According to IMARC Group’s latest report, titled “Salicylic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global salicylic acid market reached a value of US$ 427 Million in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Salicylic acid (C7H6O3), chemically known as ortho-hydroxybenzoic acid, is an odorless white crystalline solid that is naturally derived from salix and willow tree. It can also be synthetically produced using carbon dioxide and sodium phenolate. It has fungicidal, keratolytic, comedolytic, anti-inflammatory and anti-microbial properties that help in lowering the pH value of stratum corneum, the outermost layer of the skin. Owing to its favorable properties, salicylic acid finds numerous applications in the food, cosmetic, healthcare, personal care and pharmaceutical industries across the globe.
Market Trends and Drivers:
Salicylic acid is widely utilized in the pharmaceutical industry for manufacturing medicines, such as methyl salicylate, phenyl salicylate, sodium salicylate, salicylic acid amine and acetylsalicylic acid (aspirin). A rise in the demand for these medicines, in confluence with the increasing cases of infectious diseases among individuals, is boosting the overall sales of salicylic acid around the world. Apart from this, as it nourishes and exfoliates the skin, removes dead skin cells and minimizes skin discoloration, it is widely used as an active ingredient in various personal care products. For instance, it is used in facial cleansers, serums, creams and ointments for clearing and treating acne and skin blemishes. It is also employed for treating skin conditions that involve scaling or overgrowth of skin cells, such as corns, calluses, psoriasis, and ichthyoses dandruff. This, along with the burgeoning personal care industry, is anticipated to impel the market growth in the coming years.
Salicylic Acid Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the salicylic acid market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Alta Laboratories Ltd.
- JM Loveridge Limited
- Siddharth Carbochem Products Ltd
- Alfa Aesar (Thermo Fisher Scientific Inc.)
- Novacap, Inc.
- Sigma-Aldrich Corporation
Key Market Segmentation:
- Based on the application, the market has been classified into pharmaceuticals, personal care, food and preservatives, and others. Amongst these, the pharmaceutical sector accounts for the majority of the total market share.
- Region-wise, North America represents the largest market. Other major markets include Europe, Asia Pacific, Latin America, and Middle East and Africa.
- On assessing the import and export scenario of the market, it has been found that India and China are the leading importers and exporters of salicylic acid, respectively.
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Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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