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The global salicylic acid market is being driven by its extensive demand from its end-use sectors. Salicylic acid is a lipophilic monohydroxybenzoic acid, which is odourless and colourless. It is widely used in the pharmaceutical as well as in the cosmetic industry. It has antioxidant properties, which make it a popular chemical in the personal care and cosmetics industry. Thus, pharmaceutical and personal care are some of the significant end-use sectors of the product, which are driving the growth of the global salicylic acid market. Salicylic acid has been adopted as a significant ingredient in personal care products by major players such as Procter & Gamble (NYSE: PG) and Unilever (NYSE: UL). There has also been an increase in the demand for the use of salicylic acid as preservatives to extend the shelf-life of products such as sauces, beer, and wine.
As salicylic acid is used extensively in cosmetics, the consumers are increasingly looking for natural and organic products to ensure that they are not being exposed to harmful chemicals. In 2016, Alban Muller, specialising in the creation and production of natural products catering to beauty and health industries, launched the first 100 % natural salicylic acid. Amiperfect ER, the new ingredient, is a plant extract and, thus, far preferable than its other variants. This version will tap into the growing consumer demands for natural products. It is supposed to have multiple skin and hair benefits like wrinkle smoothening and tackling oily and dandruff prone hair. This new formula is supposed to follow two major trends – anti-ageing and naturals. The launch of such products by the industry players is expected to propel the growth of the market in the coming years as well.
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The major players in the global salicylic acid market are Seqens (Novacap), JM Loveridge Limited, Zhenjiang Gaopeng Pharmaceutical Co., Ltd, Hebei Jingye Group, and Siddharth Carbochem Products Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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