Global salicylic acid market analysis in 2024

The global salicylic acid market was valued at USD 447.5 million in 2023 and the expected value by 2032 is USD 746.4 million, with a Compound annual growth rate (CAGR) of 5.8%. Salicylic acid is a beta-hydroxy acid. It is isolated from the bark of willow trees. It is present as an active ingredient In skincare, haircare, food preservatives, and pharmaceuticals.

Salicylic acid benefits

Salicylic acid is a keratolytic that helps exfoliate the skin. It is used for black and white heads, keeping pores clear. It also reduces inflammation and acne. Salicylic acid treats psoriasis, dandruff, and warts on the hands or feet. Also, Salicylic acid is an active ingredient in pharmaceutical products like aspirin. Aspirin is one of the most common analgesics, anti-inflammatory, and blood thinner.

Regional analysis of the global Salicylic acid market

Asia

Asia is expected to achieve the highest growth in the market of salicylic acid with a CAGR of 8.2% from 2023 to 2030. India, China, and Japan are major contributors in Asia.

North America

North America is a leader in the salicylic acid market. It is expected to achieve growth with a CAGR of 7,7%.

Europe

Europe’s salicylic acid market is anticipated to grow with a CAGR of 7.5%. The revenues of Europe were 33.5% of the global salicylic acid market in 2024.

Salicylic acid market exports and imports

Total exports In the world were 6,483 shipments of salicylic acid from Mar 2023 to Feb 2024. The largest exporter of salicylic acid is India with 10,897 shipments (30% of the market share). The following countries are China with 8,219 shipments (23% of the market share) and Mexico with 4,982 shipments (14% of the market share).

However, the main importers in the salicylic acid global trade are India, Mexico, and Russia. India imports 33% of the market share, counted by 6,881 shipments. Then Mexico imports 3,158 shipments ( 15% of the market share ) and Russia imports 2,407 shipments ( 12% of the market share ).