North America Salicylic Acid Market Size, Share & Trends Analysis Report By Application (Pharmaceutical, Skin Care, Hair Care, and Food Preservatives & Others), By Country and Growth Forecast, 2023 - 2030
The North America Salicylic Acid Market would witness market growth of 6.7% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 43,612.42 tonnes, showcasing a growth of 5.9% (2019-2022).
Salicylic acid, with the chemical formula C7H6O3, is a beta hydroxy acid, a lipophilic monohydroxy benzoic acid, and phenolic acid. It possesses the physical characteristics of an odourless, colorless crystalline organic acid. Salicylic acid is used as an intermediate in the pharmaceutical and personal care sectors. The pharmaceutical sector has been a primary driver of the adoption of salicylic acid. As the key component in aspirin, one of the most widely consumed over-the-counter medications. The established safety profile of salicylic acid further facilitates its adoption in various pharmaceutical products.
The cosmetic industry has witnessed a surge in the adoption of salicylic acid, particularly in skincare products. Salicylic acid, which is well-known for its exfoliating qualities, is an essential component in cleansers, toners, masks, and spot treatments designed to treat acne and enhance skin texture. The adoption in this industry is driven by consumer demand for effective solutions to common skin concerns, and salicylic acid's efficacy in promoting clear and healthy skin has positioned it as a staple in many skincare formulations.
The Mexican Online Sales Association estimates that the domestic e-commerce sector was worth USD 19.7 billion in 2021, an increase of 27% over 2020. In 2021, there were 57.5 million users of Mexican eCommerce, up 11% from the previous year. Hence, the factors mentioned above will drive the regional market growth.
The US market dominated the North America Salicylic Acid Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $213 million by 2030. The Canada market is experiencing a CAGR of 9.1% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 8.1% during (2023 - 2030).
Based on Application, the market is segmented into Pharmaceutical, Skin Care, Hair Care, and Food Preservatives & Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Thermo Fisher Scientific, Inc.
- Avonchem Ltd.
- Hebei jingye group
- Siddharth Carbochem Products Ltd.
- Larachem Inc.
- Merck KGaA
- Midas Pharma Gmbh
- Novocap S.A.
- Shandong Xinhua Pharmaceuticals Co., Ltd.
- Solvay SA
By Application (Volume, Tonnes, USD Million, 2019-2030)
- Pharmaceutical
- Skin Care
- Hair Care
- Food Preservatives & Others
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Salicylic Acid Market, by Application
- 1.4.2 North America Salicylic Acid Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Opportunities:
- 3.2.3 Market Restraints
- 3.2.4 Market Challenges:
- 3.3 Porter’s Five Forces Analysis
- Chapter 4. North America Salicylic Acid Market, By Application
- 4.1 North America Pharmaceutical Market, By Country
- 4.2 North America Skin Care Market, By Country
- 4.3 North America Hair Care Market, By Country
- 4.4 North America Food Preservatives & Others Market, By Country
- Chapter 5. North America Salicylic Acid Market, By Country
- 5.1 US Salicylic Acid Market
- 5.1.1 US Salicylic Acid Market, By Application
- 5.2 Canada Salicylic Acid Market
- 5.2.1 Canada Salicylic Acid Market, By Application
- 5.3 Mexico Salicylic Acid Market
- 5.3.1 Mexico Salicylic Acid Market, By Application
- 5.4 Rest of North America Salicylic Acid Market
- 5.4.1 Rest of North America Salicylic Acid Market, By Application
- Chapter 6. Company Profiles
- 6.1 Avonchem Ltd.
- 6.1.1 Company Overview
- 6.1.2 SWOT Analysis
- 6.2 Hebei jingye group
- 6.2.1 Company Overview
- 6.3 Larachem Inc.
- 6.3.1 Company Overview
- 6.4 Midas Pharma GmbH
- 6.4.1 Company Overview
- 6.5 Shandong Xinhua Pharmaceutical Co. Ltd
- 6.5.1 Company Overview
- 6.6 Thermo Fisher Scientific, Inc.
- 6.6.1 Company Overview
- 6.6.2 Financial Analysis
- 6.6.3 Segmental and Regional Analysis
- 6.6.4 Research & Development Expenses
- 6.6.5 SWOT Analysis
- 6.7 Merck KGaA
- 6.7.1 Company Overview
- 6.7.2 Financial Analysis
- 6.7.3 Segmental and Regional Analysis
- 6.7.4 Research & Development Expense
- 6.7.5 SWOT Analysis
- 6.8 Solvay SA
- 6.8.1 Company Overview
- 6.8.2 Financial Analysis
- 6.8.3 Segmental and Regional Analysis
- 6.8.4 Research & Development Expenses
- 6.8.5 SWOT Analysis
- 6.9 Novocap S.A.
- 6.9.1 Company Overview
- 6.10. Siddharth Carbochem Products Ltd.
- 6.10.1 Company Overview
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