Salicylic acid is a keratolytic (peeling agent). Salicylic acid
causes shedding of the outer layer of skin.
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The word depilation has about four synonyms. The synonyms are
exfoliation, flaking, peeling, and shedding all relate to
depilation because they all relate with molting.
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Thin, paper-like shedding is absolutely normal. Loss of more
than that could be any of a variety of problems such as canker or
anthracnose.