Octyl Salicylate Market Research, 2031
The global octyl salicylate market size was valued at $1.1 billion in 2021, and is projected to reach $1.8 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.
Octyl salicylate is a chemical sunscreen ingredient that is oil soluble and absorbs UVB rays. It is an ester manufactured by the condensation of salicylic acid with 2-ethylhexanol. It is a colorless oil-soluble liquid with a slightly floral odor. Octyl salicylate is also used to treat pain, fever, and inflammation. Octyl salicylate is a well-known and commonly used nonsteroidal anti-inflammatory medication. It is found in cosmetics and sunscreens, where it assists in the absorption of UVB radiation from the sun. Sunscreen has poor UVB absorption and is typically used in conjunction with other chemical absorbing sunscreen treatments.2-Ethylhexyl salicylate, 2-Ethylhexyl ester salicylic acid, Octisalate, and Ethylhexyl salicylate are the other names for octyl salicylate.
Further, octyl salicylate adds a creamy, sand-like texture to perfume, giving it a gentle and mellow balsamic scent. These scents are found in cosmetics, shampoos, toilet soaps, and other toiletries, as well as non-cosmetic items like home cleansers and detergents. It is also used in the soap business to treat acne by exfoliating the skin and keeping pores clean. Octyl salicylate soap is used to treat acne as part of a skin care treatment, which include a toner, spot treatment, and moisturizer.
Increase in use of octyl salicylate in fragrances, sunscreens, UV light absorbers, denaturants, and flavorings is anticipated to drive the octyl salicylate market growth. However, moderate toxicity associated with octyl salicylate is anticipated to hamper the growth of the octyl salicylate market. On the contrary, growth of the personal care & cosmetics industry is expected to generate lucrative opportunities for the global octyl salicylate industry.
The octyl salicylate market is segmented into type, application, and region. On the basis of type, the market is categorized into colorless and light yellow. On the basis of application, the market is categorized into perfume, soap, cosmetics, sunscreens, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The octyl salicylate market share is analyzed across all significant regions and countries.
The major players operating in the global octyl salicylate market include, AAKO, Aceto Corporation, Clariant, Ernesto Ventós S.A., Labdhi Chemicals, MFCI CO., LTD., Otto Chemie Pvt. Ltd., Prakash Chemicals International Private Limited, Rishabh Metals and Chemical Pvt. Ltd., Siddharth Carbochem Products, TCI Chemicals, Toronto Research Chemicals, Unicorn Petroleum, Universal Esters, and Universal Preserv-A-Chem Inc.
Asia-Pacific dominated the market with the highest revenue share in 2021. In Asia-Pacific, octyl salicylate is primarily found in sunscreen creams, lotions, sprays, and sticks. Octyl salicylate is a typical UV filter found in cosmetics and sunscreens in the region. Sunscreen has been one of the fastest-growing categories in China's cosmetic industry, and its growth is predicted to continue during the forecast period.
Colorless segment dominated the global octyl salicylate market in terms of revenue, in 2021. Octyl salicylate is a colorless liquid with a slight fragrant scent. It has been utilized in a variety of sectors, including cosmetics and personal care products, such as shampoos, moisturizers, and make-up. Colorless octyl salicylate is used as UV filter in cosmetics and pharmaceutical formulations.
Perfume segment dominated the global octyl salicylate market in terms of revenue, in 2021. Octyl salicylate is used in perfume as a solvent for crystalline synthetic musks component and fixative floral scents, such as carnation, jasmine, lilac, and wallflower. The chemical components of octyl salicylate create a creamy, sand-like quality to a fragrance that has a smooth and mellow balsamic scent. Octyl salicylate is found in various fragrance compounds, such as ornamental cosmetics, fine scents, shampoos, toilet soaps, and other toiletries, as well as non-cosmetic items, such as home cleansers and detergents.
