Acetaminophen Price Trend and Forecast

Regional Market Overview

Get the latest insights on price movement and trend analysis of Acetaminophen in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Acetaminophen (Paracetamol) Price Trend for the Q1 of 2024


In the Indian market, acetaminophen (paracetamol) prices registered opposing winds during the last quarter of 2023 due to lower prices of raw materials like para-aminophenol and phenol, impacting production costs. Reduced inquiries from downstream industries and year-end destocking also contributed to price reductions. However, the trend was reversed in Q1 of 2024 as many producers of acetaminophen (paracetamol), such as Granules India, reported a rise in their profit margins.

Acetaminophen Price Chart

Acetaminophen Price Trends

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This spike in the pricing trajectory, although it could not be attributed to the rebound of the acetaminophen (paracetamol) market, raises hopes for an optimistic trend among traders in the next quarters. Additionally, in the late phase of the first quarter, the National Pharmaceutical Pricing Authority (NPPA) announced a 0.00551% increase in the Maximum Retail Price of essential medicines, including acetaminophen (paracetamol), effective from April 1, 2024.

This adjustment is based on the change in the wholesale price index for 2023 compared to 2022. Notably, this hike will impact over 800 drugs, including acetaminophen (paracetamol), azithromycin, vitamins, and steroids. Additionally, the NPPA further revised prices for 923 scheduled formulations, including acetaminophen (paracetamol).


The European acetaminophen (paracetamol) market was not untouched by global volatility. During the first quarter of 2024, the market bore the consequences of changing pricing dynamics, with the US adopting a more dynamic approach and the Asian traders raising their price quotations of generic drugs in the next quarter. Additionally, the loss of importing volumes from these nations further pressurized the inventories amid substantial demand for the commodity.

Domestic production, on the other hand, faced the challenge of rising costs of feedstock materials and crude oil. The persistent geopolitical tensions emerging from the tensions in the Middle East, consistent attacks on maritime shipments by Houthi communities, and rising sanctions on Russian imports significantly altered the pricing trajectory of acetaminophen (paracetamol) during Q1 of 2024.

North America

The generic drug shortages in the United States stemmed partly from low prices and price capping by overseas industries, posing challenges for both healthcare and national security. Throughout the quarter, the manufacturers focused on mitigating these shortages, including proposals to increase domestic drug production as they were challenged by imports of overseas produce, predominantly from India and the EU, escalating the competitive atmosphere of the market and raising concerns about dependency on foreign suppliers. However, domestic production may not be a straightforward solution due to higher costs and environmental challenges. This shortage crisis requires significant investments and changes in government policies.

Analyst Insight

According to Procurement Resource, the price trend of Acetaminophen (Paracetamol) is expected to surge in the forthcoming quarter, particularly in Asian countries, as announced by NPPA. In the rest of the globe, the trade disruptions, inflationary pressure, and the rising cost of feedstock chemicals are estimated to raise the total production cost of acetaminophen (paracetamol).

Acetaminophen Price Trend for the October - December of 2023


In the Asian, particularly Indian markets, the government put a halt to the exponentially rising prices of Acetaminophen. In the last quarter, the pharmaceutical industries were under the pressure of a double-digit percentage rise in medical inflation and thus were prompted to increase the price quotations of medicines such as Acetaminophen.

However, in order to keep the prices relevant to all consumers, the government stopped the escalation in the cost of 33 fundamental medicines, including Acetaminophen, which led to a linear downfall in its price graph.


The EU Commission has fined pharma giants over price fixing allegations in the fourth quarter of 2023. As the interest rates charged by the banking sector rose on account of stabilizing the European economy, the lending activities of the pharmaceutical industries declined by a great margin.

Thus, as a result, the industries shifted towards the age-old technique of raising the cost of products, Acetaminophen, in order to sustain their profit margins. However, the initiatives of the government forced the manufacturers to lower their market prices and thus led to fluctuations in the Acetaminophen price graph.

