Global Salicylic Acid Market 2017-2021
About Salicylic Acid
Salicylic acid is known for relieving pain and fever and is primarily used to manufacture aspirin. This acid is naturally produced in willow tree barks and fruits, such as berries. The commercial manufacturing process of salicylic acid is carried out by the Kolbe-Schmitt synthesis process. It involves the reaction of dry sodium or potassium phenoxide with carbon dioxide at extreme temperatures. Different phenolic compounds, such as salicylic acid, amino salicylic acid, and resorcylic acids, are produced.
Technavio’s analysts forecast the global salicylic acid market to grow at a CAGR of 8.64% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global salicylic acid market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Salicylic Acid Market 2017-2021
Technavio recognizes the following companies as the key players in the global salicylic acid market: Alfa Aesar (Thermo Fisher Scientific), Alta Laboratories, J. M. Loveridge, Novacap, and Sigma-Aldrich.
Other Prominent Vendors in the market are: Hebei Jingye Group, Shandong Xinhua Longxin Chemical, SCPL, Zhenjiang Gaopeng Pharmaceutical, Salicylates And Chemicals, and Finoric.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing preference for processed food. The demand for processed food is growing rapidly, owing to its easy availability, longevity, and easy storage. Salicylic acid is predominantly used as a preservative in the food industry to maintain the color, flavor, texture, and nutrients. Salicylic acid helps to decimate microorganisms, such as yeasts, molds, and bacteria, and hinders the growth of enzymes that are responsible for the ripening of food.”
According to the report, one driver in the market is rising concerns toward skin infections. The rate of skin infections is growing year-over-year, owing to increasing migration, urbanization, and rapidly changing global climate. Skin infections include cellulitis, impetigo, shingles, warts, ringworm, nail fungus, and molluscum contagiosum. It is estimated that the global skin treatment market was valued at $17.22 billion in 2015 and is estimated to reach $20.53 billion by 2020. In addition, the United States dermatological market alone was valued at $11.32 billion in 2016. Salicylic acid acts as a prime ingredient in skin treatment products. Hence, the increasing adoption of skin treatment products is likely to boost the global salicylic acid market.
Further, the report states that one challenge in the market is preference for natural ingredients. Natural sources of salicylic acid, such as natural vegetables and fruits, are preferred over synthetic salicylic acid for skin treatment. This is because synthetic salicylic acid, when used for skin treatment procedures, results in several side effects, such as reddened skin, irritation, inflammation, and skin dryness. Salicylic acid in skin treatment plays a major role in treating various disorders. However, because of its exfoliating properties, salicylic acid causes the thinning of the dermal layer of the skin. The amount of salicylic acid in few facial creams and gels is more than 2%, which when used is harsh on the skin.
Alfa Aesar (Thermo Fisher Scientific), Alta Laboratories, J. M. Loveridge, Novacap, Sigma-Aldrich, Hebei Jingye Group, Shandong Xinhua Longxin Chemical, SCPL, Zhenjiang Gaopeng Pharmaceutical, Salicylates And Chemicals, and Finoric.