Salicylic Acid Market

Salicylic Acid Market - Global Industry
Insights, Trends, 2016–2024
Salicylic acid is an organic white crystalline solid which is highly soluble in water. It is
derived from the metabolism of Salicin, which is an anti-inflammatory agent extracted
from willow bark. Salicylic acid is produced naturally from certain plants and can also be
produced synthetically. It can be produced naturally through a biosynthesis process of
phenylalanine—an amino acid found in certain plants. Salicylic acid is produced
synthetically by treating sodium phenolate, at high pressure and high temperature, with
carbon dioxide to yield sodium salicylate, which is later acidified using sulfuric acid to
yield salicylic acid. Salicylic acid is a multifunctional ingredient that has pain relieving
and anti-inflammatory properties. It is mainly used in manufacturing aspirin and other
personal care products. Consumption of aspirin is increasing in emerging economies of
Asia Pacific, which has resulted in growth of salicylic acid market at an annual growth
rate of 8% in the recent past.
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Prevalent Scenario in Salicylic Acid Market
Growing consumer awareness about the health benefits of salicylic acid-based skincare
and hair care products is a major factor fueling growth of the global salicylic market. The
hair care and skincare products offered by the manufacturers are in line with the current
trends of products offering various medical benefits such as dandruff removal, hair fall,
acne, psoriasis, or other skin diseases. Salicylic acid is a widely used commercial
chemical and forms an important component of aspirin. The rise in human infectious
diseases has resulted in large populations suffering from common fever, cough, and
cold, which inadvertently fuels demand for aspirin as a pain killer. This has in turn
resulted in increasing demand for salicylic acid. Apart from its use in aspirin, salicylic
acid is also used as a key additive in variety of pharmaceutical products such as drugs,
lotions, and ointments. Salicylic acid is incorporated into wide range of pharmaceutical,
personal care, and food applications and thus, manufacturers need to comply with
stringent regulations implemented by various international and local regulatory bodies,
especially in U.S. and Europe. Due to an increase in Gross Domestic Products (GDP) of
these regions, the global cosmetics industry has been growing by an average of 4.5%
over the last 20 years. Thus, the expansion of salicylic acid market is greatly influenced
by the increasing demand from North America and Europe regions. Salicylic acid is also
used in a wide range of food processing applications to prevent spoilage of packaged
food products and fermentation.
Safety of cosmetics is a major concern, as the ingredients used in manufacturing the
cosmetic products can have adverse health effects and can result into severe dryness,
skin blistering, and skin irritation. As the cosmetics industry is expanding, there
increasing number studies carried on safety of these products and are regulated by
related authorities. The ever-changing and evolving regulatory scenario results in high
costs for research and development in order to ensure compliance. This hampers
growth of the market to a certain extent. Rising consumer awareness about the harmful
effects of beauty ingredients is driving the consumer demand for naturally derived
products from grapes, rosemary, thyme, and tree oil as an alternative.
Fragmented Market
The Global Salicylic Acid market is highly fragmented due to the participation of many
established and emerging players in the digital genome market. Major players involved
in the market include Alfa Aesar (U.K.), Alta Laboratories Ltd. (India), Hebei Jingye
Group (China), JM Loveridge Limited (U.K.), Novacap (France), Shadong Xinhua
Longxin Chemical Co., Ltd. (China), Siddharth Carbochem Products Ltd. (India), Simco
Chemical Inc. (Canada), Zhenjiang Gaopeng Pharmaceutical Co., Ltd. (China).
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Salicylic Acid Market report categorizes global market by application and other such industry segments - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024