Salicylic Acid Market is expected to reach US$ 64.76
Bn by 2022
According to a
new market report published by Credence Research, “Salicylic Acid Market -
Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2022,”
the salicylic acid market was valued at US$ 0.25 Bn in 2015, and is expected to
reach US$ 0.44 Bn by 2022, expanding at a CAGR of 8.4% from 2016 to 2022.
Browse the full Salicylic Acid Market for
Pharmaceutical, Food & Preservative, Personal Care Products, Cosmetics and
Other Applications- Growth, Share, Opportunities, Competitive Analysis, and
Forecast 2015 – 2022 report at http://www.credenceresearch.com/report/salicylic-acid-market
Market Insights
Salicylic acid
is an organic acid which is naturally found in the bark if willow tree. The
bark of willow tree is used for medicinal purpose since centuries. The
medicinal use of salicylic acid was documented by ancient Greek physician in
5th century BC. It was used for reducing fever, pains and aches. In the modern
world, salicylic acid is used primarily in painkillers and aspirins for curing
aches and pains. It is also used for the treatment of psoriasis, callus and
corns. It is also used in curing acnes and blemishes. Salicylic acid peels off
dead skin and helps clean pores to treat and prevent acne. These properties of
salicylic acid have led to high demand from the pharmaceutical and personal
care products industry.
Growing
awareness for well being and health among the people in emerging economies has
led to high demand and consumption of skin care and hair care products, thereby
leading to growth of salicylic acid in the market. Rising demand from the
pharmaceutical industry is another factor driving the growth of global
salicylic acid market. In addition, increasing use of processed food and
flavored drinks has also led to booming demand for salicylic acid from the food
industry. Salicylic acid is used as a food preservative as it has antiseptic
properties. Changing and busy lifestyle of people has led to high demand for
processed food which has increased the use of salicylic acid in the food
industry. The personal care and cosmetics industry is also expected to
contribute to the growth of global salicylic acid market.
For More
Reports Related to This Category @ http://www.credenceresearch.com/industry/chemicals-market
Competitive Insights:
Pharmaceuticals
accounted for the major share of more than 30% of global salicylic acid market
in 2015. Rising demand is experienced for aspirin and pain killers for various
diseases and pains. Therefore, pharmaceutical industries are expected to
generate high demand for salicylic acid in the market. The growing awareness
among the people for well being and health has increased the demand for skin
and hair care products. Salicylic acid
is used on a large scale in production of various skin care and hair care
products. It helps preventing acne and aids the treatment of various diseases
like psoriasis, callus, corns, etc. Hence, personal care products industry is
also expected to fuel demand for global salicylic acid market in the near
future. Moreover, apart from medicinal properties, salicylic acid is also used
in the food industry as a food preservative. The antiseptic property of
salicylic acid keeps the food safe for a longer duration of time. Food industry
is also anticipated to fuel demand for salicylic acid in the market during the
forecast period.
Key players
dominate the global salicylic acid market making the entry of new players
difficult. These companies have already established its position in the market
because of high demand for salicylic acid from pharmaceutical and personal care
product industry worldwide. Therefore, high competition is observed between the
salicylic acid producers in the market to gain a strong foothold globally.
Key Trends:
Psoriasis
Treatment
Advanced
Painkiller and Ailments
Food
preservative
Growth
opportunities in cosmetic industry
About Us:
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