North America

Similar to what was observed in the Asian and European countries, the US government also announced several measures to keep Acetaminophen prices in check. These acts enabled the producers to raise their quotations only in accordance with the inflationary rates.

The giant pharmaceutical players, however, opposed these initiatives of the government and the legal battle between the government and pharma companies led to significant oscillations in the Acetaminophen price trend. Further, the delayed shipments of raw materials due to drought in the Panama Canal raised the cost of production and destabilized the entire pharmaceutical industry in the last quarter of 2023.

Analyst Insight

According to Procurement Resource, the price trend of Acetaminophen are expected to rise as the inclining cost of raw materials and fluctuations in the manufacturing rates will most likely deplete the existing inventories.

Acetaminophen Price Trend for the July-September of 2023


A remarkable decline in the cost of raw materials of Acetaminophen was the major cause responsible for pushing the Acetaminophen price trend downwards. In addition to this, the notable inclination toward inflation and struggling market dynamics also played an important role in the southward journey of paracetamol prices. The Asian countries, throughout the third quarter, struggled with the in-house and overseas demand for Acetaminophen while the manufacturing accelerated, raising the inventory levels.


In the third quarter, the excessive supply of Acetaminophen proved fatal for the Acetaminophen price trend as they traced a downward trajectory. To deal with the rise in stockpiles of Acetaminophen, the manufacturers had to slow down their production rates, which in turn caused a halt in the industrial growth of the region. Further, a consistent decline in the prices of its feedstock materials additionally lowered the production costs, forcing the traders to reduce their price quotations and hampering the Acetaminophen price trend.

North America

After fluctuating in the initial months of the third quarter, the Acetaminophen price trend finally boarded a falling trajectory. As seen in the European countries, the Acetaminophen price trend in North America, too suffered from the rising inventory levels and poor consumption from the consumer sector. The customers and majority of downstream industries seemed hesitant in placing bulk orders as the doom of recession, surging inflation and hike in interest rates lowered their confidence in the Acetaminophen market.

Analyst Insight

According to Procurement Resource, the price trend of Acetaminophen are estimated to follow a strong downward movement as the demand for Acetaminophen will likely suffer from weak global economic conditions.

Acetaminophen Price Trend for the First Half of 2023


Acetaminophen (Paracetamol) prices in the Asian region mostly fluctuated toward the higher end in the first two quarters of 2023. Acetaminophen is one of the most consumed pharma products worldwide, with India and China being its biggest producer and exporters.

A consistent rise in market queries raised the prices as it is one of the few things that benefitted from the Covid-19 pandemic. And as the trade situations improved after the abolition of strict lockdown in China and supply chains were restored, trade activities around Acetaminophen also rose. Prices showed some fluctuations in Q2 because of a decline in feedstock phenol prices, but overall, the Acetaminophen market performed well, and sentiments were mostly positive throughout the said period.


The European Acetaminophen market stayed anchored throughout the discussed period. The rise in demand and ongoing economic inflation in the European markets inflated Acetaminophen prices. Quarter one witnessed positive market sentiments with rising Acetaminophen prices. As the quarters shifted, the market moved towards stability. Because inventory stocks rose and demands stayed consistent market developed stable supply–demand dynamics. These trend continued in Q2 2023 with steady market behavior.

North America

The North American Acetaminophen market behaved no differently than other global markets, as because of high demand, prices rose in the first half of Quarter 1. As the inventory stocks were consistently getting reduced because of good market offtakes, suppliers kept importing new products to refill stocks. By the onset of the second quarter market exhibited stability as the supply and demand equilibria had been established. The market was fairly stable throughout the second quarter.

Analyst Insight

According to the Procurement Resource, the Acetaminophen market is expected to continue exhibiting the same inclining behavior given the current stable pricing fundamentals.

Acetaminophen Price Trend for the Second Half of 2022

Asia Pacific

The value of Acetaminophen ( Paracetamol) in the Asian market declined in the third and fourth quarters of 2022. The major cause of this dip was the reduced demand for acetaminophen from the end-user pharmaceutical industries. With an increase in operational costs and a reduction in production costs, acetaminophen prices decreased more significantly in the fourth quarter. In this quarter, the raw materials also showcased a downward trajectory, impacting the overall price trend of Acetaminophen.


