Growing Industrialization will influence the Acetonitrile Market Growth

Acetonitrile, also known as methyl cyanide or cyanomethane is a colorless chemical compound in liquid form having chemical formula CH3CN. Acetonitrile is the most basic and simple organic nitrile. Acetonitrile is produced primarily as an acrylonitrile manufacture byproduct. It is utilized as a polar aprotic solvent in organic synthesis and for the purpose of butadiene purification. Acetonitrile finds major application in the pharmaceutical industry for synthesizing new medicaments, pesticides, vitamin B1, and other products.

Global Acetonitrile Market: Segmentation

Global Acetonitrile market is segmented on the basis of end-use industry, application, and region. On the basis of end-use industry, the global acetonitrile market can be segmented into pharmaceutical industry, analytical industry, and others etc.

On the basis of application, the global acetonitrile market is segmented as: Pharmaceutical applications, organic synthesis, specialty chemicals, extraction, HPLC solvents, and DNA and RNA synthesis etc.

On the basis of regions, the global dimethyl terephthalate market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific (APEJ), Japan, and MEA.

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Global Acetonitrile Market: Region-wise Outlook

The global acetonitrile market is expected to witness a considerable growth in CAGR between 2015 and 2025. The global consumption of acetonitrile is anticipated to continue to grow over the forecast period. The growth rates are expected to be the highest for China and India, owing to the rising production of generic pharmaceuticals, engineered drugs, and pesticides in the Asia-Pacific region. Asia-Pacific market is followed by North America and Europe in terms of demand and consumption.

Global Acetonitrile Market: Drivers

Strong demands for acetonitrile from end-use Industries like pharmaceutical manufacturing, biotechnological applications, specialty chemicals, electronics, and HPLC applications are driving the growth of the global acetonitrile market.

Moreover, growing demand for acrylonitrile products such as acrylic fibers, polyacrylamide, and acrylic plastics fuels the growth of the global acetonitrile market. Other potentials sources of supply such as recycling aids the growth of the global acetonitrile market

Global Acetonitrile Market: Restraints

Ever increasing prices of acetonitrile, as well as the shortage in supply has caused a hindrance to the growth of the global acetonitrile market.

Alternatives such as solvents used in the pharmaceutical and analytical industries also possess a threat to the growth of the global acetonitrile market. Acetonitrile can be hazardous to human health on prolonged exposure.

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Global Acetonitrile Market: Competitive Landscape

INEOS (U.S.), and CNPC Jilin Chemical Group (China), Asahi Kasei (Japan) are the key players in the global acetonitrile market. These manufacturers of acetonitrile together account for more than half of the global acetonitrile capacity.

Global Acetonitrile Market: Key Players

Some of the key players identified in the global acetonitrile market are INEOS, Asahi Kasei, CNPC Jilin Chemical Group, Imperial Chemical Corporation, AlzChem AG, Dupont, Purification Technologies, Inc., Sigma-Aldrich, Sterling Chemicals, J.T. Baker Chemical, GFS Chemicals Inc., Achemica, BP Chemicals, Continental Industries Group Inc., NeuChem Inc., and Filo Chemical Incorporated, etc.

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This release was published on openPR.