Global Salicylic Acid Market Size, Share, Growth and Analysis Report - Forecast Trends and Outlook (2024-2032)

Global Salicylic Acid Market Outlook

The global salicylic acid market attained a value of USD 478.70 million in 2023. The market is further expected to grow in the forecast period of 2024-2032, growing at a CAGR of 5.30%. The salicylic acid market is projected to reach USD 762.04 million by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The industry is being driven by the continuous and rising demand from the pharmaceutical sector. Salicylic acid is used as an anti-microbial and anti-inflammatory agent. It also finds uses as a fungicidal. Thus, salicylic acid finds extensive use in the treatment of common skin ailments like acne, blemishes, and psoriasis. Being anti-microbial it also finds applications as an antiseptic and disinfectant. Its anti-inflammatory properties make it an effective pain reliever. With increasing incidences of skin infections and conditions like arthritis, spondylitis, and migraine, the salicylic acid market trends is expected to witness a healthy growth in the coming years due to the product’s various pharmaceutical properties. The industry is also being aided by the product’s use in the manufacturing of aspirin, one of the most popular drugs in the world. Aspirin, which is used to treat pain, swelling, fever, and other inflammations, is produced by the esterification of salicylic acid and acetic anhydride, with sulphuric acid acting as a catalyst in the process.

North America and Europe are some of the leading salicylic acid markets. The industry in the two regions are being aided by the growth of their pharmaceutical industries. The pharmaceutical market in these regions are being aided by the rising consumer awareness of drugs and increasing consumerization of health due to the increased availability of data. The pharmaceutical industry and, therefore, the salicylic market, in the two regions are also being aided by the growing ageing population in North America and Europe. Europe is expected to be the most aged region globally, with nearly 34% of the population being 60 years or over by 2050. North America, too, is projected to have a large ageing population, with 28% of its population expected to reach 60 years or over by 2050. The growing consumer health care market in North America and Europe is also aiding the salicylic industry in the two regions. The United States of America and Europe are the leading markets for consumer healthcare products due to the two regions’ extensive healthcare apparatus and better access to public and private health insurance.

Global Salicylic Acid Market Segmentation

Salicylic acid can be either obtained naturally from sources like wintergreen leaves and white willow or can be artificially synthesized. Its fungicidal, bacteriostatic, and keratolytic properties find wide application in end-use sectors like:

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

• Pharmaceuticals
• Personal Care
• Food and Preservative
• Others

The report also looks into the regional market of the product like North America, the Asia Pacific, the Middle East and Africa, Europe, and Latin America.

Global Salicylic Acid Market Analysis

The global salicylic acid market is being driven by the growing pharmaceutical industry across the world. The rise in self-medication and the consumption of over the counter drugs is also driving the industry growth. The growing cases of lifestyle diseases associated with joint and muscle pain is also propelling the industry forward. In the coming years, the Asia Pacific market for salicylic acid is expected to witness a healthy growth due to the growth of the pharmaceutical industry in the region. The consumer healthcare sector in the region is projected to grow faster than North America and Europe. India, China, Japan, and South Korea are expected to propel the growth of the pharmaceutical industry in the coming years. The Indian pharmaceutical industry accounts for the third largest volume of drugs, globally, with the industry generating an annual revenue of USD 38 billion. Thus, the growth of the pharmaceutical industry in India is expected to further boost the growth of the salicylic acid industry, which finds use in various drug, either directly or through its derivative.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The salicylic acid market is also expected to be catalyzed by the growing disposable incomes of consumers along with the rising ageing and middle-class population. The healthy growth of the food and beverage sector globally is further expected to boost the industry growth as the acid finds extensive application as a food preservative. With changing and busier lifestyles, consumers are increasingly seeking out processed foods which require preservatives for their longer shelf life. Thus, increasing consumption of processed foods are also expected to drive the industry growth, globally. The North America food and beverage market is, especially, projected to contribute significantly to the industry growth of the acid with leading food and beverage players being headquartered in the region. The emerging food and beverage markets in the Asia Pacific will also contribute to the growth of the industry in the food preservative segment. The cosmetic industry is also expected to be major end-use sector for the acid in coming years.

Competitive Landscape

The report gives an in-depth analysis of the following key players in the global salicylic acid market, covering their competitive landscape, capacity, and latest developments like mergers and acquisitions, capacity expansions, and plant turnarounds:

• Seqens International
• JM Loveridge Limited 
• Zhenjiang Gaopeng Pharmaceutical Co., Ltd. 
• Hebei Jingye Group
• Siddharth Carbochem Products Ltd 
• Others

The comprehensive report also gives a SWOT analysis along with an analysis of the Porter’s Five Forces model.

Key Highlights of the Report