December 2018: Adroit Market Research studied Global Salicylic Acid Market Size, By Application (Pharmaceuticals, Food and Preservative, Cosmetics and Others) and By Region (North America, Europe, Asia Pacific and Rest of the World). The global salicylic acid market analysis include industry trends, opportunities, drivers and restrains. The study includes value chain, Patent and PORTER’S analysis of the market. The study cover analysis of growing application of salicylic acid and rules and regulations of government and industry association on the permissible use. This coupled with competitive landscape of the major players in the global salicylic acid market we, have the forecast of the volume and value till 2025.
The global salicylic acid market is expected to reach USD 616 million and 175,201.8 tons volume by 2025. Characteristics such as anti-inflammatory, anti-sceptic and anti-bacterial along with others have gained tremendous traction in pharmaceutical application and are driving the growth of the global salicylic acid market during the forecast period. Further, increased demand for skin care products along with food preservatives is driving the market growth of the global salicylic acid market.
Frozen foods and ready to eat food & drinks products have surged in demand across the globe owing to its convenience. Salicylic acid which is anti-bacterial and anti-fungal is now being largely used in food as a preservative to increase the shelf-life of the product. Thus, food and preservative application are expected to grow at the fastest CAGR of 7.2% in volume consumption in the global salicylic acid market.
Pharmaceutical applications are expected to have the largest market share of 44% in volume consumption and to be valued at USD 271 million by 2025. Research and developments have shown the application of salicylic acid in cancer treatments. Thus, many pharma players who are investing heavily in cancer drugs and treatments are expected to boost the demand for salicylic acid driving the global salicylic acid market growth.
Overuse of salicylic acid in cosmetic products can damage the skin rather than preventing the damage. Hence many rules and regulation by government and industry association are expected to impact the growth of this segment in the global salicylic acid market. For instance, permissible use of salicylic acid in cosmetics and skin care products such as moisturizers, shampoos, shower gels, creams, and conditioners is about 0.5% to 2% according to the current industry standards.
Asia Pacific is expected to grow with the CAGR of 7.9% in volume consumption and the value is expected to reach USD 149 million by 2025. Skin care products coupled with foods and preservatives are anticipated to surge, driving the growth of the region in the global salicylic acid market.
Rest of the world which includes countries such UAE, Mexico and Saudi Arabia are projected to be international destinations for medical treatments. This is expected to drive the growth of the salicylic acid in pharmaceutical segment in the region. Further, in UAE and Saudi Arabia, a surge in demand for cosmetic products is expected, this is anticipated to drive the salicylic acid growth in the region. Thus, the rest of the world is forecasted to grow at the fastest CAGR of 9.3% in value reaching USD 81 million by 2025 in the global salicylic acid market.
The global salicylic acid market includes players such as Zhenjiang Gaopeng Pharmaceutical Co., Ltd., Siddharth Carbochem Products Ltd., Novacap, Shandong Xinhua Longxin Chemical Co. Alfa Aesar, Simco QC, J.M. Loveridge Ltd., Alta Laboratories Ltd., and Hebei Jingye Group and Ltd. Owing to the industry attractiveness many regional players from China are expected to enter in the global salicylic acid market further increasing the competition.
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