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PAP and Paracetamol Market - Complete Study of Current Trends and Growth Drivers For 2022

Press Release   •   Oct 21, 2016 05:16 EDT

Paracetamol, also known as acetaminophen, para-acetylaminophenol, APAP or N-acetyl-p-aminophenol, is widely used as an analgesic and antipyretic in various pharmaceutical preparations. The paracetamol market is highly competitive, with the presence of several large and small players across the world. Paracetamol manufacturers are constantly striving to expand the indications of their branded drugs in order to widen the customer base. The number of patients suffering from pain is on a constant rise across the world. Increasing prevalence of diseases and disorders such as swine flu, cold, fever, and arthritis; need for quick pain relief, and rising demand for generic drugs are propelling the paracetamol market. In terms of volume, the global paracetamol market stood at 133,310.8 tonnes in 2013 and is projected to expand at a CAGR of 1.3% during the forecast period from 2014 to 2022.

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On the other hand, para-aminophenol (PAP) is an important intermediate used in the manufacture of various products such as pharmaceuticals, dyes, rubber, anti-ager, photo developer, and fine chemicals. Other uses of PAP include dyeing of hair, textiles, fur, and oil additives, and in the manufacture of azo and sulfur dyes. Importantly, it is widely used as a starting material for paracetamol synthesis. More than 80% of the PAP produced globally is used in the manufacture of paracetamol, which is the most common analgesic used across the world.

Factors driving the market, especially in emerging economies, include diversified manufacturing capacity to produce quality chemicals from world-class plants, vibrant downstream industries, competitive core industries, know-how to produce superior quality end-products, strong presence in the export market coupled with good R&D base, and quality human resources. The global PAP market is expected to reach USD 709.2 million by 2022.

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Geographically, the PAP and paracetamol market has been segmented into six regions: North America, Europe, Asia Pacific, Latin America, the Middle East, and Rest of the World (RoW). North America accounted for the largest share of the PAP and paracetamol market, in terms of volume in 2013. The market PAP and paracetamol in the region was valued at USD 394 million and USD 188.9 million, respectively, in 2013. Over-the-counter (OTC) label was the key factor driving demand for paracetamol in North America. Additionally, consumption of paracetamol in Asia Pacific is anticipated to increase at a faster rate of 3.5% during the forecast period from 2014 to 2022. Presence of large number of paracetamol and PAP manufacturers and rise in demand for analgesics containing paracetamol are expected to boost the growth of the paracetamol market, especially in Asia Pacific. PAP production in Asia Pacific is anticipated to increase at the fastest CAGR of 3.3% during the forecast period from 2014 to 2022.

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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 are the major companies operating in the global PAP and paracetamol market. By adopting collaboration strategies, the manufacturers are focusing on exports, R&D, upgrade of manufacturing facility, co-marketing alliances, contract manufacturing with companies having established markets.