Propionitrile Market | Air Liquide, Alfa Aesar, Ascend Performance Materials, Indo Amines Limited

Propionitrile, also known as propanenitrile or ethyl cyanide, is an organic compound with the molecular formula CH3CH2CN. The compound is a simple aliphatic nitrile that is colorless and is a water-soluble liquid. The global propionitrile market is estimated to surpass US$ 12.22 million by the end of 2027 in terms of revenue, exhibiting a CAGR of 5.9% during the forecast period (2020 to 2027).

The growing awareness for calories intake has led to an increasing demand for low-calorie food products and is driving the market growth of the Propionitrile. It is used as a building block in the production of the pharmaceutical drug flopropione that is used as serotonin receptor antagonist and spasmolytic agent that acts as an inhibitor in the pharmaceutical industry. Hence, rising cases of irritable bowel syndrome is accelerating the demand for antispasmolytic drug and ultimately favoring the market growth. According to International Foundation for Functional Gastrointestinal Disorders, 2016, the count for irritable bowel syndrome was approximately 10-15% globally.

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Detailed Segmentation:

Global Propionitrile Market, By Application:
Additives
Intermediates

Global Propionitrile Market, By End-Use Industry:
Personal Care
Pharmaceutical
Agriculture
Others

Based on applications, the intermediate segment held the largest share in the global propionitrile market. As an herbicide and pharmaceutical intermediate, propionitrile is a precursor to propylamines (nPA, DnPA, and TnPA), C-3 building blocks used in the preparation of Trifluralin (herbicide), and Flopropione (pharmaceutical).

Propionitrile is also used as additives in various end-use industries such as pharmaceutical and personal care industry. Hence, increasing demand for propionitrile in personal care industry and rising per capita spending on personal care products are burgeoning growth of this segment.

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The increasing demand from the personal care industry is projected to offer lucrative opportunities to players in the near future. According to the U.S. Department of Commerce, International Trade Administration (ITA), Indian beauty and personal care (BPC) industry was valued at approximately US$ 8 billion in 2016 and is expected to exhibit a CAGR of 5-6% during the forecast period (2017-2027). Shifting standards of living and rising awareness of personal grooming products are contributing to the expansion of consumer base for fragrances. According to Trading Economics Statistics on United States Disposable Personal Income, the disposable personal income in the U.S. averaged US$ 5,200.2 billion in 1959, which increased to US$ 15,742.81 billion in November 2018.

On the basis of end-use, in 2019, the agriculture segment accounted for 47.0% of the revenue share. Propionitrile is used in the preparation of herbicide and pesticide in agriculture industry. Hence, the rising demand for pesticides is driving growth of this segment. According to Coherent Market Insights’ analysis, the global insecticides market was valued at US$ 15.28 Bn in 2019 and is expected to reach US$ 19.78 Bn by 2027, exhibiting a CAGR of 4.9% and was pegged at 684.50 KT in 2019 and is projected to increase to 863.05 KT by 2027, witnessing a CAGR of 4.3% during the forecast period (2020-2027).

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This release was published on openPR.