Global Acetonitrile Market is supposed to grow at a CAGR of 6% during the forecast period of 2020 to 2025. Increasing use of acetonitrile in pharmaceutical and analytical industry applications is driving the growth of this market across the globe
Acetonitrile is an excellent polar a-protic solvent, which has the ability to attract electrons towards it. As a solvent, it finds application in areas like polymer spinning and casting, peptide sequencing and DNA synthesis, and non-aqueous titrations. Acetonitrile is also used as a stabilizer for chlorinated solvents and is used for the purification of wool resins.
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Ferry Stena Germanica was the first ship to run on methanol which is used a marine fuel, this signified major milestone in the shift towards a sustainable future and decarbonisation process.
Acetonitrile is used in pharmaceutical applications, majorly for re-crystallization of drug. With the increase in expenditure towards the healthcare industry, the market looks lucrative. Acetonitrile are also used in agrochemicals industry for the production of various pesticides and fertilizers. In addition to this, they are also used in petrochemical industries for the production of chemicals that are utilized by various end use industries.
Acetonitrile is also being used as an alternate fuel in various power plants, for example, in a fluidized bed boiled power plants, methanol can be used as a fuel for combustion. The demand for alternate fuel is very high in European regions and thus this sector is growing rapidly. High consumption along with the production of epoxy hardeners combined with agrochemicals and the use of Acetonitrile as a raw material for manufacturing agriculture pesticides is also providing impetus to the development of this market.
Acetonitrile technique is extremely useful and is growing at a high rate but at the same time, it is costly. This cost inefficiency is playing a critical role in impeding the business growth. The industry players are also focusing on investing a lot into research and development to keep improving the quality of their products to meet the standard demands according to the environmental regulations in different areas. The fluctuations in the availability of the raw material can also hinder the growth. Increasing demand for substitute products is also a challenging factor for the expansion of the global acetonitrile market.
Acetonitrile Market has been segmented into the following categories:
Acetonitrile Market - By Type
Acetonitrile Market - By Application
Acetonitrile is widely used in the pharmaceutical sector in the several countries. Germany, for example, has been spending a lot in the healthcare sector and was able to contain the COVID-19 pandemic in the European region better than any other nation. Many countries throughout the world are following Germany’s model and have increase their investments in the healthcare sector. This has caused the acetonitrile market to grow significantly.
The market demand in the pharmaceutical industry is projected to grow at the highest CAGR during the outlook period of 2020 to 2025, in terms of value. This high growth is attributed to the perennial improvements in the infrastructure and other medical components. There are developments going on for making healthcare accessible to all. Acetonitrile are heavily used in this industry and is helping the market to flourish. The increasing use of chemicals is supposed to drive the global Acetonitrile market in the near future.
Asia Pacific region (APAC) is expected to dominate the global Acetonitrile market in terms of value during the projection period of 2020 to 2025. The ever-growing population of the Asian countries has sparked a demand for Acetonitrile in several industries. The market in these end-use segments is led by China, Japan, India, and Australia, among other countries. Amidst the incessant technological growth, the demand for high performing Acetonitrile is augmenting, which has led to developments in the APAC Acetonitrile market.
North America is the largest producer of acetonitrile. The North American market is expected to grow at an estimated CAGR of 2.8% from 2020 to 2025. The easy affordability of natural products is foreseen to become crucial in propelling demand in the North American market. Although, the Chinese market is growing rapidly, North American region is expected to remain at the top in terms of market size.
KEY MARKET PLAYERS
Henkel Ag & Co.
Imperial Chemical Corporations
Impact of COVID-19 on the Global Acetonitrile Market
Coronavirus has resulted in severe challenges for the acetonitrile market by impacting end-user sectors with temporary closures and supply chain disruptions. Major economies of the world are affected due to pandemic as they were the initial hotspots for the virus. But the Acetonitrile market saw a subdued growth in the later period owing to the increase sanitation activities that became mandatory in almost all working places but with absolutely no demand from the natural gas and oil industry, the market suffered from it.
In addition to this, increased awareness of personal hygiene and self care products boosted the demand during this period. More investments are made towards healthcare industries and pharmaceutical sector. Post the pandemic, the market is supposed to grow at the similar rate if not more at a CAGR of 3-4%.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.4 Y-o-Y Growth Analysis, By Type
5.1.5 Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
5.2.2 Analytic & Extraction
5.2.4Y-o-Y Growth Analysis, By Application
5.2.5 Market Attractiveness Analysis, By Application
5.2.6 Market Share Analysis, By Application
5.2.7 Market Share Analysis, By Type
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Type
18.104.22.168 By Application
6.1.4 Market Attractiveness Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Type
188.8.131.52 By Application
6.1.5 Market Share Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Type
18.104.22.168 By Application
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Asahi Kasei
8.3 CNPC Jilin Chemical Group
8.4 Imperial Chemical Corporation
8.5 AlzChem AG
8.6Dow Du Pont
8.7 Purification Technologies Inc.
8.8 Sigma-Aldrich, Sterling Chemicals
8.9 J.T. Baker Chemical
8.10 GFS Chemicals Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures