New Delhi, June 21, 2022 (GLOBE NEWSWIRE) -- According to the study published by Astute Analytica, the Global Acetonitrile Market is projected to expand from US$ 353 Mn in 2021 to US$ 482.9 Mn by 2027. The market is estimated to register a CAGR of 5.4% during the forecast period 2022-2027. In terms of volume, the market is registering a CAGR of 5.7% during 2022-2027. The market growth is attributed to factors such as rising demand from the pharmaceutical industry, high consumption in the production of epoxy hardeners and agrochemicals, and extensive adoption as an organic solvent in HPLC applications.
Download Free Sample Report Now @ https://www.astuteanalytica.com/request-sample/acetonitrile-market
Market Snapshot:
Acetonitrile is used to extract fatty acids and animal and vegetable oils. It is also used in petrochemical industries for extractive distillation and as a solvent for spinning synthetic fiber and in casting and molding plastics. In the laboratory, acetonitrile is used in high-performance liquid chromatographic HPLC analysis and as a solvent for DNA synthesis and peptide sequencing. Furthermore, acetonitrile finds extensive application in batteries, particularly lithium-ion batteries, to enable next-generation high-power and energy-density lithium-ion batteries, which provide extraordinarily high-ionic conductivity.
Market Dynamics:
The market is majorly driven by factors such as rising demand from the pharmaceutical industry, high consumption in the production of epoxy hardeners and agrochemicals, and extensive adoption as an organic solvent in HPLC applications.
Acetonitrile finds its significant application in the pharmaceutical industry as a key solvent in the manufacturing of antibiotics and drug recrystallization, owing to its exceptional physical and chemical properties like low viscosity and low freezing/boiling point. Moreover, in the past few years, high purity solvents for High-Performance Liquid Chromatography (HPLC) become increasingly popular as the mobile phase is triggered by the increasing sensitivity of HPLC systems. As such, several organic solvents, typically methanol and acetonitrile, are increasingly used in HPLC applications to elute or retain chemical classes of interest from a stationary stage. However, the availability of substitutes like Prionil and the health concerns associated with acetonitrile poses a challenge to the Global Acetonitrile Market.
Segmental Analysis:
- Based on type, the solvent segment dominated the Global Acetonitrile Market in 2021 owing to the growing demand for solvents in high-performance liquid chromatography (HPLC). However, the derivatives segment holds the highest CAGR over the projection period as derivatives are used extensively to produce sulfa pyrimidine and Vitamin B1.
- In terms of grade (purity), the 99.99% segment is projected to grow at the highest CAGR of 6.3% during the forecast period. This is because acetonitrile provides additional purity for pharmaceutical and analytical industry applications coupled with the growing product demand from end-use industries.
- Based on application, the pharmaceutical industry holds the highest market share in 2021 and records the highest CAGR over the forecast period. This is due to the application of acetonitrile as a key solvent in the manufacturing of antibiotics due to its physical and chemical properties such as low freezing and boiling point and low viscosity.
- In terms of end-user, the pharmaceutical segment holds the highest market share in 2021. Acetonitrile is used to synthesize certain vitamins, and amino acids and is further used as a solvent in the production of insulin and antibiotics.
- Asia-Pacific is the highest shareholder region in the global acetonitrile market in 2021. The regional growth of the market is accredited to the chemical industry in the region, especially in the economies such as China and India. Large investments in the pharmaceutical sector and continuous research & development activities undertaken by companies are projected to increase market opportunities for acetonitrile.
