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Aspirin Market Monitoring Dashboard

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Aspirin Industry Benchmarks

Savings Achieved

(in %)

The average annual savings achieved in Aspirin category is 20.10%

Payment Terms

(in days)

The industry average payment terms in Aspirin category for the current quarter is 54.3 days

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Supplier Diversity

Targeted Savings

Risk Mitigation

Financial Risk



Geopolitical Risk

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Price per Unit Competitiveness

Specification Leanness

Minimum Order Quality

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    Aspirin Market Intelligence

    global market outlook

      • The global market size is around 28KT in 2020 and it is expected to grow with a CAGR of ~6%
      • The key suppliers for Aspirin are Novacyl, Shandong Xinhua Pharmaceutical, JQC (Huayin) Pharmaceutical, The Andhra Sugars, Cabarria and Yamamoto Chemical Industry
      • The global capacity is around 400,000 MT and the demand is around 28,000 MT, hence supply crunch is not expected for next few years
      • China, Spain, France, and Thailand contribute to 93 percent of the global production
      • The Innovator company of Aspirin and the current major producer of Aspirin is in Europe. Europe is mature, in terms of the supply market. There are two CEP holders and two DMF holders in Europe. The price of Aspirin from Europe is 20–25 percent higher than Asia
      • APAC has the highest number of suppliers of Aspirin with 50 percent of the supply market share.
        The suppliers in India and China are of both medium and large scale. APAC suppliers have two active CEP and four active DMF suppliers of Aspirin

    Aspirin market report transcript

    Aspirin Global Market Outlook:

    • The global market size is $2.21 billion in 2021, growing at a rate of 2.4 percent, due to increased demand from the pharmaceutical industry

    • Market is consolidated with a few major players holding around 70 percent of the market

    • Globally, suppliers have over 40,000 MT capacity, however, the demand is around 28, 000 MT, thus, there is no major supply crunch expected in the next few years

    • In response to an increase in demand for aspirin API during the COVID-19 pandemic, the suppliers are operating at a higher operating rate

    Global Aspirin Suppliers

    • Market is consolidated with few major players holding around 70 percent of the market

    • Globally, suppliers have over 40,000 MT capacity, however, the demand is around 28, 000 MT, thus, there is no supply crunch expected in the next few years

    • China, Spain, France, and Thailand contribute to 93 percent of the global production

    Aspirin Cost Structure

    Raw material is the major contributor in the cost of production of aspirin API. The fixed cost, i.e., the equipment and the facility cost, is the other major cost component in the manufacturing.

    Cost Drivers

    • The raw materials, i.e., salicylic acid, acetic anhydrite, acetic, and solvents, contribute to 60 percent of the overall cost. Salicylic acid, the key raw material, contributes to approx. 90 percent of the raw material cost

    • The equipment, facility cost, and the regulatory expenses are included in the fixed cost component. The fixed cost contributes to 23 percent of the overall manufacturing cost of aspirin

    • The labor cost contributes to 10 percent of the manufacturing expenses. This share would decrease in low-cost countries, like China, India, etc.

    Porter's Analysis on Aspirin

    Supplier Power

    • The market of Salicylic Acid used in the manufacture of Aspirin is fragmented with many players available in the market

    • Some of the key market players also have salicylic acid in their product portfolio

    • Salicylic Acid is majorly used in pharmaceutical manufacturing. The demand from other industries is minimal

    • Hence, the suppliers of Aspirin raw materials has lower power

    Barriers to New Entrants

    • Consolidated Market: The Aspirin API market is consolidated with the top three players, holding close to 70 percent of the market share

    • The top players have all the required regulatory certifications and an established consumer base

    • Capital investment and competition are the major barriers for the new entrants in the market

    Intensity of Rivalry

    • Consolidated Market: As the marker is consolidated, each of the regulated suppliers have significant marker share. Hence, there is no problem of price competition

    • Capacity Expansion: The established suppliers have been increasing their manufacturing capacities in response to the growing market demand

    Threat of Substitutes

    • Aspirin, being used for a wide range of indications, has lower risk of substitution, due to the low toxicity profile and established usage among the health care professionals

    • However, the novel molecules, being introduced in the market for cardio vascular indication, etc., could effect the market size

    Buyer Power

    • The buyer has medium power, since the market is consolidated with lower number of regulated suppliers and their high market share

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