February 21, 2023
By:EmpoweringCPO Insights Team

Methyl Salicylate

This report on Methyl Salicylate provides significant insights for the team responsible for managing and buying this category. Accordingly, it gives an overview of Methyl Salicylate, its segmentation, global outlook, cost components, production process, and competitive analysis by using Porter’s Five Forces, top vendors, and many additional insights on this category. The details by our team of experienced sourcing and procurement professionals support the procurement team to design their Procurement Strategy and benchmarking the current contract when compared with the marketplace conditions.

Abstract

  • Methyl salicylate also known as the oil of wintergreen is used as a pesticide, denaturant, external analgesic, fragrance ingredient, and flavoring agent in products such as chewing gum, baked goods, syrups, candy, beverages, ice cream, and tobacco products.
  • Methyl salicylate can be produced by esterifying salicylic acid with methanol. Commercial methyl salicylate is now synthesized, but in the past, it was commonly distilled from the twigs of Betula lenta (sweet birch) and Gaultheria procumbens (eastern teaberry or wintergreen).
  • The pharmaceutical and Food & Beverages Industry dominates the application segment for methyl salicylate and almost half of the revenue is generated by this segment.
  • Sodium Carbonate, Sulfuric Acid & Methanol prices have been rising since the first half of 2021, which reflects an uptrend for Methyl Salicylate.
  • Raw materials- Salicylic acid and methanol constitute almost ¾ of the total raw material required to produce Methyl Salicylate.
  • Commercial production of methyl salicylate involves esterification of the basic ingredients such as Salicylic Acid, Methanol, Sulfuric acid, Water & Sodium carbonate.
  • There are three main types of processes involved in the manufacturing of methyl salicylate 1). Synthesize Methyl Salicylate 2). Isolation and Purification of the Product 3). Determine the Density and Freezing Point of the Product.
  • From a global perspective, Novacyl is the world’s largest producer of Methyl Salicylate, which is owned by Sequin’s group.
  • At the company level, this report focuses on the revenue, capabilities or industry served and current employees for each manufacturer covered in this report.
  • The threat of substitutes for Methyl Salicylate is weak as the alternatives available in the market are very costly.

Table of Contents

Content Slide No.
Executive Summary 3
Background 4
Global Market Drivers for Methyl Salicylate 5
Methyl Salicylate – Demand and Market Trends 6
Cost Component for Methyl Salicylate 7 – 8
Production Process 9 – 10
Pricing & Supplier Capacity 11
Supplier Landscape 12 – 14
Competitive Analysis 15

If required, EmpoweringCPO can support with additional information and the next steps with executing projects like Methyl Salicylate.  Also, feel free to reach us for similar requirements regarding any other category as well. Moreover, we help organizations design procurement strategies by providing tools like Procurement Dashboards, Spend Analysis, Procurement Intelligence, and Procurement Consultancy.

EmpoweringCPO is a team of experienced sourcing and procurement professionals with hands on experience of having worked with many fortune 500 companies. The company was founded in 2011 and since then has executed multiple strategic sourcing projects and have achieved average savings of 10-12% so far. In addition to Strategic Sourcing their other offerings are Spend Analysis, Procurement Intelligence, Procurement Analytics, Best Cost Country Sourcing, Procurement Outsourcing, Built Operate Transfer, Supplier Diversity, Sustainable Procurement, Tail Spend Management, Item Master Optimization, Collective Buying, Compliance Tracking and Managed Procurement Services.

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Compliance management is very critical as otherwise the procurement organization may run into a scenario where there is a huge gap between realized savings and reported savings. Many procurement functions estimate large savings numbers when contracts are signed. They also invest significant time and effort in negotiating contracts for necessary goods and services, only to have a third or more of their purchasing dollars flow outside those deals. Some of the obvious fall-outs of non-compliance and maverick purchases are:

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