The Asia Pacific Salicylic Acid Market would witness market growth of 8.2% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 35,912.81 tonnes, showcasing a growth of 7.2% (2019-2022).
Salicylic acid's ability to inhibit microbial growth makes it useful in preserving art and historical artifacts, protecting them from deterioration caused by microorganisms. Salicylic acid is incorporated into topical treatments for various skin conditions, including warts and psoriasis. It is used in foot care products, particularly in formulations designed to address calluses and corns. Salicylic acid is utilized in dermatology for treating conditions like psoriasis and warts due to its keratolytic and exfoliating properties. Salicylic acid is used in veterinary medicine to treat animal skin conditions, showcasing its broader applicability.
Ongoing research and development activities have been focused on creating innovative drug formulations using salicylic acid and exploring new therapeutic areas beyond traditional pain relief and anti-inflammatory applications. There has been an increasing demand for skincare and cosmetic products containing natural ingredients. Salicylic acid, derived from willow bark, aligns with the trend of natural and plant-based skincare, driving its adoption in various cosmetic formulations. Salicylic acid's role as a plant growth regulator and stress alleviator aligns with the broader trend toward sustainable agriculture.
As per Invest India, the pharmaceutical industry in India is anticipated to increase to $65 billion by 2024 and $130 billion by 2030. One of the world's largest suppliers of inexpensive vaccines is India. India is a significant exporter of pharmaceuticals. Therefore, due to the above-mentioned factors, the salicylic acid market will grow significantly in this region.
The China market dominated the Asia Pacific Salicylic Acid Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $59.1 million by 2030. The Japan market is registering a CAGR of 7.6% during (2023 - 2030). Additionally, The India market would experience a CAGR of 8.9% during (2023 - 2030).
Free Valuable Insights: The Global Salicylic Acid Market is Predict to reach $854.8 Million by 2030, at a CAGR of 7.4%
Based on Application, the market is segmented into Pharmaceutical, Skin Care, Hair Care, and Food Preservatives & Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Application (Volume, Tonnes, USD Million, 2019-2030)
By Country (Volume, Tonnes, USD Million, 2019-2030)
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