By 2022, the size of the worldwide barbituric acid market is projected to be approximately US$ 19.8 million. Furthermore, due to the increasing use of barbituric acid in many industries, including medicines, plastics, polymers, textiles, etc., the global demand for the substance is anticipated to rise at a stable 4.6% CAGR from 2022 to 2032, reaching a total of more than US$ 31.04 million by that year.
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.
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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.
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.
Future Market Insights has etched these findings with future prospects in its latest market study entitled ‘Barbituric Acid Market’. It has its team of analysts and consultants to deploy a 360-degree approach in its primary, secondary, and tertiary modes of research.
“With increase in rates of anxiety and sleeping disorders, the global barbituric acid market is expected to grow on an exorbitant note in the forecast period”, says an analyst from Future Market Insights.
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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 the barbituric acid market include
- Ralington Pharma
- Zhengzhou Lifeng Chemical Co., Ltd.
- Explicit chemicals pvt. Ltd.
- Hebei Chengxin Co., Ltd.
- Danopharm Chemicals Pvt. Ltd.
- CDH Druh House (P) Ltd.
- Sparchem
- Hunan HongQiang Chem Technology Development Co., Ltd.
- GFS Chemicals Inc
- Hem Corporation
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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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