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Although sriracha currently has no parallel in the culinary world, it’s spicy cousin sambal oelek is slowly giving it a run for its money. These two chili-based sauces have a lot in common, from chili, salt, vinegar and water, so much is the same. The difference comes down to the garlic and sugar used in sriracha sauce and of course in the cooking methodology.
On the other hand, higher concentrations of oleoresin Capsicum are used in the production of pepper sprays and self-defense products. These formulations are designed to deliver a potent and intense level of spiciness, causing irritation to the eyes, skin, and respiratory system when used for self-defense purposes.
Paprika oleoresin is a natural extract derived from the spice paprika, which is made from ground, dried Capsicum annuum peppers. The oleoresin is obtained through a solvent extraction process that captures the essential oils, pigments, and flavors of paprika. It is a concentrated form of the spice, often used as a coloring and flavoring agent in the food industry.

While paprika also comes from the capsicum plant, it is sweeter and milder than the hot varieties of red chili peppers. Though the paprika pepper is commonly used in Hungary and Spain, it also grows extensively in the US. Red peppers that are bright red in color when growing are typically sweeter and milder than the yellow or brown ones, which may be hotter.
What is the difference between paprika and bell pepper?

For traditional recipes that call for paprika, it's best to use what the recipe calls for, as the paprika is there for a reason, and its flavor and color are intended to give the dish an overall flavor profile and aspect that substitutions can't add.

Simply replace your paprika with the same amount of hot sauce available in your pantry or condiment rack, and you're good to go!