[Research Report] The acetonitrile market was valued at US$ 236.18 million in 2018 and is expected to grow at a CAGR of 5.1% from 2019 to 2027 to reach US$ 368.60 million by 2027.
Acetonitrile, otherwise called methyl cyanide or ethanenitrile, is a dull, unpredictable, combustible, and lethal solvent. It is the least difficult natural nitrile and can be blended in with water alongside most natural solvents. It additionally shows high miscibility with liquor, CH3)2CO, and epoxy gum with no obstruction with epoxy polymerization. This dry fluid is the least complex natural nitrile to synthesize. It is delivered for the most part as a result of acrylonitrile produce. It is utilized as a polar aprotic dissolvable in natural amalgamation and butadiene refinement. It is utilized to make pharmaceuticals, aromas, elastic items, pesticides, acrylic nail removers, and batteries. It is also used to remove unsaturated fats from animal and vegetable oils.
In 2018, Asia Pacific held the largest share of the acetonitrile on the back of growing industrialization. The demand for acetonitrile is gaining pace due to its increased utilization in the manufacturing of vitamins A and B1, cortisone, APIs, carbonate drugs, sulfa pyrimidine, and several amino acids. The advancement in the pharmaceutical and biotechnology industry have supported the growth of acetonitrile market.
Covid-19 at first began in Wuhan (China) during December 2019, and starting now and into the foreseeable future, it has spread over the globe at a brisk pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst-affected countries in terms of confirmed cases and reported deaths as of April 2020. According to the latest WHO figures, the pandemic has led to ~2,719,896 confirmed cases and 187,705 total deaths globally. Covid-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global chemical and materials industry is one of the major industries facing serious disruptions such as breaks in supply chains and disruptions in manufacturing due to lockdown and office shutdowns. Thus, the pandemic has seriously hit the global acetonitrile market.
Acetonitrile Market
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Importance of acetonitrile in industrial and pharmaceuticals industries
Acetonitrile is regarded as a core solvent in the chemical industries, particularly in the pharmaceuticals industry, which accounts for ~70 % of the global demand for the same. The high demand for acetonitrile is due to its impeccable solvation ability toward a wide range of polar and nonpolar solutes, and physical properties such as low freezing/boiling points, low viscosity, and relatively low toxicity. Currently, the global pharmaceuticals industry reports two primary uses of acetonitrile, i.e., as laboratory solvents, particularly as a mobile phase in liquid chromatography analytical techniques and as an industrial process solvents in the manufacturing of antibiotics. Due to the need for high purity solvents in analytical techniques such as high performance liquid chromatography (HPLC), laboratories tend to use “Analar” grade acetonitrile, while industrial applications favor “technical grade” acetonitrile due to bulk requirements and lower cost. In both cases, the solvent is very highly refined in terms of purity, typically >99.9% for Analar and >99.5% for technical grade.
Type-Based Insights
The acetonitrile market based on nature has been segmented derivative and solvent. In 2018, the solvent segment accounted for a larger share of the global acetonitrile market, whereas the market for derivatives is expected to grow at a higher CAGR during the forecast period. Acetonitrile, in its solvent form, is used for spinning fibers, for casting and molding of plastic materials, for extraction of fatty acids from vegetable and animal oils and in the manufacture of lithium batteries. As a solvent, acetonitrile possesses strong dipole moment, which implied that the organic modifier used in the mobile phase could have a powerful effect on the selectivity of chromatography. It is also applied in polymer spinning and casting, DNA synthesis, peptide sequencing, and non-aqueous titrations. The growing use of acetonitrile solvents in several application bases is expected to boost the demand for solvent type acetonitrile in the near future.
