Salicylic Acid Market Overview:
Salicylic acid market was valued at $333 million in 2015 and is expected to reach $504 million by 2022, supported by a CAGR of 6.3% during the forecast period 2014 - 2022. Salicylic acid is a monohydroxybenzoic acid derived from plants such as willow tree and salix. It is extensively used as a wart remover, antiseptic, pain reliever, disinfectant and food preservative around the globe owing to its anti-inflammatory, comedolytic, fungicidal, anti-microbial and keratolytic properties.
Salicylic acid is a significant compound in various industrial sectors including pharmaceuticals, cosmetics and healthcare owing to its expanding applications in treatment of diseases such as psoriasis, acne, dandruff and others. Main products produced using salicylic acid in pharmaceutical sector include acetylsalicylic acid, methyl salicylate, salicylic acid amine, phenyl salicylate and sodium salicylate.
Aspirin (acetylsalicylic acid) is the most important product manufactured using salicylic acid. The manufacturing process of aspirin involves esterification of acetic anhydride and salicylic acid in presence of sulfuric acid which works as a catalyst. Aspirin is a synthetic drug extensively used to relieve pain, inflammation and reduce fever. Salicylic acid plays a significant role in haircare and skincare industry as it is widely used in treatment of inflammatory and dermatological diseases. Salicylic acid manufacturers comply carefully with the regulatory norms set by the public authorities in U.S., Asia and Europe to safeguard human health.
Patents are valuable assets for companies and are registered to protect the newly launched technologies and products. The total number of salicylic acid-related patents registered in the time period of 2010‐2016 were 210. The highest number of patents related to salicylic acid registered in 2015 were 44, followed by 42 patents in 2014. The frequency of registration of patents accelerated rapidly by more than 95% after 2013 due to an increase in the R&D activities by the companies to introduce new products in the market with different salicylic acid compositions and uses.
The patents registered majorly includes salicylic acid gel, salicylic acid derivatives, improved products, petroleum products, and different formulation compositions. The salicylic gel production comprises at least 30% wt concentration of salicylic acid with other nitrogen compounds. These gels are used in diluted forms during the production of creams, lotion, shampoos, toners, ointments, and other solutions. The patents were registered related to different formulations of salicylic acid to form compounds used for effecting smoking cessation. The increased demand for salicylic acid from different end users has resulted in the growth of the salicylic acid market across the globe.
SALICYLIC ACID PATENT REGISTRATIONS BY YEAR, 2010‐2016
Growing usage of salicylic acid in preserved food & beverage industry, surging demand for aspirin drug across the globe and increasing application scope in personal care products are the major factors driving the global salicylic acid market. Salicylic acid is employed in food & beverage industry as it prevents fermentation and spoilage of frozen & packaged foods. In addition, it increases shelf life of variety of products in food & beverages sector including wine, sauces, beer and others. Overexposure to salicylic acid is harmful to skin as it causes skin irritation, digestive disorders and breathing problems. Growing consumer awareness about these harmful effects can restrict the growth of this market moderately. Increasing acceptance of salicylic acid in medical cosmetics and surging demand from developing economies like Asia-Pacific offer a great potential for growth and development of salicylic acid market.
The global salicylic acid market is divided on the basis of application and geography. Salicylic acid is employed in diversified industries including pharmaceuticals, skin care, hair care, food & beverages, and others. Each application is further segmented into sub-categories such as pharmaceuticals is divided into PC and OTC; skincare is segmented into moisturizer, sunscreen, and acne solution; and haircare is classified into conditioner and shampoo. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
SALICYLIC ACID MARKET, BY APPLICATION, 2015
Top Investment Pockets
Skin care is the most attractive industrial sector in the global salicylic acid market and is expected to be the first preference for new entrants due to increasing use of salicylic acid personal care products and in treatment of dermatological diseases. Salicylic acid is employed in production of various moisturizers, sunscreen and acne solutions which are employed in routine use. Consumer awareness regarding the benefits of salicylic acid in such products has increased in recent years, which has influenced the demand for salicylic acid. Sunscreen segment in skincare grade salicylic acid market was valued at $8 million in 2015 and is expected to grow at a CAGR of 9.2% from 2016 to 2022.
SALICYLIC ACID MARKET ‐ TOP INVESTMENT POCKETS, BY APPLICATION
The market, with its surging demand in end applications, has witnessed high growth during the past few years, and this growth trend is estimated to continue in the future too. Key players are investing in R&D activities such as use of aspirin in treatment of cardiovascular diseases and development of increased applications for the products formed. 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), Novacap (France), J.M. Loveridge Ltd. (UK), Alta Laboratories Ltd. (India), and Alfa Aesar (UK).
SALICYLIC ACID MARKET KEY BENEFITS
- The report provides an in-depth analysis of the salicylic acid market and estimations from 2014 to 2022, 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.
SALICYLIC ACID MARKET KEY SEGMENTS
- Wart Remover
- Scale Lifter
- Skin Care
- Acne Solution
- Hair Care
- Food Preservatives & Others
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA