market demand and offer high growth opportunities for salicylic acid in the near future. Other regions such as North America, Middle East & Africa, and Latin America are also anticipated to fuel demand for salicylic acid due to the increasing use of beauty products and demand for processed food in the regions.
Market Competition Assessment:
The major players currently operating in the global salicylic acid market include Alfa Aesar, Alta Laboratories Ltd, Hebei Jingye Group, JM Loveridge Limited., Novacap, Shadong Xinhua Longxin Chemical Co., Ltd., Siddharth Carbochem Products Ltd., Simco Chemical Inc., and Zhenjiang Gaopeng Pharmaceutical Co., Ltd.
List of Key Companies:
- Alfa Aesar
- Alta Laboratories Ltd
- Hebei Jingye Group
- JM Loveridge Limited.
- Shadong Xinhua Longxin Chemical Co., Ltd.
- Siddharth Carbochem Products Ltd.
- Simco Chemical Inc.
- Zhenjiang Gaopeng Pharmaceutical Co., Ltd
Key Questions Answered by Salicylic Acid Market Report
- Global salicylic acid market forecasts from 2020-2027
- Regional salicylic acid market forecasts from 2020-2027 covering Asia-Pacific, North America, Europe, Middle East, and Africa, and Latin America
- Country-level forecasts from 2020-2027 covering 15 major countries from the aforementioned regions
- Salicylic Acid submarket forecasts from 2020-2027 covering submarket 1, submarket 2 submarket 3
- Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to the salicylic acid market
- Analysis of the key factors driving and restraining the growth of the global, regional, and country-level salicylic acid markets from 2020-2027
- Competitive Landscape and market positioning of top 10 players operating in the salicylic acid market
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Table of Content:
Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
Chapter 2 Executive Summary
2.1 Global Salicylic Acid Market Portraiture
2.2 Global Salicylic Acid Market, by Application, 2019 ($ Million)
2.3 Global Salicylic Acid Market, by Geography, 2019 (Value %)
Chapter 3 Global Salicylic Acid Market Analysis
3.1 Global Salicylic Acid Market Overview
3.2 Prevalence of Salicylic Acid
3.3 Market Dynamics
3.3.1 Market Drivers
188.8.131.52 Increasing demand from pharmaceuticals industry
184.108.40.206 Risk of side effects caused by over usage of salicylic acid
3.4 Attractive Investment Proposition
3.5 Competitive Analysis: Global Salicylic Acid Market, 2019 (Value %)
Chapter 4 Global Salicylic Acid Market Analysis, by Application, 2018-2027 ($ Million)
4.3 Food & Preservative
4.4 Personal Care Products
4.6 Others (Derivatives, Industrial, etc.)
Chapter 5 Global Salicylic Acid Market, by Geography, 2018-2027 ($ Million)
5.1 North America (U.S. & Canada)
5.2 Europe (U.K., Germany & Rest of Europe)
5.3 Asia Pacific (China, Japan, Singapore, South Korea and Rest of APAC)
5.4 Latin America (Mexico, Brazil and Rest of LATAM)
5.5 Middle East and Africa
Chapter 6 Company Profiles
6.1 Alfa Aesar
6.2 Alta Laboratories Ltd
6.3 Hebei Jingye Group
6.4 JM Loveridge Limited.
6.6 Shadong Xinhua Longxin Chemical Co., Ltd.
6.7 Siddharth Carbochem Products Ltd.
6.8 Simco Chemical Inc.
6.9 Zhenjiang Gaopeng Pharmaceutical Co., Ltd.
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