The Aminophenol Market is Predict to reach USD 2.2 Billion by 2031, at a CAGR of 4.1%

08-Oct-2024 | Report Format: Electronic (PDF)

Aminophenol Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Aminophenol Market size is expected to reach $2.2 billion by 2031, rising at a market growth of 4.1% CAGR during the forecast period. In the year 2023, the market attained a volume of 346,946.84 Tonnes experiencing a growth of 20.9% (2020-2023).

A growing awareness about environmental benefits is driving the adoption of aminophenols in various industries. Unlike other chemicals, aminophenols are considered environmentally friendly, significantly contributing to their increasing use. This shift is driven by regulatory pressures and consumer preferences for products produced using environmentally friendly processes and materials.

Aminophenol Market Size - By Region

The Pharmaceutical segment is exhibiting a CAGR of 3.8 % during the forecast period. As the global population ages, chronic and acute illnesses also rise, increasing demand for pharmaceuticals. Aminophenols are crucial in producing drugs for treating various conditions, including pain, fever, infections, and cardiovascular diseases.

The Synthesis Precursors segment captured the maximum revenue in the Global Aminophenol Market by Application in 2023, thereby, achieving a market value of $1.1 billion by 2031. The demand for aminophenols as synthesis precursors is driven by their versatile chemical properties and importance in producing various compounds across different industries. Aminophenols exhibit unique chemical reactivity, making them valuable precursors for synthesizing various compounds.

The P-aminophenol segment is growing at a CAGR of 3.8 % during the forecast period. It is an intermediate in synthesizing pharmaceuticals, especially in producing paracetamol (acetaminophen). Its primary amine and hydroxyl groups make it a versatile compound in various chemical reactions.

Full Report: https://www.kbvresearch.com/aminophenol-market/

The Asia Pacific region dominated the Global Aminophenol Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $982.7 Million by 2031. The North America region is anticipated to grow at a CAGR of 3.3% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 3.6% during (2024 - 2031).