The European market seemed to be under the pressure of increasing inflation rates that declined the acetaminophen prices in the market. The low input costs and feedstock prices decreased the prices of the commodity. But to relief, the region also saw an ease in the shipments and transportation with a decrease in port congestion that helped to keep the prices somewhat stable in the fourth quarter.

North America

The demand for acetaminophen from the pharmaceutical industries remained low in the North American region. The region also had logistical challenges but with ease in lockdown restrictions and an increase in the momentum in the export and import activities, acetaminophen prices increased in the third quarter. The prices, however, declined in the fourth quarter owing to weak economic growth, a rise in inflation, and low buyers’ confidence in the market hovered over the region.

Analyst Insight

According to Procurement Resource, the price trend for acetaminophen/paracetamol are expected to turn positive in the upcoming months considering the steady increase in downstream demand and import-export activities.

For the Second Quarter of 2022


Due to increased demand from the downstream pharmaceutical sector, acetaminophen prices increased in the second quarter of 2022. The supply chain in local and international markets was affected by the lockdown imposed on Shanghai, the financial hub of China. Beginning with the second half of Q2 2022, government policies imposed price increases of 10%, which also had an impact on acetaminophen prices.

In addition, the pandemic first increased demand for analgesics like Acetaminophen, which in turn drove up demand and pushed up operational costs, causing prices to rise sharply. Prices for acetaminophen were reported to be USD 10,000/tonne FOB Shanghai at the end of Q2 2022. In India, the National Pharmaceutical Pricing Authority announced a price hike of 10.7% (in April) for nearly 800 scheduled medicines including acetaminophen (or paracetamol).


Due to a rise in energy prices, which raised the drug's pricing value, the market prices of acetaminophen climbed towards the end of the second quarter of 2022 in Europe. The continuous geopolitical unrest caused the price of oil to soar, which put pressure on the price of phenol. Additionally, the market was helped by the surge in demand for acetaminophen by several healthcare industries at the end of March.

The price of acetaminophen on the European market was impacted by the implementation of stringent controls and the lockout in exporting nations. The price trend for acetaminophen accelerated throughout the second quarter due to rising manufacturing expenses as well as increased freight costs.

North America

Due to growing demand from the downstream pharmaceutical industry and other logistical challenges, acetaminophen prices rose in the second quarter of 2022. The supply chain in local and international markets was interrupted by the implementation of lockdowns and tight rules in exporting nations. Additionally, prices rose sharply as a result of both rising operational costs and soaring demand. The second quarter saw a rise in acetaminophen/paracetamol costs as a result of cargo limitations and route disruption.

For the First Quarter of 2022


Acetaminophen's raw material is phenol, which is produced industrially. Due to Hindustan Organics' plant turnaround in early January, the Asia market saw a constant climb in price trend for the quarter ending March. Furthermore, prices continued to grow due to a supply imbalance from China as a result of market closures during the Winter Olympics and Lunar Holidays.

Furthermore, the upstream crude oil price surge had an impact on phenol's price trajectory. Demand from downstream automotive and electronic sectors grew in the regional market, indicating an upward price trend. Prices in India were set at 1785 USD/MT from then on. Acetaminophen prices were impacted as a result of this price trend of its raw material.


Due to an increase in regional demand, raw material prices throughout Europe increased during the quarter ending in March. Aside from geopolitical tensions, petroleum costs have skyrocketed, putting pressure on the phenol price to rise.

The increasing oil price has had a significant impact on petroleum feedstocks, which has influenced road and rail transportation. However, the price rose due to a surge in demand from the cosmetics industry as a result of an increase in youthful customers. As a result, the price in Germany increased to 1805 USD/MT, affecting acetaminophen prices as well.

