Acetonitrile Market worth $595 million by 2028 | Key players INEOS AG (Switzerland.), Asahi Kasei Corporation (Japan), Nova Molecular Technologies (US), PetroChina Co. Ltd. (China).

According to recent market research the "Acetonitrile Market by Type (Derivative, Solvent), Application (Organic Synthesis, Analytical Applications, Extraction), End-use Industry (Pharmaceutical, Analytical industry, Agrochemical), Region - Global Forecast to 2028 ", is estimated at USD 439 million in 2023 and is projected to reach USD 595 million by 2028, at a CAGR of 6.2% from 2023 to 2028. Acetonitrile is used in a variety of applications in the analytical industry, pharmaceutical, agrochemical, and many other end-use industries, which is fueling the market to grow across the world. The pharmaceutical industry is a major consumer of acetonitrile due to various applications such as drug synthesis, compound manufacturing, and other analytical applications. The growth of various end-use industries is having a positive impact on the global acetonitrile market.

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Based on the type, the acetonitrile market has been segmented into solvent and derivative types. The derivative type of segment accounted for the second largest market share in terms of value in 2022. It is the fastest-growing segment, owing to the increasing usage of acetonitrile as a derivative in the pharmaceutical industry. Derivative acetonitrile serves as an intermediate during the production of active pharmaceutical ingredients (APIs) and other related compounds. It also gets widely used in the synthesis of a variety of agrochemicals, including insecticides, herbicides, and fungicides.

Acetonitrile is used in pesticides, along with other compounds for the extraction of fatty acids and vegetable oils or pesticide residue. The organic synthesis segment is projected to grow at a significant CAGR during the forecast period. The growth in the organic synthesis segment is due to acetonitrile being used as raw material starting materials for various chemicals such as acetophenone thiamine, acetamidine etc.

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The acetonitrile market has been studied in Asia Pacific, North America, Europe, the Middle East & Africa, and Latin America. North America is one of the significant markets in the global acetonitrile market. Investments in R&D for drug discovery are one of the major factors driving the growth of the North American acetonitrile market. Other significant factors influencing the growth of this market in North America include the well-established pharmaceutical industry in the region, many ongoing drug discovery activities, the presence of CROs, and inclination towards outsourcing of preclinical, clinical, and laboratory testing services by pharmaceutical and biopharmaceutical companies.

Prominent companies in the acetonitrile market include INEOS AG (Switzerland.), Asahi Kasei Corporation (Japan), Nova Molecular Technologies (US), PetroChina Co. Ltd. (China), Formosa Plastic Corporation (Taiwan), ShengHong Petrochemical Group Co. Ltd. (China), Avantor Performance Materials LLC (US), Imperial Chemical Corporation (Taiwan), Tedia Company Inc. (US), Avantor Performance Materials, LLC (US), Shanghai Secco Petrochemical Company Limited (China), Qingdao Shida Chemical Co., Ltd. (China), Nantong Acetic Acid Chemical Co., Ltd. (China), and others.

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Founded in 1998 and headquartered in Rolle, Switzerland, INEOS AG is one of the largest manufacturers of acetonitrile in the world. INEOS AG offers acetonitrile through its subsidiary INEOS Nitriles. The company offers a wide range of products for business, such as petrochemicals, specialty chemicals, oil & gas, and automotive. In the nitrile product category, the company offers acetonitrile and acrylonitrile, along with other co-products that are produced by ammonia and propylene feedstock. The company comprises 36 businesses with 194 production sites located in 29 countries across the world.

Asahi Kasei Corporation is one the leading Japanese companies providing products and solutions for various industries such as fibers & textiles, chemicals, electronics, homes, and healthcare. The company offers its products through three segments that include materials, homes, and health care. Through its material segment, the company offers three grades of acetonitrile, namely, chemical grade, reagent grade, and highly purified grade, under its acetonitrile product segment. The company was founded in 1931 and is headquartered in Tokyo, Japan. The company has a strong supply chain network and a wide geographic presence across the world.

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