Ethyl 4-Aminobenzoate Market - Forecast(2023 - 2028)

Ethyl 4-Aminobenzoate Market Overview

The Ethyl 4-Aminobenzoate Market size is estimated to grow at a CAGR of around 2.4% from 2022 to 2027. The ethyl 4-aminobenzoate, also referred as benzocaine, is an anesthetic that is used in the cough drops and pain relievers. It is soluble in ethanol, ethyl ether, dilute acids and others. The ethyl 4-aminobenzoate has high demand as in pharmaceuticals owing to its medicinal properties and in treatment of various diseases. The high demand of benzocaine or the ethyl 4-aminobenzoate as a pain relief drug component is creating a drive in the Ethyl 4-Aminobenzoate Market. Furthermore, the increasing application of benzocaine in topical anesthetics, dental pain relief and others in pharmaceuticals and cosmetics will offer major growth in the market during the forecast period.

COVID-19 Impact

The global ethyl 4-aminobenzoate industry was majorly impacted by the slowdown due to covid-19 outbreak. The pandemic created major disturbance in production activities, logistics disruptions, and huge gap between the demand and supply chain. The ethyl 4-aminobenzoate has major applications in the pharmaceutical sector. The pharmaceutical or the healthcare industry was majorly affected by the covid-19 disruptions. The raw material supply, manufacturing, and delivery activities were hindered due to restrictions on movement, labor shortages, and others. The demand for drugs, medical supplies, and others was high; however the supply chain was not fulfilled owing to disruptions in manufacturing activities in the outbreak. According to United States Census Bureau, the revenue of offices of physician and Medical and Diagnostic Laboratories saw a fall of 14.9% and 10.9% respectively in the second quarter of 2020. The decline in growth for the pharmaceutical or healthcare led to major fall in the application of ethyl 4-aminobenzoate in the pharmaceutical sector. Thus, the ethyl 4-aminobenzoate saw a major slowdown in the initial pandemic phase. However, with the recovering healthcare and production activities, the demand for ethyl 4-aminobenzoate will grow post-pandemic.

Report Coverage

The report: “Ethyl 4-Aminobenzoate Market Report– Forecast (2022-2027)” by IndustryARC covers an in-depth analysis of the following segments of the Ethyl 4-Aminobenzoate industry.

Key Takeaways

Figure: North America Ethyl 4-Aminobenzoate Market Revenue, 2021-2027 (US$ Billions)

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Ethyl 4-Aminobenzoate Market Segment Analysis – By Application

By application, the anesthetic ointment segment accounted for the largest share in the Ethyl 4-Aminobenzoate Market and is expected to grow by around 1.9% during the forecast period. The growth of ethyl 4-aminobenzoate or benzocaine for application in anesthetics ointments is rising due to its major use for pain relief and treatment of toothache, sore throats, anal fissure, oral ulcers, and others. According to the India Brand Equity Foundation (IBEF), the Indian Economic Survey 2021 states that the domestic pharmaceutical sector in India is estimated to reach USD 65 billion by 2024 and expanding to reach USD 120-130 billion by 2030. Moreover, the increasing cases of oral ulcers, skin infections and disorders, toothaches, wounds, and others is driving the growth of ethyl 4-aminobenzoate as it is used as a major component in anesthetics in the pharmaceutical sector. Thus, with high demand of ethyl 4-aminobenzoate in drug and medications in pharmaceuticals, the Ethyl 4-Aminobenzoate Market will grow during the forecast period. 

Ethyl 4-Aminobenzoate Market Segment Analysis – By End-Use Industry

By end-use industry, the pharmaceuticals segment held the largest Ethyl 4-Aminobenzoate Market share and is expected to grow at a CAGR of over 2.1% during the forecast period. The ethyl 4-aminobenzoate ha major application in the anesthetics, topical pain reliever, treatment of ulcers, skin disorder, dental irritation, and others. The high demand of ethyl 4-aminobenzoate as a local anesthesia drugs in the pharmaceutical sector for surgeries, wounds, and others is propelling the growth in the market. It offers pain relieving and numbing features, thereby boosting its application in the anesthetic drugs, otic pain medications, and orthodontic pain medication. According to the Ministry of Health, Labor and Welfare (MHLW)'s annual pharmaceutical production statistics, the Japanese market for the prescription and nonprescription pharmaceuticals was USD 107 billion in 2020. The growth in the pharmaceutical drugs and medication and surgical technologies is offering growth for ethyl 4-aminobenzoate in the market. Thus, with high demand of ethyl 4-aminobenzoate for anesthetic and pain relief medications in pharmaceuticals, the global industry will grow during the forecast period. 