North America

In North America, the price of phenol increased little in the first quarter of 2022. The importing nations' strong demand for phenol derivatives, which have uses in downstream cosmetics and the automobile industry, has resulted in a progressive price increasing trend. Aside from the increased demand, the Russian-Ukrainian conflict caused shipments to be rerouted, resulting in delays in supply on the international market.

Furthermore, container freight prices were at an all-time high as the US cargo deficit remained. In addition, the rising price of upstream crude oil has had an impact on the feedstock benzene, which supported the higher price trajectory of phenol in the region. As a result, in March, FOB USA prices settled at 1410 USD/MT. Acetaminophen prices followed a similar trend. 

For the Fourth Quarter of 2021


Following the festival season in October, market sentiments for the raw material in India continued to sway during the quarter ending in December. After a lengthy period of energy crises, China's availability of phenol improved, easing its supply in the Indian market. In mid-November, Hindustan Organics implemented a turnaround at its phenol/acetone factory in India, citing shrinking profitability.

The delayed restart of Hindustan Organics' phenol facility resulted in a slight increase in its costs. However, prices dropped dramatically again in late December, owing to a drop in foreign demand for the substance. Prices in India fell to 1480 USD/MT Ex-Dahej in December as demand dwindled.


Prices of phenol in Europe have been steadily declining in the last two months of the quarter ending in December. Supply chain disruption and freight rates began to diminish in Q4, but the regional energy crisis resulted in increased plant operating costs. Despite the fact that the cost of producing Phenol/Acetone remained stable, a drop in enquiries owing to the year-end slowdown resulted in a protracted dullness in the demand pattern. Phenol FD prices fell to USD 1725 per MT in December due to weak demand and increased supplies.

North America

In the quarter ending in December, North America had a steady fall in demand despite a significant increase in Phenol supply (RM). Following the hurricane Ida in Q3, supplies steadily improved as plant operations were resumed. By the fourth quarter, plant operating rates had nearly returned to normal, resulting in abundant product availability.

The demand for solvents in North America has been reduced due to a seasonal slowdown in demand, particularly from the paints & coatings and automotive industries. Furthermore, due to inventory build-up in several countries, export enquiries remained low. In late December, however, enquiries grew again, stabilising Phenol's downward trend in the area market. In December, phenol FOB prices in the United States were estimated to be USD 1470 per MT. Acetaminophen prices were impacted in a similar way. 

For First, Second and Third Quarters of 2021


In the first quarter, phenol supply in Asia Pacific improved as numerous production units completed their maintenance turnaround periods and resumed normal operations. However, supply was constrained for a few weeks as several Chinese players scaled their operations over the Chinese New Year.

The market witnessed restocking procedures in mid-March to fill stocks, followed by rebound consumption from Phenolic Resin makers, which kept demand strong. Acetone, a by-product, remained in great demand. Phenol prices in the region rose as a result of the strong demand and regular supply. In the market, the quarterly average price of the chemical in India was about 1204 USD/MT, while CFR prices for Q1 deliveries were estimated at 1016 USD/MT.

In the third quarter of 2021, the general market prognosis for the feedstock in Asia Pacific was mixed. In Q3, the supply fundamentals of phenol and its many derivatives remained stressed, as numerous factories in Asia and Europe were heard shutting down owing to a variety of operational issues.

In September, China's supply remained constrained because numerous facilities' running rates were maintained low to comply with the government's dual-energy standards. Due to sustained offtakes from the downstream automotive and construction sectors, demand was stable in Q3. In the third quarter of 2021, the price of phenol in India increased from 1524 USD/MT to 1608 USD/MT.


In the first half of Q1, supplies of phenol in the European region remained constrained, as several major plants were on maintenance turnaround since the previous quarter, exacerbated by a slowdown in industrial and commercial activities due to the European region's economy slumping amid a new COVID lockdown.

The downstream industry, on the other hand, saw a boost in demand as the region's automobile sector progressively recovered. Phenolic resin sales were strong in the first quarter, owing to increased demand from the construction industry, which then declined at the end of the quarter.

