Methyl salicylate: Introduction
- Methyl salicylate is a chemical that smells like wintergreen. Demand for methyl salicylate is increasing in several over-the-counter products, including muscle ache creams.
- Methyl salicylate is an external analgesic found in over-the-counter (OTC) medicines that temporarily relieve minor body aches and muscle and joint pain associated with backache, arthritis, strains, sprains, and bruises. Methyl salicylate can also be found in topical pain medicines (e.g., creams or ointments) that contain more than one external analgesic active ingredient.
- Increasing usage of methyl salicylates in end-user industries; rising demand for candies, chewing gums, and mints; and increasing awareness about personal care products are key factors propelling the demand for methyl salicylate
- Rise in usage of methyl salicylate for production of fragrances and as preservative in food is also expected to fuel the market in the near future. Furthermore, a rise in the demand for salicylic acid and related compounds as masking agents for organophosphate pesticides is projected to offer significant opportunities for the market in the near future.
Methyl Salicylate Market: Segments
- The methyl salicylate market can be segmented based on purity, application, and region
- Based on purity, the methyl salicylate market can be divided into high purity methyl salicylate and Low purity methyl salicylate
- In terms of application, the global methyl salicylate market can be classified into food & beverage, cosmetics, pharmaceuticals, and others
COVID-19 Impact on Methyl Salicylate Market
- The COVID-19 pandemic has impacted a large number of countries across the globe. However, various measures introduced to deal with the pandemic, such as lockdowns, fall in trade activities, closing of various factories and workplaces in several countries, could save lives but they led to wide-ranging economic effects inducing economic contagion.
- Shortage in supply of raw materials from various manufacturers of methyl salicylate around the globe has resulted in a severe demand-supply gap. Manufacturers are further expected to be stranded on raw material orders owing to the logistics industry being significantly impacted due to the lockdown amid COVID-19.
- The shutdown in various countries across the globe has prohibited import of various components include additives and raw materials that are required to enhance performance, thereby hampering application industries
Asia Pacific to Dominate Global Methyl Salicylate Market
- In terms of geography, the global methyl salicylate market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa
- China, India, and Japan are leading the methyl salicylate market in Asia Pacific due to an increase in the demand for cosmetic products in these countries
- North America is the emerging region of the global methyl salicylate market. Increase in population, changing lifestyle, and improvement in disposable income are key reasons boosting the methyl salicylate market in the region. North America is projected to expand significantly owing to an increase in healthcare expenditure and a rise in number of research & development activities in the pharmaceutical sector. Additionally, rising investment of government agencies for the development of enhanced medicines is also expected to fuel the market in the region.
- The methyl salicylate market in Europe, particularly in countries such as the U.K., Germany, and France, has been expanding significantly due to rapid industrialization. The processing of methyl salicylate primarily takes place in Denmark and France. Norway and the Netherlands are also expected to contribute significantly to methyl salicylate market in Europe. Expansion of the market in Europe can be ascribed to favorable government policies.
- Demand for methyl salicylate is expected to increase in Latin America and Middle East & Africa in the near future due to a rise in standard of living of people in these regions
Key Manufacturers Operating in Global Methyl Salicylate Market
Key manufacturers operating in the global methyl salicylate market include:
- Zhenjiang Gaopeng Pharmaceutical Co., Ltd.
- Alta Laboratories Ltd.
- Tokyo Chemical Industry Co., Ltd.
- Siddharth Carbochem Products Ltd.
- Thermo Fisher Scientific India Pvt. Ltd.
- Rephine Ltd
- Jiangsu Puyuan Chemical
- Nanjing Huajian Chemical
Global Methyl Salicylate Market: Research Scope
Global Methyl Salicylate Market, by Purity
Global Methyl Salicylate Market, by Application
- Food & Beverage
Global Methyl Salicylate Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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