Salicylic Acid is an organic acid available since centuries globally. It is a colorless and odorless crystalline powder. It is extracted naturally from the bark of willow tree. Since centuries people are using salicylic acid as a medicinal product to reduce fever, aches and pains.Salicylic acid has anti-inflammatory properties which makes it an important acid in the pharmaceutical industry. Therefore, growing demand is reported for salicylic acid from the pharmaceutical industry worldwide. Salicylic acid is also used in the production of cosmetic and personal care products. The beneficial properties of salicylic acid of peeling off dead skin have created huge opportunities for growth in the cosmetic industry.
Growing awareness of well being and health among the people, especially in the emerging economies has led to greater use of cosmetic and personal care products. Useful properties of salicylic acid have led to high demand from the cosmetic industry. Therefore, personal care products and cosmetic industry is also expected to contribute to the growing demand and growth of salicylic acid market during the forecast period from 2016 to 2023. Food and preservatives is another sector responsible for high demand of salicylic acid market due to its antiseptic property. Salicylic acid is used as a food preservative on a large scale in the food industry. Hence, food and other applications are also expected to boost market demand for salicylic acid in the near future.
Salicylic acid market was valued at US$ 381.5 Mn in 2021 and is expected to reach US$ 744.04 Mn by 2030, growing at a CAGR of 8.4% during the forecast period 2023-2030.
Purpose of the Report
The purpose of this strategic research study titled “Global Salicylic Acid Market - Growth, Share, Opportunities, and Competitive Analysis, 2023 – 2030” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global salicylic acid market.
Target Audience
USP and Key Offerings
The report titled “Global Salicylic Acid Market - Growth, Share, Opportunities, and Competitive Analysis, 2023 – 2030” offers strategic insights into the global salicylic acid market along with the market size and estimates for the duration 2023 to 2030. The said research study covers in-depth analysis of multiple market segments based on end-user applications, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading salicylic acid vendors, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:
Overall, the research study provides a holistic view of the global salicylic acid market, of growth, offering market size and estimates for the period from 2023 to 2030, keeping in mind the above-mentioned factors.
Pharmaceuticals accounted for largest share of global salicylic acid market in 2021. The medicinal properties of salicylic acid such as reducing pain and aches have led to high demand from the pharmaceutical industry. Variety of painkillers and ointment are manufactured from salicylic acid in the market. For instance, salicylic acid is used in production of medicine which help in the treatment of psoriasis. Therefore, high demand for salicylic acid is witnessed from the pharmaceutical industry and is expected to increase in the near future. Personal care products accounted for more than 20% share of global salicylic acid market in 2021. Salicylic acid is used in manufacture of many personal care products. This acid has the property of curing blemishes which is now used for acne treatments worldwide. Increasing use of beauty products among the population has therefore given rise to demand for personal care products in the market. Hence, increasing demand for salicylic acid from the personal care products industry is expected to drive growth of global salicylic acid market.
The major factors driving the growth of salicylic acid in the market are the rising demand for aspirin in the market. In addition, high demand for wide range of personal and skin care products is also expected to contribute to the growth of salicylic acid market. Therefore, other application such as cosmetics and industrial are also expected to boost market demand for salicylic acid during the forecast period from 2016 to 2023.
Geography Segmentation Analysis
Europe accounted for the larger share of more than 30% of the global salicylic acid market in 2015. The growing demand for skin care products in the region has led to the growth of personal care products and cosmetic industries in the region. Therefore, high demand for salicylic acid is reported from cosmetic and personal care products in the region. Asia Pacific was the fastest growing market for salicylic acid in 2015 due to the growing pharmaceutical industry in the region. High demand for aspirin has led to booming growth of salicylic acid in the market. Therefore, Asia Pacific is projected to expand market demand and offer high growth opportunities for salicylic acid in the near future. Other regions such as North America, Middle East & Africa and Rest of the World are also anticipated to fuel demand for salicylic acid due to increasing use of beauty products and demand for processed food in the regions.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Salicylic Acid market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
