Salicylic Acid Market Life Cycle Analysis | Industry Growth & Demand Rate | Forecast Report, 2023

The Global Salicylic Acid Market research report offers a complete breakdown of the industry scope, assumptions, segmentation, key strategies, revenue, shares, and size of top players. This syndicated research report also provides application, regional, product insights, and offers ready, data-driven answers to many industry-level questions.

Market Insights:

The Global Salicylic Acid Market is estimated to develop at a substantial CAGR of 6.4% for the duration of the prediction. It is obtained from the usual source i.e., woof of willow tree or produced by chemical mixture of phenol, on the commercial basis. Increasing demand for salicylic acid in the production of skin care cosmetic and haircare products due to increasing customers’ awareness about its paybacks is projected to motivate the demand above the prediction period. It is broadly utilized in the production of aspirin. 

Key Players:

• Alta Laboratories
• Gaopeng Pharmaceutical
• Jingye Group
• JQC Pharmaceutical
• LCP Leuna Carboxylation Plant
• Maoyuan Chemical

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Growth Drivers:

Growing ingestion of aspirin tablets due to greater pain relieving act coupled with easy obtainability of the medicine, is estimated to boost the demand for it. On the other hand, growing concerns about the side effects of aspirin are likely to obstruct the progress of the market. Increasing usage of it and its byproducts in the foodstuff and liquid refreshment manufacturing to avert fermentation and decomposition is estimated to upsurge the demand. Furthermore, increasing usage in the form of preservatives is expected to extend the shelf life of foodstuffs like wine, beer and sauces.

Market Segment:

Key Applications
• Pharmaceutical
• Cosmetics
• Agrochemicals
• Dyes
• Rubber Chemicals

Key Regions
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

Regional Insights:

By the source of geography, Europe was responsible for the considerable stake of the market. It was more than 30% during the year 2015, due to increase in the manufacture of haircare and skincare products. It is pushed by growing alertness regarding hygiene and health in the area. The other growing factor could be growing acceptance of aspirin for the treatment. Yet, strict guidelines enforced by the European Commission about the usage of salicylic acid are expected to upset the progress of the market.

The Latin American market is projected to witness progress of more than 8.0% above the prediction period. Growing demand for wrapped foodstuff merchandises has headed to the development in the demand for preservatives. The compound of Salicylic Acid is the most important constituent in the preservative. Furthermore, growing demand for medicinal cosmetics associated with increasing usage of salicylic acid centered medicinal merchandises due their influence on sicknesses for example Dementia and Hughes Syndrome are projected to motivate the progress of the market above the prediction period.

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