Europe Acetonitrile Market Key Companies and SWOT Analysis by 2027

The Europe acetonitrile market was valued at US$ 36.31Mn in 2018 and is projected to reach US$ 55.41Mn by 2027, it is expected to grow at a CAGR of 4.8% during the forecast period

Acetonitrile, otherwise called methyl cyanide or ethanenitrile, is a dull, unpredictable, combustible, and lethal solvent. It is available in the simplest form of natural nitrile 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 byproductof the acrylonitrile production process. It is utilized as a polar aprotic solvent in natural amalgamation and butadienerefinement. 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.

Effect of COVID-19 on EuropeAcetonitrile Market

Wuhan (China) registered the emergence of COVID-19 outbreak in December 2019, and since then, it has spread at a fast pace worldwide. 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. Surfaces play a significant role in transmitting pathogens; hence, preventing them from getting contaminated is important. The pandemic has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdowns of 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. In Europe, Russiais the hardest-hit country by this pandemic. It is expected to suffer an economic hit due to the discontinuation of revenues from various industries. Other member states in the EU have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe.

Europe Acetonitrile Market

Market Insights

Importance of acetonitrile in industrial and pharmaceutical applications

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 Europe acetonitrile market based on type has been segmented into derivative and solvent. In 2018, the solvent segment accounted for a larger share of the Europe 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, acetonitrile possesses strong dipole moment which implies that the organic modifier used in the mobile phase that have a powerful effect on reverse chromatography. It is also applied in DNA synthesis, peptide sequencing, and non-aqueous titrations owing to its solvent property.                                                              

Rest of Europe Acetonitrile Market, by Type – 2018 and 2027

Application-Based Market Insights

Based on application, the acetonitrile market is segmented into pharmaceutical, analytical industry, agro chemical, extraction and others. In 2018, the pharmaceutical segment dominated the Europe acetonitrile market; whereas, the analytical industry segment is expected to grow at the fastest rate during 2019–2027. Acetonitrile act as a key solvent in the pharmaceutical 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 some amino acids. Aqueous acetonitrile is used to remove pesticide residues from agriculture samples before they are dispatched for HPLC-DAD determination. In laboratories, acetonitrile is used in the analysis of high performance liquid chromatography and as a solvent for DNA synthesis and peptide sequencing. Acetonitrile finds its application in agrochemicals as it synthesizes artificial fertilizers and pesticides. Acetonitrile 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. Acetonitrile helps in the extraction of fluids from fatty acids. The other segment of acetonitrile 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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Europe 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 portfolioAnqore BV, Formosa Plastic Corporation, Honeywell International Inc, Ineos AG and Mitsubishi Chemical Corporation are among the market players implementing this strategyto enlarge the customer base and gain significant market share in Europe, which in turn permits them maintain their brand name in the Europe market.

Report Spotlights

• Progressive industry trends in the Europe acetonitrile market that help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the Europe Acetonitrile market from 2017 to 2027
• Estimation of Europe 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 Europe
• Market trends and outlook, coupled with factors driving and restraining the growth of the Europe Acetonitrile market
• