The latest report by IMARC Group, titled “Salicylic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global salicylic acid market size reached a value of US$ 427 Million in 2020. Salicylic acid is a beta hydroxy acid with the chemical formula of C7H6O3. It is an odorless and colorless crystalline organic acid that is derived either from a natural source like the bark of a willow tree or an artificial source such as carbolic acid. Salicylic acid helps reduce acne, whiteheads and blackheads by exfoliating the skin and keeping pores clear. It is oil soluble and penetrates deep into the pores of the skin and helps prevent future breakouts. It also exhibits fungicidal, anti-inflammatory, keratolytic, comedolytic, and anti-microbial properties. As a result, salicylic acid is used to manufacture a variety of products in the healthcare, food preservative, and cosmetics industries.
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Global Salicylic Acid Market Trends:
The market is primarily driven by the use of salicylic acid in the pharmaceutical industry as a key ingredient in medicines such as acetylsalicylic acid (aspirin), phenyl salicylate, and salicylic acid amine. In addition to this, healthcare professionals recommend salicylic acid in cases of skin disorders, including psoriasis, acne, and blemishes, which is escalating the product demand. Besides this, salicylic acid is utilized in cosmetics and personal care products as an active ingredient to nourish and exfoliate the skin, remove dead skin cells and minimize skin discoloration. Furthermore, the introduction of salicylic acid derivatives, such as chlorine salicylate and methyl salicylate, to treat muscle and joint pain is significantly impacting the market. Looking forward, the market is expected to exhibit moderate growth during the forecast period (2021-2026).
- Based on the application, pharmaceuticals represent the largest segment, followed by personal care, and food and preservatives.
- Region-wise, the market has been divided into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.
- On assessing the import and export scenario of the market, it is found that India and China are the biggest importer and exporter of salicylic acid, respectively.
- The competitive landscape of the market has been examined, with some of the key players being Alfa Aesar (Thermo Fisher Scientific), Alta Laboratories Limited, JM Loveridge Limited, Novacap, Inc., Sigma-Aldrich Chemicals Private Limited and Siddharth Carbochem Products Limited.
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