Transparency Market Research (TMR) recently published a report to give a comprehensive overview on the global salicylic acid market. The report provides exhaustive details about the present market dynamics and how the incumbent trends are likely to impact the market’s trajectory in the near future. In its 69 pages, the report provides an executive-level snapshot of the market and presents an in-depth analysis of the value chain, factors affecting the demand for salicylic acid – on both the regional and global level – and the growth prospects of the overall market. The report is titled “Salicylic Acid Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 – 2019” and is available for sale on TMR’s website. According to the findings of the report, the global salicylic acid market, which was worth US$292.5 million in 2012, will grow at an impressive 8.6% CAGR between 2013 and 2019.
Driven by growing beauty consciousness among the present generation, the market for salicylic acidis projected to value US$521.2 million by the end of 2019. With regard to volume produced during the forecast period, the demand for salicylic acid will increase at a 6.4% CAGR from 95,000.0 tons in 2012.
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Focusing on hair and skin health has become a common trend in present times. This is one of the most conspicuous factors propelling the market for salicylic acid. The range of skin and hair care products available in the market today offer medical benefits that help reduce problems such as hair fall, dandruff, acne, psoriasis, or blemishes. Salicylic acid is a crucial component that goes into the manufacture of these products. Hence an increase in demand for skin and hair care products will directly correspond to the expansion of the market for salicylic acid, as observed in the report. Salicylic acid is one of the most widely used commercial chemicals. It finds application in organic synthesis, it is an important component of aspirin, and it is also effective in treating common skin conditions such as acne. According to the report, robust growth is expected for the market spurred by the discovery of new growth opportunities. The growing demand for aspirin as a pain killer and in the treatment of fever, cough, and cold has positively impacted the market for salicylic acid.
Among its multiple industrial applications, the report identified pharmaceuticals as the largest application segment within the global market for salicylic acid in 2012. Pharmaceuticals accounted for over 50% of the total demand from the salicylic acid market that year. Salicylic acid is used as an additive in a wide range of medical drugs and ointments, apart from being a key component in aspirin, which, according to the report, is driving the demand for salicylic acid in the pharmaceutical industry.
Geographically, North America was identified as the largest market for salicylic acid in 2012. The region accounted for 35% of the total market that year, followed by Asia Pacific. The report foresees exponential growth for the salicylic market in Asia Pacific.
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