Industry Insights
Salicylic acid is the organic acid extracted from willow black leaves
and winter green plants. It is mainly used as antiseptic, pain reliever
and food preservative among other applications. Salicylic acid is used
as raw material in the production of aspirin. Salicylic acid has wide
number of advantages in curing diseases such as blemishes, acne and
psoriasis among others. This advantageous factor of salicylic acid has
found vast application scope in pharmaceutical industry.
Moreover, salicylic acid is used in personal care & cosmetics
industry owing to its oxidation property. It is also used in functional
foods as a preservative agent. Increasing demand from pharmaceuticals
has been the key factor driving salicylic acid market over the recent
past and the trend is expected to continue over the forecast period.
Aspirin has widespread application base in pharmaceutical industry.
Salicylic acid is an important raw material used in the production of
aspirin.
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Increasing demand for aspirin from pharmaceutical industry is the
key factor expected to drive salicylic acid market over the next five
years. Growing application scope of salicylic acid in personal care and
cosmetic products such as hair care and skin care products is expected
to augment the market growth over the forecast period. Increasing
awareness and health concerns towards healthy skin and healthy hair is
expected to drive the demand for cosmetics & personal care products,
which in turn likely to fuel the salicylic acid market growth over the
foreseeable period.
Moreover, increasing application scope of salicylic acid in foods
& preservatives industry is expected to complement the market growth
over the forecasted period. However, side effects caused by over usage
of salicylic acid is expected to hamper the market growth in personal
care & cosmetics industry in near future. Permissible level of
salicylic acid in cosmetics such as shower gels, creams, conditioners
and shampoos is 0.5% to 2%. Salicylic acid has many advantages, when
used under the permissible limits. However, increasing demand from other
end-use industries including pharmaceuticals and foods &
preservatives is expected to drive the market considerably over the
foreseeable period.
Application Insights
Pharmaceutical was the largest application segment for salicylic acid
in 2013 and is expected to remain the dominating market over the next
five years. Aspirin is one of the most selling drugs across the globe.
Aspirin has been gaining wide acceptance over the recent past owing to
increasing application scope of aspirin in major drugs. This trend is
expected to drive salicylic acid market at a good pace over the forecast
period. Foods & preservatives is the second major market for
salicylic acid followed by personal care & cosmetics industry.
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Personal care & cosmetics industry is anticipated to witness
significant growth over the next five years on account of increasing
demand for hair care and skin care products across the globe. Rising
environmental effects on human body over the last few years led to
increase in demand for moisturizers, body lotions and other skin care
products, which is expected to be the key driving factor for the market
growth.
Regional Insights
Europe witnessed to be the largest market for salicylic acid in 2013
and is expected to witness significant growth over the forecast period.
Owing to increasing demand for skin care and hair care products,
salicylic acid demand has been increasing in this region. Asia Pacific
is the fastest growing market over the last five years on account of
increasing demand from pharmaceutical and cosmetics industry in this
region.
Competitive Insights
Salicylic acid market is highly dominated with less number of market
participants operating globally. However, there are many SMSEs in China
producing industrial grade salicylic acid at relatively low cost. Some
key players in this market include J.M. Loveridge Ltd., Novacap Group,
Alfa Aesar and SIMCO Chemicals Inc
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