Salicylic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
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. Owing to its fungicidal, anti-inflammatory, keratolytic, comedolytic and anti-microbial properties, salicylic acid finds several applications in the cosmetics, healthcare and pharmaceutical industries. Salicylic acid is also used to manufacture cosmetics as it helps in moisturising and dissolving the substance that causes the skin layers to stick together. According to the latest report by IMARC Group, titled “Salicylic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global salicylic acid market reached a value of US$ 371 Million in 2017.
In the pharmaceutical industry, salicylic acid is extensively used to manufacture a number of medicines such as acetylsalicylic acid (aspirin), phenyl salicylate, salicylic acid amine, methyl salicylate and sodium salicylate. Growth in the demand for these medicines due to a rise in the number of human infectious diseases has created an attractive market for salicylic acid. Moreover, it is used for manufacturing haircare and skincare products as it nourishes the skin, treats acne on oily skin, removes dead skin cells and lessens skin discoloration. Increasing demand for these products owing to consumer’s awareness is propelling the market growth worldwide. Additionally, growing consumption of derivatives of salicylic acid, such as chlorine salicylate and methyl salicylate as a liniment for muscle and joint pain, is further expected to boost its demand. Looking forward, the market value is projected to exceed US$ 514 Million by 2023, expanding at a CAGR of more than 5.6% during 2018-2023.
On the basis of application, pharmaceuticals represent the largest segment, followed by personal care, and food & preservatives.
Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America.
On assessing the import and export scenario of the market, it is found that India and China are the biggest importer and exporter of salicylic acid, respectively.
The competitive landscape of the market has also been examined with some of the key players being Alfa Aesar, Alta Laboratories Ltd., JM Loveridge Limited, Novacap, Sigma Aldrich, Siddharth Carbochem Products Ltd, etc.
This report provides a deep insight into the global salicylic acid market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the salicylic acid market in any manner.
Key Questions Answered in This Report:
How has the global salicylic acid market performed so far and how will it perform in the coming years?
What are the key regions in the global salicylic acid market?
What are the key application segments in the global salicylic acid market?
What are the various stages in the value chain of the global salicylic acid market?
What are the key driving factors and challenges in the global salicylic acid market?
What are the import and export trends of the global salicylic acid market?
What is the structure of the global salicylic acid market and who are the key players?
What is the degree of competition in the global salicylic acid market?
How is salicylic acid manufactured?