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CHEMICALS AND ADVANCED MATERIALS

Methyl Salicylates Market Segmentation by Application (Pharmaceuticals, Food & Beverage, Cosmetics & Personal Care, and Others); by Purity (High, and Low) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Methyl Salicylates Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Methyl Salicylates Market Highlights 2022 – 2030

The methyl salicylates market is estimated to garner a large revenue by recording a CAGR of ~4% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing usage of methyl salicylates in end user industries, growing demand for candies, chewing gums and mints, and rising consciousness associated with personal care products. In 2017, the total non-chocolate chewy candy worth USD 4.8 billion were sold in the United States. Every year the candy industry generates a total revenue of more than USD 34 billion in the country. Along with this, escalating usage of methyl salicylates for production of fragrances and as preservatives in food is also expected to drive market growth in the forthcoming years. Furthermore, rise in demand for salicylic acid and related compounds as masking agents for organophosphate pesticides is projected to offer lucrative opportunities to the market in the near future.

Global-Methyl-Salicylates-Market-Overview

The market is segmented by application into pharmaceuticals, food & beverage, cosmetics & personal care, and others, out of which, the cosmetics & personal care segment is anticipated to hold the largest share in the methyl salicylates market on account of the extensive deployment of the product as a topical analgesic for formulation of essential oils and pain-relieving rubs. Apart from this, increasing sales of medical applications to cure skin diseases, dandruff, blemishes and acne is also assessed to drive growth to the market segment in the future. Additionally, the pharmaceutical segment is also predicted to occupy significant market share ascribing to the growing number of government initiatives to spread awareness about the well-being of consumers and high demand for the product to manufacture ointments and gels. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Chemicals-Value-Added-in-Manufacturing

 

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Methyl Salicylates Market Regional Synopsis

On the basis of geographical analysis, the methyl salicylates market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of expansion of hair and skin care industries, and high manufacturing of salicylic acid and related products in countries, namely China and India. For instance, Asia Pacific generated sales of more than 31% in the hair care industry in 2018. Moreover, the market in North America is anticipated to occupy the largest market share during the forecast period, which can be credited to the increasing healthcare expenditure, and growing number of research & development activities in the pharmaceutical sector. In addition, rising investment of government agencies for the development of enhanced medicines is also expected to fuel the progress of the market in the region.

The methyl salicylates market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the methyl salicylates market includes the following segments:

By Application

  • Pharmaceuticals
  • Food & Beverage
  • Cosmetics & Personal Care
  • Others

By Purity

  • High
  • Low

Growth Drivers

  • Rising Use of Methyl Salicylates in End User Industries
  • Increasing Awareness Regarding Personal Care in the World

Challenges

  • Toxicity of Methyl Salicylate

Top Featured Companies Dominating the Market

  • Zhenjiang Gaopeng Pharmaceutical Co., Ltd.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Alta Laboratories Ltd.
  • Novacyl
  • Tokyo Chemical Industry Co., Ltd.
  • Siddharth Carbochem Products Ltd.
  • Thermo Fisher Scientific India Pvt. Ltd.
  • Rephine Ltd
  • Jiangsu Puyuan Chemical
  • Nanjing Huajian Chemical
  • Shandong Longxin Chemical

 

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