USD 510.8 million
Salicylic Acid Market Size, Share, Growth Analysis, By Application(Pharmaceutical, Skin Care, Haircare, Food Preservatives), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2441 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
38
|Figures:
73
Salicylic Acid Market Insights
Salicylic Acid Market size was valued at USD 510.8 million in 2019 and is poised to grow from USD 547.8 million in 2023 to USD 886.9 million by 2031, growing at a CAGR of 7.5% in the forecast period (2024-2031).
Salicylic acid is a beta-hydroxy acid that has the formula C7H6O3 and is a lipophilic monohydroxy benzoic acid. It is a type of phenolic acid. In terms of its physical properties, it is a crystalline organic acid that has no smell and no color. Salicylic acid is used in the pharmaceutical and personal care industries as a middle step.
Salicylic acid is used to make haircare and skin care products, and consumers are becoming more aware of its benefits. This is expected to drive demand over the forecast period. Aspirin is often made with a lot of salicylic acids. Aspirin tablets are likely to be in higher demand because they relieve pain better and are easy to get. But growing worries about the side effects of aspirin are likely to slow the growth of the market. Aspirin is known to cause several side effects, such as drowsiness, rashes, cramps, stomach upset, abdominal pain, headaches, and more.
US Salicylic Acid Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Pharmaceutical
Fastest Growth
Pharmaceutical
Growth Rate
7.5% CAGR
Global Salicylic Acid Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Salicylic Acid Market Segmental Analysis
Salicylic Acid Market is segmented based on application and region. Based on application, the Salicylic Acid Market is segmented into pharmaceuticals, skincare, haircare, food preservatives, and other applications. Based on region, the global Salicylic acid market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Salicylic Acid Market Analysis by Application
In 2021, the pharmaceutical segment accounted for the largest market share more than 58%, and is expected to grow at a steady pace during the analysis period. Because of its anti-inflammatory effects, salicylic acid is a common ingredient in many over-the-counter medications. It interacts with acetic acid to create aspirin and is therefore essential to the process. Aspirin is a common pain reliever and is also used to reduce fever, ease congestion, and alleviate coughing. It also delivers exceptional pain-relieving activity, which has led to an increase in its use and its status as one of the world's best-selling prescription pharmaceuticals.
Global Salicylic Acid Market By Application
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Salicylic Acid Market Regional Insights
In terms of revenue, Asia-Pacific is expected to grow at a CAGR of 7.8% over the forecast period. This is because countries like China and Japan have big economies. In these economies, the number of people who buy things like personal care and medicines is growing quickly. Also, there are major industrial players in the area, especially in China. Also, the cheap price of salicylic acid is the main thing that gives Chinese companies a competitive edge.
Africa is also expected to grow at a CAGR of 7.6% over the next few years in terms of revenue. The pharmaceutical market in Africa is growing because there aren't enough medicines in many countries. Also, the growing fashion industry could lead to more people buying skin care products. This could increase the need for salicylic acid and be the market's main driver over the next few years. Also, as cities grew quickly, the number of salons grew, which led to a rise in the demand for products with salicylic acid.
Global Salicylic Acid Market By Region
- Largest
- Fastest
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Salicylic Acid Market Dynamics
Salicylic Acid Market Driver
- The growing demand for packaged food and beverages is the primary factor that drives the market for salicylic acid. This factor is leading to the expansion of the salicylic acid market. This is mostly attributable to the fact that the usage of salicylic acid in the food and beverage sector is on the rise, as it helps to prevent the rotting and fermentation of packaged food goods. This is a major contributor to this phenomenon.
- Growing pharmaceutical industries in Asia-Pacific and Africa will give salicylic acid market growth. Asia-Pacific is the fastest-growing region due to a surge in demand for salicylic acid in shampoos, lotions, creams, moisturizers, and oral care treatments. China, Japan, and India drive this region's growth and drive the salicylic acid market.
Salicylic Acid Market Restraint
- The food and beverage business as well as the cosmetics industry are both heavily regulated, which is a feature that poses a challenge for the market for salicylic acid. The availability of substitutes is another factor that makes the salicylic acid market less attractive.
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Salicylic Acid Market Competitive Landscape
The Salicylic acid market is relatively fragmented, with a high level of competition. Few large players, like Alfa Aesar, J.M. Loveridge Ltd, and Alta Laboratories Ltd., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Salicylic Acid Market Top Player’s Company Profiles
- Alfa Aesar
- Alta Laboratories Ltd.
- Simco Chemicals
- Novacap
- Siddharth Carbochem Products Ltd.
- Zhenjiang Gaopeng Pharmaceutical Co., Ltd.
- Siddharth Chemicals
- Hebei Jingye Group
- J.M. Loveridge Limited
- JQC (Huayin) Pharmaceutical Co., Ltd.
- Shandong Xinhua Pharmaceutical Co., Ltd.
- Samrat Remedies Limited
- Jeevika Yugchem Private Limited
- Siddharth International
- Siddharth Chlorochem Pvt. Ltd.
- Alta Laboratories Limited
- Siddharth Carbochem Products Ltd.
- Zhenjiang Gaopeng Pharmaceutical Co., Ltd.
- Neelkanth Finechem LLP
Salicylic Acid Market Recent Developments
- In January 2020, Boots UK Ltd. introduced a new line of cosmetics and skincare based on the use of natural ingredients. To make the skin appear less oily without completely stripping it of its natural moisture, the product line includes a BHA salicylic acid serum. As a result, the skin will seem revitalized and hydrated.
- In May 2019, The Ordinary, a skincare company, just introduced a new face mask called Salicylic Acid 2% Masque. In addition to the salicylic acid that serves as the product's primary cleansing agent, it also contains charcoal and clays.
Salicylic Acid Key Market Trends
- Salicylic acid is used on a large scale to treat a variety of dermatological conditions. Additionally, there has been an increase in the production of salicylic acid derivatives, such as aspirin, sodium salicylate, and salicylic acid amine, for use in the pharmaceutical sector. These two factors are the primary drivers of the salicylic acid market in this region.
Salicylic Acid Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Salicylic acid is a beta-hydroxy acid that has the formula C7H6O3 and is a lipophilic monohydroxy benzoic acid. Aspirin tablets are likely to be in higher demand because they relieve pain better and are easy to get. Growing worries about the side effects of aspirin are expected to slow the growth of the market. Based on industry, the market is segmented into E-commerce, Healthcare, Retail, Food & Beverage, Automotive, and Others. Based on region, the global Salicylic acid market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 510.8 million |
| Market size value in 2031 | USD 886.9 million |
| Growth Rate | 7.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Salicylic Acid Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Salicylic Acid Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Salicylic Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Salicylic Acid Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Salicylic Acid Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Salicylic Acid Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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