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Octyl Salicylate Market Sees Promising Growth during 2017-2025

02-13-2018 07:22 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Persistence Market Research

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Octyl Salicylate Market Sees Promising Growth during 2017-2025

Octyl salicylate also known as 2- ethylhexylsalycylate, octisalate and benzoic acid among others is an organic compound. Octyl salicylate is an ester that is produced through the condensation of a salicylic acid with 2-ethylhexanol. Octyl salicylate is primarily a colorless or a pale yellow with a slight floral odor. In some cases, the organic compound possesses a typical or a bland odor. Octyl salicylate is soluble in ethanol, isopropanol, olive oil, paraffin oil, dimethicone, mineral oil and octyl palmitate. However, the organic compound is insoluble in water. Octyl salicylate acts as an excellent solubilizer for a wide range of crystalline UV filters including ethylhexyl triazone and butyl methoxydibenzoylmethane.

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Octyl salicylate is primarily employed as an ingredient in cosmetics and sunscreens, which aids in absorbing UVB rays from the sun. In addition, octyl salicylate is incorporated into sunscreens due to its antibacterial abilities and helps preserve the product from turning rancid. The organic compound is a water insoluble and oil soluble UVB absorber, which has been used for generations. Salicylate is weak UV B absorber and is generally employed in combination with other UV to boost the SPF. Octyl salicylate is used as an inhibitor against UV degradation of emulsions, dyestuff and polymers.

The key driver of octyl salicylate is its use in sunscreens and other cosmetic products. Skin care products constitute one of the major segments in the global cosmetic industry. Owing to its use as an active ingredient in these products and its antibacterial properties, the market for octyl salicylate is expected to increase over the next few years. In addition, the continuous growth of the skin care segment especially sunscreens in the cosmetic industry is anticipated to drive the market for octyl salicylate over the next few years. Additionally, rapid growth in the cosmetic industry on various web portals has been seen over the past few years. Online shopping has been a major trend of consumers in the recent present and the trend is expected to continue over the forecast period.

Wide ranges of web portals are continually looking expand their product lines especially in the cosmetic industry. This is anticipated to boost the global cosmetic market, which in turn is anticipated to drive the market for octyl salicylate over the forecast period. Furthermore, growing health awareness among consumers is anticipated to boost its market in the near future since octyl salicylate aids in the protection of the harmful UV radiations of the sun. The fast changing lifestyle of consumers and the growing disposable income of the middle class especially in the Asia Pacific region are likely to boost the market for sunscreen and other body products over the next few years. Consequently, this will drive the market for octyl salicylate during the projected period.

The key regions present in the octyl salicylate market include North America, Europe, Asia Pacific and Rest of the World (RoW). Asia Pacific is expected to be the fastest growing market in terms of demand in the cosmetic industry. The shift in the lifestyle of consumers and the growing health awareness in the region coupled with the growing disposable income of consumers are expected to boost the cosmetic market in the Asia Pacific region, which in turn is expected to drive the market for octyl salicylate during the projected period.

Various cosmetic and sunscreen manufacturers have been trying to set up production and distribution facilities in emerging Asia Pacific countries especially India and China to cater to the rising demand of consumers. Asia Pacific is anticipated to be the most attractive market for the cosmetic industry in the near future. Consequently, this is anticipated to boost the market for octyl salicylate during the projected period.

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The key companies manufacturing octyl salicylate include Universal Esters Ltd. and Siddharth Carbochem Products Ltd. among others.

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