Salicylic Acid Market Statistics, Size Will Hit $886.9 Million By 2030 | Growth With Recent Trends & Demand

The global salicylic acid market generated $431.7 million in 2020, and is estimated to generate $886.9 million by 2030, witnessing a CAGR of 7.5% from 2020 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Increase in demand from the preserved food & beverage industry and rise in demand for personal care products drive the growth of the global salicylic acid market. However, surge in consumer awareness about harmful effects restrains the market growth. On the other hand, adoption of salicylic acid in pharmaceuticals and cosmetics along with increase in demand for aspirin drugs present opportunities in the coming years.

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Covid-19 Scenario:

• During the Covid-19 pandemic, the demand and manufacturing activities of salicylic acid have been affected. The lockdown measures led to closure of manufacturing facilities. Moreover, disruptions in the supply chain led to stoppage of supply and distribution for application industries.
• There has been a considerable impact on the application industries, directly and indirectly. There were challenges such as labor shortages, lack of raw materials, disruptions in manufacturing operations, and others. This reduced the demand for salicylic acid. However, the demand is expected to restore post-lockdown.

By Application

• Pharmaceutical
• Skin Care
• Hair Care
• Food Preservatives & Others

The report offers detailed segmentation of the global salicylic acid market based on application and region.

Based on application, the pharmaceutical segment accounted for the highest share in 2020, contributing to more than three-fourths of the total share, and is projected to continue its lead position during the forecast period. However, the skin care segment is expected to witness the largest CAGR of 9.2% from 2021 to 2030.

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Based on region, Asia-Pacific held the highest share in 2020, accounting for more than one-third of the total market share, and is projected to continue its dominant share by 2030. Moreover, this region is projected to portray the fastest CAGR of 7.8% during the forecast period. The research also analyzes the regions including North America, Latin America, Europe, Africa, and Middle East.

Leading players of the global salicylic acid market analyzed in the research include Alfa Aesar, J.M. Loveridge Limited, Avonchem limited, Midas Pharma GmbH, Novacyl, Solvay Merck KGaA, Wego Chemical Group, and Reagents.

Key benefits for stakeholders

• The report outlines the current trends and future scenario of the market from 2021 to 2030 to understand the prevailing opportunities and potential investment pockets.
• The salicylic acid market size is provided in terms of volume and revenue.
• The report provides an in-depth analysis of the market along with the current and future salicylic acid market trends.
• This report highlights the key drivers, opportunities, and restraints of the salicylic acid market along with impact analysis during the forecast period.
• The report also covers the impact of governmental regulations on the salicylic acid market.
• Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
• The study provides a comprehensive analysis of the factors that drive and restrain the salicylic acid market growth.

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