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The adoption of aspirin is increasing across the globe because they are not only used for skin treatment and as a pain-relieving agent but since it also prevents strokes when consumed in low dosages. Research analysis on the global salicylic acid market identifies that the increasing use of aspirin will be one of the major factors that will have a positive impact on the growth of the market. Heart attacks or strokes are caused due to blood clotting. Aspirin enables the free flow of blood platelets by thinning the blood and also prevent colorectal cancers. The prevalence of cardiovascular diseases and cancers are also increasing across the globe. This encourages various economies to increase their investments in the production of aspirin. Consequently, the adoption of salicylic acid will also increase because they are majorly used in the production of aspirin. Technavio’s market research analysts predict that this market will grow at a CAGR of close to 9% by 2021.
The increasing preference for processed food is one of the key trends that will gain traction in the global salicylic acid market throughout the estimated period. Salicylic acid helps in the preservation of food by maintaining the color, flavor, texture, and nutrients. The demand for the salicylic acid is high in the food industry because they increase the shelf life of the food products and can be easily stored.
The salicylic acid market is characterized by the presence of few key vendors. These vendors are increasingly focusing on expanding their market share and position by adopting mergers and acquisitions. The pharmaceutical and cosmetic manufacturing companies such as Bayer, Novartis, and Neutrogena are the major end-users of the salicylic acid market.
Key vendors in this market are -
Other prominent vendors in the market include Hebei Jingye Group, Shandong Xinhua Longxin Chemical, SCPL, Zhenjiang Gaopeng Pharmaceutical, Salicylates And Chemicals, and Finoric.
The pharmaceutical industry extensively uses salicylic acid as an antiseptic, disinfectant, and anti-fungal agent. Salicylic acid is also used to derive aspirin that is used to restrain body pain, fever, and inflammation. The adoption of salicylic acid will continue to increase in the pharmaceutical industry because they are used to treat skin diseases, rheumatoid arthritis, osteoarthritis, cancer, and to prevent heart strokes.
In terms of geography, EMEA contributed the maximum market shares during 2016 due to the enormous demand for salicylic acid from the pharmaceutical and cosmetic industries in this region. The growing rate of women employment and high disposable income is driving the adoption of skin care products such as salicylic acid cream in Saudi Arabia and Egypt, which in turn, will boost the demand for salicylic acid in the cosmetics sector.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Market segmentation by geography
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
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