London, UK, March 28, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Pyridine Market By Classification (Alpha Picoline, Pyridine N-Oxide, Gamma Picoline, Beta Picoline, and 2-Methyl-5-Ethylpyridine), By Usage (Chemical, Agrochemical, Food, Pharmaceutical, and Others), and By Region-Global and Regional Market Overview, Market Intelligence, Comprehensive Research, Historical Data, and Forecast 2022–2028” in its research database.
“According to the latest research study, the demand of global Pyridine Market size & share was valued at approximately USD 1.1Billion in 2021 and is expected to exceed USD 2.4 billion by the end of 2028, growing at a CAGR of 9.5% the forecast period 2022 to 2028.” The report explores various factors and their implications on the pyridine market’s growth.
What is Pyridine? How big is the Pyridine Market?
- Pyridine Market Overview:
Pyridine is a colorless liquid chemical compound with an unpleasant odor. It has the chemical formula C5H5N and a structure that is comparable to benzene. It is miscible in the majority of organic solvents and is formed from chemical products such as ammonia, formaldehyde, and acetaldehyde. Pyridine derivatives are extensively employed in the manufacture of food additives and agrochemicals, as well as in the production of numerous pesticides, herbicides, and insecticides.
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Our Free Sample Report Includes:
- 2022 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 195+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2022 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Global Pyridine Market: Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 1.1 Billion |
| Projected Market Size in 2028 | USD 2.4 Billion |
| CAGR Growth Rate | 9.7% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | Chang Chun Petrochemical Co. Ltd., Weifang Sunwin Chemical Company Limited, Vertellus Holdings LLC, Novasyn Organics, Bayer AG, Resonance Specialties Ltd., C-Chem Co., Ltd., Mitsubishi Chemical Company, Lonza Group AG, Jubilant Life Sciences Ltd., Koei Chemical Co. Ltd., Shandong Luba Chemical Co. Ltd., and Others |
| Key Segment | By Classification, By Usage, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
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COVID-19 Impact:
The rise of COVID-19 in the 4th quarter of 2020 has increased sales for Pyridine in the pharmaceutical market, as people are afraid to seek out nutritional goods to build their immunity as a virus preventive approach. During this time, there has been a considerable increase in the usage of pharmaceutical drugs based on pyridine compounds such as nicotinamide, nicotine, vitamin B6, and others, driving sales of pyridine derivatives. In contrast, COVID-19 had an adverse effect on sales in 2020. In the textile and pesticide industries, pyridine compounds are frequently used. During the lockdown, garment and textile mills were briefly closed down due to the disease outbreak risk. Likewise, the export and import markets were shut down. As a result, the market remained stable during the lockdown.
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Global Pyridine Market: Growth Factors
- Rising pyridine demand from the agrochemical and pharmaceutical industries drives the market growth
The growing market for pyridine and its compounds from pharmaceutical and agrochemical applications is estimated to drive the market over the forecast period due to their diverse chemical functionalities. Pyridine was formerly only used as a solvent in pharmaceuticals, chemicals, and adhesives, but pyridine compounds are now increasingly being employed as starting materials in the production of pharmaceuticals, agrochemicals, food-flavoring additives, and other products.
Pyridine compounds are also employed in antifreeze mixtures as a denaturant. Other factors supporting the growth of the global pyridine market include advancements in biocatalyst processes, an increase in the consumption of synthesized pyridine, and increased usage of pyridine in herbicides & pesticides. Companies are conducting extensive research to improve the chemical functions of pyridine and its analogs in order to boost its absorption in agrochemicals such as insecticides, fungicides, acaricides, and herbicides.
Strict laws and restrictions governing the further use of pyridine are projected to stymie global pyridine market expansion. According to the Occupational Safety and Health Administration (OSHA), the Acceptable Daily Intake (ADI) for pyridine for inhalation exposure is 0.002 mg/kg/day, with a Reportable Quantity (RQ) of 100. One of the key problems limiting pyridine use is the detrimental composting it causes while using it as an herbicide. Furthermore, excessive pyridine use has the ability to infect compost materials such as hay, dung, and so on.
