Salicylic Acid Market Expected to Reach $504 Million by 2022, Globally : North America to Grow faster during forecast period

Salicylic Acid Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $504 million by 2022, registering a CAGR of 6.3% during the period 2014 - 2022.In the year 2015, the pharmaceuticals segment dominated the market, with more than 50% share, in terms of revenue, and more than one-third share, in terms of volume. This was attributed to increase in production of pharmaceutical active ingredients and chemical intermediates using salicylic acid. It is used as keratolytic and comedolytic agents in the pharmaceuticals industry.

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Salicylic acid can be combined with other pharmaceutical ingredients such as benzoic acid, resorcinol, coal tar and sulfur to produce efficient and effective products. Anti-inflammatory, anti-bacterial and keratolytic agents and is used as a wart remover, disinfectant, preservative, anti-irritant and scale lifter. Salicylic acid is one of the two FDA approved ingredients for psoriasis treatment. It is used in other treatments such as measles, seborrhea, dermatitis, hard flesh and corn. Salicylic medicines are sold as prescription drugs as well as prescription drugs. Salicylic acid is used at low concentrations because it can cause severe dryness, blistering, shortness of breath, digestive disorders and skin irritation when overexposed to skin.

The global salicylic acid market has been severely fragmented as the application of salicylic acid products has increased across a variety of industries. Demand for raw materials for salicylic acid production has increased significantly over the past few years. However, the source of these raw materials is inherently limited. Since these substances are derived from natural sources, there is less raw material differentiation.

Key findings of the Salicylic Acid Market

• North America is expected to maintain its lead, throughout 2022, followed by Europe.
• The pharmaceuticals segment, in terms of volume, is projected to grow at a CAGR of 6.3%.
• U.S. accounted for more than one-fourth share of the world salicylic acid market revenue in 2015.
• OTC is projected to grow at fastest rate, with a CAGR of 7.1%.
• Sunscreen is expected to grow at the highest CAGR of 9.2%.
• Conditioner is the fastest growing segment in the hair care sector, growing at a CAGR of 7.5%.

Asia-Pacific is preferred by the new entrants due to the increase in demand for personal care products. Consumer awareness about its benefits in personal care products has increased in the recent years, which has influenced the demand for salicylic acid. The Asia-Pacific salicylic acid market is expected to grow at a high CAGR of 6.6%, followed by North America with a CAGR of 5.9%. North America, dominant due to the high demand in the pharmaceutical and cosmetics industries, and Europe collectively contributed more than 50% share of the world salicylic acid market revenue in 2015.

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The prominent players profiled in this report include Zhenjiang Gaopeng Pharmaceutical Co., Ltd. (China), Hebei Jingye Group (China), Shandong Xinhua Longxin Chemical Co. Ltd. (China), Simco QC (Canada), Siddharth Carbochem Products Ltd. (India), Novacap (France), J.M. Loveridge Ltd. (UK), Alta Laboratories Ltd. (India), and Alfa Aesar (UK).

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