24 September, 2019
RALEIGH, North Carolina, September 24, 2019 - The global market for ibuprofen is currently estimated to be 44,347 MT and is projected to grow at a CAGR of 2 percent, according to Beroe Inc, a procurement intelligence firm. Ibuprofen prices have increased by 22 percent from 2017, due to increase in raw material costs, with the prices for Isobutyl Benzene (IBB) increasing by 11 percent.
The top 6 players in the market, namely, Shasun, Shandong Xinhua, Granules Biocause, IOLCP, BASF, and SI Group hold almost 80-85 percent of the Ibuprofen supply in the market. Shasun is the market leader with approximately 16 percent of the global production, however, IOLCP has the highest installed capacity. Meanwhile, Granules Biocause has 100 percent utilization of Ibuprofen production capacity, followed by Shasun with 96 percent.
Beroe, which is based in North Carolina, further stated that procurement experts can access this report - on its market intelligence platform Beroe LiVE: https://live.beroeinc.com/
The most common forms of Ibuprofen are granules, salt, powder, and amines. The top consumers of Ibuprofen include Pfizer, BASF, Johnson & Johnson, Bayer, Pharmed, Dr. Reddy's, Kentam and Ortho McNeil Pharmaceuticals, with the majority of Ibuprofen consumers operating at a global level, or based in the U.S., or in India.
IBB is the major raw material for manufacturing Ibuprofen and accounts for around 25 percent of the raw material cost, with sodium dichromate accounting for 17 percent of costs and aluminum chloride accounting for 16 percent. Major players in the IBB market are Vinati Organics, IOL Chemicals and Pharmaceuticals, and SI Group.
The research methodology adopted for the report included:
Major end-use of isobutyl benzene is Ibuprofen and the other industry in which it is used is perfumery, however, perfumery does not contribute to significant demand for it. Apart from sodium metal, toluene, propylene, potassium carbonate and methanol are the other raw materials for isobutyl benzene.
The report also includes:
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