In the third quarter of 2021, the price curve for the raw material in Europe began to decline. The regional pricing of phenol declined due to a drop in upstream benzene prices, while the availability of its feedstock eased, causing phenol to continue the slide in Q3 2021. From July to September, the FD Hamburg price fell from 1710 to 1485 USD/MT, impacting acetaminophen prices as well. 

North America

Plant turnarounds significantly hampered phenol supply in the first three quarters of 2021, as two upstream cumene factories went through turnarounds, resulting in feedstock shortages. Production disruptions caused by the severe freeze weather conditions in the US Gulf area led in a record surge in phenol prices.

The shutdown of Olin Corp. in the United States in mid-February had an impact on market supply. The demand for phenol was driven by the housing sector's performance, as an extensive infrastructure plan aided the non-residential sector's expansion. In the week ending March 19th, Texas prices soared above 2570 USD/MT, a new high. Due to a global shortage of phenol, some supplies were diverted to Europe.

In the third quarter of 2021, the pricing in North America was stable and balanced. As output levels approached pre-storm levels, the sector observed improving demand and supply dynamics. When compared to Q2, the price of phenol dropped significantly in Q3.

In August, the price was estimated to be between 1280 USD/MT and 1320 USD/MT FOB Texas. As the industrial sector perked up to meet consumer attitudes, demand from downstream Nylon, Epoxy Resin, and Polycarbonate production facilities increased dramatically in Q3. Throughout the quarter, demand from the automotive, building, and construction sectors improved.

For the Year 2020


Supply overhang caused by substantial capacity increases of 400 KTPA from China's Zhejiang Petrochemicals kept market sentiments in the Asian phenol (RM) market in the doldrums. The situation was made worse by the restart of operations at Mitsui Chemicals in Osaka, Japan, and Chung Chun PC in China, with no additional turnarounds expected until the end of the following quarter. Furthermore, manufacturers in Northern Asia ran their operations close to capacity, but product stocks remained manageable thanks to robust demand for specific derivatives.


The market saw excess cargoes of phenol even after output from several key producers was stopped to reduce supply overhang, while downstream companies made no significant benefits. Despite the fact that two of the most recognised producers, Domo Caproleuna and Seqens, underwent a maintenance turnaround, the dull offtakes of phenol in the European market were not revived.

North America

The phenol market forecast in North America remained stable, as turnarounds from major manufacturers such as SABIC and Shell outstripped surplus supply. Because Asia was already swamped with the raw material supply as a result of China's large capacity increases, North America's export potential shrank significantly as demand from its key clients fell.

Despite the fact that certain downstream industries, such as automotive and construction, showed signs of recovery, participants were wary about lingering demand concerns due to an increase in coronavirus numbers in some regions of the region.

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Acetaminophen is a p-aminophenol derivative that functions as an analgesic and antipyretic. Although the specific mechanism by which acetaminophen exerts its effects is unknown, it is thought that it inhibits the nitric oxide (NO) pathway, which is mediated by a number of neurotransmitter receptors including N-methyl-D-aspartate (NMDA) and substance P, and so raises the pain threshold. The antipyretic efficacy might be due to reduction of prostaglandin production and release in the CNS, as well as prostaglandin-mediated effects on the anterior hypothalamic heat-regulating area.

Product Details

Report Features Details
Product Name Acetaminophen
Industrial Uses Chemical, Pharmaceutical
Chemical Formula HOC6H4NHCOCH3
Synonyms Paracetamol, 4-Acetamidophenol, 103-90-2, N-(4-Hydroxyphenyl)acetamide
Molecular Weight 151.16 g/mol
Supplier Database Abbott, Janssen Pharmaceuticals, Bristol-Myers Squibb and Company, Cardinal Health Inc, Viatris, Procter & Gamble Company
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Processes

  • Production of Acetaminophen from Phenol

The ortho-nitrotoluene is removed during the steam distillation process, leaving the para-nitrotoluene intact for further processing. The para-nitrotoluene is then reduced to the p-amino group, which is followed by acetylation, resulting in acetaminophen.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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