Global Salicylic Acid Market - 2024-2031

Report Overview

Global Salicylic Acid Market reached US$ 432.18 million in 2023 and is expected to reach US$ 566.45 million by 2031, growing at a CAGR of 7.6% during the forecast period 2024-2031.

Salicylic acid is a white crystalline solid organic compound. It is a mono hydroxybenzoic acid derived naturally from the willow tree and Salix, or it can also be produced synthetically from sodium phenolate and carbon dioxide.

It is a commercial chemical and an essential component of aspirin. The rise in human infectious diseases such as fever, cough, and cold are fuelling the demand for aspirin as a pain killer. It also has a wide range of applications in the cosmetic industry making it a powerful exfoliating agent and involved in treating acne, and other skin diseases.

Market Dynamics: Drivers & Restraints

Growing demand for over-the-counter products

Increasing demand for over-the-care products with the increasing consumer needs and growth in various industries is one of the major factors boosting the global salicylic acid market. Owing to its fungicidal, anti-inflammatory, keratolytic, pain reveling and anti-microbial properties, salicylic acid is finding several applications in the cosmetics, healthcare, and pharmaceutical industries.

Salicylic acid is frequently employed in over-the-counter acne treatments due to its ability to cleanse the skin and reduce inflammation. It is also used to treat disorders like psoriasis and warts, which increases its popularity in dermatology.

Increased awareness of skin health and personal grooming has resulted in increased demand for salicylic acid-containing products. It is a popular ingredient in cosmetic products such as cleansers, exfoliants, and moisturizers, which is driving its market growth.

Adverse reactions associated with salicylic acid

The adverse reactions associated with salicylic acid can hinder the market growth. Salicylic acid can cause a rare but serious allergic reaction or severe skin irritation along with skin dryness, and peeling. Also, salicylates applied to the skin can be absorbed into the bloodstream and can cause Reye's syndrome, and sometimes fatal condition in children.

Market Segment Analysis

The global salicylic acid market is segmented based on form, application and region.

Cosmetics segment is expected to dominate the market share

Cosmetic applications accounted for the major market and are expected to continue throughout the forecast period. This is due to its expanding applications in the treatment of skin-related problems such as psoriasis, acne, dandruff, and others. Salicylic acid is widely used in the cosmetics industry for its exfoliating and antiseptic properties.

Also, the safety of cosmetics is a major concern. Growing consumer awareness about the health benefits of salicylic acid-based skincare and hair care products due to their anti-inflammatory properties is a major factor that is fueling the segment's growth. Increasing salicylic acid product launches with increasing demand for cosmetic products is also a major factor that drives the segment growth.

For instance, on June 26, 2024, Flychem launched the world's most advanced high-purity Encapsulated Salicylic Acid under the brand name KOSAVA. The innovative KOSAVA powered by ProbiCap technology offers unparalleled efficacy and stability, setting a new standard in the personal care and pharmaceutical industry. Thus, the above factors are expected to hold the segment in the dominant position.

Market Geographical Analysis

North America is expected to hold a significant position in the salicylic acid market share

North America occupies the dominant share in the salicylic acid market and is expected to continue throughout the forecast period. This is due to its well-established market presence, high demand for skincare products, strong OTC market, high prevalence of skin conditions, significant R&D investment, and growth in e-commerce and retail channels.

Acne is a common skin problem in North America, particularly in teenagers and young adults. The increased prevalence of acne increases the demand for effective therapies, especially those containing salicylic acid. The region is also experiencing a high incidence of chronic skin disorders such as psoriasis and dandruff, which contributes to the demand for salicylic acid-based products. Thus, the above factors are expected to hold the region in the dominant position.

Market Segmentation

By Form

• Liquid
• Powder
• Others

By Application

• Pharmaceuticals
  • Wart Remover
  • Anti-fungal
  • Anti-septic
  • Anti-irritant
  • Others
• Cosmetics
• Food Preservation
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Middle East and Africa

Market Competitive Landscape

The major global players in the market include Thermo Fisher Scientific Inc., Alta Laboratories Ltd., Merck KGaA, Hebei Jingye Group, Shandong Longxin Chemical Group Co., Ltd, Siddharth Carbochem Products Ltd., Zhenjiang Gaopeng Pharmaceutical CO. Ltd., Seqens International, Midas Pharma GmbH and Spectrum Chemical Mfg. Corp. among others.

Why Purchase the Report?

• To visualize the global salicylic acid market segmentation based on form, application, and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of salicylic acid market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global salicylic acid market report would provide approximately 53 tables, 47 figures, and 176 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies