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The salicylic acid market, according to the research report, is estimated to reach a value of US$521.2 million by 2019, growing from US$292.5 million in 2012. If these values hold true, the global salicylic acid market is poised to register a healthy CAGR of 8.6% from 2013 to 2019.
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Salicylic Acid Market to reach USD 521.2 million by 2019 |CAGR of 8.6% Salicylic acid is a colorless, crystalline substance and has pain relieving and anti-inflammatory properties. Majority of the salicylic acid produced is used as a key ingredient in the manufacture of aspirin. In addition, salicylic acid helps in curing various skin ailments including blemishes, acne, psoriasis and dandruff among others. Pharmaceuticals was the largest application segment present within the salicylic acid market and accounted for over 50% of the total demand in 2012 as salicylic acid has been primarily used as a key ingredient in the manufacture of aspirin and as an additive in various other drugs and ointments. The growth of the global pharmaceutical market on account of initiatives by various national governments coupled with rising awareness regarding general well-being among consumers is expected to fuel the demand for salicylic acid over the next few years. However, skincare is expected to witness the fastest growth within the salicylic acid market over the next few years closely followed by haircare. Preservatives in food, intermediate in the manufacture of chemicals and fragrances are other uses of salicylic acid. Growth of the global skincare and haircare market is expected to drive the demand for salicylic acid, as more and more consumers are becoming increasingly aware of benefits of salicylic acid for skin and hair. Request for customization@ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=1106 In addition, growing demand for aspirin on account of its medicinal benefits on health coupled with increasing awareness regarding general well-being among consumers is expected to augment the demand for salicylic acid over the next few years. However, growing concerns regarding the side-effects of exposure to salicylic acid through excessive consumption or excessive external application such as blistering of skin, intoxication and irritation of stomach lining is expected to hamper the growth of the market. Research studies proving the reduced risks of dementia, strokes and Hughes Syndrome among patients is expected to open new opportunities for the growth of the market in the next few years. Demand for salicylic acid was highest in North America followed by Europe in 2012, together accounting for over 60% of the market. Prevalence of a large skincare and haircare in this regions resulted in a high demand for salicylic acid. In addition, presence of a large pharmaceutical industry led to an elevated demand for salicylic acid. Asia Pacific is expected to witness the fastest growth in terms of demand for salicylic acid within the forecast period due to the growing pharmaceutical, skincare and haircare market. Changing lifestyles and growing awareness regarding healthy skin and hair among consumers present in Asia Pacific, is expected to drive the skincare and haircare market. Furthermore,
increasing consumer awareness regarding the benefits of salicylic acid on skin and hair is expected to augment its demand in skincare and haircare products. Request Brouchure@ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1106 Moreover, growth of the pharmaceutical market due to growing ageing population, government initiatives and rising awareness regarding general well-being among consumers is expected to fuel the demand for salicylic acid, as it forms a vital ingredient of several drugs and ointments.
