Growth of Acetonitrile Market Boosted by Demand in Pharmaceutical Industry

The global acetonitrile industry has seen a positive growth over the past several years owing to its extensive applications in the pharmaceuticals industry. As a result, the industry is further expected to grow at a CAGR of 4% during 2017-2022.

IMARC Group’s new report, titled “Acetonitrile Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global acetonitrile market reached a volume of nearly 103 Thousand Tonnes in 2016, growing at a CAGR of around 5% during 2009-2016. Acetonitrile, also known as Methyl Cyanide, Cyanomethane and Ethanenitrile, is a clear, colourless liquid with a sweet odour. It represents an important solvent for the pharmaceutical and biopharmaceutical sector, where it plays a significant role in recrystallization and quality control. According to the report, the acetonitrile market is expected to reach a volume of more than 130 Thousand Tonnes by 2022, exhibiting a CAGR of 4% during 2017-2022.

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Highlights of the global acetonitrile market:

The demand for acetonitrile is directly related to the demand for ABS resins.
Pharmaceutical industry represents the largest end-use segment of acetonitrile.
Asia represents the largest producer of acetonitrile globally.

Acetonitrile is used in batteries, owing to its high dielectric constant. It is also used as a solvent in purification of butadiene in refineries and the manufacture of DNA oligonucleotides from its monomers. Moreover, it is a popular solvent for high performance liquid chromatography(HPLC) due to its ultraviolet transparency, low viscosity and low chemical reactivity. It is also used as a building block during the organic synthesis of a number of chemical compounds, including acetamidine hydrochloride, α-naphthaleneacetic acid and thiamine. Despite its extensive applications, the demand for acetonitrile is primarily driven by the demand for acrylonitrile. Since, the largest segment employing acrylonitrile is ABS resins, the demand for ABS (Acrylonitrile butadiene styrene) resins effects the demand for acetonitrile.

On the basis of end-use, the pharmaceutical industry is the largest segment employing acetonitrile, accounting for the majority of the total global share. On the basis of region, Asia represents the largest producer and accounts for about half of the global production. Other major regions include North America and Europe. Key players operating in this industry include Asahi Kesai, PetroChina, Formosa, Secco and Sinopec.

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The report by IMARC Group has examined the global acetonitrile market on the basis of:

End-Use:

Pharmaceuticals
Others
Regions:

Asia
North America
Europe

Key players:

Asahi Kesai
PetroChina
Formosa
Secco
Sinopec

Find more reports related to Chemical & Materials Market Research @ http://www.imarcgroup.com/categories/chemicals-market-reports

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This release was published on openPR.