Salicylic Acid Market Top Players, Global Trends, BusinessOpportunities, and Industry Forecast till 2023
“Global Salicylic Acid Market is estimated to develop at a substantial CAGR of 6.4% for the duration of the prediction. Growing ingestion of aspirin tablets due to greater pain relieving act coupled with easy obtainability of the medicine, is estimated to boost the demand for it.”
The Global Salicylic Acid Market is estimated to develop at a substantial CAGR of 6.4% for the duration of the prediction. It is obtained from the usual source i.e., woof of willow tree or produced by chemical mixture of phenol, on the commercial basis. Increasing demand for salicylic acid in the production of skin care cosmetic and haircare products due to increasing customers’ awareness about its paybacks is projected to motivate the demand above the prediction period. It is broadly utilized in the production of aspirin. Growing ingestion of aspirin tablets due to greater pain relieving act coupled with easy obtainability of the medicine, is estimated to boost the demand for it. On the other hand, growing concerns about the side effects of aspirin are likely to obstruct the progress of the market. The salicylic acid market on the source of Type of Application could span Cosmetics, Medicinal and Foodstuff & Preservatives. The market is ruled by subdivision of Medicinal application due to growing usage of salicylic acid centered medicines for the treatment of Hughes syndrome, numerous skin-associated sicknesses, and for cardiac sicknesses. The subdivision of foodstuff & Preservatives is estimated to witness greater development percentage (more than 7%) for the duration of prediction. Increasing usage of it and its byproducts in the foodstuff and liquid refreshment manufacturing to avert fermentation and decomposition is estimated to upsurge the demand. Furthermore, increasing usage in the form of preservatives is expected to extend the shelf life of foodstuffs like wine, beer and sauces.