What is Global P-Aminobenzoic Acid Market?
The Global P-Aminobenzoic Acid Market is a specialized and in-depth study of the chemical industry with a special focus on the global market trend analysis. P-Aminobenzoic Acid, also known as 4-aminobenzoic acid (PABA), is an organic compound that is primarily used in the synthesis of folic acid and several other pharmaceuticals. It is a white-grey crystalline substance that is slightly soluble in water. It is also used in the manufacture of some types of plastics and dyes. The market for P-Aminobenzoic Acid is growing due to its increasing use in various industries.
More Than 99%, 98-99% in the Global P-Aminobenzoic Acid Market:
The Global P-Aminobenzoic Acid Market is segmented based on purity into More Than 99% and 98-99%. The More Than 99% segment holds the majority share in the market due to its extensive use in pharmaceuticals and dyes. This high purity P-Aminobenzoic Acid is preferred for its superior quality and effectiveness. On the other hand, the 98-99% segment is also witnessing growth due to its cost-effectiveness and sufficient purity for various applications. The market dynamics are influenced by the production capacities of manufacturers, technological advancements, and the demand-supply scenario in the market.
Pharmaceutical Intermediates, Dye Intermediates, Others in the Global P-Aminobenzoic Acid Market:
The Global P-Aminobenzoic Acid Market finds its applications in various areas such as Pharmaceutical Intermediates, Dye Intermediates, and Others. In the pharmaceutical industry, it is used as an intermediate in the production of folic acid, diuretics, local anesthetics, and sulfa drugs. In the dye industry, it is used as an intermediate in the production of azo dyes. Other applications include its use in the manufacture of plastics, as a corrosion inhibitor, and in sunscreen products. The demand for P-Aminobenzoic Acid is increasing in these areas due to its beneficial properties and wide range of applications.
Global P-Aminobenzoic Acid Market Outlook:
The market outlook for the Global P-Aminobenzoic Acid Market is promising. As of 2022, the market was valued at US$ 8 million and is expected to reach US$ 9 million by 2029, growing at a CAGR of 2.0% during the forecast period 2023-2029. The market is highly concentrated with the top two manufacturers holding over 95% of the market share. Geographically, China is the largest market for P-Aminobenzoic Acid, accounting for about 90% of the market share, followed by Japan with a 10% market share. The market growth is driven by the increasing demand for P-Aminobenzoic Acid in various industries and the expansion of these industries in the Asia-Pacific region.
| Report Metric | Details |
| Report Name | P-Aminobenzoic Acid Market |
| Accounted market size in 2022 | US$ 8 in million |
| Forecasted market size in 2029 | US$ 9 million |
| CAGR | 2.0% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Changzhou Sunlight, Mitsuboshi Chemical |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
