Salicylic acid is a crystalline organic acid derived from plants such as salix and willow tree. Attributing to its keratolytic, anti-inflammatory, fungicidal, comedolytic, and antimicrobial properties, it is extensively used as an antiseptic, disinfectant, pain reliever, wart remover, and food preservative globally. Salicylic acid is an important compound in pharmaceuticals, healthcare, and cosmetics owing to its widespread application in the treatment of diseases such as dandruff, acne, psoriasis, and others. Acetylsalicylic acid, salicylic acid amine, methyl salicylate, sodium salicylate, and phenyl salicylate are the main products manufactured from salicylic acid. World salicylic acid market was $333 million in 2015 and is expected to reach $504 million by 2022, growing at a CAGR of 6.3% during 2016-2022.
Among these products, acetylsalicylic acid (Aspirin) is produced majorly, and this is done by esterification reaction between salicylic acid and acetic anhydride utilizing sulfuric acid as a catalyst. Aspirin is an anti-inflammatory drug widely used to cure pain, reduce inflammation, and lower fever. Salicylic acid is an important compound in skincare and haircare industry, owing to its applications in the treatment of dermatological and inflammatory diseases. Manufacturers of salicylic acid carefully comply with the regulations and norms drawn by the public authorities in Europe, Asia, and U.S. to safeguard human health and the environment.
There are myriad growth drivers for the world salicylic acid market including increasing usage of salicylic acid in preserved food & beverages industry, rising demand for aspirin drug worldwide, and growing application scope in personal care products. Salicylic acid prevents spoilage and fermentation of packaged & frozen foods. It increases the shelf life of large number of food & beverages products such as beer, wine, sauces, and so on. Salicylic acid is harmful to skin and its overexposure may lead to skin irritation, breathing problems, and digestive disorders. Consumer awareness about these factors can moderately hinder the growth of this market. High adoption in medical cosmetics and increasing demand from emerging economies like Asia-Pacific offer various growth opportunities.
The world salicylic acid market is segmented on the basis of application and geography. Salicylic acid is applicable in various industries including pharmaceuticals, skin care, hair care, food & beverages, and others. Each application is further classified into sub-categories such as pharmaceuticals into PC and OTC; skincare into moisturizer, sunscreen, and acne solution; and haircare into conditioner and shampoo. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Major players in the market are:
Zhenjiang Gaopeng Pharmaceutical Co., Ltd. (China)
Hebei Jingye Group (China)
Shandong Xinhua Longxin Chemical Co. Ltd. (China)
Simco QC (Canada)
Siddharth Carbochem Products Ltd. (India)
J.M. Loveridge Ltd. (UK)
Alta Laboratories Ltd. (India)
Alfa Aesar (UK)
Key Market Benefits
The report provides an in-depth analysis of the world salicylic acid market and estimations from 2014 to 2022 in terms of value as well as volume, including information about the current market situation, changing market dynamics, expected trends, and market intelligence.
Factors that drive and impede the growth of the market are comprehensively analyzed in this study.
Porter’s Five Forces model and SWOT analysis illustrate the potency of buyers and sellers.
The report contains a comprehensive study of the key strategies adopted by companies to gain competitive advantage in the market.
Micro-level analysis is conducted based on application and region.
KEY MARKET SEGMENTS:
Food Preservatives & Others
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
1.1 Report description
1.2 Key market benefits
1.3 Key market segments
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
CHAPTER 2 EXECUTIVE SUMMARY
2.1 CXO perspective
CHAPTER 3 MARKET OVERVIEW
3.1 Market Definition and Scope
3.2 Key findings
3.2.1 Top investment pockets
3.3 Porters five forces analysis
3.3.1 Bargaining power of the supplier
3.3.2 Bargaining power of the buyer
3.3.3 Threat of substitute
3.3.4 Threat of new entrant
3.3.5 Competitive rivalry
3.4 Patent analysis
3.4.1 Patent analysis by region
3.4.2 Patent analysis by company
3.5 Market dynamics
18.104.22.168 Increasing usage in preserved food & beverage industry
22.214.171.124 Growing demand for aspirin drug
3.5.2 Growing application scope in personal care products
126.96.36.199 Consumer awareness about the harmful effects
188.8.131.52 High adoption in medical cosmetics
184.108.40.206 Increasing demand from emerging economies
CHAPTER 4 WORLD SALICYCYLIC ACID MARKET, BY APPLICATION
4.1.1 Market size and forecast
4.2.1 Key market trends
4.2.2 Key growth factors and opportunities
4.2.3 Market size and forecast
220.127.116.11 Market size and forecast
18.104.22.168 Wart remover
4.2.5 Over-the-counter (OTC)
22.214.171.124 Market size and forecast
126.96.36.199 Scale lifter
4.3 Skin care
4.3.1 Key market trends
4.3.2 Key growth factors and opportunities
4.3.3 Market size and forecast
4.3.6 Acne solution
4.4.1 Key market trends
4.4.2 Key growth factors and opportunities
4.4.3 Market size and forecast
4.5 Food preservatives & others
4.5.1 Key market trends
4.5.2 Key growth factors and opportunities
4.5.3 Market size and forecast
CHAPTER 5 WORLD SALICYLIC ACID MARKET, BY GEOGRAPHY
5.1.1 Market size and forecast
5.2 North America
5.2.1 Key market trends
5.2.2 Key growth factors and opportunities
5.2.3 Market size and forecast
5.3.1 Key market trends
5.3.2 Key growth factors and opportunities
5.3.3 Market size and forecast
5.3.11 Rest of Europe
5.4.1 Key market trends
5.4.2 Key growth factors and opportunities
5.4.3 Market size and forecast
5.4.7 Rest of Asia-Pacific
5.5.1 Key market trends
5.5.2 Key growth factors and opportunities
5.5.3 Market size and forecast
5.5.5 South Africa
5.5.6 Rest of LAMEA
CHAPTER 6 COMPANY PROFILES
6.1 Siddharth Carbochem Products Ltd.
6.1.1 Company overview
6.1.2 Operating business segments
6.1.3 SWOT analysis
6.2.1 Company overview
6.2.2 Operating business segments
6.2.3 Business performance
6.2.4 Strategic moves & developments
6.2.5 SWOT analysis
6.3 Alta laboratories Ltd.
6.3.1 Company overview
6.3.2 Operating business segments
6.3.3 SWOT analysis
6.4 Alfa Aesar GMBH & Co KG
6.4.1 Company overview
6.4.2 Operating business segments
6.4.3 Strategic moves & developments
6.4.4 SWOT analysis
6.5 Simco QC
6.5.1 Company overview
6.5.2 Operating business segments
6.5.3 SWOT analysis
6.6 J. M. Loveridge Ltd.
6.6.1 Company overview
6.6.2 Operating business segments
6.6.3 SWOT analysis
6.7 Zhenjiang Gaopeng Pharmaceutical Co., Ltd.
6.7.1 Company overview
6.7.2 Operating business segments
6.7.3 Business performance
6.7.4 SWOT analysis
6.8 Hebei Jingye Group
6.8.1 Company overview
6.8.2 Operating business segments
6.8.3 Business performance
6.8.4 SWOT analysis
6.9 Shandong Xinhua Longxin Chemical Co. Ltd.
6.9.1 Company overview
6.9.2 Operating business segments
6.9.3 Business performance
6.9.4 SWOT analysis
Salicylic acid can be used in conjugation with other pharmaceutical ingredients, such as benzoic acid, resorcinol, coal tar, and sulfur, to produce efficient and effective products. It is used as a wart remover, disinfectant, antiseptic, anti-irritant, and scale lifter, owing to its anti-inflammatory, fungicidal, and keratolytic properties. Salicylic acid is one of the two active ingredients approved by the FDA to treat psoriasis. It is utilized in other medical treatments such as ichthyosis, seborrheic, dermatitis, calluses, and corns. Salicylic acid-based medicines are available as prescription as well as over-the-counter (OTC) drugs. Salicylic acid is used in low concentrations as its overexposure to skin can cause severe dryness, blistering, heavy breathing, digestive disorders, and skin irritation.
The world salicylic market is highly fragmented owing to the increase in application of salicylic acid products across various industrial sectors. The demand for raw materials for salicylic acid production has increased considerably over the past few years; however, the sources from which these raw materials are derived are limited in nature. The raw material differentiation is less as these materials are obtained from natural resources.
Key findings of the Salicylic Acid Market
North America is expected to maintain its lead, throughout 2022, followed by Europe.
The pharmaceuticals segment, in terms of volume, is projected to grow at a CAGR of 6.3%.
U.S. accounted for more than one-fourth share of the world salicylic acid market revenue in 2015.
OTC is projected to grow at fastest rate, with a CAGR of 7.1%.
Sunscreen is expected to grow at the highest CAGR of 9.2%.
Conditioner is the fastest growing segment in the hair care sector, growing at a CAGR of 7.5%.
Asia-Pacific is preferred by the new entrants due to the increase in demand for personal care products. Consumer awareness about its benefits in personal care products has increased in the recent years, which has influenced the demand for salicylic acid. The Asia-Pacific salicylic acid market is expected to grow at a high CAGR of 6.6%, followed by North America with a CAGR of 5.9%. North America, dominant due to the high demand in the pharmaceutical and cosmetics industries, and Europe collectively contributed more than 50% share of the world salicylic acid market revenue in 2015.
The prominent players profiled in this report include Zhenjiang Gaopeng Pharmaceutical Co., Ltd. (China), Hebei Jingye Group (China), Shandong Xinhua Longxin Chemical Co. Ltd. (China), Simco QC (Canada), Siddharth Carbochem Products Ltd. (India), Novacap (France), J.M. Loveridge Ltd. (UK), Alta Laboratories Ltd. (India), and Alfa Aesar (UK).
- Zhenjiang Gaopeng Pharmaceutical Co Ltd (China)
- Hebei Jingye Group (China)
- Shandong Xinhua Longxin Chemical Co Ltd (China)
- Simco QC (Canada)
- Siddharth Carbochem Products Ltd (India)
- Novacap (France)
- JM Loveridge Ltd (UK)
- Alta Laboratories Ltd (India)
- Alfa Aesar (UK)
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.