Jun 1, 2025
IndexBox has just published a new report: GCC – Salicylic Acid And Its Salts – Market Analysis, Forecast, Size, Trends And Insights.
The demand for salicylic acid and its salts in the GCC region is projected to continue to rise over the next decade, with a forecasted increase in market volume to 2.1K tons by 2035. The market performance is expected to slow down, expanding at a CAGR of +0.8% from 2024 to 2035, reaching a market value of $4.7M by the end of 2035.
Market Forecast
Driven by increasing demand for salicylic acid and its salts in GCC, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.8% for the period from 2024 to 2035, which is projected to bring the market volume to 2.1K tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +1.2% for the period from 2024 to 2035, which is projected to bring the market value to $4.7M (in nominal wholesale prices) by the end of 2035.
Consumption
GCC’s Consumption of Salicylic Acid And Its Salts
In 2024, consumption of salicylic acid and its salts was finally on the rise to reach 1.9K tons after three years of decline. Over the period under review, consumption enjoyed tangible growth. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.
The revenue of the salicylic acid market in GCC soared to $4.2M in 2024, surging by 69% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $4.5M in 2013; however, from 2014 to 2024, consumption failed to regain momentum.
Consumption By Country
Saudi Arabia (1.7K tons) remains the largest salicylic acid consuming country in GCC, accounting for 88% of total volume. Moreover, salicylic acid consumption in Saudi Arabia exceeded the figures recorded by the second-largest consumer, the United Arab Emirates (189 tons), ninefold.
In Saudi Arabia, salicylic acid consumption expanded at an average annual rate of +2.6% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of consumption growth: the United Arab Emirates (+12.5% per year) and Bahrain (+15.5% per year).
In value terms, Saudi Arabia ($3.3M) led the market, alone. The second position in the ranking was held by the United Arab Emirates ($662K).
From 2013 to 2024, the average annual rate of growth in terms of value in Saudi Arabia was relatively modest. The remaining consuming countries recorded the following average annual rates of market growth: the United Arab Emirates (+11.6% per year) and Bahrain (+9.7% per year).
In Saudi Arabia, salicylic acid per capita consumption remained relatively stable over the period from 2013-2024. In the other countries, the average annual rates were as follows: the United Arab Emirates (+11.2% per year) and Bahrain (+12.0% per year).
Production
GCC’s Production of Salicylic Acid And Its Salts
In 2024, salicylic acid production in GCC stood at 1.8K tons, approximately equating the year before. The total output volume increased at an average annual rate of +1.6% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 38%. As a result, production reached the peak volume of 2.3K tons. From 2019 to 2024, production growth failed to regain momentum.
In value terms, salicylic acid production expanded rapidly to $3.5M in 2024 estimated in export price. Over the period under review, production, however, saw a perceptible descent. The pace of growth was the most pronounced in 2018 with an increase of 30%. The level of production peaked at $4.7M in 2013; however, from 2014 to 2024, production failed to regain momentum.
Production By Country
The country with the largest volume of salicylic acid production was Saudi Arabia (1.8K tons), accounting for 99% of total volume.
From 2013 to 2024, the average annual rate of growth in terms of volume in Saudi Arabia stood at +1.6%.
Imports
GCC’s Imports of Salicylic Acid And Its Salts
In 2024, supplies from abroad of salicylic acid and its salts increased by 25% to 390 tons, rising for the sixth consecutive year after two years of decline. Over the period under review, imports enjoyed a perceptible increase. The pace of growth was the most pronounced in 2019 with an increase of 75%. Over the period under review, imports attained the peak figure in 2024 and are expected to retain growth in the immediate term.
In value terms, salicylic acid imports skyrocketed to $1.5M in 2024. In general, imports recorded moderate growth. The growth pace was the most rapid in 2019 with an increase of 91% against the previous year. Over the period under review, imports attained the peak figure in 2024 and are expected to retain growth in the immediate term.
Imports By Country
The United Arab Emirates (193 tons) and Saudi Arabia (161 tons) dominates imports structure, together comprising 91% of total imports. It was distantly followed by Bahrain (33 tons), constituting an 8.5% share of total imports.
From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bahrain (with a CAGR of +42.6%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest salicylic acid importing markets in GCC were Saudi Arabia ($670K), the United Arab Emirates ($634K) and Bahrain ($137K), together comprising 99% of total imports.
Saudi Arabia, with a CAGR of +37.9%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices By Country
The import price in GCC stood at $3,737 per ton in 2024, remaining stable against the previous year. Overall, the import price, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2017 when the import price increased by 40% against the previous year. The level of import peaked at $5,410 per ton in 2020; however, from 2021 to 2024, import prices remained at a lower figure.
Average prices varied somewhat amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was Saudi Arabia ($4,162 per ton), while the United Arab Emirates ($3,282 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.3%), while the other leaders experienced a decline in the import price figures.
Exports
GCC’s Exports of Salicylic Acid And Its Salts
In 2024, after three years of growth, there was significant decline in overseas shipments of salicylic acid and its salts, when their volume decreased by -68% to 325 tons. In general, exports, however, posted a mild increase. The pace of growth was the most pronounced in 2017 with an increase of 143% against the previous year. Over the period under review, the exports hit record highs at 1.7K tons in 2018; however, from 2019 to 2024, the exports remained at a lower figure.
In value terms, salicylic acid exports declined notably to $206K in 2024. Over the period under review, exports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when exports increased by 155%. Over the period under review, the exports attained the maximum at $1.3M in 2018; however, from 2019 to 2024, the exports failed to regain momentum.
Exports By Country
The biggest shipments were from Saudi Arabia (321 tons), together finishing at 99% of total export.
Saudi Arabia was also the fastest-growing in terms of the salicylic acid and its salts exports, with a CAGR of +1.1% from 2013 to 2024. The shares of the largest exporters remained relatively stable throughout the analyzed period.
In value terms, Saudi Arabia ($193K) also remains the largest salicylic acid supplier in GCC.
From 2013 to 2024, the average annual growth rate of value in Saudi Arabia stood at -14.9%.
Export Prices By Country
The export price in GCC stood at $633 per ton in 2024, dropping by -44.6% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2021 when the export price increased by 40%. The level of export peaked at $3,972 per ton in 2013; however, from 2014 to 2024, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Saudi Arabia.
From 2013 to 2024, the rate of growth in terms of prices for Saudi Arabia amounted to -15.8% per year.
