Dublin, Sept. 29, 2023 (GLOBE NEWSWIRE) -- The "Salicylic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global salicylic acid market has demonstrated substantial growth, reaching a market size of US$ 420.2 million in 2022. Projections indicate continued expansion, with the market anticipated to reach US$ 613.1 million by 2028, reflecting a robust compound annual growth rate (CAGR) of 6.7% during the period from 2023 to 2028. The report provides comprehensive insights into the market's performance, trends, drivers, and more.
Salicylic Acid: A Versatile Organic Compound
Salicylic acid is an organic white crystalline solid with the chemical formula C7H6O3. It can be obtained naturally from plants like the willow tree and salix or produced synthetically using sodium phenolate and carbon dioxide. Salicylic acid possesses various properties, including fungicidal, anti-inflammatory, keratolytic, comedolytic, and antimicrobial characteristics, making it valuable in the cosmetics, healthcare, and pharmaceutical industries. In cosmetics, salicylic acid is used for moisturizing and dissolving substances that cause skin layers to adhere.
Global Salicylic Acid Market Trends and Drivers:
Several factors are driving the growth of the global salicylic acid market:
- Pharmaceutical Applications: Salicylic acid plays a pivotal role in the pharmaceutical industry, contributing to the production of numerous medicines such as acetylsalicylic acid (aspirin), phenyl salicylate, salicylic acid amine, methyl salicylate, and sodium salicylate. The increasing demand for these medications, driven by the rise in human infectious diseases, is creating a lucrative market for salicylic acid.
- Personal Care Products: Salicylic acid is used in the manufacturing of haircare and skincare products. It nourishes the skin, treats acne on oily skin, removes dead skin cells, and reduces skin discoloration. The growing consumer awareness regarding these products is fueling market growth.
- Food & Preservatives: Salicylic acid is also used in the food industry as a preservative.
- Muscle and Joint Pain Liniments: Derivatives of salicylic acid, such as chlorine salicylate and methyl salicylate, are used as liniments for relieving muscle and joint pain, contributing to increased demand.
Market Segmentation:
The market report provides a detailed analysis of the global salicylic acid market, with segmentation based on application:
- Pharmaceuticals: Representing the largest segment.
- Personal Care: Contributing to the growing demand for skincare and haircare products.
- Food & Preservatives: Including the use of salicylic acid as a preservative.
- Others: Encompassing various applications.
Regional Analysis:
The market has been segmented regionally into North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America.
Imports and Exports:
India stands out as the largest importer of salicylic acid, while China holds the distinction of being the biggest exporter.
Leading Players:
Key companies operating in the global salicylic acid market include:
- Alfa Aesar (Thermo Fisher Scientific)
- Alta Laboratories Limited
- JM Loveridge Limited
- Novacap, Inc.
- Sigma-Aldrich Chemicals Private Limited
- Siddharth Carbochem Products Limited
- And more.
Recent Developments:
Recent developments in the market include:
- Ongoing innovation and product enhancement by leading companies to offer high-quality, premium grooming solutions.
- Expanding use of salicylic acid in virtual reality (VR) and augmented reality (AR) applications for character creation and virtual environments.
- Collaborations between grooming product manufacturers and educational institutions to integrate 3D animated content into e-learning platforms.
Key Questions Addressed:
The market report answers key questions, including:
- How has the global salicylic acid market performed to date and what is its future outlook?
- Which regions are the primary growth markets for salicylic acid?
- What impact has COVID-19 had on the global salicylic acid market?
- What are the key application segments in the global salicylic acid market?
- What are the major market trends?
- How is the market segmented by application?
- What are the key drivers and challenges in the market?
- What are the import and export trends of the global salicylic acid market?
- Who are the key players in the global salicylic acid industry?
- What is the level of competition in the market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 139 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $420.2 Million |
| Forecasted Market Value (USD) by 2028 | $613.1 Million |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/q28d5q
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