Global Salicylic Acid Market is valued at USD 282.5 Million in 2018 and expected to reach USD 492.1 Million by 2025 with the CAGR of 8.25% over the forecast period.
The increasing usage of salicylic acid in preserved food & beverage industry, surging demand for aspirin drug across the globe and rising application scope in personal care products are the major factors driving the growth of Global Salicylic Acid Market.
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Scope of Global Salicylic Acid Market Report-
Salicylic acid is an organic white crystalline solid with the chemical formula C7H6O3. It can be derived naturally from plants such as willow tree and salix or can be produced synthetically from sodium phenolate and carbon dioxide. It is a medication used most commonly to help remove the outer layer of the skin. As such, it is used to treat warts, psoriasis, acne, ringworm, dandruff, and ichthyosis. Salicylic acid is a key ingredient in many skincare products for the treatment of seborrhoeic dermatitis, acne, psoriasis, calluses, corns, keratosis pilaris, acanthosis nigricans, ichthyosis and warts. It is also used for manufacturing hair care and skincare products as it nourishes the skin, treats acne on oily skin, removes dead skin cells and lessens skin discoloration.
Salicylic Acid Manufacturers:
Hebei Jingye Group, J.M. Loveridge, Novacap, Rishabh Metals and Chemicals, Samrat Remedies, Alta Laboratories, Zhenjiang Gaopeng, Shandong Binzhou Zhiyuan Biological Technology, Siddharth Carbochem, Simco QC, Shandong Xinhua Longxin Chemical, others.
Global Salicylic Acid Market report is segmented on the basis of product, application and by regional & country level. Based upon product, salicylic acid market is classified into food grade, pharmaceutical grade and other. Based upon application, salicylic acid market is classified into pharmaceutical, food and preservatives, cosmetics and others.
The regions covered in this Salicylic Acid market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Salicylic Acid is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Salicylic Acid Market Dynamics–
Increase in the prevalence of chronic acne vulgaris in adults and teenagers, owing to sedentary lifestyles and increased consumption of fast food items, may accelerate the salicylic acid demand. According to the National Center for Health Statistics report, during 2013–2016, 36.6% of adults consumed fast food on a given day. The percentage of adults who consume fast food decreased with age: 44.9% aged 20–39, 37.7% aged 40–59, and 24.1% aged 60 and over. In addition, increasing cases of cardiovascular diseases are also supplementing the growth of global Salicylic Acid market. According to the WHO, globally, it is estimated that 3.17 million deaths were caused by the disease in 2015 (that is, 5% of all deaths globally in that year). However, high price for skin care products may restrain the growth of salicylic acid product market. In spite of that, growing consumption of derivatives of salicylic acid, such as chlorine salicylate and methyl salicylate and joint pain, can create various opportunities for the further growth of the market.
Global Salicylic Acid Market Segmentation:–
By Product: Food Grade, Pharmaceutical Grade, Other
By Application: Pharmaceutical, Food and Preservatives, Cosmetics, Others
Global Salicylic Acid Market Regional Analysis–
North America and Europe are expected to capture the significant share of the global salicylic acid market with the potential rate due to the rising cases of neurological diseases such as Huntington’s disease & Alzheimer’s will helps in growth of the salicylic acid market. In California, U.S. over 160 thousand people were diagnosed with Alzheimer’s disease in 2018.
The Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period due to a rise in the number of human infectious diseases has created an attractive market for salicylic acid. According to IDSA report, In the Asia-Pacific region, the risks of HAIs have been estimated to be 2–20 times higher than in developed countries, with up to 25% of hospitalized patients reported to have acquired infections.
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