Anthranilic Acid Market Size, Share, Growth, and Industry Analysis, By Type (Pharmaceutical Grade and Industrial Grade), By Application (Dye, Pharmaceutical, and Others), and by Regional Insights and Forecast to 2031

Updated On: 22 April 2024

Anthranilic Acid Market REPORT OVERVIEW

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The global anthranilic acid market size was USD 125 million in 2020 and the market is projected to touch USD 139.7 million by 2027, exhibiting a CAGR of 1.6% during the forecast period.

Anthranilic acid, a white or yellowish solid powder, is an aromatic acid with the formula C6H4(NH2)(CO2H). Commonly known as 2-aminobenzoic acid or o-amino-benzoic acid, it serves as a crucial intermediary in various industries such as dye manufacturing and the medical sector. Its applications extend to both the dye and medical industries which make it a versatile compound in the synthesis of diverse products.

The market for anthranilic acid is anticipated to experience significant growth with various key driving factors during this forecast period. The demand for anthranilic acid, a versatile aromatic compound is accelerating as it plays a pivotal role in the dye and pigment industry, which contributes to the vibrant colour spectrum in textiles. Also, its significance extends to pharmaceuticals, where it is utilized in drug synthesis, aligning with the expanding healthcare sector. Additionally, the compound finds use in fragrance and perfume manufacturing which promotes the growing demand for scented products. As well as research and development efforts continue to explore new applications and economic factors, whereas regulatory considerations, and evolving consumer preferences collectively influence the dynamic landscape of the anthranilic acid market.

COVID-19 Impact: Financial Uncertainties and Market Volatility Hindered Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels. The negative impact of the pandemic due to lockdown restrictions and industrial closure curbed the chemical industry with market volatility and fluctuating pricing. Also, uncertainties related to the duration and severity of the pandemic influenced market dynamics. Consequently, the market experienced a downturn in demand and revenue during the pandemic. While the industry may eventually recover as the situation improves, the immediate impact of COVID-19 was predominantly negative for the global market.

LATEST TRENDS

"Continuous Research in Pharmaceutical Industry to Expand Market scope"

The pharmaceutical industry is continually sprouting, with increased research and development activities. Anthranilic acid, as a key intermediate in pharmaceutical synthesis, sees a surge in demand driven by ongoing drug development efforts and the search for new therapeutic compounds. Apart from this, advances in technology and chemical synthesis techniques are also projected to influence the production of anthranilic acid which leads to improved processes, increased efficiency, and potentially cost reductions. As a result, these trends and developments are likely to create new opportunities for the chemical market.

Anthranilic Acid Market SEGMENTATION

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• By Type

Based on type the global market can be categorized into Pharmaceutical Grade and Industrial Grade.

Pharmaceutical Grade Anthranilic Acid: Pharmaceutical grade anthranilic acid refers to a high-purity form of the compound specifically manufactured to meet stringent quality and purity standards required for pharmaceutical applications. This grade is essential for the synthesis of pharmaceuticals and drugs, where the chemical's purity is critical to ensure the safety and efficacy of the final products. 

Industrial Grade Anthranilic Acid: Industrial grade anthranilic acid is produced with a focus on meeting the requirements of industrial applications beyond pharmaceuticals. While it may not be as high-purity as the pharmaceutical grade, it still meets the necessary specifications for use in various industrial processes. Industrial-grade anthranilic acid is often utilized in applications such as the production of dyes, pigments, perfumes, and other industrial chemicals.

• By Application

Based on application the global market can be categorized into Dye, Pharmaceutical, and Others.

These application categories illustrate the diverse utility of anthranilic acid across industries. While its significance in dye and pharmaceutical applications is well-established, its use in other areas showcases the chemical's adaptability and contribution to various manufacturing processes, making it a valuable compound in the chemical industry.

DRIVING FACTORS

"Escalating Demand from Dye and Pigment Industry Aid the Growth of the Market "

The key driving factor of the anthranilic acid market growth is the rising demand for the dye and pigment industry. Anthranilic acid is a crucial intermediate in the production of azo dyes, which are widely used in the textile and other industries. Thus, the demand for vibrant and diverse colour options in textiles and other products is expected to drive market growth.

"Growing Use of Anthranilic Acid in Pharmaceutical Industry to Raise Market Demand"

Additionally, the increasing use of anthranilic acid in the synthesis of various pharmaceuticals is also likely to boost the demand for this chemical. Anthranilic acid serves as a key building block in the production of certain pharmaceutical compounds making it an essential intermediate in pharmaceutical synthesis. As a result, the growth of the pharmaceutical industry, influenced by elevating healthcare needs and ongoing advancements in drug development, is anticipated to drive the demand for anthranilic acid in the market.

RESTRAINING FACTOR

"Environmental and Regulatory Challenges Can Thwart Market Potential"

Although the market is evolving, some factors such as environmental and regulatory challenges can restrain its growth. Increased environmental awareness and stringent regulations regarding the use and production of certain chemicals can pose obstructions for anthranilic acid manufacturers. Compliance with environmental standards may necessitate changes in production processes which may slow down the market progress.

Anthranilic Acid Market REGIONAL INSIGHTS

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"Asia Pacific Leads the Market with the Largest Manufacturing Industries in Developing Countries"

The Asia Pacific region is likely to be the prominent market with the largest anthranilic acid market shares in the global marketplace. The factors behind the region’s leading position are, its largest manufacturing industry, particularly in countries China & India. Also, rapid industrialization, economic growth, and a large and growing population provide a robust foundation for increased demand for anthranilic acid in diverse industries. Proximity to raw material sources, favorable government policies, and strategic importance in the global supply chain further enhance the region's competitiveness. As a major contributor to global trade, the Asia Pacific region actively engages in exporting chemicals, including anthranilic acid, to various markets.

KEY INDUSTRY PLAYERS

"Key Players Heavily Invest in R&D to Expand Geographical Outreach"

Key companies invest significantly in research and development to discover new applications and improve production processes that foster innovation in anthranilic acid usage. Market expansion through geographical outreach, product portfolio diversification, and strategic partnerships is common among the players which allows them to tap into emerging markets and broaden their customer base. Adherence to regulatory standards, efficiency improvements in production, customer relationship management, and global market presence are key strategies employed to maintain competitiveness and stimulate overall market growth. Additionally, marketing and branding efforts play a crucial role in creating awareness about anthranilic acid applications, ensuring these companies remain influential contributors to the growth of the anthranilic acid market.

List of Market Players Profiled

• Xiangli Chemical (China)
• New Sunlion Chemical (China)
• Shandong Wochi Chemicals (China)
• Shandong Taihong New Material Technology (China)
• Dongying Xinfeng Chemical (China)
• Shandong Co-Strength Chemicals (China)
• Dongying Kexin Chemical (China)

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.