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Pyridine Market: Segmentation Analysis
The global pyridine market is segregated on the basis of classification, usage, and region.
- In 2020, pyridine N-oxide accounted for 38% of the global market, and by 2028, it is expected to reach USD 900 million.
By classification, the market is segmented into alpha picoline, pyridine N-oxide, gamma picoline, beta picoline, and 2-methyl 5-ethylperidine. Pyridine N-oxide had 38% of the global market in 2020 and is predicted to reach USD 900 million by 2028. Vitamin B3 is made from beta picoline. The beta picoline segment is expected to grow at a moderate CAGR throughout the forecast period. By usage, the market is divided into chemical, agrochemical, food, pharmaceutical, and others. The agrochemicals segment is predicted to account for the highest share of the global market and to grow at a CAGR of around 7.8% in terms of value between 2022 and 2028.
Competitive Landscape
Some of the main competitors dominating the global pyridine market are;
- Chang Chun Petrochemical Co. Ltd.
- Weifang Sunwin Chemical Company Limited
- Vertellus Holdings LLC
- Novasyn Organics
- Bayer AG
- Resonance Specialties Ltd.
- C-Chem Co.Ltd.
- Mitsubishi Chemical Company
- Lonza Group AG
- Jubilant Life Sciences Ltd.
- Koei Chemical Co. Ltd.
- Shandong Luba Chemical Co. Ltd.
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Key questions answered in this report:
- What is the size of the Pyridine market and what is its expected growth rate?
- What are the primary driving factors that push the Pyridine Market forward?
- What are the Pyridine Industry's top companies?
- What are the different categories that the Pyridine Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
Key Insights & Findings from the report:
- According to our primary respondents' analysis, the Pyridine market is predicted to increase at a CAGR of roughly 9.5%.
- Through the primary research, it was established that the global pyridine market was valued at USD 1.1 billion in 2021 and is predicted to reach USD 2.4 billion by 2028.
- The growing market for synthetic pyridine from the chemical and pharmaceutical industries is expected to fuel market expansion.
- By classification, the Pyridine N-oxide accounted for 38% of the worldwide pyridine market in 2020, and it is expected to grow to USD 900 million by 2028.
- By usage, the agrochemicals segment is expected to account for the largest share of the worldwide pyridine market and to grow at a value CAGR of roughly 7.8 percent between 2022 and 2028.
- On the basis of region, the Asia Pacific region accounts for a sizable portion of the global pyridine market.
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Key Offerings:
- Market Size, Share, Trends & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Classification, by Usage, and by Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Regional Dominance:
- The Asia Pacific region holds a significant share of the worldwide pyridine market
Asia Pacific region accounts for a sizable portion of the global pyridine market. The region's developing targeted market could be due to rising demand in nations such as India, China, Bangladesh, Japan, Vietnam, South Korea, and Malaysia. The region's demand is increasing as a result of favorable government laws, rising discretionary income, and widely accessible cheap labor, among other considerations. The rapidly expanding pharmaceutical industry, as well as growing preference from the agrochemicals sector, are likely to drive market expansion in the Asia Pacific.
Recent Developments
- June 2021: Vertellus agreed to buy ESIM Chemicals' specialties and intermediates division, which is a leading provider of specialized industrial chemicals, to the lubricant, pharmaceutical, coatings, and fuel industries.
- February 2021: Trineso agreed to purchase Synthomer PLC's vinyl pyridine latex business, which will broaden the company's product line.
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The global pyridine market is segmented as follows:
By Classification
- Alpha Picoline
- Pyridine N-Oxide
- Gamma Picoline
- Beta Picoline
- 2-Methyl 5-Ethylperidine
By Usage
- Chemical
- Agrochemical
- Food
- Pharmaceutical
- Others
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