Octyl Salicylate Market Size Worth $1.8 Billion by 2031 | CAGR: 5.4%: AMR

Increase in use of octyl salicylate in fragrances, sunscreens, UV light absorbers, denaturants, and flavorings drive the growth of the global octyl salicylate market. Based on application, the perfume segment held the major share in 2021. By region, on the other hand, Asia-Pacific would cite the fastest CAGR by 2031.

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Portland, OR, Oct. 16, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global octyl salicylate market was estimated at $1.1 billion in 2021 and is expected to hit $1.8 billion by 2031, registering a CAGR of 5.4% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

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Report Coverage & Details:

Report CoverageDetails
Forecast Period2022­–2031
Base Year2021
Market Size in 2021$1.1 Billion
Market Size in 203$1.8 Billion
CAGR5.4%
No. of Pages in Report200
Segments CoveredType, Application, and Region.
Drivers Increase in use of octyl salicylate in fragrances, sunscreens, UV light absorbers, denaturants, and flavorings
OpportunitiesGrowth of the personal care & cosmetics industry
RestraintsModerate toxicity associated with octyl salicylate


Covid-19 Scenario-

  • The Covid-19 pandemic had negative impact on the manufacture of cosmetics and sunscreen, as well as on the import and export of chemicals, such as octyl salicylate. This, in turn, impacted the market negatively.
  • However, on the other hand, the pandemic had positively impacted consumer preferences and societal behavior regarding sun protection and skin cancer, which boosted the demand for octyl salicylate in cosmetics and sunscreens applications.

The global octyl salicylate market is analyzed across type, application, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

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Based on type, the colorless segment held nearly three-fourths of the total market revenue in 2021, and is expected to dominate by 2031. The light-yellow segment, on the other hand, would manifest the fastest CAGR of 5.8% throughout the forecast period.

Based on application, the perfume segment garnered more than two-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The cosmetics segment, however, would project the fastest CAGR of 6.0% throughout the forecast period.

Based on region, the global octyl salicylate market across Asia-Pacific generated more than half of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The same region would also showcase the fastest CAGR of 5.9% throughout the forecast period. The other provinces analyzed through the report include North America, Europe, and LAMEA.

The key market players analyzed in the global octyl salicylate market report include Rishabh Metals and Chemical Pvt. Ltd., Aceto Corporation, Clariant, MFCI CO., LTD., Prakash Chemicals International Private Limited, Otto Chemie Pvt. Ltd., Ernesto Ventós S.A., Siddharth Carbochem Products, TCI Chemicals, Toronto Research Chemicals, Universal PreservA-Chem Inc., AAKO, Unicorn Petroleum, Labdhi Chemicals, and Universal Esters. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players. 

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