Global PAP and Paracetamol Market is Driven by Rise in Need for Pain Management
In the last few years, the global PAP and paracetamol market has been experiencing a remarkable rise owing to the increased prevalence of various medical conditions that require solutions to manage pain. Almost 80% of the para-aminophenol (PAP) that is manufactured across the globe is used for the production of paracetamol, which is likely to offer substantial opportunities of growth for the global PAP and paracetamol market. Paracetamol is also known as acetaminophen.
Adverse Effects of Paracetamol Overdose Impedes Growth
Apart from its application in the making of paracetamol, PAP find use in many other fields like in the making of dyes, other chemicals, rubber antioxidants, and anti-ager. Such varied uses are expected to add considerable impetus to the global PAP and paracetamol market.
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However, there are many side effects of wide use of paracetamol. Rampant intake of paracetamol leads to augmented chances of strokes and heart attacks reportedly. Furthermore, statistics from many reports reveal that overdose of paracetamol is one of the leading reasons for liver failure all over the world.
Making of paracetamol without the addition of solvents is much emphasized upon these days as the use of solvents lead to severe adverse effect on the health of a person, thereby impeding the growth of the market during the forecast period. Recent awareness about over-consumption of analgesics among people is likely to hamper the expansion of the global PAP and paracetamol market during the assessment period.
The global PAP and paracetamol market is spread over the primary regions of the Middle East and Africa, Latin America, Europe, North America, and Asia Pacific. North America is likely to lead the market during the forecast period owing to increasing number of PAP manufacturers. Relentless attempts to make a shift to specialty chemical manufacturing from chemical manufacturing are supporting the growth of the market in the region. Analysts anticipate that the market would continue with its regional dominance in years to come.
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Developing Economies to Propel the Demand for PAP and Paracetamol Market
Globally, the increasing awareness of pain management solutions is resulted from using paracetamol. Paracetamol is a remarkable painkiller, thus making it the best solution for pain management on regular basis, and is the main factor that has augmented the use of paracetamol globally. Moreover, the wide applicability of para-aminophenol is expected to grow its market in the Asia Pacific that will enhance its production capabilities.
Despite, the huge opportunity for chemical producers, emerging economies mainly in the Asia Pacific provide affordable research and development and availability of raw material at a low cost. They also offer favorable infrastructure, low wages of work force, and increasing trade transaction that will boost the market for PAP and paracetamol.
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Increasing Awareness for Harmful Effects of Analgesics May Hinder the Growth of the Market
The market for PAP could find certain difficulties due to decreasing use of solvents in producing paracetamol may harshly affect the PAP manufacturing sector. Moreover, increasing awareness about the harmful effects on health with extensive usage of analgesics will turn into a great challenge for the progress of PAP and paracetamol market.
The huge emphasis is given to manufacture paracetamol without adding solvents because the use of solvents causes massive negative impact and slow down the demand for PAP in the manufacturing market. Thus, diminishing the growth for PAP to a certain extent. Moreover, high awareness among the large population of extreme consumption of analgesics is also projected to impede the market for PAP and paracetamol to succeed during the forecast period.
Mallinckrodt Plc, Angene International Ltd., Haihang Industry Co. Ltd., Parchem Fine & Specialty Chemicals, Granules India, Jinan Haohua Industry Co. Ltd., and Kemcolour International are some of the prominent providers of PAP and paracetamol across the world.
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