Paracetamol, also called acetaminophen, is a very popular antipyretic and pain reliever, commonly administered alone or in combination with other pain relievers. Para-aminophenol (PAP) is a crucial intermediate in the manufacture of paracetamol and also finds several applications across industries such as textile, chemicals, dye, pharmaceuticals, etc. As the prevalence of chronic pain and a number of chronic diseases continues to rise on the global front, the demand for pain relief medications based on paracetamol will increase in response.
Browse the full Report of Global PAP and Paracetamol Market: http://www.mrrse.com/pap-paracetamol-market
The high demand for paracetamol has a direct impact on the global demand for PAP, since over 80% of the globally produced PAP is used in the manufacturing of paracetamol. Other uses of PAP, such as its application in the production of azo and sulfur dyes, dyeing of hair, fur, etc. also have a measurable impact on the development of the global PAP and paracetamol market.
Rising Prevalence of Chronic Illnesses Drive Market’s Growth
A recent market research report published by Transparency Market Research states that the global PAP and paracetamol market is being driven by the rising prevalence of diseases such as arthritis, swine flu, cold and fever, and a continuous increase in the number of people suffering from chronic pain and a variety of chronic illnesses. For the treatment of chronic pain and chronic illnesses, the demand for quick pain relief medicines containing paracetamol has significantly increased on a global front. In 2013, the global markets for PAP and paracetamol had a valuation of US$0.4 bn and US$0.8 bn, respectively. By 2022, these markets are expected to reach US$0.7 bn and US$1.0 bn, respectively.
North America Leads the Global Market
Of the key regional markets for PAP and paracetamol, North America accounted for the largest share in the global market in 2013 in terms of volume. In this region, the PAP and paracetamol market had a valuation of US$394 mn and US$ 188.9 mn, respectively, in 2013. The high volume of sale of over-the-counter labels was the key factor that has led to the high growth of the PAP and paracetamol in the region.
The consumption of PAP and paracetamol in Asia Pacific is expected to increase at a 3.5% CAGR over the period between 2014 and 2022. The presence of a large number of manufacturers of PAP and paracetamol in Asia Pacific and the heightened demand for paracetamol-based analgesics as an alternative to aspirin owing to the comparatively lesser side effects of the former are the key factors that will drive the market for PAP and paracetamol in Asia Pacific. The production of PAP is also expected to see growth at a healthy 3.3% CAGR in Asia Pacific over the period between 2014 and 2022.
Market Features High Competitiveness
The global PAP and paracetamol market is highly competitive owing to the presence of a large number of small- and larger-sized vendors. To survive amid the severe competitive environment, companies are adopting collaboration strategies, upgrading manufacturing facilities, increasing investments for R&D activities, and accepting contract manufacturing projects, among other business development strategies.
Browse the full Press Release of Global PAP and Paracetamol Market: http://www.mrrse.com/pap-paracetamol-industry
Some of the key companies operating in the market are Zhejiang Hisun Chemical Co., Limited, BOC Sciences, Angene International Limited, ORGANICA Feinchemie GmbH Wolfen, Jinan Haohua Industry Co., Ltd., Haihang Industry Co., Ltd., Granules India, Parchem Fine & Specialty Chemicals, Kemcolour International, Wuxi Feipeng Imp. & Exp. (Group) Co., and Mallinckrodt plc,