The report offers key drivers that propel the growth in the global AEA Ssalicyclic acid market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.
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According to the report published by Allied Market Research, the AEA salicyclic acid market was estimated at $274.5 million in 2020 and is expected to hit $553.8 million by 2030, registering a CAGR of 7.3% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, wavering market trends.
AEA Salicylic Acid Market growth is driven by increase in demand from the preserved food & beverage industry and growing inclination toward personal care products drive the growth of the AEA salicyclic acid market. On the other hand, rising consumer awareness about the harmful effects of products restrains the growth to some extent. However, high adoption of salicylic acid in the pharmaceuticals and cosmetics sector and surge in demand for aspirin drugs are expected to create lucrative opportunities in the industry.
The AEA salicyclic acid market is analyzed across application and region. Based on application, the pharmaceutical segment accounted for the major share in 2020, holding more than three-fourths of the total market. The skin care segment, however, would exhibit the fastest CAGR of 8.5% throughout the forecast period.
Based on region, Europe held the lion’s share in 2020, garnering around half of the total market. The market across Latin America, on the other hand, is expected to cite the fastest CAGR of 7.7% by the end of 2030. The other provinces studied in the report include North America and Africa.
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Covid-19 Scenario-
- Closure of saloons and beauty parlors, especially during the initial phase of the pandemic, gave way to rise in online sales of cosmetic products. This, in turn increased the demand for salicyclic acid from the personal care industry, thereby impacting the AEA salicyclic acid market positively.
- This trend is quite likely to continue post pandemic as well.
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The key market players analyzed in the AEA salicyclic acid market report include Avonchem Limited, Wego Chemical Group, J.M. Loveridge Limited, Reagents, Novacyl, Alfa Aesar, Midas Pharma GmbH, Solvay Merck KGaA. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.