Salicylic Acid Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3712
Salicylic acid market expansion can be attributed to the increasing occurrence of various skin disorders, hair problems, and numerous health concerns that arise with age. An essential naturally occurring compound, salicylic acid is known for its excellent antimicrobial and anti-inflammatory properties and is widely used in pharmaceutical formulations, cosmetics, and personal care products.
Acne is one of the most common skin problems across the world. In the U.S. alone it affects more than 50 million people each year, according to the American Academy of Dermatology (AAD). While it usually occurs during puberty and affects teenagers and young adults, acne can also occur in older adults at any stage of life.
Salicylic acid is often used to treat mild to moderate acne and can also be used in combination with other acne treatments in severe cases. When applied to the skin, it works by helping the skin shed dead cells, leading to reduced swelling and redness and faster healing. Besides alleviating the formation of acne, salicylic acid can help enhance skin tone and maintain oil balance.
Salicylic acid is beginning to find new applications in haircare products such as shampoos and conditioners as more and more consumers today are looking for natural and organic products. The rising occurrence of skin and hair related problems and increased consumer spending on premium quality cosmetics and personal care items should positively impact salicylic acid industry trends.
Since 2020, wearing a face mask has become a part of people’s daily routines in an effort to slow the spread of COVID-19 infections. Today, it is required in many public places, such as grocery stores, malls, and restaurants. However, breakouts on the face from wearing a mask regularly known as maskne or mask acne has emerged as a common side effect. Maskne doesn’t simply cause pimples but can also lead to redness, irritation, and bumpiness.
Numerous skincare solutions using salicylic acid aimed to alleviate the formation of maskne have since been introduced in the market. In May 2021, for instance, cosmetics and personal care company Kiehl’s had launched Breakout Control Blemish Treatment Facial Lotion, a moisturized enriched with salicylic acid. It is formulated to reduce blemishes, sooth skin feel, and provide a clear complexion.
Alta Laboratories, Seidler Chemical Company, Siddharth Carbochem Products, Cropnosys, Hebei Jingye Group, Shandong Xinhua Longxin Chemical, Zhenjiang Gaopeng Pharmaceutical, Simco QC, and Novacap are some of the major salicylic acid manufacturers worldwide.
COVID-19 pandemic and its impact on salicylic acid industry forecast
As the COVID-19 pandemic evolved, it has had a dual impact on the salicylic acid market trends. Initially during the first half of 2020, the demand for salicylic acid declined significantly as a vast majority of consumers focused on stocking up on essential household items, leading to reduced sales of cosmetics and personal care products. Also, government restrictions enforced to contain the spread of the coronavirus led to numerous supply chain and logistics disruptions, resulting in raw material shortages and delay in production.
However, as the pandemic progressed, personal care products with natural and organic products witnessed robust adoption, with many individuals focusing on improving skin and hair health amid lockdown and social restrictions. Also, consistent demand for pharmaceuticals throughout the pandemic has provided salicylic acid suppliers with continuous opportunities. Improving sales of beauty and cosmetic products and gradual ease of lockdown restrictions should ensure lucrative growth prospects for the salicylic acid industry in the forthcoming years.
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