The North America Salicylic Acid Market would witness market growth of 6.7% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 43,612.42 tonnes, showcasing a growth of 5.9% (2019-2022).
Salicylic acid, with the chemical formula C7H6O3, is a beta hydroxy acid, a lipophilic monohydroxy benzoic acid, and phenolic acid. It possesses the physical characteristics of an odourless, colorless crystalline organic acid. Salicylic acid is used as an intermediate in the pharmaceutical and personal care sectors. The pharmaceutical sector has been a primary driver of the adoption of salicylic acid. As the key component in aspirin, one of the most widely consumed over-the-counter medications. The established safety profile of salicylic acid further facilitates its adoption in various pharmaceutical products.
The cosmetic industry has witnessed a surge in the adoption of salicylic acid, particularly in skincare products. Salicylic acid, which is well-known for its exfoliating qualities, is an essential component in cleansers, toners, masks, and spot treatments designed to treat acne and enhance skin texture. The adoption in this industry is driven by consumer demand for effective solutions to common skin concerns, and salicylic acid's efficacy in promoting clear and healthy skin has positioned it as a staple in many skincare formulations.
The Mexican Online Sales Association estimates that the domestic e-commerce sector was worth USD 19.7 billion in 2021, an increase of 27% over 2020. In 2021, there were 57.5 million users of Mexican eCommerce, up 11% from the previous year. Hence, the factors mentioned above will drive the regional market growth.
The US market dominated the North America Salicylic Acid Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $213 million by 2030. The Canada market is experiencing a CAGR of 9.1% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 8.1% during (2023 - 2030).
Free Valuable Insights: The 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 U.S., Mexico, Canada, and Rest of North America.
By Application (Volume, Tonnes, USD Million, 2019-2030)
By Country (Volume, Tonnes, USD Million, 2019-2030)
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