|05-17-2019 10:26 PM CET - Science & Education||
Acetonitrile Market Growing Prevalence Of Obesity Is Expected To Boost Market Growth 2018-2026 by Global Top Players- Merck KGaA, BASF SE, INEOS Nitriles Limited, Asahi Kasei Corporation, Mitsubishi Chemical Corporation
Press release from: Coherent Market Insights
Acetonitrile is a polar, organic, and colorless liquid with aromatic odor and produced mainly as a byproduct during the manufacture of acrylonitrile. It is mainly used as a solvent in the purification of butadiene in refineries, pharmaceuticals, casting & molding of plastic materials, perfume production, extraction of fatty acids from animal & vegetable oil, and others.
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Acetonitrile finds its major application in pharmaceutical industry as a key solvent in the manufacturing of antibiotics, owing to its favorable physical and chemical properties such as low freezing/boiling point and low viscosity. It is also regarded as safe over other major solvents such as dichloromethane due to low toxicity. Growing pharmaceutical industry is expected to provide major growth traction to the global acetonitrile market during the forecast period. According to International Trade Association, global pharmaceutical market was registered at US$ 1 trillion in 2015, which is expected to increase to US$ 1.3 trillion by 2020.
Acute inhalation or contact with acetonitrile can cause eye, skin, or respiratory irritation. It is also flammable due to low flash point. Such handling issues prevent the extensive use of acetonitrile, which can hinder the growth of the market during the forecast period.
Asia Pacific holds dominant position in the global acetonitrile market, owing to growing pharmaceutical and chemical industries in the region. For instance, according to International Trade Association, China was the second biggest pharmaceutical market in 2015, with a value of US$ 108 billion, which is expected to increase to US$ 167 billion by 2020.
Key Players in the Global Acetonitrile Market:-
Key players operating in the global acetonitrile market include Merck KGaA, BASF SE, INEOS Nitriles Limited, Asahi Kasei Corporation, Mitsubishi Chemical Corporation, The Chemical Company, Fisher Scientific UK Ltd, Imperial Chemical Corporation, Avantor Inc., and Nova Molecular Technologies.
Key companies focus on adopting various organic and inorganic growth strategies, in order to enhance its production capacity. For instance, in May 2018, Balaji Amines Ltd. announced plans to expand its annual acetonitrile production capacity from 10,000 MT to 30,000 MT by 2019.
On the basis of type, the global acetonitrile market is segmented into:
On the basis of application, the global acetonitrile market is segmented into
DNA & RNA Synthesis
On the basis of region, the global Acetonitrile market is segmented into:
Middle East and Africa
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About Coherent Market Insights:
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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This release was published on openPR.
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