Salicylic Acid is a sort of phenolic acid as well as a beta hydroxy acid. When it comes to physical properties, salicylic acid is both colorless and odorless.
Salicylic acid has a myriad of pharmaceutical applications in today’s world. It is used as a disinfectant, wart remover, anti-irritant, antiseptic, ointment, scale lifter, antifungal, and dentifrices.
Moreover, salicylic acid has uses in the skincare domain as well. For instance, salicylic acid is used as an acne solution, moisturizer, and sunscreen. Not only skincare but salicylic acid comes with loads of applications in hair care as well. It is used in both shampoo and conditioner. Furthermore, salicylic also experiences a lot of uses in food preservatives and many other fields.
Market Overview of Salicylic Acid
- The global market of salicylic acid was estimated at $287.1 million in the year 2019. However, it is predicted to touch $490.8 million within 2027 at an 8.0% of CAGR (Compound Annual Growth Rate) from 2020 to 2027.
- In short, salicylic acid works as an intermediate in personal care industries. The same goes for the pharmaceutical industries as well. Moreover, the global market evaluation incorporates revenue, as per the report by salicylic acid along with its applications.
Salicylic Acid: Reasons for Market Growth
- Salicylic acid boasts anti-inflammatory properties. That is why it is a highly demanded compound in various industries, such as cosmetics, pharmaceutical, and personal care.
- Due to myriad uses, there are huge potential growth scopes for the worldwide salicylic acid market throughout the forecast period.
- Moreover, salicylic acid acts as the main component for producing aspirin. The worth-noting point is that aspirin is among the highest selling pharmaceutical drugs throughout the world. Furthermore, more and more people start opting for it due to its strong pain-relieving feature. Besides, aspirin is also an easily available drug.
- The uses of aspirin keep on increasing to relieve and check health disorders like dementia or strokes. Aged people are the main consumers of aspirin in this context. All these driving forces of aspirin are thereby paving the way for the market growth and opportunities of salicylic acid.
- Salicylic acid is one of the key ingredients in the personal care and cosmetics industry. It becomes possible due to the oxidation property of salicylic acid. Uncontrolled lifestyle or increased pollution has escalated the cases of whiteheads, warts, pimples, zits, and blackheads. That is why more and more consumers are choosing salicylic acid-based cosmetic products. Therefore, it is expected that the increased use of personal care products would accelerate the market growth of salicylic acid throughout the forecast period.
Global Salicylic Acid Market: What about the Segmentation?
Segmentation of the global salicylic acid market depends on two factors: region and application.
- In terms of application, the market is segmented into food preservatives & others, hair care, pharmaceutical, and skincare. The pharmaceutical division is further classified into Over-the-counter and Prescription drugs. Moreover, in terms of skincare, the segments include acne solution, sunscreen, and moisturizer.
- When it comes to the region, the market is expanded throughout LAMEA, North America, Asia-Pacific, and Europe.