According to a new market report published by Credence Research, “Salicylic Acid Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022,” the demand for salicylic acid is expected to witness high demand due to growing demand from the pharmaceutical and cosmetic industry.
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Salicylic acid is a general organic acid found naturally from the bark of willow tree. The existence of salicylic acid traces since centuries as people had used the bark of willow tree for various medicinal purposes. Salicylic acid was introduced to the market by a Greek Physician Hippocrates. The medicinal properties of salicylic acid were reviled by various physicians, chemists and researches. Salicylic acid is used to reduce fever, aches and pain. It was used as an anti-inflammatory drug in the ancient times.
Salicylic acid is used in various medicinal products since ancient times. It is used in many topical products which are used to cure pain and aches. Salicylic acid is also used in the treatment of psoriasis, corns, callus, etc as salicylic acid works as a comedolytic agent. It helps prevent clogging of pores by constricting pore diameter which then allows growth of new cells. Therefore, salicylic acid is used in the production of wide range of medicinal products and is also used in cosmetics to prevent acne. It is also used in the production of shampoos to treat dandruff. Apart from medical applications, salicylic acid is also used in food industry as a preservative due to its antiseptic property. It is used in the food industry in very low doses as it can react with other chemicals causing toxicity. Industrial applications are therefore expected to boost market demand for salicylic acid.
The beneficial properties of salicylic acid market have led to high demand for various applications in the market. Rising demand for aspirin in the market is the major factor promoting the growth of global salicylic acid market. In addition, growing use of salicylic acid in personal care products and cosmetics is also driving the growth of salicylic acid market. Increasing demand and consumption of processed foods and flavored drinks have also created growth opportunities for salicylic acid market in the food industry. Antiseptic properties of salicylic acid have generated high demand from food and preservatives sector globally. Therefore, high demand is projected for salicylic acid during the forecast period from 2016 to 2022.
Europe accounted for larger share of global salicylic acid market in 2015 and is expected to retain its market position due to growing demand from the personal care products and cosmetic industry in the region. High demand from the pharmaceutical sector is also expected to boost demand for salicylic acid in the region. Asia Pacific was reported to be the fastest growing market for salicylic acid globally. Increasing awareness for well being and health among the people, especially in emerging economies such as China and India has contributed to the demand of various skin and hair care products, thereby promoting growth of salicylic acid in the market. North America is expected to experience steady growth during the forecast period. Other regions such as Middle East & Africa and Rest of the World are also anticipated to offer growth opportunities for salicylic acid due to growing pharmaceutical, food and personal care products industries in the regions.