The global market for salicylic acid is expected
to reach USD 426.8 million by 2020, according to a new study by Grand View
Research, Inc. Increasing use of salicylic acid in cosmetics coupled with the
growing haircare and skincare market is expected to be a major driver over the
next six years. In addition, growing acceptance of salicylic acid as a flavor
and preservative is further expected to boost the growth of this market over
the forecast period. Salicylic acid is a key ingredient in the manufacturing of
acetyl salicylic acid or aspirin and the aspirin demand could witness
substantial growth over the next five years especially in countries of Asia
Pacific.
Pharmaceutical and food and preservative were the
largest application segments for salicylic acid in 2013, together accounting
for over 70% of global consumption. Food and preservative was a key segment for
the market and is expected to grow at a CAGR of 6.8% from 2014 to 2020. The
other key applications of salicylic acid include cosmetics products and other
derivatives such as methyl salicylate, choline salicylate and magnesium
salicylate which are all used in industrial applications.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/salicylic-acid-market-analysis
Further key findings from the study
suggest:
- Europe was the largest consumer of salicylic acid owing to the predominant pharmaceutical and cosmetics industry in this region, with an estimated salicylic acid demand of over 42 kilo tons by 2020.
- The other large regional markets for the salicylic acid include North America and Asia Pacific with the latter expected to be the fastest growing regional consumer, at an estimated CAGR of over 7.6% from 2014 to 2020. China was the largest producer of salicylic acid in 2013 owing to the large downstream application manufacturers in the region.
- The salicylic acid market was fairly concentrated with the top five companies accounting for over 75% of the production in 2013. Novocyl was the largest manufacture of salicylic acid and had a reported capacity of 32 kilo tons in 2013. The other key players in the market include Hebei Jingye Group, Zhenjiang Gaopeng Pharmaceutical Co. Ltd and Shandong Xinhua Longxin Chemical Co., Ltd.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/food-additives-nutricosmetics-flavors-and-fragrances
For
the purpose of this study, Grand View Research has segmented the global
Salicylic Acid market on the basis of application, product and region:
Salicylic Acid
Applications Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2020)
• Pharmaceuticals
• Food and Preservative
• Cosmetics
• Others (derivatives, industrial)
Salicylic Acid Regional
Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• (RoW)
No comments:
Post a Comment