Dublin, Jan. 19, 2023 (GLOBE NEWSWIRE) -- The "Pyridine & Pyridine Derivatives Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Pyridine, Beta Picoline, Alpha Picoline, Gamma Picoline and Others), Application, By Region, and Competition" report has been added to ResearchAndMarkets.com's offering.
Global Pyridine & Pyridine Derivatives Market is projected to grow at an impressive CAGR during the forecast period. The growth is attributed to increasing demand due to end-use industries such as agrochemical, pharmaceutical, latexes, food, electronics, and others.
It is forecasted that the U.S. agrochemical market will have a revenue of approximately USD 49 billion by 2025.
Across APAC Region, the Healthy growth of the pharmaceutical industry is driving the market. Growing Investment in India and other ASEAN countries contributes to the market's development. As per the data released by India Brand Equity Foundation, In June 2021, the Government of India announced an additional outlay of around USD 27 billion, which will be utilized for the Pharmaceutical PLI scheme in 13 key sectors such as pharmaceuticals ingredients, drug intermediaries and critical starting materials. Economic factors are significantly uplifting the market growth and increasing penetration of health insurance to push expenditure on healthcare and medicine in major countries across the globe.
An Increase in the Acceptance of Agrochemicals in the Developing Countries
The globalization of the agrochemical sector significantly impacted Asian Crop Protection markets. The need for various agrochemicals, such as herbicides and pesticides, is growing due to the population's fastest rate of increase, the necessity for food production to meet rising demand, and economic expansion. The available land mass for agrochemicals to preserve soil health and boost land productivity is growing as the demand for food products increases in rising nations of the Asia Pacific region. The market for pyridines and their derivatives is anticipated to be driven by the rising use of agrochemicals.
Increasing Paraquat Usage in Countries such as U.S., Brazil, and India
Despite being banned in several European and Chinese nations, paraquat is utilized in many other countries. Due to farmers' reliance on genetically modified, Roundup-ready soyabean crops, it is widely used in the United States. Since weeds are developing resistance to Roundup herbicides, farmers must use stronger and more efficient pesticides, including paraquat. This is fueling the growth of the Pyridine and Pyridine Derivatives Market over the forecast period as paraquat demand rises in the U.S.
Recent Trends and Developments
- Jubilant Ingrevia has purchased a 26.60% stake in AMP Energy Green Fifteen in February 2021. The company has increased its presence in several regions thanks to the acquisition.
- In December 2021, Vertellus has acquired Jarchem who is a global manufacturer and provider of Unique specialty ingredients and nature-based products to expand its product portfolio across multiple geographies.
Market Dynamics
Drivers
- Increasing Acceptance of Agrochemicals in Developing Economies
- Increasing Paraquat Usage in Countries Such as the U.S. Brazil, and India
Challenges
- Fluctuations in Pyridine and Beta Picoline Prices
Report Scope:
In this report, Global Pyridine & Pyridine Derivatives Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Pyridine & Pyridine Derivatives, By Type:
- Pyridine
- Beta Picoline
- Alpha Picoline
- Gamma Picoline
- Others
Pyridine & Pyridine Derivatives, By Application:
- Agrochemicals
- Pharmaceuticals
- Latexes
- Food
- Others
Pyridine & Pyridine Derivatives, By Region:
- North America
- United States
- Mexico
- Canada
- Europe
- Germany
- France
- United Kingdom
- Italy
- Poland
- Netherlands
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Vietnam
- Australia
- South America
- Brazil
- Colombia
- Argentina
- Middle East and Africa
- South Africa
- Saudi Arabia
- UAE
- Qatar
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Pyridine & Pyridine Derivatives Market Outlook
6. North America Pyridine & Pyridine Derivatives Market Outlook
7. Europe Pyridine & Pyridine Derivatives Market Outlook
8. Asia-Pacific Pyridine & Pyridine Derivatives Market Outlook
9. South America Pyridine & Pyridine Derivatives Market Outlook
10. Middle East and Africa Pyridine & Pyridine Derivatives Market Outlook
11. Market Dynamics
12. Market Trends & Developments
13. Global Pyridine & Pyridine Derivatives Market: SWOT Analysis
14. Porter's Five Forces Analysis
15. Competitive Landscape
16. Strategic Recommendations
Companies Mentioned
- Jubilant Ingrevia Limited
- Vertellus holdings LLC
- Parker Hannifin Corporation
- Lonza Group Ltd.
- Nanjing Red Sun Company
- Resonance Specialties Limited
- Shandong Luba Chemical Co., Ltd.
- Hubei Sanonda Co., Ltd.
- Chang Chun Petrochemical Co., Ltd.
- Koei Chemical Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/x08gft
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