The global salicylic acid market generated $431.7 million in 2020, and is estimated to generate $886.9 million by 2030, witnessing a CAGR of 7.5% from 2020 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario
Increase
in demand from the preserved food & beverage industry and rise in
demand for personal care products drive the growth of the global
salicylic acid market. However, surge in consumer awareness about
harmful effects restrains the market growth. On the other hand, adoption
of salicylic acid in pharmaceuticals and cosmetics along with increase
in demand for aspirin drugs present opportunities in the coming years.
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By Application
Pharmaceutical
Skin Care
Hair Care
Food Preservatives & Others
The report offers detailed segmentation of the global salicylic acid market based on application and region.
Based
on application, the pharmaceutical segment accounted for the highest
share in 2020, contributing to more than three-fourths of the total
share, and is projected to continue its lead position during the
forecast period. However, the skin care segment is expected to witness
the largest CAGR of 9.2% from 2021 to 2030.
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Based
on region, Asia-Pacific held the highest share in 2020, accounting for
more than one-third of the total market share, and is projected to
continue its dominant share by 2030. Moreover, this region is projected
to portray the fastest CAGR of 7.8% during the forecast period. The
research also analyzes the regions including North America, Latin
America, Europe, Africa, and Middle East.
Leading
players of the global salicylic acid market analyzed in the research
include Alfa Aesar, J.M. Loveridge Limited, Avonchem limited, Midas
Pharma GmbH, Novacyl, Solvay Merck KGaA, Wego Chemical Group, and
Reagents.
Key benefits for stakeholders
The
report outlines the current trends and future scenario of the market
from 2021 to 2030 to understand the prevailing opportunities and
potential investment pockets.
The salicylic acid market size is provided in terms of volume and revenue.
The report provides an in-depth analysis of the market along with the current and future salicylic acid market trends.
This
report highlights the key drivers, opportunities, and restraints of the
salicylic acid market along with impact analysis during the forecast
period.
The report also covers the impact of governmental regulations on the salicylic acid market.
Porter’s
five forces analysis helps analyze the potential of buyers &
suppliers and the competitive scenario of the industry for strategy
building.
The study provides a comprehensive analysis of the factors that drive and restrain the salicylic acid market growth.
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