Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "Global Acetonitrile Market by Type (Derivative, Solvent), Application (Organic Synthesis, Analytical Applications, Extraction), End-use Industry (Pharmaceutical, Analytical industry, Agrochemical), Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The acetonitrile market is projected to grow from USD 439 million in 2023 to USD 595 million by 2028 at a CAGR of 6.2%
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall acetonitrile market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
Expansions in current applications, cost-effectiveness, Innovations, emerging applications, and value-chain optimizations are some of the key factors driving the growth of the market. The acrylonitrile-acetonitrile by-product relationship is one of the restraining factors that hamper the growth of the market.
In-depth assessment of market shares, growth strategies, and service offerings of leading players like INEOS AG, Asahi Kasei Corporation, Formosa Plastic Corporation, Imperial Chemical Corporation, Nova Molecular Technologies, Inc., Tedia Company, Inc., PetroChina Co. Ltd., Shanghai Secco Petrochemical Company Limited, Avantor Performance Materials, LLC, Ltd. Nantong Acetic Acid Chemical Co., Ltd., Alkyl Amines Chemicals Ltd., Balaji Amines Ltd. among others in the acetonitrile market.
The derivative segment is the fastest-growing type segment of acetonitrile in terms of value and volume
Based on type, the acetonitrile market has been segmented into derivative and solvent. As a derivative, acetonitrile is widely used in the pharmaceutical industry for the manufacturing of Vitamin B1 and sulfa pyrimidine.
The increasing use of acetonitrile as a derivative or raw material in pharmaceutical applications is the major factor driving the growth of the derivative acetonitrile segment. The acetonitrile market is majorly driven by the rise in demand from the pharmaceutical and analytical industries across the globe.
The analytical applications to lead the acetonitrile application segment in 2022
The analytical applications segment accounted for the largest market share in terms of value in 2022. Acetonitrile is widely used in analytical applications such as standard preparations, electrochemistry, sample preparations, chromatography solvents, and many more. It can also be used for crystallization and purification processes in the laboratories. Analytical applications is one the largest application type covering all major end-use industries of acetonitrile.
The pharmaceutical segment is the fastest-growing end-use industry segment of acetonitrile in terms of both value and volume
Based on the end-use industry, the pharmaceutical segment is expected to show the highest growth rate during forecasted years. Government initiatives for the growth of the pharmaceutical industry and increasing the use of acetonitrile in various applications are the major factors driving the acetonitrile market. It is the most versatile and cost-effective organic nitrile chemical and is widely used in the pharmaceutical industry across the world.
Europe region has the second largest share in the acetonitrile during the forecast period
Europe is the second-largest market for acetonitrile in the world. Germany, France, and the UK are the leading markets for acetonitrile in the region. The demand for acetonitrile in the region is driven by Western European countries such as Germany, the UK, and France due to a high focus on pharmaceutical and biotechnological research.
The growth of the European pharmaceutical market can be attributed to innovations in oncology and the development of medical drugs for chronic heart failure, rheumatoid arthritis, and Alzheimer's, as acetonitrile is used in medicinal drugs.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 222 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $439 Million |
| Forecasted Market Value (USD) by 2028 | $595 Million |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
Company Profiles
- Alfa Aesar
- Alkyl Amines Chemical Co., Ltd.
- Anqore
- Asahi Kasei Corporation
- Avantor Performance Materials, LLC
- Balaji Amines Ltd.
- Biosolve Chimie
- Concord Technology (Tianjin) Co., Ltd.
- Connect Chemicals GmbH
- Formosa Plastic Corporation
- Fushun Shuneng Chemical Co., Ltd.
- Gfs Chemicals, Inc.
- Honeywell Research Chemicals
- Hunan Chem. Europe Bv
- Imperial Chemical Corporation
- Ineos Ag
- Jindal Speciality Chemicals
- Kishida Chemical Co., Ltd.
- Mitsubishi Chemical Corporation
- Nantong Acetic Acid Chemical Co., Ltd.
- Nova Molecular Technologies, Inc.
- Petrochina Co. Ltd.
- Pharmco-Aaper
- Qingdao Shida Chemical Co., Ltd.
- Robinson Brothers
- Shandong Jincheng Pharmaceutical Group Co., Ltd.
- Shanghai Secco Petrochemical Company Limited
- Shenghong Petrochemical Group Co., Ltd
- Standard Reagents Pvt. Ltd.
- Taekwang Industrial Co., Ltd.
- Tedia Company, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/cny8ii
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