Press release
Propionitrile Market Growth Analysis | Top Key Players are Ascend Performance Materials, Indo Amines Limited, Sigma Solvents Pvt. Ltd., Keepchem Pharmaceutical Co., Ltd., Parchem fine & specialty chemicals, Eve Li Shanghai Worldyang Chemical Co., Limited,
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Increasing demand for propionitrile from pharmaceutical industry is driving growth of the global propionitrile market, owing to its applications in pharmaceutical industry, as solvent and intermediate. It is serves as a building block that is used in the preparation of the pharmaceutical drug flopropione by the Houben-Hoesch reaction. For instance, according to the India Brand Equity Foundation (IBEF), the pharmaceutical sector in India accounted for 2.4% share of the global pharmaceutical industry in terms of value in 2017, and is expected to expand at a CAGR of 12.89% during 2015 to 2020.
However, high exposure to propionitrile can cause vomiting, nausea, headache, confusion, weakness, dizziness which are the major factors restraining growth of the global propionitrile market.
Market Outlook
North America held dominant position in the global propionitrile market in 2017, owing to growing pharmaceutical industry in the region, which is propelling demand for propionitrile. Propionitrile is used to prepare flopropione, which is used as spasmolytic agent and serotonin receptor antagonist that acts as an inhibitor in pharmaceutical industry. For instance, according to the International Trade Association (ITA), total pharmaceutical sales in 2016, was valued at US$ 333 billion in the U.S.
Key Players
Key players operating in the global propionitrile market include Ascend Performance Materials, Indo Amines Limited, Sigma Solvents Pvt. Ltd., Keepchem Pharmaceutical Co., Ltd., Parchem fine & specialty chemicals, Eve Li Shanghai Worldyang Chemical Co., Limited, Toronto Research Chemicals, Merck KGaA, Zhangjiagang BeiLi Chemicals Co., Ltd., A. B. Enterprises, Triveni Interchem P. Ltd., Zhishang Group and eMolecules, Inc.
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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