Press release
Pyridine Market Trends 2023, Key Players, Product Scope, Growth Rate Outlook, Challenge and Forecast to 2028
Pyridine Market
Report Highlights
How big is the global pyridine market?
The global pyridine market size reached US$ 663.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 904.6 Million by 2028, exhibiting a growth rate (CAGR) of 5.5% during 2023-2028.
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What are the growth prospects and trends in the global pyridine market?
Pyridine is a heterocyclic organic compound with a six-membered ring structure containing five carbon atoms and one nitrogen atom. It is characterized by its distinctive, somewhat pungent odor and is a colorless, flammable liquid at room temperature. Its chemical formula is C5H5N. It is known for its versatility and wide range of applications in both the chemical and pharmaceutical industries. Pyridine is a valuable solvent, catalyst, and reagent in various chemical processes. Its basic properties, due to the presence of the nitrogen atom, make it useful in acid-base reactions and for the synthesis of various organic compounds. In the pharmaceutical sector, pyridine derivatives are found in numerous drugs and pharmaceutical intermediates. It also plays a role in synthesizing vitamins, herbicides, pesticides, and other agrochemicals. At present, pyridine is gaining immense traction across the globe owing to its expanding applications in pharmaceuticals, agrochemicals, and chemical synthesis.
The global pyridine market is primarily driven by the rising product utilization as a chemical intermediate in the production of various chemicals, including pesticides, pharmaceuticals, and vitamins. Its versatile properties make it a crucial component in the synthesis of these products that has augmented its demand. Moreover, the rapid growth of the pharmaceutical industry, where pyridine is used as an essential ingredient in many pharmaceutical compounds, is positively influencing market growth. Additionally, the increasing adoption of pyridine in agrochemicals to enhance crop protection and yield has catalyzed market growth. Apart from this, the escalating use of pyridine as a solvent in numerous industrial processes, particularly in the production of rubber, plastics, and paints, is propelling the market growth, as it offers efficient solvency and evaporation properties. Besides this, the rising demand for pyridine in the manufacturing of flavor and fragrance compounds and the increasing product applications as corrosion inhibitors in the oil and gas industry are other major growth-inducing factors. Furthermore, the heightened focus on research and development (R&D) for the creation of innovative pyridine-based products in multiple sectors is contributing to market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
• Pyridine N-Oxide
• Alpha Picoline
• Gamma Picoline
• Beta Picoline
• 2-Methyl-5-Ethylpyridine (MEP)
• Others
Breakup by Synthesis:
• Chemically Synthesized Pyridine
• Coal Tar Extracted Pyridine
Breakup by End-Use Industry:
• Agrochemicals
• Pharmaceuticals
• Chemicals
• Food
• Others
Breakup by Application:
• Solvent
• Pesticides
• Rubber
• Medicines
• Paints and Dyes
• Others
Breakup by Region:
• Asia Pacific
• Europe
• North America
• Middle East and Africa
• Latin America
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
• Vertellus Holdings LLC
• Red Sun Co. Ltd.
• Jubilant Life Sciences Ltd.
• Lonza Group Ltd.
• Resonance Specialties Limited
• Shandong Luba Chemical Co., Ltd.
• Koei Chemical Company, Limited
• Barentz International B.V.
• Weifang Sunwin Chemicals Co. Ltd.
• Novasyn Organics Pvt. Ltd.
• Nippon Steel & Sumikin Chemical Co., Ltd., etc
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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