Directly Purchase a copy of report with TOC @ https://www.astuteanalytica.com/request-sample/acetonitrile-market
| Report Attribute | Details |
| Market Size Value in 2021 | US$ 353 Million |
| Market Outlook for 2027 | US$ 482.9 Million |
| Expected CAGR Growth | 5.4% |
| Historic Data | 2017-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2027 |
| Top Market Players | Asahi Kasei Corporation, Avantor Performance Materials LLC, Formosa Plastics Corporation, Sterling Chemicals, INEOS AG and others |
| Segments Covered | By Type, By Grade (Purity), By Application, By End-User, By Region |
| Geographies Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Customization Options | Get your customized report as per your preference. Ask for customization |
Competitive Analysis:
- Asahi Kasei Corporation is a manufacturer of fiber products, chemicals, and electronics-related materials based on its core technology of chemistry. The company provides its wide product portfolio in 3 applications including the material sector, homes sector, and health care sector. Further, Asahi Kasei Corporation has seven operating companies namely Asahi Kasei Microdevices, Asahi Kasei Homes, Asahi Kasei Construction Materials, Asahi Kasei Pharma, Asahi Kasei Medical, ZOLL Medical, and Veloxis Pharmaceuticals.
- Biosolve Chimie is a producer and distributor of high purity solvents, formulations, and reagents, specializing in liquid and gas phase chromatography and specialized products for organic chemistry and DNA/RNA synthesis. It serves various end-use sectors such as research, pharmaceutical, biotechnology, chemical, and food-processing industries.
- Concord Technology (Tianjin) Co., Ltd., deals in the research and development sector and offers high purity of chemical reagents and pharmaceutical intermediates. The company offers HPLC solvents, pesticide analysis grade solvents, coulometric karl fischer reagents, and volumetric Karl Fischer reagents.
- AnQore is a specialist chemical supplier, offering ammonium sulfate, econitrile, acrylonitrile, hydrogen cyanide, acetonitrile, sodium cyanide, and diaminobutane. The company is a part of Royal DSM. It offers a safe and reliable supply of acrylonitrile, hydrogen cyanide, acetonitrile, and sodium cyanide.
- GFS Chemicals Inc. is a manufacturer and distributor of specialty chemicals. It is an ISO 9001-2015 certified manufacturer., which gives the approval to produce specialty alkynes and olefins, trace metal salts and solutions, pharmaceutical building blocks, low moisture/anhydrous salts, and specialty rare earth salts. The company serves its wide product portfolio in industries consisting of agrichemicals, pharmaceutical, energy, electronics, flavors & fragrances, and specialty polymers. It manufactures acids & bases, buffers & volumetric solutions, fine & specialty organics, inorganic compounds, lab supplies, reagents, reference standards, separation media, and solvents.
- INEOS is a manufacturer of petrochemicals, specialty chemicals, and oil & gas. It comprises 36 businesses each with a major chemical company. The company further offers acrylonitrile, specialty nitriles, acrylonitrile catalyst, ammonia, and nitric acid. Additionally, it has a wide service portfolio consisting of businesses, chemicals, polymers, oil & gas, markets, product finder, and other services. The company has its acetonitrile production plant located in Lima, US, and Port Lavaca, US
Segmentation Overview of the Global Acetonitrile Market
The following are the different segments of the Global Acetonitrile Market:
By Type Segment of the Global Acetonitrile Market is sub-segmented into:
- Derivative
- Solvent
By Grade (Purity) Segment of the Global Acetonitrile Market is sub-segmented into:
- 99.99%
- 99.9%
- 99.8%
- 99.5%
- Others
By Application Segment of the Global Acetonitrile Market is sub-segmented into:
- Laboratory
- Agricultural Chemical
- Pharmaceutical
- Specialty Chemicals
- Others
By End-User Segment of the Global Acetonitrile Market is sub-segmented into:
- Agricultural Industry
- Analytical Industry
- Pharmaceutical Industry
- Others
By Region Segment of the Global Acetonitrile Market is sub-segmented into:
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Western Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Argentina
- Brazil
- Rest of South America
To gain more insights into the market with a detailed table of content and figures, click here: https://www.astuteanalytica.com/industry-report/acetonitrile-market
About Astute Analytica
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Contact us:
Aamir Beg
BSI Business Park, H-15,Sector-63, Noida- 201301- India
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
Email: sales@astuteanalytica.com
Website: www.astuteanalytica.com
Follow US: LinkedIn | Twitter
