Salicylic Acid Market Analysis, Size, Share, Growth, KeyTrends and Forecast to 2020: Hexa Research

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Salicylic Acid Market Analysis, Size, Share, Growth, key Trends
and Forecast to 2020: Hexa Research
Salicylic acid is the organic acid extracted from willow black leaves and winter green plants. It is
mainly used as antiseptic, pain reliever and food preservative among other applications.
Salicylic acid is used as raw material in the production of aspirin. Salicylic acid has wide number
of advantages in curing diseases such as blemishes, acne and psoriasis among others. This
advantageous factor of salicylic acid has found vast application scope in pharmaceutical
industry. Moreover, salicylic acid is used in personal care & cosmetics industry owing to its
oxidation property. It is also used in functional foods as a preservative agent.
Increasing demand from pharmaceuticals has been the key factor driving salicylic acid market
over the recent past and the trend is expected to continue over the forecast period. Aspirin has
widespread application base in pharmaceutical industry. Salicylic acid is an important raw
material used in the production of aspirin. Increasing demand for aspirin from pharmaceutical
industry is the key factor expected to drive salicylic acid market over the next five years.
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Growing application scope of salicylic acid in personal care and cosmetic products such as hair
care and skin care products is expected to augment the market growth over the forecast period.
Increasing awareness and health concerns towards healthy skin and healthy hair is expected to
drive the demand for cosmetics & personal care products, which in turn likely to fuel the salicylic
acid market growth over the foreseeable period. Moreover, increasing application scope of
salicylic acid in foods & preservatives industry is expected to complement the market growth
over the forecasted period. However, side effects caused by over usage of salicylic acid is
expected to hamper the market growth in personal care & cosmetics industry in near future.
Permissible level of salicylic acid in cosmetics such as shower gels, creams, conditioners and
shampoos is 0.5% to 2%. Salicylic acid has many advantages, when used under the
permissible limits. However, increasing demand from other end-use industries including
pharmaceuticals and foods & preservatives is expected to drive the market considerably over
the foreseeable period.
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Application Insights
Pharmaceutical was the largest application segment for salicylic acid in 2013 and is expected to
remain the dominating market over the next five years. Aspirin is one of the most selling drugs
across the globe. Aspirin has been gaining wide acceptance over the recent past owing to
increasing application scope of aspirin in major drugs. This trend is expected to drive salicylic
acid market at a good pace over the forecast period. Foods & preservatives is the second major
market for salicylic acid followed by personal care & cosmetics industry. Personal care &
cosmetics industry is anticipated to witness significant growth over the next five years on
account of increasing demand for hair care and skin care products across the globe. Rising
environmental effects on human body over the last few years led to increase in demand for
moisturizers, body lotions and other skin care products, which is expected to be the key driving
factor for the market growth.
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Regional Insights
Europe witnessed to be the largest market for salicylic acid in 2013 and is expected to witness
significant growth over the forecast period. Owing to increasing demand for skin care and hair
care products, salicylic acid demand has been increasing in this region. Asia Pacific is the
fastest growing market over the last five years on account of increasing demand from
pharmaceutical and cosmetics industry in this region.
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Competitive Insights
Salicylic acid market is highly dominated with less number of market participants operating
globally. However, there are many SMSEs in China producing industrial grade salicylic acid at
relatively low cost. Some key players in this market include J.M. Loveridge Ltd., Novacap
Group, Alfa Aesar and SIMCO Chemicals Inc
Table of Contents
Chapter 1 Executive Summary
1.1 Salicylic Acid - Industry Summary & Critical Success Factors (CSFs)
Chapter 2 Salicylic Acid Industry Outlook
2.1 Market Segmentation
2.2 Market Size and Growth Prospects
2.3 Salicylic Acid Value Chain Analysis
2.4 Salicylic Acid Market Dynamics
2.4.1 Market driver analysis
2.4.1.1 Growing use of salicylic acid in cosmetics
2.4.1.2 Growing market for aspirin
2.4.2 Market restraint analysis
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2.4.2.1 Consumer perception regarding side effects of salicylic acid
2.5 Key Opportunities Prioritized
2.6 Industry Analysis - Porter’s
2.7 Salicylic Acid - PESTEL Analysis
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Salicylic acid is the organic acid extracted from willow black leaves and winter green plants. It is mainly used as antiseptic, pain reliever and food preservative among other applications. Salicylic acid is used as raw material in the production of aspirin.