The global acetonitrile market was worth USD 209.8 Million in 2020 and estimated to reach USD 277.5 Million by 2025, at a CAGR of 4.7% during the foreseen period. Acetonitrile is a chemical compound that is colourless, volatile, flammable and harmful solvent. This chemical provides high miscibility with alcohol, epoxy resin and acetone without epoxy polymerisation interference should boost the industry expansion. Increasing use in pharmaceutical industry as reagent, reaction and extraction solvent for latest medicine synthesis should boost the acetonitrile industry call. Acetonitrile is used as a polar aprotic solvent in organic synthesis and for the use of butadiene purification.
Other potential sources of supply like recycling helps the expansion of the worldwide acetonitrile industry. Acetonitrile is a colorless solvent that is produced as a by-product in the making of acrylonitrile. It is broadly employed in the pharmaceutical industry to make latest medicaments, vitamin B1, pesticides and several other products. It is employed as a polar aprotic liquid in organic synthesis and in purification of butadiene. Acetonitrile is a general two-carbon building block in organic synthesis of different important chemicals, involving acetamidine hydrochloride, and α-napthaleneacetic acid. It has been employed in formulae for nail polish remover, in spite its toxic nature.
The expansion of the acetonitrile industry is owing to a thriving pharmaceutical industry worldwide that is the significant customer of acetonitrile. It is also used in agrochemicals to synthesize vitamins and pesticides. In the petrochemical industry, acetonitrile is used as an extractive distillation solvent. However, a limited number of direct acetonitrile production facilities around the world are holding back the growth of the global acetonitrile market.
INEOS has declared that it is going to ask the employees on the proposed closing of the acrylonitrile making industry at Seal Sands on Teesside. The location that employs 224 people has been in INEOS ownership since 2008.
Construction of latest acetonitrile industry in Korea. Asahi Kasei Chemicals has finalized a decision to build a latest acetonitrile industry in Korea. The industry will have a production capacity of 11,000 tons per annum, and start up is scheduled for January.
Rise in call for acetonitrile in end-use businesses like pharmaceuticals and specialty chemicals is driving the worldwide acetonitrile industry. Rise in call for acetonitrile products like acrylic fibers, polyacrylamide, and acrylic plastics is also boosting the acetonitrile business. Due to the rising employment of acetonitrile in pharmaceutical and analytical industry applications, the call for acetonitrile has improved. The pharmaceutical use is dominating the acetonitrile industry with the increasing adoption. This industry is fueling industry leaders of acetonitrile industry across the world as it offers great profit margins. Furthermore, high consumption in accordance with the manufacturing of epoxy hardeners and agrochemicals and employment of acetonitrile as a raw material for making agriculture pesticides is also improving the expansion of this industry.
Changes in costs of acetonitrile is estimated to hinder the acetonitrile industry. Increase in costs of acetonitrile due to shortage in supply is also estimated to hamper the acetonitrile industry during the foreseen period. Less number of direct production facilities of acetonitrile across the world acts as a key restraint to the expansion of the acetonitrile industry.
Increasing call for animal fodder along with crop fibre in textile making should fuel agrichemicals call. Acetonitrile is broadly used for agrichemical synthesis that should fuel the acetonitrile industry expansion. The expansion of the acetonitrile industry is owing to escalating pharmaceutical industry across the world that is the key customer of acetonitrile. It is also employed in agrochemicals for synthesizing vitamins and pesticides. It is adopted to carry out withdrawal of fluids from fatty acids. In the petrochemical industry, acetonitrile is employed as an extractive distillation liquid.
Rising call for alternative products is a challenging factor hampering the expansion of this industry. Substitutes like solvents employed in the pharmaceutical and analytical industries also pose a danger to the expansion of the global acetonitrile industry. Acetonitrile can be dangerous to human health on continuous exposure.
Acetonitrile is a very polar aprotic liquid that has the ability to attract electrons towards itself. As a solvent, it is employed for polymer spinning and casting and peptide sequencing, and non-aqueous titrations. Acetonitrile is also employed as a stabilizer for chlorinated liquids and is employed for making the wool resins pure.
The pharmaceutical application sector of the acetonitrile industry is estimated to develop at the fastest CAGR during the foreseen period, on the basis of value. The expansion of this sector of the industry can be credited to the escalated call for recrystallization of drugs from the pharmaceutical industry.
Middle East & Africa
The Asia Pacific region is the biggest industry for acetonitrile across the world. Constant rising population and increasing number of end-use businesses in the region have also resulted in the escalated call for acetonitrile in the Asia Pacific area. This, in turn, is boosting the expansion of the Asia Pacific acetonitrile industry. In addition to that, constant R&D activities being worked out in the region for the advancement of latest medicines and pesticides are also boosting the expansion of the Asia Pacific acetonitrile market. The Asia Pacific is expected to be a major customer of acetonitrile during the foreseen period. The industry in the region is also estimated to expand at a fast-paced CAGR during the outlook period. North America, dominated by Mexico, Canada and the U.S. acetonitrile industry size, is estimated to increase highly in the estimated period. Rising chemical industry owing to increasing domestic oil production, abundant feed stock and energy also supports this business growth.
The derivatives sector of the acetonitrile industry is predicted to raise at the highest CAGR owing to escalated employment of acetonitrile in pharmaceutical and analytical uses. The rising consumption of acetonitrile in the manufacturing of epoxy and agrochemical hardeners is also driving the expansion of the derivatives sector of the acetonitrile industry. Acetonitrile as a raw material for the manufacture of agricultural pesticides and flavorings is driving the acetonitrile market.
The major players working in the industry are AnQore, Avantor Performance Materials, Honeywell International Inc., Imperial Chemical Corporation, J.T. Baker Chemicals INEOS, Purification Technologies, Inc., AlzChem AG, BP Chemicals,Nova Molecular Technologies, Asahi Kasei Medical Company Limited, CNPC Jilin Chemical, Dupont, Sterling Chemicals, , GFS Inc., Achemica, Continental Industries Group., NeuChem and Filo Chemical. Companies are majorly focusing on innovation, rising production capacities, acquisitions and mergers to boost worldwide product call.
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
188.8.131.52 By Geographical Area
184.108.40.206 By Type
220.127.116.11 By Application
6.1.4 Market Attractiveness Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Application
6.1.5 Market Share Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Type
220.127.116.11 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