Press release
AEA Salicylic Acid Market is slated to increase at a CAGR of 7.3% to reach a valuation of $553.8 million by 2030
AEA Salicylic Acid Market
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AEA Salicylic Acid Market growth is driven by increase in demand from the preserved food & beverage industry and growing inclination toward personal care products. On the other hand, rising consumer awareness about the harmful effects of products restrains the growth to some extent. However, high adoption of salicylic acid in the pharmaceuticals and cosmetics sector and surge in demand for aspirin drugs are expected to create lucrative opportunities in the industry.
The AEA salicyclic acid market is analyzed across application and region. Based on application, the pharmaceutical segment accounted for the major share in 2020, holding more than three-fourths of the total market. The skin care segment, however, would exhibit the fastest CAGR of 8.5% throughout the forecast period.
BY APPLICATION
1. Pharmaceutical
2. Skin care
3. Haircare
4. Food preservative & others
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Based on region, Europe held the lion's share in 2020, garnering around half of the total market. The market across Latin America, on the other hand, is expected to cite the fastest CAGR of 7.7% by the end of 2030. The other provinces studied in the report include North America and Africa.
The key market players analyzed in the AEA salicyclic acid market report include Avonchem Limited, Wego Chemical Group, J.M. Loveridge Limited, Reagents, Novacyl, Alfa Aesar, Midas Pharma GmbH, Solvay Merck KGaA. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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