Barbituric Acid Market is Estimated to Reach value of Approximately over US$ 31.04 Million by the end of 2032
The world barbituric acid market is expected to reach around US$ 19.8 Mn by 2022. Furthermore, with increasing adoption of barbituric acid in industries like pharmaceutical, plastic, polymer, textile, etc., the total demand for barbituric acid is likely to grow at a constant CAGR of 4.6 % between 2022 and 2032 for a total of over US$ 31.04 Mn by 2032.
Barbituric acid is predominantly used for the production of barbiturate drugs. Barbituric acid is an organic compound characterized by six membered ring structure and belongs to the class of pyrimidine family. One of the barbiturate drug produced using barbituric acid is riboflavin which is used as vitamin B2 nutritional supplement.
Barbiturate drugs have sedative effect on the central nervous system and are being prescribed for anxiety. These drugs act as central nervous system depressants and are used for the treatment of insomnia, epilepsy amongst others. Apart from its use as pharmaceutical intermediate, barbituric acid is also used as dye intermediate and as nutritional supplement.
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Global Barbituric Acid Market Drivers
A number of factors has led to the rise in consumption of barbituric acid. Though barbituric acid itself is not pharmaceutically active, one of its major application is for the manufacture of barbiturate drugs.
The rising prevalence of insomnia and the growing share of geriatric population is expected to drive the demand for barbiturate drugs which in turn is anticipated to generate significant demand for barbituric acid as an important raw material for its production.
The changing lifestyle and eating habits has affected the sleeping patterns amongst individuals. A major share of population suffers from insomnia, anxiety and other sleeping disorders, therefore there has been a greater demand for drugs which are being prepared from barbituric acid over the coming years.
Moreover, the growing healthcare spending and rapidly developing healthcare infrastructure across regions is anticipated to generate noteworthy demand for barbituric acid over the forecast period.
Global Barbituric Acid Market Restraints
One of the major challenge faced by the global barbituric acid manufacturers are the stringent regulations pertaining to the manufacture of the barbiturates drugs and other pharmaceutical products.
The use of the barbiturate drugs are being strictly monitored by the Drug Abuse Prevention and Control Act. The side effects with the usage of such drugs and regulations for its dosage and content is a major factor which is likely to impact the global barbituric acid market.
Global Barbituric Acid Market Trends
Apart from its major use for the manufacture of barbiturate drugs, barbituric acid is also used as a nutritional supplement for vitamin B2 deficiency. Barbituric acid is also increasingly being used as dye intermediate used in textile industry. Manufacturers of barbituric acid are generating significant amount of revenue from the exports to the developing countries globally.
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Global Barbituric Acid Market Participants
Some of the market participants identified across the value chain of global Barbituric Acid market are:
- Hebei Chengxin Co., Ltd.
- Ralington Pharma
- Explicit chmicals pvt. ltd.
- Zhengzhou Lifeng Chemical Co.,Ltd.
- Danopharm Chemicals Pvt. Ltd.
- CDH Druh House (P) Ltd.
- Hunan HongQiang Chem Technology Development Co., Ltd.
- Sparchem
- Hem Corporation
- GFS Chemicals Inc
The research report Barbituric Acid presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
Barbituric Acid also contains projections using a suitable set of assumptions and methodologies. The research report Barbituric Acid provides analysis and information according to market segments such as geographies, application, and industry.
Key Segments Profiled in the Barbituric Acid Industry Survey
By Grade:
- Regular grade 98% (Industrial Grade)
- High Purity Grade 99% (Pharmaceutical Grade)
By Application:
- Pharmaceutical intermediate
- Dye intermediate
- Nutritional supplement
By End-Use Industry:
- Plastics
- Textiles
- Polymers
- Pharmaceutical
- Others
Global Barbituric Acid Market: Regional Outlook
In terms of regional perspective, the global barbituric acid market is anticipated to be dominated by Asia Pacific region. China is anticipated to hold noteworthy share the global barbituric acid market both in terms of production as well as consumption.
Regions such as North America and Europe are anticipated to witness rise in demand for barbituric acid owing to the increase in number of patients suffering from sleeping disorders and other diseases which are treated using barbiturate drugs. Japan, Middle East and Africa and Latin America are anticipated to hold relatively smaller share in volumes but are projected to witness robust growth in the forthcoming years.
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