Barbituric Acid Market to Grow at Steady 4.6% CAGR, Reaching Over USD 31.04 Million by 2032

Barbituric Acid Market Value
Barbituric Acid Market Value

 

The global barbituric acid market is poised for significant growth, with an anticipated size of approximately USD 19.8 million in 2022. The increasing adoption of barbituric acid in diverse industries, including pharmaceuticals, plastics, polymers, and textiles, is expected to drive a steady compound annual growth rate (CAGR) of 4.6% from 2022 to 2032. Projections suggest that the overall demand for barbituric acid will reach over USD 31.04 million by 2032, reflecting the compound’s expanding role across various sectors.

Barbituric acid comes across as an organic compound that could be categorized as one of the pyrimidines. It is used to produce plastics, pharmaceuticals (barbiturates), textiles, and polymers.

Barbituric Acid is used for manufacturing barbiturate drugs. Research states that these drugs do end up having a sedative effect on central nervous system. As such, it helps those contracting sleeping disorders.

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Also, seizures are driving utilization of barbiturate drugs like anticonvulsants, hypnotics, anesthetics, sedatives, and sleeping pills containing barbituric acid. It is also used for vitamin B2’s (riboflavin’s) and minoxidil’s laboratory synthesis. This is another factor driving the barbituric acid market in the near future.

At the same time, the fact that there are stern regulations in place regarding production of barbiturates drugs can’t be ignored. This factor is expected to restrain the barbituric acid market in the years to come. Plus, there are side-effects; which the Drug Abuse Prevention and Control monitors at regular intervals.

Key Takeaways from the Barbituric Acid Market

  • North America holds the largest market share with barbituric acid being increasingly adopted by the pharmaceuticals vertical along with increasing incidences of ailments like sleep disorders. This holds true for both – the US and Canada. Research states that barbituric acid acts as a remedy to insomnia. The American Sleep Apnea Association states that chronic insomnia does affect close to 10% of the Americans and the number is expected to rise even in the forecast period.
  • The Asia-Pacific is expected to witness growth at a faster pace in the barbituric acid market due to higher production as well as consumption of baribituric acid along with expansion of pharmaceutical and plastics verticals.

Competitive Landscape

The key participants in barbituric acid market include Ralington Pharma, Danopharm Chemicals Pvt. Ltd., Hebei Chengxin Co., Ltd., Sparchem, Hem Corporation, GFS Chemicals Inc., Hunan HoongQiang Chem technology Development Co., Ltd., Explicit Chemicals Pvt. Ltd., Zhengzhou Lifeng Chemical Co., Ltd., and likewise. They are into organic as well as inorganic modes of expansion to strengthen their foothold herein.

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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

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Nandini Singh Sawlani  

Future Market Insights Inc.
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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:       

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedInTwitterBlogs | YouTube

About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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