Global Salicylic Acid Market Analysis & Trends - Industry Forecast to 2030
Salicylic Acid: Market Size
From $553.14 million in 2024, the global Salicylic Acid market is projected to reach $1,062.88 million by 2030. Based on our analysis the market is expected to grow at a CAGR of 11.5% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include rapid adoption for the cosmetics application segment, growing demand of salicylic acid in food & preservative industry and rising demand across Asia pacific region majorly in china, and India, because of development of the pharmaceutical industry.
Global Salicylic Acid Market: Market Dynamics The factors such as the growing demand for salicylic acid in manufacturing haircare and cosmetic skincare products owing to growing consumer awareness regarding its benefits, and rising utilization of by-products of salicylic acid including methyl salicylate and chlorine salicylate for the joint and muscle pain are driving the market growth.
On the other hand, the stringent regulations regarding the permit limitation for salicylic acid in various products is likely to obstruct the profit boundaries.
Impact of COVID-19 on Salicylic Acid The COVID-19 pandemic has had a twofold influence on salicylic acid market patterns as it has progressed. Initially, demand for salicylic acid fell dramatically in the first half of 2020, as the great majority of customers focused on stocking up on basic household items, resulting in lower sales of cosmetics and personal care products. Furthermore, government limitations imposed to slow the spread of the coronavirus caused severe supply chain and logistical disruptions, resulting in raw material shortages and manufacturing delays.
By Application
Food & Preservatives Segment is Growing at a Highest CAGR The food and preservatives segment is expected to have lucrative growth in the forecast period due to increasing use of salicylic acid and its derivatives in the food and beverage industry to prevent spoilage and fermentation.
By Geography
Europe is Leading in the Global Market Place Europe region is likely to have a huge demand in the forecast period due to a burgeoning skincare and haircare sector fueled by rising health and hygiene awareness in the region Additionally, rising use of aspirin to treat and prevent disorders like strokes and dementia among the elderly population is likely to fuel market expansion over the forecast period.
List of the Key Players Profiled in the Market Include: • Alfa Aesar • Zhenjiang Gaopeng Pharmaceutical Co. Ltd • Hebei Jingye Group • Shandong Xinhua Longxin Chemical Co. Ltd • Siddharth Carbochem Products Ltd • Thermo Fisher Scientific • Alta Laboratories Ltd • Merck & Co. Inc. • J.M. Loveridge Ltd • Spectrum Chemical Manufacturing Corp • Seqens SAS • Novacap • Simco Chemicals Inc.
List of the Regions/Countries Profiled in the Market Include: North America • US • Canada • Mexico Europe • Germany • U.K • Italy • France • Spain • Rest of Europe Asia Pacific • China • Japan • India • Australia • New Zealand • Rest of Asia Pacific Middle East • Saudi Arabia • UAE • Rest of Middle East Latin America • Argentina • Brazil • Rest of Latin America Rest of the World (RoW) • South Africa • Others
1 Market Outline
1.1 Definition
1.2 Market Segmentation & Scope
1.3 Market Trends
1.4 Regulatory Factors
1.5 Application Analysis
1.6 Strategic Benchmarking
1.7 Opportunity Analysis
2 Executive Summary
3 Research Methodology and Data Source
3.1 Methodology/Research Approach
3.1.1 Research Programs/Design
3.1.2 Market Size Estimation
3.2 Data Source and Assumptions
3.2.1 Purchased Database
3.2.2 Company Repository
3.2.3 Secondary Sources
3.2.4 Primary Research
3.2.5 List of Assumptions
4 Market Overview
4.1 Current Trends
4.1.1 Rapid Adoption for the Cosmetics Application Segment
4.1.2 Growing Demand of Salicylic Acid in Food & Preservative Industry
4.1.3 Rising Demand Across Asia Pacific Region Majorly in China, And India, Because of Development of the Pharmaceutical Industry