Ethyl 4-Aminobenzoate Market Segment Analysis – By Geography

By geography, the North America segment is the fastest-growing region in the Ethyl 4-Aminobenzoate Market and is projected to grow by over 2.6% during the forecast period. The growth of ethyl 4-aminobenzoate in this region is influenced by the rising demand of anesthetic for pain relief and surgical procedures. The growth in healthcare sector, advancement in the anesthesia technology, and rising cases of ulcers, dental issues, and geriatric population with chronic complications are factors influencing the demand for ethyl 4-aminobenzoate in this region. According to the European Federation of Pharmaceutical Industries and Association (EFPIA), the North America held 49% of the world pharmaceutical sale in 2020. Furthermore, the usage of ethyl 4-aminobanzoate for treatment mucosal surfaces, haemorrhoids narcotic pain, vaginal infection, and others is boosting the growth is propelling the demand in the market. The development in pharmaceutical medications, medical infrastructure, and rising chronic dental and surgical cases is influencing the growth in this region. Thus, with flourishing pharmaceutical and cosmetics sector in North America, the global ethyl 4-aminobenzoate industry will grow during the forecast period.

Ethyl 4-Aminobenzoate Market Drivers

Rising demand of the anesthetic drugs

The ethyl 4-aminobenzoate, also known as benzocaine and prepared from ethanol and PABA is a major local anesthesia. The growth of ethyl 4-aminobenzoate is influenced by its rising demand in surgeries and pain relief. It has growing application in pharyngeal and oral mucous membranes such as sore throat, oral ulcers, denture irritation, toothache, and others. Moreover, the growth in surgical procedures and demand of the anesthesia drug or medication is driving the Ethyl 4-Aminobenzoate Market owing to its pain relieving and numbing effects as a local anesthetic. For instance, the Pharmaceuticals Research and Manufacturers of America invested around USD 83 billion in 2019, for establishing biopharmaceutical sector in the U.S. Thus, the growing demand of anesthetic drugs and topical pain relieving medications is offering major growth opportunities in the market.

Increasing application in pharmaceutical sector

The ethyl 4-aminobenzoate has rising demand in the pharmaceutical sector owing to its growing usage in anesthetic drugs, topical pain relief medications, and others. The ethyl 4-aminobezoate or the benzocaine helps in blocking the nerve signals in the body which are responsible for sensing the pain. The topical ethyl 4-aminobenzoate reduces pain and discomfort caused due to sunburn, sore throat, rectal irritation, hemorrhoids, and others. The application of ethyl 4-aminobenzoate in pharmaceutical as a topical ointment, otic pain medication, drug for numbing and pain relief is driving the global ethyl 4-aminobenzoate industry. According to the Department of Pharmaceuticals under the Ministry of Chemicals & Fertilizers and Government of India, the annual report 2020-2021 stated that the India is the 3rd largest market for the API globally with 8% share in the global active pharmaceutical ingredient (API) industry. Thus, the growth and development in pharmaceutical is leading to major demand and growth opportunities in the market.

Ethyl 4-Aminobenzoate Market Challenges

Severe Health impact and restrictions on use of benzocaine

The ethyl 4-aminobenzote is an air sensitive and light sensitive and gets unstable in contact of strong oxidants, heat, and dust. The toxicity and severe health effects are creating a major challenge on the Ethyl 4-Aminobenzoate Market. The ethyl 4-aminobenzoate creates eye irritation, skin irritation, vomiting, respiratory tract complications, when spilled and not handled carefully. Furthermore, the FDA restricts the use of benzocaine for the treatment of children younger than two years. The restrictions and regulations against the use of benzocaine or ethyl 4-aminobenzoate creates a major growth hindrance on the market, thereby leading to slowdown in the industry.

Global Ethyl 4-Aminobenzoate Industry Outlook

The global ethyl 4-aminobenzoate top 10 companies include:

1. TCI Chemicals Pvt. Ltd
2. ACETO Corporation
3. Jinzhou Jiutai Pharmaceutical Co. Ltd
4. Sunlight Pharmaceutical Raw Material Co. Ltd
5. Mahendra Chemicals
6. Alfa Aesar
7. Penta International Corporation
8. Changgzhou Yongfu Chemical Co. Ltd.
9. Energy Chemical
10. Eashu Pharmaceutical

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