Acetonitrile Market, by Type – 2018 and 2027
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Application-Based Insights
The acetonitrile market based on applications has been segmented into pharmaceuticals, analytical industry, agrochemical, extraction, and others. In 2018, the pharmaceuticals segment accounted for the largest share in the global acetonitrile market and is also expected to register the fastest CAGR during the forecast period. Acetonitrile act as a key solvent in the pharmaceuticals industry. It is used as a reagent, solvent or extraction solvent, and a starting material for synthesizing vitamin A, vitamin B1, cortisone, carbonate drugs, and a few amino acids. ~50 % of acetonitrile produced is used in the production of insulin and antibiotics, including third-generation cephalosporins. It is also used in the manufacture of synthetic pharmaceuticals. The increase in the use of acetonitrile in the manufacturing of vitamin B1 and sulfa-pyrimidine azeotropic distillation has been supporting the pharmaceutical market growth.
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Acetonitrile Market: Strategic Insights
Market Size Value in US$ 236.18 Million in 2018 Market Size Value by US$ 368.60 Million by 2027 Growth rate CAGR of 5.1% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Acetonitrile Market: Strategic Insights
| Market Size Value in | US$ 236.18 Million in 2018 |
| Market Size Value by | US$ 368.60 Million by 2027 |
| Growth rate | CAGR of 5.1% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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The acetonitrile market players adopt several strategies to expand their footprint worldwide. Formosa Plastic Corporation, Honeywell International Inc, Imperial Chemical Corporation, Ineos AG, Mitsubishi Chemical Taekwang Industrial Co. Ltd., and Tedia Company, Inc are among the major market players, and they are focused toward enlarging their customer base to gain significant share in the global market, which, in turn, permits them to maintain their brand name in it.
Acetonitrile Market – By Type
- Derivative
- Solvent
Acetonitrile Market – By Application
- Pharmaceuticals
- Analytical Industry
- Agrochemicals
- Extraction
- Other Applications
Company Profiles
- AnQore B.V
- Concord Technology (Tianjin) Co., Ltd
- FORMOSA Plastic Corporation
- Imperial Chemical Corporation
- Honeywell International Inc.
- INEOS AG
- MITSUBISHI CHEMICAL CORPORATION
- Nova Molecular Technologies
- Taekwang Industrial Co Ltd
- Tedia Company, Inc
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Application and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The major players operating in the global acetonitrile market are Anqore BV, Concord Technology (Tianjin) Co., Ltd., Formosa Plastic Corporation, Honeywell International Inc, Imperial Chemical Corporation, Ineos AG, Mitsubishi Chemical Corporation, Nova Molecular Technologies, Taekwang Industrial Co. Ltd. and Tedia Company among many others.
In 2018, the acetonitrile market was predominant in Asia-Pacific at the global level. India, Japan, China and South Korea are among the major producer of acetonitrile in the region. Expansion of production facilities coupled with the adoption of advanced technologies is supporting the growth of acetonitrile in Asia-Pacific. Also, increased utilization of acetonitrile in various applications among pharmaceutical, extraction and biotechnology industry have boosted the demand for acetonitrile in Asia-Pacific region.
The growth of the pharmaceutical segment is primarily attributed to the growing use of acetonitrile in the synthesis of APIs. It is used as a reagent, solvent or extraction solvent and a starting material for synthesizing vitamin A, vitamin B1, cortisone, carbonate drugs, and some amino acids. About 50 % of acetonitrile produced is used in the production of insulin and antibiotics, including third-generation cephalosporins. It is also used in the manufacture of synthetic pharmaceuticals. The increasing demand for nutrition and antibacterial medication leads to the growth of acetonitrile in pharmaceutical applications during 2019–2027.
The List of Companies - Global Acetonitrile Market
- Anqore BV
- Concord Technology (Tianjin) Co., Ltd.
- Formosa Plastic Corporation
- Honeywell International Inc
- Imperial Chemical Corporation
- Ineos AG
- Mitsubishi Chemical Corporation
- Nova Molecular Technologies
- Taekwang Industrial Co. Ltd.
- Tedia Company
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- Data Collection and Secondary Research:
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
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- Data Triangulation and Final Review:
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