CHICAGO, Oct. 28, 2022 /PRNewswire/ -- Aminophenol Market size is estimated to be USD 1.4 Billion in 2022 and projected to reach USD 1.7 Billion by 2027, at a CAGR of 4.0% during the forecast period according to a new report by MarketsandMarkets. The market for aminophenol has experienced significant growth, primarily due to the increase in demand of paracetamol and growth in demand from end-use industries such as pharmaceutical, chemical, and cosmetic. Moreover, the growing focus on precession medicine will drive the demand of aminophenol in the near future.
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The p-aminophenol segment is likely to hold a larger share of the aminophenol market during the forecast period.
Due to the increased demand for p-aminophenol in the manufacturing of paracetamol and other drugs, the aminophenol market for p-aminophenol is expected to have the largest share during the forecast period. P-Aminophenol or PAP is also known as 4-aminophenol or p-aminophenol. It is utilized as a developer, intermediate, raw material, and reagent with a wide range of applications in azo dyes, drugs (paracetamol), acid dyes, sulfur dyes, fur dyes, antioxidants, petroleum additives, etc. PAP is the key chemical required to produce paracetamol, an analgesic and antipyretic drug. China is the major producer of PAP. A large portion of Indi's demand for PAP is met through imports from China. The uncertainty in India-China relations would affect the supply and price of this material. India is one the major user of p-aminophenol and is the second-largest market for PAP products after China.
The pharmaceutical segment is likely to be the largest end-use industry in the aminophenol market during the forecast period.
In the pharmaceutical industry, p-aminophenol is used as a precursor in the manufacturing of paracetamol. In addition to paracetamol, it is a key element in the synthesis of active pharmaceutical ingredients (APIs), such as acebutolol, ambroxol, gefitinib, sorafenib, and many others. The rising population across the globe and rising awareness of pain management are the factors fuelling the growth of the aminophenol market in the pharmaceutical industry.
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The synthesis precursor segments were the largest application of aminophenol during the forecast period.
Synthesis precursors are mainly used in the pharmaceutical industry. The major use of aminophenols is in the synthesis of precursors. The derivative of aminophenols have important usage in the photographic and pharmaceutical industries. They are widely used as precursors in synthesizing more complicated molecules, especially those used in the staining and dye industry.
Rapid economic growth in China and India is expected to propel the Asia-Pacific aminophenol market in the coming years. Asia Pacific (APAC) is expected to be the fastest-growing market for aminophenol systems during the forecast period. The aminophenol market has enormous potential in the APAC region, and it is anticipated that the economy of the Asia Pacific countries, such as China and India, is growing rapidly. South Asian countries, such as Indonesia, Taiwan, and South Korea, are also witnessing fast growth. These economies present high growth opportunities for players in the aminophenol market. The primary driver behind their growth is the increasing population, increasing prosperity, and improving longevity.
A few of the key players in the aminophenol market are Wego Chemical Group (US), Parchem (US), CDH Fine Chemicals (India), Glentham Life Sciences Ltd (England), EMCO Dyetuff Pvt Ltd. (India), Loba Chemie (India), Taixing Yangzi Pharm Chemical CO., LTD. (China), Liaoning Shixing Pharmaceutical & Chemical CO., Ltd. (China), and Anhui Bayi Chemical Industry Co. Ltd. (China) among others.
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