The global salicylic acid market reached a value of US$ 427 Million in 2020. Salicylic acid is an organic white crystalline solid with the chemical formula C7H6O3. It can be derived naturally from plants such as willow tree and salix or can be produced synthetically from sodium phenolate and carbon dioxide. Owing to its fungicidal, anti-inflammatory, keratolytic, comedolytic and anti-microbial properties, salicylic acid finds several applications in the cosmetics, healthcare and pharmaceutical industries. Salicylic acid is also used to manufacture cosmetics as it helps in moisturising and dissolving the substance that causes the skin layers to stick together.
Global Salicylic Acid Market Trends and Drivers:
In the pharmaceutical industry, salicylic acid is extensively used to manufacture a number of medicines such as acetylsalicylic acid (aspirin), phenyl salicylate, salicylic acid amine, methyl salicylate and sodium salicylate. Growth in the demand for these medicines due to a rise in the number of human infectious diseases has created an attractive market for salicylic acid. Moreover, it is used for manufacturing haircare and skincare products as it nourishes the skin, treats acne on oily skin, removes dead skin cells and lessens skin discoloration. Increasing demand for these products owing to consumer’s awareness is propelling the market growth worldwide. Additionally, growing consumption of derivatives of salicylic acid, such as chlorine salicylate and methyl salicylate as a liniment for muscle and joint pain, is further expected to boost its demand. Looking forward, IMARC Group expects the global salicylic acid market to exhibit moderate growth during 2021-2026.
This report provides a deep insight into the global salicylic acid market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the salicylic acid market in any manner.
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