Albany, NY -- (SBWIRE) -- 04/08/2015 -- Salicylic acid is a crystalline and colorless substance with anti-inflammatory and analgesic properties. A major proportion of the salicylic acid produced globally is used as a key ingredient in aspirin manufacturing. Additionally, salicylic acid also helps cure skin ailments such as acne, blemishes, dandruff, and psoriasis. It is also used as a preservative in food, apart from being used in the manufacture of fragrances and chemicals.

Driven by the overall growth of the global skincare and hair care market, the market for salicylic acid will exhibit growth at an 8.6% CAGR between 2013 and 2019. According to recently published market reports, the global salicylic acid market, which stood as US$292.5 million in 2012, is expected to be worth US$521.2 million by the end of 2019. In terms of volume, the demand for salicylic acid, which totaled 95,000.0 tons in 2012, is poised to grow at a 6.4% CAGR from 2013 to 2019.

Increasing Consumer Awareness to Drive Growth of Salicylic Acid Market

Consumers worldwide have become increasingly aware about the benefits offered by salicylic acid for hair and skin health. This has significantly contributed to boosting the growth trajectory of the global salicylic acid market. In addition, the rising demand for aspirin will keep the demand for salicylic acid high in the near future as well.

Despite registering impressive growth, the market for salicylic acid will also have to combat substantial challenges. Exposure to salicylic acid through unwarranted external application and excessive consumption can cause side effects such as skin blisters, irritation of stomach lining, and intoxication. Manufacturers need to address these issues in order to be certain of a hindrance-free and sustainable growth of their market operations.

Many research studies have been conducted in the last few years to evaluate the uses and applications of salicylic acid in various applications. As revealed by these reports, salicylic acid can also be used as a prevention measure against dementia, Hughes Syndrome, and stroke. Such attributes are likely to drive the market in the near future.

Skin Care Likely to be Fastest Growing Application Segment

On the basis of application, the market for salicylic acid is segmented into skincare, pharmaceutical, healthcare, and others (including chemical, food, and fragrances). Within the present global salicylic market, pharmaceuticals were the largest segment, accounting for more than 50% of the total volume of demand from the market in 2012. Apart from aspirin manufacture, salicylic acid is also used as an additive in a wide range of drugs and ointments. Therefore, the expansion of the global pharmaceutical market, spurred on by initiatives adopted by governments of various nations together with rising awareness about general well being, is expected to boost demand for salicylic acid in the forthcoming years. However, the demand registered by the skincare segment will soon surpass that from the pharmaceuticals segment to emerge as the largest application segment.

Driven by Expansion of Pharmaceutical Industry, Asia Pacific to Emerge as Largest Regional Market

Geographically, the market for salicylic acid is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America accounted for 60% of the total market in 2012, followed by Europe. The thriving market for salicylic acid in North America is attributed to the high demand for skincare and hair care products in the major economies of the region. Moreover, North America is home to many large-scale pharmaceutical companies, which also positively impacted the growth of the salicylic acid market.

However, as per recent reports, Asia Pacific is likely to emerge as the fastest growing market for salicylic acid between 2013 and 2019. This market will be driven by the expanding pharmaceutical industry and skincare and hair care markets.

Novacap and Simco Chemicals Inc., J.M. Loveridge Limited, and Alfa Aesar are among the key participants in the market.

Browse Full Global Salicylic Market Report With Complete TOC @ http://www.transparencymarketresearch.com/salicylic-acid.html

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