MarketsandMarkets Report: Global Acetaminophen Market Size to Exceed USD 999.4 Million by 2020
Global acetaminophen market was valued at USD 801.3 million in 2014 and is expected to reach USD 999.4 million in 2020, growing at a CAGR of 3.8% between 2015 and 2020.
Zion Research has published a new report titled “Acetaminophen (Paracetamol) Market for Pharmaceuticals, Dye Industry and Chemical Industry — Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 — 2020” According to the report, global Acetaminophen Market was valued at around USD 801.3 million in 2014 and is expected to reach USD 999.4 million in 2020, growing at a CAGR of around 3.8% between 2015 and 2020. In terms of volume, the global acetaminophen market stood at above 149.3 kilo tons in 2014.
Acetaminophen is also known as paracetamol or APAP. It is a medicine used as a pain killer or pain relief. It is also used in case of fever treatment. Acetaminophen has weak anti-inflammatory properties and is used as a common analgesic, but may cause liver, blood cell, and kidney damage. Acetaminophen consists of a benzene ring core, substituted by one hydroxyl group and the nitrogen atom of an amide group. Para-aminophenol (PAP) is a final intermediate in the industrial combination of acetaminophen and is used in the manufacturing of products having various applications in different areas such as pharmaceuticals, dye industries and chemical industries.
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Key application markets for acetaminophen include pharmaceuticals, dye industry and chemical industry. Pharmaceutical was the largest application market for acetaminophen in 2014, which accounted for more than 86% share of global consumption in 2014. Rising need of medicines for a pain relief and increasing health awareness is major driving factor for pharmaceuticals market. Additionally, increasing applications of acetaminophen in dye industry and chemical industry is expected to have a positive impact on the market.
Acetaminophen (paracetamol) market is mainly driven by strong demand of acetaminophen from pharmaceutical industry. Increasing demand of acetaminophen as a medicine and increase in the availability of production facilities are anticipated to boost production acetaminophen. Increasing dominance of diseases and disorders such as swine flu, cold, fever and arthritis and therefore need for quick pain relief and rising demand for generic drugs are expanding the acetaminophen market. Increasing use of acetaminophen in chemical industry also helps to boost the demand of acetaminophen which simultaneously affects the acetaminophen market. Additionally, growth of dye industry is expected to surge demand for acetaminophen in the years to come. However, manufacturers are expected to face some challenges such as growing popularity of sustainable chemistry which hamper the growth of this industry.
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Demand for acetaminophen was the highest in North America, accounting for 40% of the market share in 2014. North America is followed by Europe and Asia Pacific. However, hazardous effects and risk of heart attack due to high consumption of acetaminophen may hold the growth of this industry. Latin America is anticipated to witness a heavy growth in the global acetaminophen market in the forecast period.
Acetaminophen manufacturers have a significant impact on the value chain through a higher degree of forward integration. These companies manufacture raw materials as well as the final product and use it in various applications. Key players operating in this market includes Angene International Limited, BOC Sciences, Granules India, Haihang Industry Co., Ltd., Jinan Haohua Industry Co., Ltd., Kemcolour International, Mallinckrodt plc, ORGANICA Feinchemie GmbH Wolfen, Parchem Fine & Specialty Chemicals, Wuxi Feipeng Imp. & Exp. (Group) Co., Limited and Zhejiang Hisun Chemical Co., Limited.
The report segments the global acetaminophen market into:
Global Acetaminophen Market: Application Segment Analysis
- Dye industries
- Chemical industries
Global Acetaminophen Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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