Salicylic Acid Market Scope, Upcoming Trends, Outlook and Future Scenario Forecast Until 2023
Synopsis of Global Salicylic Acid Market Salicylic acid is obtained either from natural source i.e., bark of willow tree or artificial source i.e., carbolic acid. The application of salicylic acid is vast which includes health care, food preservatives and cosmetics. Drivers of this market are, increasing health awareness in developing countries which is responsible for high demand of skin care products and hair products. In addition to this sedentary lifestyle has increased the consumption of food and beverages where preservatives are added. However health care has accounted for the major share of the global salicylic acid market more than 35% in 2015, due to rising demand for aspirin and pain killers for various diseases. Globally, North-America and Europe are leading markets for salicylic acid primarily due to large population in these regions. Asia- Pacific region is expected to grow by the CAGR of XX% in the forecast period. Busy lifestyles and increasing number of diseases are driving this market. U.S. it is expected to reach USD XX million by 2022.
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