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The market growth of methyl salicylate is dependent on the wide application range of the product, such as flavouring agents in chewing gums and mints, offering fragrance to certain products, acts as an antiseptic material in household products like Listerine, and finds medical applications in the treatment of joint and muscular pain. The market for methyl salicylate is being supported by the high demand from mature regions like North America and Europe. This can be attributed to the huge presence of hair care and skin care industries in these regions as a result of significant demand for the chemical. Emerging regions like the Asia Pacific are expected to exhibit a rapid growth over the forecast period owing to growing skin care, hair care, and pharmaceutical industries in the region.
The market is further aided by the growing awareness associated with the health of hair and skin among consumers and the changing lifestyle of the masses, consequently affecting the demand for personal care products, thereby supporting the demand for methyl salicylate. These products are available on Amazon.com, Inc. (NASDAQ: AMZN), an e-commerce site, which is dedicated to ease the process of purchasing and delivering fast to the buyers. The company also offers discounts and vouchers, as a result, promoting the sale of personal care products at reasonable prices, further enhancing the growth of the methyl salicylate industry.
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Seqens Group, Zhenjiang Gaopeng Pharmaceutical Co., Ltd., Alta Laboratories Ltd., Tokyo Chemical Industry Co., Ltd., and Siddharth Carbochem Products Ltd., among others, are the key players in the global methyl salicylate market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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