Acetonitrile Market Size Boosting The Growth Worldwide | Biosolve Chimie, Concord Technology (Tianjin) Co., Ltd.

The global acetonitrile market held a market value of USD 327.1 Million in 2020 and is forecasted to reach USD 428.9 Million by the year 2027. The market is anticipated to grow at a CAGR of 5.4% during the projected period. The market volume in 2020 was around 119,232.9 tons.

Acetonitrile is a chemical compound having a formula of CH3CN. It is also known as methyl cyanide (MeCN) and is the simplest organic nitrile in liquid and colorless form. It is a byproduct of acrylonitrile. The market is expected to be driven by the growing demand from the pharmaceutical industry due to its drug recrystallization, high consumption in the production of epoxy hardeners & agrochemicals, and extensive adoption as an organic solvent in HPLC applications.

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The market is expected to be negatively hampered owing to the availability of substitutes, such as Prionil, and health concerns related to acetonitrile & its products. Like many other industries, the COVID-19 pandemic affected the acetonitrile market adversely owing to supply chain disruptions.

Growth Influencers:

Rising demand from the pharmaceutical industry due to its drug recrystallization

Acetonitrile is one of the key solvents used in the pharmaceutical industry. It has major applications in the production of antibiotics and insulin. Antibiotics include cephalosporins. It is also used as a mobile phase in high-performance liquid chromatography, which also has various applications in the separation of chiral systems in the pharmaceutical industry. In pharmaceutical process development, acetonitriles are used as predictive tools for preliminary screening of solvent systems for reducing costly and time-consuming experimental screening studies. These applications are increasing the demand for acetonitrile from the pharmaceutical industry, hence fueling market growth.

Extensive adoption as an organic solvent in HPLC applications

Acetonitrile is very commonly used as an organic modifier in reversed-phase chromatography. Furthermore, it has a lower UV cut-off, as compared to other solvents, which is also expected to boost the market growth. Also, it has low viscosity and hence can generate comparatively lower back pressures across the LC column. All these factors are expected to increase the adoption of organic solvents in HPLC applications, hence boosting the market growth.

Segments Overview:

The global acetonitrile market is segmented into type, grade (purity), application, and end-user.

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By Type,
• Derivative
• Solvent
The solvent segment is anticipated to hold the largest market share and is set to cross USD 270 million by 2027. This is owing to its high adoption as a solvent in many industries, such as pharmaceuticals. The derivative segment is expected to grow at the fastest rate during the forecast period.

By Grade (Purity),
• 99.99%
• 99.90%
• 99.80%
• 99.50%
• Others
The 99.50% grade segment is expected to cross a market volume of 26,000 tons by 2024 and hit 30,000 tons by 2027. The 99.99% grade segment is expected to grow at the fastest rate by 6.3% during the forecast period.

By Application,
• Laboratory
o DNA and RNA Synthesis
o Extraction
o High-Performance Liquid Chromatography (HPLC) Solvents
o Organic Synthesis
• Agricultural Chemical
• Pharmaceutical
o Synthetic medicines
- Insulin
- Antibiotics
- Vitamins
o Extraction Solvent
• Specialty Chemicals
• Others

The pharmaceutical segment held the largest market share and is expected to grow at the fastest rate of 6.3% owing to the rising demand for acetonitrile in pharmaceutical industries for drug crystallization. The specialty chemicals segment is anticipated to cross a market volume of 23,000 tons by 2025 and the laboratory segment is expected to hold a market share of 25.5%.

By End-User,
• Agricultural Industry
• Analytical Industry
• Pharmaceutical Industry
• Others
The pharmaceutical industry is estimated to hold the largest market share owing to the increasing demand for acetonitriles in the industry in the production of antibiotics, among other drugs.

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Regional Overview

On a regional basis, the global Acetonitrile market is segmented into North America, Europe, Asia Pacific, Middle East, Africa, and South America.

The North American region experienced a market volume of about 22,200.6 tons in 2020. The presence of a well-established pharmaceutical and analytical industry in the region is expected to contribute to the market growth. The Asia Pacific region is expected to witness the fastest growth rate of 6.2% owing to the high demand for acetonitrile for R&D activities in the region for the production of medicines as well as pesticides. The European region is also expected to witness significant growth during the forecast period.

Competitive Landscape

Key players operating in the global Acetonitrile market include Asahi Kasei Corporation, Avantor Performance Materials, LLC, Biosolve Chimie, Concord Technology (Tianjin) Co., Ltd., Connect Chemicals GmbH, AnQore, GFS Chemicals, Inc., Honeywell Research Chemicals, Imperial Chemical Corporation, INEOS AG, Mitsubishi Chemical Corporation, Nantong Acetic Acid Chemical Co., Ltd., Nova Molecular Technologies, Inc., Pharmco-Aaper, Qingdao Shida Chemical Co., Ltd., Robinson Brothers, Shanghai Secco Petrochemical Company Limited, Standard Reagents Pvt. Ltd., Taekwang Industrial Co., Ltd, Tedia Company, Inc., and Unigel, among others.

The approximate market share of the five major players is close to 69%. These market players are engaged in partnerships, new product launches, mergers & acquisitions to strengthen their market presence. For instance, in April 2021, Asahi Kasei opened its medical bioprocess subsidiary in China, hence expanding its market presence in the country.

The global Acetonitrile market report provides insights on the below pointers:

• Market Penetration: Provides comprehensive information on the market offered by the prominent players
• Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
• Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
• Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Acetonitrile market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
• Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The global Acetonitrile market report answers questions such as:

• What is the market size and forecast of the Global Acetonitrile Market?
• What are the inhibiting factors and impact of COVID-19 on the Global Acetonitrile Market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the Global Acetonitrile Market?
• What is the competitive strategic window for opportunities in the Global Acetonitrile Market?
• What are the technology trends and regulatory frameworks in the Global Acetonitrile Market?
• What is the market share of the leading players in the Global Acetonitrile Market?
• What modes and strategic moves are considered favorable for entering the Global Acetonitrile Market?

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