Asia Pacific Acetonitrile Market Size and Competitive Analysis by 2027

The Asia Pacific acetonitrile market was valued at US$ 138.87million in 2018 and is expected to reach US$ 220.05million by 2027; it is expected to grow at a CAGR of 5.3 % during the forecast period.

Acetonitrile, otherwise called methyl cyanide or ethane nitrile, is a dull, unpredictable, combustible, and lethal solvent. It is the simplest form of natural nitrile available and can be blended in with water alongside most other natural solvents. It additionally shows high miscibility with liquor, acetone, and epoxy gum with no obstruction with epoxy polymerization. Acetonitrile is dry fluid that is the least complex natural nitrile (hydrogen cyanide is a less complex one, but the cyanide anion isn't categorized under natural compounds). It is obtained as a byproduct of acrylonitrile production process. It is used as a polar aprotic solvent in natural amalgamation and butadiene refinement. It is utilized to make pharmaceuticals, aromas, elastic items, pesticides, acrylic nail removers, and batteries. Acetonitrile is also used in the process of removal of unsaturated fats from animal and vegetable oils.

The COVID-19 pandemic first began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace across the globe. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst-affected countries in terms confirmed cases and reported deaths. The pandemic has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdowns of the chemicals & materials industry and disruptions in supply chains due to lockdown of countries has created a strain on the supplies of the various products offered by this industry. Countries such as India and China have the highest number of confirmed cases of COVID-19 infection among all Asia Pacific countries. This is impacting the chemicals industry as the shutdowns called in the country, to contain the infection, are affecting the supply and distribution chains. In addition, the pandemic would also affect overall manufacturing processes, research, and development activities.

Asia Pacific acetonitrile Market

Market Insights

Importance of acetonitrile in the industrial and pharmaceutical industry

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 Insights

The Asia Pacific acetonitrile market, based on type, has been segmented into derivative and solvent. In 2018, the solvent segment accounted for a larger share of the Asia Pacific acetonitrile market, whereas the market for derivative is expected to grow at a higher CAGR during the forecast period. Acetonitrile, in its solvent form, is used for spinning fibers, casting and molding plastic products, extracting fatty acids from vegetable and animal oils, and manufacturing lithium batteries. As a solvent, it possesses strong dipole moment that imparts polarity to it, which implies that the organic modifier used in the mobile phase could have a powerful effect in reverse chromatography. It is also applied in DNA synthesis, peptide sequencing, and non-aqueous titrations owing to its solvent property.

Asia Pacific Acetonitrile Market, by Type – 2018 and 2027

Application-Based Market Insights

Based on application, the acetonitrile market is segmented into pharmaceutical, analytical industry, agrochemical, extraction, and others. In 2018, the pharmaceutical segment dominated the Asia Pacific acetonitrile market; whereas, the analytical industry segment is expected to register the highest CAGR in the market during 2019–2027. Acetonitrile act as a key solvent in the pharmaceutical industry. It is used as a reagent, solvent or extraction solvent, and starting material vitamin A, vitamin B1, cortisone, carbonate drugs, and other amino acids syntheses. Aqueous acetonitrile is used to remove pesticide residues from agriculture samples before they are dispatched for HPLC-DAD determination. In laboratories, the compound is used in high-performance liquid chromatography analysis,and as a solvent for DNA synthesis and peptide sequencing. Acetonitrile finds its application in agrochemicals as it can be used in the synthesis of artificial fertilizers and pesticides. It also acts as one of the inherent ingredients in pesticides. In the form of an inherent ingredient, acetonitrile act as a solvent, allowing the active ingredients to penetrate the leaf surface of a plant. The compound also helps extract fluids from fatty acids. The others segment includes industrial uses, consumer uses, textiles, rubber products, and lithium batteries. Acetonitrile removes tars, phenols, and coloring matter from petroleum hydrocarbons.

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Asia Pacific Acetonitrile Market: Strategic Insights

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Product development, merger and acquisition, and business planning are the commonly adopted strategies by companies to expand their product portfolio. Honeywell International Inc, Ineos AG, Mitsubishi Chemical Corporation, and Nova Molecular Technologies are among the market players implementing these strategies to enlarge their customer base and gain significant market share in Asia Pacific, which, in turn, permits them maintain their brand name in the Asia Pacific market.

Report Spotlights

• Progressive industry trends in the Asia Pacific acetonitrile market that help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the Asia Pacific acetonitrile market from 2017 to 2027
• Estimation of Asia Pacific acetonitrile demand across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
• Recent developments to understand the market competition in Asia Pacific
• Market trends and outlook, coupled with factors driving and restraining the growth of the Asia Pacific acetonitrile market
• Decision-making process by understanding strategies that underpin commercial interest with regard to the Asia Pacific acetonitrile market growth
• Asia Pacific acetonitrile market size at various nodes of market
• Detailed overview and segmentation of the Asia Pacific acetonitrile market, as well as its dynamics in the industry
• Asia Pacific acetonitrile market size in various regions with promising growth opportunities

Asia Pacific Acetonitrile Market, by Type

• Derivative
• Solvent

Asia Pacific Acetonitrile Market, by Application

• Pharmaceutical
• Analytical Industry
• Agrochemical
• Extraction
• Others

Company Profiles

• Concord Technology (Tianjin) Co., Ltd.
• Formosa Plastics Corporation
• Imperial Chemical Corporation
• Honeywell International Inc.
• Ineos AG
• Taekwang Industrial Co., Ltd.
• Mitsubishi Chemical Corporation

Asia Pacific Acetonitrile Market Regional Insights

The regional trends and factors influencing the Asia Pacific Acetonitrile Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Asia Pacific Acetonitrile Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Asia Pacific Acetonitrile Market Report Scope

Asia Pacific Acetonitrile Market Players Density: Understanding Its Impact on Business Dynamics

The Asia Pacific Acetonitrile Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.