The global salicylic acid market was valued at USD 333 million and the volume was 102,815 tons in 2017. The market grew owing to its wider application in pharmaceutical, food and cosmetic industry. Salicylic acid a 2-hydroxybenzenecarboxylic is a monohydroxybenzoic acid. The salts and esters derived from salicylic acid are known as salicylates. Salicylic acid is derived from the metabolism of salicin. Properties such as anti-inflammation, anti-bacterial, anti-fungal and antiseptic have led to its increased application in global salicylic acid market.
The pharmaceutical industry was the largest application for salicylic acid valued at USD 146 million and accounting to 4,981.6 tons volume consumption in 2017 in the global salicylic acid market. Aspirin (acetylsalicylic acid) is derived from salicylic acid. Aspirin a synthetic drug is been widely used to relieve muscle and joint pain, reduce fever and as an anti-inflammatory drug. Thus, aspirin has been gaining wide-scale acceptance in the pharmaceutical industry and is likely to continue, fueling the growth of the global salicylic acid market.
Salicylic acid is been used in cosmetic products is further driving the growth of the global salicylic acid market. Salicylic acid is a strong keratolytic and a comedolytic agent which helps to keep the skin moist and also provide an anti-inflammatory effects. Thus salicylic acid is being widely used to manufacture haircare and cosmetic product such as hair shampoo, moisturizers and acne creams. But owing to the side effects due to the excess use of salicylic acid many government rules and regulation are expected to be levied on the permissible use of salicylic acid in cosmetic products in the major region such as Europe, North America and the Asia Pacific. This is anticipated to slow down the growth of salicylic acid in the cosmetic industry in the global salicylic acid market. However, properties such as anti-bacterial and anti-fungal are driving the use of salicylic acid in food and preservatives boosting market growth of global salicylic acid market.
The value of the Salicylic Acid market is projected to grow to $540 Billion with an estimated CAGR of 10% by 2030
North America region was the largest market in the global salicylic acid market valued at USD 133 million and accounting to 37% share in volume consumption in 2017. The region grew owing to the surge in demand for salicylic acid from the largest pharmaceuticals companies in the U.S. and the increasing use of cosmetics products to prevent any skin problems. Further, pharmaceuticals players in the U.S. market are investing heavily in R&D to explore medical applications of salicylic in cancer treatment. This is expected to increase the demand for salicylic acid in pharma sector driving the growth of the region in the global salicylic acid market. This increasing demand for salicylic acid will be constantly monitored by the Food and Drug Administration (FDA) in the U.S. They are expected to levy rules and regulation for the pharma players on the permissible use of salicylic acid in certain drugs. North America was followed by the Asia Pacific and Europe in 2017 in the global salicylic acid market.
The global salicylic acid market is fragmented owing to the presence of small and large players such as Siddharth Carbochem Products Ltd., J.M. Loveridge Ltd., Novacap, Alfa Aesar, Alta Laboratories Ltd., Simco QC, Hebei Jingye Group, Shandong Xinhua Longxin Chemical Co. Ltd., and Zhenjiang Gaopeng Pharmaceutical Co., Ltd. The global salicylic acid market is expected to grow significantly and many players in the market are investing in R&D and hence these players are expected to file patents and also integrate across the value chain. For instance, players such as Novacap, Simco QC and Loveridge Ltd in the global salicylic acid have forward integrated into the value chain and have started the production of Phenol an important raw material in manufacturing multiple household products and is also used as intermediates for industrial synthesis.
Salicylic Acid Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||$540 Billion|
|Growth Rate||CAGR of 10 % during 2022-2030|
|Segment Covered||By Source, By Applications, Region.|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Alfa Aesar, J.M. Loveridge Ltd., Alta Laboratories, Siddharth Carbochem Products Ltd., Zhenjiang Gaopeng Pharmaceutical Co. Ltd, Novocap, and Simco Chemicals.|
Segment overview of Global Salicylic Acid Market
- Application Overview , 2015-2025 (USD million)(Tons)
- Food and Preservative
- Regional Overview, 2015-2025 (USD million)(Tons)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World
- North America
- The report has company profiles of major players in the market
- Hebei Jingye Group
- Zhenjiang Gaopeng Pharmaceutical Co., Ltd.
- Simco QC
- Shandong Xinhua Longxin Chemical Co. Ltd.
- Siddharth Carbochem Products Ltd.
- J.M. Loveridge Ltd.
- J.M. Loveridge Ltd.
- Alta Laboratories Ltd.