COVID-19 Analysis:
The COVID-19 pandemic had negative impact on the manufacture of cosmetics and sunscreen, as well as the import and export of chemicals, such as octyl salicylate. The COVID-19 pandemic has had a detrimental effect on the cosmetics industry, which is one of the major end-user industries of octyl salicylate. However, cosmetic use is likely to revert back to pre-COVID levels for lip, eye, and skin cosmetics.
Further, the pandemic has greatly impacted consumer preferences and societal behavior regarding sun protection and skin cancer. Hybrid Sport Sunscreen containing 7% octyl methoxycinnamate, and 1.0% octyl salicylate is highly demanded in healthcare facilities, including hospitals, clinics, nursing homes, and cancer centers. As per IMPACT Melanoma, despite nationwide supply chain disruptions, sunscreens remained available for distribution, with hybrid sunscreens ordered most frequently. Orders of hybrid sunscreen increased by 41%, driven primarily by hospitals, which also ordered more sunscreen dispensers and experienced raised volume at facilities and outreach events (vaccination drives) during the pandemic.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the octyl salicylate market analysis from 2021 to 2031 to identify the prevailing octyl salicylate market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the octyl salicylate market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global octyl salicylate market trends, key players, market segments, application areas, and market growth strategies.
Octyl Salicylate Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 1.8 billion |
 Growth Rate | CAGR of 5.4% |
 Forecast period | 2021 - 2031 |
 Report Pages | 200 |
 By Type |
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 By Application |
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 By Region |
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 Key Market Players | AAKO, ERNESTO VENTÓS S.A, TORONTO RESEARCH CHEMICALS, TOKYO CHEMICALS, SIDDHARTH CARBOCHEM PRODUCTS, PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED, MFCI CO.,LTD, UNICORN PETROLEUM INDUSTRIES PVT LTD, UNIVERSAL PRESERV-A-CHEM INC., CLARIANT, RISHABH METALS AND CHEMICAL PVT. LTD, OTTO CHEMIE PVT LTD, LABDHI CHEMICAL PRIVATE LIMITED, UNIVERSAL ESTERS LTD, ACETO CORPORATION |
Analyst Review
According to the perspective of the CXOs of leading companies, the octyl salicylate market is anticipated to grow in the near future due to its extensive use in applications, such as perfume, shampoos, soap, cosmetics, and sunscreens. It is a chemical component that adds a creamy, sand-like texture to perfume, giving it a gentle and mellow balsamic scent. These scents are found in cosmetics, shampoos, toilet soaps, and other toiletries, as well as non-cosmetic items like home cleansers and detergents. It is also found in cosmetics and sunscreens, where it assists in the absorption of UVB radiation from the sun. Octyl salicylate is widely used in the cosmetics industry as lipsticks and lip balms, moisturizers, nail polish, and others.
Further, growth of the personal care & cosmetics industry is expected to drive the market growth during the forecast period. However, moderate toxicity associated with octyl salicylate is likely to hinder the market growth.
The Asia-Pacific region is projected to register a robust growth during the forecast period.
The octyl salicylate market was valued at $1.1 billion in 2021, and is projected to reach $1.8 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.
Asia-Pacific is the largest regional market for Octyl Salicylate.
Perfume is the leading application of Octyl Salicylate Market.
The growth of the global octyl salicylate market is majorly attributable to its wide applications in perfume, soap, cosmetics, sunscreens, and others. However, moderate toxicity associated with octyl salicylate is projected to hinder the expansion of the market. On the contrary, growth of the personal care & cosmetics industry is expected to offer ample growth opportunities for the octyl salicylate market.
The top companies to hold the market share in Octyl Salicylate include, AAKO, Aceto Corporation, Clariant, Ernesto Ventós S.A., Labdhi Chemicals, MFCI CO., LTD., Otto Chemie Pvt. Ltd., Prakash Chemicals International Private Limited, Rishabh Metals and Chemical Pvt. Ltd., Siddharth Carbochem Products, TCI Chemicals, Toronto Research Chemicals, Unicorn Petroleum, Universal Esters, and Universal Preserv-A-Chem Inc.
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