Global Salicylic Acid Market by Application (Food & Preservatives, Cosmetics, Pharmaceutical) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global salicylic acid market was valued at 89.8 million tons in 2015. The forecast period will see a rise in demand for salicylic acids as a manufacturing ingredient for haircare products and cosmetic skin care products. Salicylic acid is used extensively in the manufacture of aspirin. Aspirin tablets are expected to see an increase in consumption due to their superior pain-relieving properties and easy availability. Market growth is expected to be slowed by rising concerns about the side effects. Multiple side effects of aspirin have been observed, including drowsiness and cramping, stomach upset, nausea, vomiting, stomach pain, headache, and stomach ulcers.

Global salicylic acid market fragmentation is high. There are a few manufacturers, each with different pricing patterns depending on end-use. It is produced by chemical synthesis. It is expected that phenol will become more readily available as a raw material due to the expansion of the Middle East oil & Gas industry and the U.S. Additionally, the demand for phenol will rise over the next eight year due to the increased exploration and production of shale oil and tight oil.

Exposure to high levels of salicylic acid can cause skin irritation, severe dryness, blistering and skin irritation. Consumer awareness about the harmful effects of salicylic acids is increasing. This will likely lead to consumers turning to naturally derived products like grape juice, tea tree oil, rosemary, and thyme. People around the world are becoming more aware of the negative effects of salicylic acid on their health. This might result in a decrease in demand.

Application Insights

This market can be divided by application into the pharmaceutical, food and preservatives, and cosmetics industries. Due to the increasing use of salicylic acid-based medicines for various skin disorders, as well as for treatment of cardiovascular diseases and Hughes syndrome, the market was dominated in pharmaceutical applications. Technological advancements and new innovations in the medical industry have led to a rise in the use of salicylic acid in treating various diseases.

From 2016 to 2024, the food and preservatives market is expected to grow at a rate exceeding 7%. Market demand is expected to rise due to the increasing use of salicylic acids and their derivatives in food and beverage industries to prevent fermentation and spoilage. The demand for salicylic acids products will also increase due to the increasing use of salicylic Acid as a preservative to extend the shelf-life products like sauces, beer, wine, and other beverages. Retail shopping has been a major influence on food processing companies' ability to extend the shelf-life of their products in advanced economies around the world. This is expected to lead to growth in salicylic acid.

Due to the high demand for acne reduction products and facial creams, salicylic acid is expected to be in demand in the cosmetics industry. The market will also see an increase in demand for shampoos and conditioners to treat different hair conditions. Over the forecast period, salicylic acid-based products are expected to see growth due to increasing blackheads, zits warts and pimples. What is the best way to get rid of blackheads?

Regional Insights

Europe held a substantial market share of more than 30% in 2015. This was due to a growing haircare and skincare industry, fueled by increased awareness about hygiene and health in Europe. Market growth is expected to be driven by the increasing use of aspirin in treating and preventing ailments like strokes and dementia, as well as the aging population's increased acceptance of the drug. The growth is expected to be affected by strict regulations enforced by the European Commission on the use of salicylic acids.

Latin America's market is expected to grow at a rate of 8.0% between 2016 and 2024. Preservatives are a key ingredient in many packaged food products. This has resulted in a growing demand. Market growth is expected to be driven by increasing demand for medicated cosmetics and growing use of salicylic acids-based pharmaceutical products due to their effects on diseases such as Hughes syndrome or dementia. Asia Pacific also saw a rise in salicylic acid demand due to changing lifestyles and increased dependence on regional pharmaceuticals for health-related issues. This has allowed regional medicine producers to increase their product demand in recent years.

Competitive Insights

Alfa Aesar and J.M. are the key market players. Loveridge Ltd. and Alta Laboratories are the key market players. Siddharth Karbochem Products Ltd. is also involved. Zhenjiang Gaopeng Pharmaceutical Co. Ltd. Novocap Chemicals, and Alfa Aesar are other major players. Major buyers include Bayer, pharmaceutical companies like Alta Laboratories, Siddharth Carbochem Products Ltd., Zhenjiang Gaopeng Pharmaceutical Co. Ltd., Novocap, and Simco Chemicals.

Mergers and acquisitions are a common strategy to increase market share in the market. Novocap SA, an Argentina-based manufacturer of salicylic acids, acquired Rhodia Specialty Chemicals’ salicylic acid business and acetaminophen businesses to create Novocyl. This was done to increase the company's market presence and market share.

Salicylic Acid Market Report Scope

These are the most frequently asked questions about this report

b. Global salicylic acid market was valued at USD 395.9 Million in 2019, and is forecast to grow to USD 422.4 Million in 2020.

b. Global salicylic acid markets are expected to expand at 6.7% compound annual growth rate from 2019 to 2024, reaching USD 547.5 million in 2024.

b. Europe was the market leader in salicylic acid with a 28.6% share in 2019. This can be attributed to the growing beauty and haircare market, which is driven by an increasing awareness of health and hygiene in the region.

b. Alfa Aesar and J.M. are some of the key players in the salicylic acids market. Loveridge Ltd. Alta Laboratories Siddharth Karbochem Products Ltd. Zhenjiang Gaopeng Pharmaceutical Co. Ltd. Novocap and Simco Chemicals are some of the key players in the salicylic acid market.

b. The market is driven by growing demand for salicylic acids in the manufacture of haircare products and cosmetic skincare products, as well as growing consumer awareness about its benefits.

Up Market Research published a new report titled “Salicylic Acid Market research report which is segmented by Application (Food & Preservatives, Cosmetics, Pharmaceutical), By Players/Companies Alta Laboratories, Novocap, Alfa Aesar, Simco Chemicals, JM Loveridge Ltd, Zhenjiang Gaopeng Pharmaceutical Co Ltd, Siddharth Carbochem Products Ltd”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Salicylic Acid Market Report Segments:

The market is segmented by Application (Food & Preservatives, Cosmetics, Pharmaceutical).

Salicylic Acid Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Salicylic Acid Market

Overview of the regional outlook of the Salicylic Acid Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Salicylic Acid Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Salicylic Acid Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Food & Preservatives

                2. Cosmetics

                3. Pharmaceutical

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Salicylic Acid Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Salicylic Acid Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.