ALBANY, New York, September 26, 2013 /PRNewswire/ --
According to a new report published by Transparency Market Research "Salicylic Acid Market for Pharmaceutical, Skin care, Hair care and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019," the global market for salicylic acid was valued at USD 292.5 million in 2012 and is expected to be USD 521.2 million in 2019, growing at a CAGR of 8.6% from 2013 to 2019. In terms of volume, salicylic acid demand was 95,000.0 tons in 2012 and is expected to grow at a CAGR of 6.4% from 2013 to 2019.
Browse the full report with complete TOC at http://www.transparencymarketresearch.com/salicylic-acid.html
Salicylic acid is being increasingly used in skincare and haircare products due to its medical benefits such as reduction of acne, blemishes, dandruff and psoriasis. Rising awareness regarding healthy skin and hair is expected to drive the global skincare and haircare market, which in turn is expected to drive the growth of salicylic acid market. In addition, growing demand for aspirin is expected to be another factor vital to the growth of the market, as salicylic acid forms a key ingredient of aspirin. However, growing consumer concern regarding the side-effects of salicylic acid is expected to hamper the growth of the market. Research proving the positive impact of aspirin on life-threatening diseases such as dementia, strokes and Hughes Syndrome are expected to open new opportunities for the growth of the market over the next few years.
Demand for salicylic acid was highest from pharmaceuticals and was 48,697.0 tons in 2012. However, skincare and haircare are expected to be the fastest growing segments in terms of consumption of salicylic acid, on account of increasing consumer awareness regarding healthy hair and skin. In addition, rising awareness among consumers regarding the benefits of salicylic acid on skin and hair is expected to drive the market towards salicylic acid containing skincare and haircare products. The growth of the global skincare and haircare market is expected to augment the growth of the market.
Consumption of salicylic acid was highest in North America and accounted for over 35% of the market in 2012. However, Asia Pacific is expected to witness the fastest growth in the market within the forecast period. The demand for aspirin is expected to grow substantially on account of growing ageing population and healthcare initiatives by various national governments present in this region. This factor is expected to drive the demand for salicylic acid in pharmaceutical within Asia Pacific over the next few years. In addition, changing lifestyles and rising consumer awareness regarding the benefits of salicylic acid on skin and hair, is expected to fuel the demand for salicylic acid in skincare and haircare applications.
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Key participants' profiles in the report include Alfa Aesar, J.M. Loveridge Limited, Novacap and Simco Chemicals Inc. among others. The report comprises of the following segments:
Salicylic Acid Market: Application Analysis
Others (food, chemicals, fragrances)
The report provides a cross-sectional analysis of the above application segments with respect to the following regions:
Rest of the World
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