The global salicylic acid market is
expected to reach USD 547.5 million by 2024, according to a new report by Grand
View Research, Inc. The market is expected to exhibit significant growth owing
to increasing use of the product in the pharmaceutical industry for treatment
of various skin disorders such as psoriasis, acne, and blemishes. In addition,
the product is used as an ingredient during the preparation of aspirin.
salicylic acid acts as an anti-inflammatory agent thus promoting its use as an
ingredient in aspirin preparations.
The
increasing use of derivatives of salicylic acid such as methyl salicylate and
chlorine salicylate as a liniment for joint and muscle pain and for relieving
pain caused by mouth ulcers is expected to drive the market growth over the
forecast period.
However,
growing awareness regarding the harmful effects of excessive consumption of the
compound has led the regulatory bodies such as the Food and Drug Administration
(FDA) to enforce stringent regulations regarding the maximum permissible limit
for salicylic acid in various products, thus limiting its growth over the next
eight years.
The global
salicylic market is characterized by a small number of manufacturers. Some
companies including Novacap, Simco, and Loveridge are forward integrated into
their operations and are engaged in the production of phenol, which is an
important raw material used for manufacturing of the product. Other companies
procure phenol from manufacturers such as Shell and INEOS Phenol.
To request a
sample copy or view summary of this report, click the link below:
Further key findings from the study suggest:
- The cosmetics application segment of salicylic acid is expected to grow at a CAGR of over 7.0% from 2016 to 2024. Increasing demand for cosmetic products across Europe, North America and Asia Pacific coupled with increasing self-prescription of these products for the treatment of mild skin disorders is expected to augment growth over the forecast period.
- Salicylic acid demand in food & preservative application was valued at over USD 90.0 million in 2015. The product is extensively used in manufacturing other salicylates including methyl and ethyl salicylates. Rising demand for food preservatives on account of growing demand for processing foods in emerging markets of China and India is expected to augment food preservatives market, which in turn is likely to augment growth over the forecast period.
- Asia Pacific is expected to witness the highest growth as compared to other regions, growing at over 9.0% from 2016 to 2024 Positive food and pharmaceutical industry outlook in China, India, Japan and South Korea is expected to augment demand over the projected period.
- In North America, the U.S. accounted for the consumption of more than 16,000 tons of salicylic acid in 2015 owing to shelf-life extension solutions in food and beverages applications. Furthermore, increasing use of preservatives by major food and beverage manufacturers including Cargill Foods, Tyson and Heinz located in the U.S. is expected to augment the demand over the forecast period.
- Key players in the industry include Alfa Aesar, Alta Laboratories, JM Loveridge Limited, Novocap, Siddharth Carbochem Products Ltd., Simco Chemicals, and Zhenjiang Gaopeng Pharmaceutical Co. Ltd.
See More
Reports of This Category:
About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
No comments:
Post a Comment