Methyl salicylate, also referred to as wintergreen oil, is an organic salicylic acid & methanol. It is naturally made by different plant species, particularly wintergreens. The chemical is widely adopted across the industries of pharmaceuticals, food & beverages, and liniments. It also finds applications in perfumes, mints & chewing gums, muscular & joint aches, home-antiseptic products, and healthcare.
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These multiple applications bode well for the global and Chinese methyl salicylate market and drive its sales. The market has observed significant expansion in the last few years. The same was ascribed to expansion in its end-users and applications. Growth across pharmaceuticals has propelled the market. Multiplying industrial applications of this product have also assisted market revenues.
The chemical is categorized as a topical analgesic. Due to this, it is greatly used in pain-balms and necessary oil formulations (for arthritis treatment). It also serves an outstanding intermediate for synthesizing agrochemical, industrial, & pharmaceutical molecules. This too has contributed market consumption.
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Wintergreen oil is used in cosmetics, to treat acne, dandruff, psoriasis, & blemishes, and as a food preservative. Its multiple benefits have led vital manufacturers of the market to collaborate with other firms to sell innovative products and gain added shares. Methyl salicylate witnessed highest demand from matured markets like Europe and North America.
The same was credited to their skin & hair care industries, furthering demand in these regions. The Chinese market is estimated to experience the swiftest expansion during the forecast period (2015 to 2021). This would be attributed to growth in its pharmaceuticals and skin & hair care industries. Also, its modifying lifestyles and ‘skin & hair health’ awareness should fuel Chinese demand.
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However, higher demand for cosmetic & personal care products owing to health awareness is predicted to the key propeller of the global and Chinese methyl salicylate market. Initiatives supporting the pharmaceuticals industry and wide production of ointments & drugs may also drive this market in the near future.
Alternatively, the poisonous & injurious effects of methyl salicylate can hinder the market. When humans are exposed (externally) to this product, skin blisters and ‘stomach-lining’ irritation can occur. These drawbacks negatively impact the market.