Salicylic Acid Market Size To Reach Near $500 Million By 2020A Chapter by David JonesSalicylic Acid Market Share, Size, Analysis, Growth, Trends and Forecasts to 2020 | Hexa ResearchThe worldwide salicylic acid
market was valued at around USD 200 million in 2012. It is expected to grow at
a CAGR exceeding 7% and reach close to USD 500 million by 2020. Salicylic acid
is extracted from the winter green plans and willow black leaves.
Salicylic acid is antiseptic and
anti-inflammatory qualities. It is used in the manufacturing of aspirin, skin
& hair care products, and cosmetics industry.
Adoption of aspirin for the
prevention and treatment of dementia and strokes in the geriatric population
can drive market. This is likely to impel the market in the next eight years.
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Commercially, this salicylic acid is manufactured
using chemical synthesis of phenol. Expansion of oil & gas industry is
anticipated to increase the availability of phenol, this can the drive industry
over the coming years.
Over-use of salicylic acid can harm the skin causing
blistering, dryness, and irritation. Awareness regarding the ill-effects of the
product can nudge the consumer towards other natural alternatives like rosemary
and tea tree oil. This can impact market growth. The global salicylic acid
market is divided into applications and regions.
Applications include food & preservatives,
pharmaceuticals, and cosmetic industry. Use of salicylic acid based drugs has
led the pharmaceuticals segment to dominate the applications. Hughes syndrome,
skin disorders (acne, psoriasis, and blemishes), and cardiovascular diseases,
this will augment the demand of the product till 2020.
Food and preservatives sector can exhibit a CAGR of
around 7% till 2020. Using salicylic acid as preservatives has improved shelf
life of products like wine, sauces, and beer. This can contribute in catalyzing
market growth.
Use of salicylic acid in cosmetic industry is also
expected to witness growth. This segment can witness growth due to the increase
in the use of shampoos, conditioners, and skin and hair problems.
Regions involve North America, Europe, Asia Pacific,
Latin America, and the Middle East & Africa (MEA). In 2012, Europe
accounted for over 32% of market share, due to the growing use of hair and skin
care products and the health & hygiene awareness.
Increasing demand for preservatives in packaged food
products, medicated cosmetics, and pharmaceutical products can exhibit market
growth in Latin America. It can show a CAGR of over 8% during 2012-2020.
Key market competitors include Loveridge Limited, Alfa
Aesar, Novocap, Zhenjiang Gaopeng Pharmaceutical Company Limited, and Simco
Chemicals. While major buyers are companies like Clean & Clear, Heinz, and
Neutrogena. © 2017 David Jones |
StatsAuthorDavid Jonescalifornia, CAAboutResearch Analyst At Hexa Research Which Provides Research Content For All Types Of Domains do check my Articles more..Writing
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