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Salicylic Acid Market By Application (Pharmaceutical, Food & Preservative, Personal Care Products, Cosmetics) - Growth, Share, Opportunities & Competitive Analysis, 2015 - 2022

Salicylic acid is an organic acid available for centuries globally. It is a colorless and odorless crystalline powder. It is extracted naturally from the bark of the willow tree. For centuries people have been using salicylic acid as a medicinal product to reduce fever, aches, and pains. In addition, salicylic acid has anti-inflammatory properties, which makes it an essential acid in the pharmaceutical industry. Therefore, the pharmaceutical sector reports growing demand for salicylic acid worldwide. Salicylic acid is also used to produce cosmetic and personal care products. The beneficial properties of salicylic acid in peeling off dead skin have created enormous opportunities for growth in the cosmetic industry.

 

Growing awareness of well-being and health among people, especially in emerging economies, has led to the use of cosmetic and personal care products. The useful properties of salicylic acid have led to high demand from the cosmetic industry. Therefore, personal care products and the cosmetic industry are also expected to contribute to the growing demand and growth of the salicylic acid market during the forecast period from 2016 to 2022. Food and preservatives is another sector responsible for high demand in the salicylic acid market due to their antiseptic property. Salicylic acid is used as a food preservative on a large scale in the food industry. Hence, food and other applications are also expected to boost market demand for salicylic acid in the near future.The salicylic acid market was valued at US$ 253.7 Mn in 2015 and is expected to reach US$ 445.0 Mn by 2022, growing at a CAGR of 8.4% during the forecast period 2016-2022.

 

Purpose of the Report

The purpose of this strategic research study titled "Global Salicylic Acid Market - Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2022" is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the opportunities in the global salicylic acid market.

 

Target Audience

  • Industry Investors
  • Salicylic Acid Providers/Vendors
  • Research Professionals
  • Emerging Companies
  • Raw Material Suppliers/ Buyers
  • Product Suppliers/ Buyers
  • Research Institutes

Application Segmentation Analysis

 

Based on its end use, the salicylic market is categorized into the following applications:

  • Pharmaceutical
  • Food & Preservative
  • Personal Care Products
  • Cosmetics
  • Others (Derivatives, Industrial, etc.)

 

Pharmaceuticals accounted for the largest share of the global salicylic acid market in 2015. The medicinal properties of salicylic acid, such as reducing pain and aches, have led to high demand from the pharmaceutical industry. Various painkillers and ointments are manufactured from salicylic acid in the market. For instance, salicylic acid is used in the production of medicine which helps in the treatment of psoriasis. Therefore, high demand for salicylic acid is witnessed by the pharmaceutical industry and is expected to increase shortly. Personal care products accounted for more than 20% of the global salicylic acid market in 2015. Salicylic acid is used in the manufacture of many personal care products. This acid has the property of curing blemishes which are now used for acne treatments worldwide. The increasing use of beauty products among the population has given rise to the demand for personal care products in the market. Hence, increasing demand for salicylic acid from the personal care products industry is expected to drive the growth of the global salicylic acid market.

 

The major factors driving the growth of salicylic acid in the market are the rising demand for aspirin in the market. In addition, high demand for a wide range of personal and skin care products is also expected to contribute to the growth of the salicylic acid market. Therefore, other applications, such as cosmetics and industries, are also likely to boost market demand for salicylic acid during the forecast period from 2016 to 2022.

 

Salicylic acid has existed for centuries as it is found naturally in the bark of willow trees. It has been used for centuries as an ailment. It has been used for various products in areas such as cosmetics, skincare, stomach relief, etc. Salicylic acid is known as a wonder drug due to its beneficial properties.Salicylic acid was introduced to the market by the Greek physician Hippocrates. Hippocrates discovered salicylic acid in the 5th century BC. Through his research, he came to an analysis that the dry powder extracted from the bark of the willow tree could relieve pains and aches. It could also reduce fever. This remedy is also written in ancient Lebanon, Sumer, and Assyria. Native Americans and Cherokee used the bark of the willow tree for fever and various medicinal purposes for several years.

