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What's Driving The Acetonitrile Market Size? | AnQore, Avantor Performance Materials, Honeywell International Inc., Imperial Chemical Corporation, J.T. Baker Chemicals INEOS, Purification Technologies, AlzChem, BP Chemicals,
Acetonitrile Market
Acetonitrile Market size is likely to witness a significant upsurge in the next 6-7 years due to growing demand for plastic products. It is majorly utilized to obtain pure acrylonitrile and Acrylonitrile Butadiene Styrene (ABS) plastic through polymerisation offering superior tensile & impact strength and chemical resistance which should accelerate industry growth.
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It is a chemical compound which is colourless, volatile, flammable and toxic solvent. It is obtained in acrylonitrile production as by- product. This chemical offers superior miscibility with alcohol, epoxy resin and acetone without epoxy polymerisation interference should accelerate industry growth. Rising utilisation in pharmaceutical industry as reagent, reaction and extraction solvent for new medicine synthesis should accelerate the acetonitrile market demand.
Derivative type acetonitrile market size is anticipated to rise significantly in projected timeframe owing rising Vitamin B1 & sulfa pyrimidine production to facilitate growing nutrition and antibacterial medication demand. Rising product demand for derivative type as starting material for chemical synthesis including alpha-naphthyl acetic acid, thiamine, acetophenone, and acetomidine should accelerate industry growth.
Solvent type acetonitrile market may witness a steady demand over forecast period. Rising solvent demand for high performance liquid chromatography owing to high dipole moment and dielectric constant should propel industry growth. This solvent in liquid chromatography influences interaction between sample component and adsorbent during separation process of chiral systems which should propel product demand. In addition, increasing product demand for insulin and antibiotics production should boost industry growth.
Global agrichemicals market may surpass USD 300 billion by 2025 owing to rising demand for crop protection chemicals including fungicides, herbicides, and insecticides. Growing demand for animal fodder along with crop fibre in textile manufacturing should boost agrichemicals demand. Acetonitrile is widely utilised for agrichemical synthesis which should boost the acetonitrile market growth.
North America, led by Mexico, Canada and the U.S. acetonitrile market size, is anticipated to rise significantly in the projected time period. Growing chemical industry due to increasing domestic oil production, abundant feed stock and energy. Rising acetonitrile demand for inorganic chemicals production including acetamidine hydrochloride, thiamine, and α?napthaleneacetic acid should stimulate industry growth.
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Europe, driven by UK, Spain, Italy, France and Germany acetonitrile market may observe steady gains due to rising pharmaceutical industry supported by innovative product launch and favourable regulatory environment. Rising new stream of potential medical will support pharmaceutical industry growth that should promote acetonitrile demand for chemical synthesis in medical formulations. Supportive government initiatives by European union including PRIME (PRIority MEdicines) scheme aiming to strengthen support for targeting unmet medical needs should foster pharma products demand, thus driving acetonitrile regional market growth.
Asia pacific, led by Australia, South Korea, Japan, China and India acetonitrile market is anticipated to experience significant growth in agricultural industry. India is the largest producer of pulses, rice, wheat, spices and spice products. Supportive government initiatives including National Food Security Mission (NFSM) aiming to expand rice, wheat, pulses and coarse cereals should propel agrichemical demand, thus driving acetonitrile regional market growth.
Global acetonitrile market share is moderately fragmented. The key players operating in the market includes AnQore, Avantor Performance Materials, Honeywell International Inc., Imperial Chemical Corporation, J.T. Baker Chemicals INEOS, Purification Technologies, Inc., AlzChem AG, BP Chemicals,Nova Molecular Technologies, Asahi Kasei Medical Company Limited, CNPC Jilin Chemical, Dupont, Sterling Chemicals, , GFS Inc., Achemica, Continental Industries Group., NeuChem and Filo Chemical.
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