What is the Global market size of the Salicylic Acid Market?

Global Salicylic Acid Market size was valued at USD 510.8 million in 2021 and is poised to grow from USD 547.8 million in 2022 to USD 886.9 million by 2030, growing at a CAGR of 7.5% in the forecast period (2023-2030).

Who are the key vendors in the Global Salicylic Acid Market?

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. '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'

Which region accounted for the largest share in the Global Salicylic Acid Market?

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.

Salicylic Acid Market Size, Share, Growth Analysis, By Application, By Purity, By Form, By End User, By Region - Industry Forecast 2025-2032

Report ID: SQMIG15E2441 | Region: Global | Published Date: December, 2024
Pages: 165 | Tables: 38 | Figures: 73

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.

Salicylic Acid Market Report Snapshots

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Global Salicylic Acid Market size was valued at USD 508.9 million in 2022 and is poised to grow from USD 539.7 million in 2023 to USD 866.0 million by 2031, growing at a CAGR of 6.1% during the forecast period (2024-2031).

The Salicylic acid market is relatively fragmented, with a high level of competition. Few large players, like Thermo Fisher Scientific Inc., Merck KGAA, and Hebei Jingye Group., 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. 'Thermo Fisher Scientific Inc. ', 'Basf SE ', 'Merck KGAA ', 'Larachem Inc ', 'Midas Pharma GmBh ', 'Dhairya International ', 'Shanghai Sunwise Chemical Co. Ltd ', 'Cayman Chemical ', 'Glentham Life Sciences Limited ', 'Seqens ', 'New Alliance Fine Chem Private Limited ', 'Connote Healthcare ', '3s Corporation ', 'Dr. Alexander Lab Pvt Ltd ', 'AB Enterprises ', 'Alpha Chemika ', 'Shandong Xinhua Longxin Chemical Co., Ltd. ', 'Alta Laboratories ', 'Siddharth Carbochem Products Limited (SCPL) ', 'Hebei Jingye Group'

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.

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.

Europe region is dominating in salicylic acid market with substantial market share in 2023. Western Europe showcased potential market growth in demand of salicylic acid products particularly in pharmaceutical industry. The increasing incidents of skin disorders and chronic pain has driven the market growth in the region. In Addition, Europe’s increasing aging population is another driving force for salicylic acid based products which are used for pain relief and therapeutic applications.

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Salicylic Acid Market Size, Share, Growth Analysis, By Application, By Purity, By Form, By End User, By Region - Industry Forecast 2025-2032

Salicylic Acid Market Dynamics

Salicylic Acid Market Report Snapshots

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What is the global market size of Salicylic Acid Market?

Who are the key vendors in the Salicylic Acid Market?

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Which region accounted for the largest share in Salicylic Acid Market?

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