Industry Trend Analysis
The
Salicylic Acid market was valued around USD 0.28 Billion in 2014 and is
expected to reach roughly USD 0.46 Billion by the end of 2022 while registering
itself at a compound annual growth rate (CAGR) of 5.49% during the forecast
period due to the growing demand of salicylic acid for production of cosmetic,
hair care and skincare products on account of rising awareness among customers
regarding benefits of it. Salicylic acid is widely used in the production of
aspirin. Growing aspirin tablets consumption owing to better pain relieving
together with easy accessibility of the medicines is anticipated to boost its
demand. Though, growing concerns about the fallouts of aspirin are projected to
hinder the growth of the market. The global salicylic acid market is extremely
fragmentized, classified by a few manufacturers with diverse evaluation
patterns by the application. Industrially, it is fabricated by chemical fusion
of phenol. The growth of the gas & oil industry in the United States and
the Middle East is likely to augment the phenol availability as a staple.
Additionally, increasing discovery & output of tight oil and shale gas is
anticipated to amplify the phenol supply that in turn is projected to boost the
demand over the forecast years. Though, contact to the large quantity of
salicylic acid has discovered to be injurious to the skin and also it can cause
skin irritation, blistering, and severe dryness. Growing awareness among
consumer regarding the side effects of salicylic acid is prone to push
customers towards organically derived yield including thyme, grape juice, tea
tree oil, and rosemary which can be utilized as a substitute of salicylic acid,
hence hampering the general growth of the market.
Competitive Outlook and
Trend Analysis
The major market players
for the global salicylic acid market are; J.M. Loveridge Ltd., Alfa Aesar,
Simco Chemicals, Alta Laboratories, Zhenjiang Gaopeng Pharmaceutical Co. Ltd.,
Siddharth Carbochem Products Ltd., and Novocap SA. The key product buyers
include skincare and haircare manufacturers like St. Ives, Clean & Clear,
and Neutrogena, pharma companies like Bayer, and preservatives & food
manufacturers like Mondelez, Tyson, and Heinz. The market is classified by
acquisitions and mergers as strategies to expand market share. For example, an
Argentina-based salicylic acid manufacturer, Novocap SA bought salicylic acid
and acetaminophen business of Rhodia Specialty Chemicals to establish a new
company named as Novacyl, in a shift to augment its market share existence and
market share.
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The global salicylic
acid market is segmented as follows –
By Application
- Pharmaceuticals
o PC
§ Wart Remover
§ Disinfectant
§ Antifungal
§ Dentifrices
§ Antiseptic
§ Anti-irritant
·
- OTC
- Scale
Lifter
·
o
- Ointment
- Skin Care
- Moisturizer
- Sunscreen
- Acne
Solution
- Hair Care
- Conditioner
- Shampoo
- Food
Preservatives & Others
By regions
- North America
o Canada
o U.S
o Mexico
- Europe
o Spain
o Germany
o UK
o France
o Italy
o Rest of Europe
- Asia-Pacific
o Japan
o India
o China
o Australia
o South Korea
o Rest of Asia Pacific
- Rest of the World
o Brazil
o United Arab Emirates
o South Africa
o Saudi Arabia
o Others
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