According to the report published by Allied Market Research, the global premium salicylic acid market was estimated at $131.4 million in 2020 and is expected to hit $263.9 million by 2030, registering a CAGR of 7.2% from 2020 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Increase in demand for preserved food & beverages and several personal care products drives the growth of the global premium salicylic acid market. On the other hand, consumer awareness about certain harmful effects of the acid hampers the growth to some extent. However, high adoption of premium salicylic acid in pharmaceuticals and cosmetics and increase in demand for aspirin drugs are expected to create lucrative opportunities in the industry.
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The key market players analyzed in the global premium salicylic acid market report include Avonchem limited, J.M. Loveridge Limited, Alfa Aesar, Reagents, Novacyl, Midas Pharma GmbH, Wego Chemical Group, and 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.
Covid-19 Scenario-
Aspirin is an anti-inflammatory drug that is widely used as a painkiller and to treat fever, cold, and cough. The demand for aspirin witnessed a steep incline across the world, which boosted the premium salicylic acid market in more than one way.
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This demand is projected to continue post pandemic as well.
The global premium salicylic acid market is analyzed based on application and region. Based on application, the pharmaceutical segment generated the highest share in 2020, accounting for nearly 90% of the global market. The skin care segment, on the other hand, would portray the fastest CAGR of 9.3% from 2021 to 2030.
Based on region, the market across Asia-Pacific held the lion’s share in 2020, garnering more than one-third of the global market. The same region is also expected to cite the fastest CAGR of 7.6% by the end of 2030. The other provinces studied in the report include Europe, North America, and LAMEA.
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