Salicylic Acid Market Size, Segmentation, Opportunities, Trends, Growth and Industry Forecast To 2022 by Credence Research
According to a new market report published by Credence
Research, “Salicylic Acid Market -
Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 -
2022,” the salicylic acid market was valued at US$ 0.25 Bn in 2015,
and is expected to reach US$ 0.44 Bn by 2022, expanding at a CAGR of 8.4% from
2016 to 2022.
Browse the full Salicylic Acid
Market for Pharmaceutical, Food & Preservative, Personal Care Products,
Cosmetics and Other Applications- Growth, Share, Opportunities, Competitive
Analysis, and Forecast 2015 – 2022 report at http://www.credenceresearch.com/report/salicylic-acid-market
Market Insights
Salicylic acid is an organic acid
which is naturally found in the bark if willow tree. The bark of willow tree is
used for medicinal purpose since centuries. The medicinal use of salicylic acid
was documented by ancient Greek physician in 5th century BC. It was used for
reducing fever, pains and aches. In the modern world, salicylic acid is used
primarily in painkillers and aspirins for curing aches and pains. It is also
used for the treatment of psoriasis, callus and corns. It is also used in
curing acnes and blemishes. Salicylic acid peels off dead skin and helps clean
pores to treat and prevent acne. These properties of salicylic acid have led to
high demand from the pharmaceutical and personal care products industry.
Growing awareness for well being and
health among the people in emerging economies has led to high demand and
consumption of skin care and hair care products, thereby leading to growth of
salicylic acid in the market. Rising demand from the pharmaceutical industry is
another factor driving the growth of global salicylic acid market. In addition,
increasing use of processed food and flavored drinks has also led to booming
demand for salicylic acid from the food industry. Salicylic acid is used as a
food preservative as it has antiseptic properties. Changing and busy lifestyle
of people has led to high demand for processed food which has increased the use
of salicylic acid in the food industry. The personal care and cosmetics
industry is also expected to contribute to the growth of global salicylic acid
market.
Competitive Insights:
Pharmaceuticals accounted for the
major share of more than 30% of global salicylic acid market in 2015. Rising
demand is experienced for aspirin and pain killers for various diseases and
pains. Therefore, pharmaceutical industries are expected to generate high
demand for salicylic acid in the market. The growing awareness among the people
for well being and health has increased the demand for skin and hair care
products. Salicylic acid is used on a large scale in production of
various skin care and hair care products. It helps preventing acne and aids the
treatment of various diseases like psoriasis, callus, corns, etc. Hence,
personal care products industry is also expected to fuel demand for global
salicylic acid market in the near future. Moreover, apart from medicinal
properties, salicylic acid is also used in the food industry as a food
preservative. The antiseptic property of salicylic acid keeps the food safe for
a longer duration of time. Food industry is also anticipated to fuel demand for
salicylic acid in the market during the forecast period.
Key players dominate the global
salicylic acid market making the entry of new players difficult. These
companies have already established its position in the market because of high
demand for salicylic acid from pharmaceutical and personal care product
industry worldwide. Therefore, high competition is observed between the
salicylic acid producers in the market to gain a strong foothold globally.
Key Trends:
·
Psoriasis Treatment
·
Advanced Painkiller and Ailments
·
Food preservative
·
Growth opportunities in cosmetic
industry
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