Farmington, April 25, 2023 (GLOBE NEWSWIRE) -- The Octyl Salicylate Market Was Valued At $1.1 billion In 2022 And Is Expected To Expand $1.8 Billion By 2030 at a CAGR Of 5.4% From 2023 To 2030. The chemical compound octyl salicylate is also known by the names 2-ethylhexylsalicylate, octisalate, and benzoic acid. Salicylic acid and 2-ethylhexanol can be condensed to form the ester octyl salicylate. Octyl salicylate has a mild floral scent and is often colorless or pale yellow in appearance. Some chemical molecules have a vague or subtle scent. Octyl salicylate dissolves in a wide variety of solvents, including rubbing alcohol, isopropanol, olive oil, paraffin oil, dimethicone, mineral oil, and octyl palmitate. Organic chemicals, however, cannot be dissolved in water. For a wide variety of crystalline UV filters, including ethylhexyl triazone and butyl methoxydibenzoylmethane, octyl salicylate is an efficient solubilizer. To protect skin from the sun's harmful UVB rays, octyl salicylate is commonly included in cosmetics and sunblock. Sunscreens often include the antimicrobial ingredient octyl salicylate because it keeps the product from going bad. Water-insoluble oil-soluble UVB absorbers made from organic compounds have been in use for decades. Salicylates are utilized to boost SPF when combined with other UVs because they are poor UV B absorbers on their own. Octyl salicylate is added to emulsions, dyes, and polymers to prevent UV deterioration. Market data for octyl salicylate is shown for the years 2017–2030 (with 2022 being the base year of analysis) in terms of sales volume (K Units) and revenue (million USD). The market for octyl salicylate is broken down extensively in this study. We also provide regional product market sizes broken down by type, application, and key player. We factored in the effects of both COVID-19 and the conflict between Russia and Ukraine when calculating the potential size of the market.
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Segmentation Overview:
Product Definition:
The chemical compound octyl salicylate has found use in the cosmetics and pharmaceuticals sectors. It reduces pain and inflammation and lowers fever. Octyl salicylate is a common fragrance ingredient in soaps, detergents, and other personal care products, as well as an effective UV light absorber and sunscreen agent in cosmetics. It also has anti-mosquito properties.Colorless: Colorless The aroma of octyl salicylate is light and pleasant, and the liquid itself is clear. It finds use in the food, cosmetics, and pharmaceutical industries, among others. The forecast period sees demand for the product being driven by its increasing use in personal care products like shampoos, moisturizers, and make-up removers.Pale yellow: Pale yellow Octyl salicylate liquid has a distinct odor and appears as a clear, colorless to pale yellow liquid. Water does not dissolve it, and its density is 0.985 grams per cubic centimeter.
Application Insights:
Octyl salicylate is used in perfumes, soaps, cosmetics, and sunscreens. The perfume was the largest application segment with a volume share of over 40% in 2017. Octyl salicylate is considered an intermediate chemical for several fragrance companies and it has more than 25 different uses in perfumery. It acts as a fixative for various floral and fruity notes which are very common in modern-day perfumes. The high demand from the cosmetic industry for using this chemical compound to manufacture skincare products is expected to drive the global market over the forecast period due to its properties such as skin-soothing, antioxidant activity, and anti-inflammatory activities that help reduce redness caused due by acne or rashes on the skin surface.
Regional Analysis:
The Asia Pacific dominated the global market in terms of revenue with a share of over 40.0% in 2019. The regional growth is attributed to rising demand for the product from major application sectors such as perfumes, soaps, and cosmetics along with increasing production capacity in countries such as China and India. Furthermore, rapid industrialization coupled with government initiatives to promote foreign direct investments is expected to boost regional market growth over the forecast period. The industry players are also shifting their manufacturing facilities to emerging economies due to low labor costs and easy availability of raw materials/substances required for manufacturing products including octyl salicylate which is one of its kind globally.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 5.4% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 1.8 Billion |
| By Type |
|
| By Application |
|
| By Companies |
|
| Regions and Countries Covered |
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| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Key Segments Covered:
Top Market Players:
- Universal Esters
- Siddharth Carbochem Products
- MFCI Co
- Clariant
- Others.
By Type:
- Colorless
- Light Yellow
- Other
By Application:
- Perfume
- Soap
- Cosmetics
- Sunscreens
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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