 

The inner part of the bark has medicinal properties and is used in the production of medicines. The Reverend Edward Stone from Oxfordshire, England, discovered that willow bark was used to reduce fever in the year 1763. The active extract of the bark is known as Salicin, after the word white willow in Latin. In 1826, this extract was isolated and named after John Buchner in Germany. Later, in 1828, a more significant portion of the substance was extracted and isolated by a French pharmacist named Henri Laroux. Finally, an Italian chemist named Raffaele Piria could convert this extract into a chemical substance, Salicylic Acid. In 1839, German researchers extracted salicylic acid from the herb meadowsweet. This extract was beneficial but led to digestive problems such as bleeding, gastric irritation, and diarrhea. It could also lead to death if consumed in high doses.

 

Salicylic acid has the appearance of crystalline powder, which is colorless. It can be either odorless or may have a slight phenolic odor. It is sweet to taste and has a melting point of 159A degree Celsius. It has a relative density of 1.4 in comparison to water which has a density of 1. Salicylic acid is soluble in boiling water, ether, and alcohol. Salicylic acid is a stable compound, but some strong oxidizing agents like iodine, strong bases, and fluorine may lead to strong reactions. It can harm if ingested or absorbed through the skin. It is irritant and sensitive to light.

 

Salicylic acid functions on the dermis by softening keratin, one of the proteins in the dermis structure. On softening of the dermis, the skin sheds easily. Salicylic acid is called keratolytic in the form of medicines as they soften and ease the exfoliation of epidermal cells.

 

This acid also functions as a comedolytic medication as it breaks comedones and helps open clogged pores. It is also an analgesic when taken orally and is also an inflammatory drug. Salicylic acid helps in blocking the production of certain hormones known as prostaglandins which are released from damaged cells. If prostaglandins are not blocked, the release of other hormones takes place, which causes the nerves to be sensitive to pain. Hence, by blocking prostaglandins, the pain and inflammation are reduced to a great extent.

 

Salicylic acid, apart from its medicinal application, is also used for other applications in the market. It is used as a food preservative because of its antiseptic properties. It is used at low doses as it may be toxic in excess. Products containing salicylic acid cannot be used by people suffering from zinc deficiency. Salicylic acid was renowned as the best drug in the year 1898. It is a valuable substance as it causes an increase in the growth, flowering, and production of heat as it is a plant hormone. The other factors leading to the growth of salicylic acid are applications in the medical, cosmetic, and personal care products industries.

 

Europe accounted for the larger share of more than 30% of the global salicylic acid market in 2015. The growing demand for skin care products in the region has led to the growth of personal care products and cosmetic industries in the region. Therefore, high demand for salicylic acid is reported in cosmetic and personal care products in the area. The Asia Pacific was the fastest-growing salicylic acid market in 2015 due to the growing pharmaceutical industry in the region. In addition, the high demand for aspirin has led to the market's booming growth of salicylic acid. Therefore, Asia Pacific is projected to expand market demand and offer high growth opportunities for salicylic acid in the near future. Other regions such as North America, the Middle East & Africa, and the Rest of the World are also anticipated to fuel demand for salicylic acid due to the increasing use of beauty products and demand for processed food in the regions.

 

Frequently Asked Questions:

The market for Salicylic Acid is expected to reach Us$ 0.44 Bn in 2028.

The Salicylic Acid market is expected to see significant CAGR growth over the coming years, at 8.4%.

The report is forcasted from 2015-2022.

The base year of this report is 2021.

Alfa Aesar, Alta Laboratories Ltd, Hebei Jingye Group, JM Loveridge Limited., Novacap, Shadong Xinhua Longxin Chemical Co.,Ltd.,Siddharth Carbochem Products Ltd., Simco Chemical Inc. are some of the major players in the global market.

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Published Date:  Mar 2016
Category:  Food & Beverage
Report ID:   57744
Report Format:   PDF
Pages:   120
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