Global Acetaminophen (Paracetamol) Market to Hit $999.4 Mn in 2020: Growth Analysis
Deerfield Beach, FL -- (SBWIRE) -- 07/14/2017 -- Zion Market 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.
In order to give the users of this report a comprehensive view on the acetaminophen market, we have included a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter's five forces model for the acetaminophen market has also been included. The study encompasses a market attractiveness analysis, wherein application segments are benchmarked based on their market size, growth rate and general attractiveness.
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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.
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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:
Application Segment Analysis: Pharmaceuticals, Dye industries, Chemical industries
Regional Segment Analysis: North America (US), Europe(Germany, France, UK), Asia Pacific(China, Japan, India), Latin America(Brazil), Middle East and Africa
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