Acetonitrile Market Size & Analysis - Forecasts To 2025 By Product (Derivative, Solvent), By Application (Pharmaceuticals, Analytical Industry, Agrochemical, Extraction, Others), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), Vendor Landscape, End-use Landscape, and Competitive Landscape - Global Market Estimates
Acetonitrile Market Insights
The global acetonitrile market is expected to grow at an exponential CAGR over the coming years. Growing investments in the pharmaceutical sector and increasing application of acetonitrile in the analytical reagent fields is anticipated to augment market demand. The usage of acetonitrile in developing medical substances, vitamin B1, pesticides, and other drugs is projected to foster growth during the forecast period.
The growing investment in farming and agricultural activities across the world is expected to boost demand for acetonitrile. In 2009, the global acetonitrile supply faced severe shortage, however; the market conditions have stabilized over the coming years with many new players entering the market.
The chemical is also preferred over methanol for use as polar modifier in DCM solvent systems. The high demand of cosmetics is anticipated to positively influence market demand. Rising demand for edible vegetable oil & animal oil is expected to increase consumption of acetonitrile to extract fatty acid. The distillation process in the petrochemical industry also uses acetonitrile.
Acetonitrile Market: Product Insights
On the basis of product, the acetonitrile market is divided into derivative and solvents. The demand for derivatives is expected to grow at the highest CAGR over the coming years. Derivatives are used extensively for the production of sulfa pyrimidine and Vitamin B1. The manufacture of agrochemicals and epoxy hardeners by using acetonitrile is also growing at a high CAGR.
Acetonitrile Market: Application Insights
On the basis of application, the market is segmented into pharmaceuticals, analytical industry, agrochemical, and extraction, among others. It is extensively used as a solvent in the manufacture of butadiene and other pharmaceutical drugs. The product is also used in the production of pesticides and other agrochemicals. The use of acetonitrile is also prominent in the production of perfumes, batteries, and rubber products. Other applications are in casting & molding plastic and spinning synthetic fibers.
Acetonitrile Market: Regional Insights
Asia Pacific accounted for the largest share in 2016 and is projected to grow at a high CAGR over the coming years. Large investments in the pharmaceutical sector and continuous research & development activities undertaken by companies are projected to increase market opportunities for acetonitrile.
Some of the largest pharmaceutical markets include the U.S., Japan, China, and Germany. Increasing demand for the use of acetonitrile as a solvent in research laboratories, photographic film, and pharmaceutical manufacturing is projected to positively influence market growth. Shifting research bases and facilities in the Central & South American and Middle East & African countries are anticipate to foster demand over the coming years.
Acetonitrile Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase acetonitrile over the coming years. Some leading consumers in the market include Bayer, GlaxoSmithKline (GSK), and Sanofi among others.
Acetonitrile Market: Competitive Landscape
Some of the prominent companies catering to this market include Asahi Kasei, INEOS, Imperial Chemical Corporation, CNPC Jilin Chemical Group, Dupont, Sigma-Aldrich, Formosa Plastic Corporation, Nova Molecular Technologies, Inc., Avantor Performance Materials, LLC, Tedia Company, Inc., BP Chemicals, GFS Chemicals Inc., and J.T. Baker Chemical.
Please note: This is not an exhaustive list of companies profiled in the report.
In March 2014, Asahi Kasei Chemicals completed the construction of a new acetonitrile plant at Tongsuh Petrochemical’s, Ulsan, Korea. The increasing demand for acetonitrile in the analytical reagent fields and pharmaceuticals industry prompted this strategy.
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The global Acetonitrile Market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Acetonitrile Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company’s manufacturing Acetonitrile, and customer analytics.
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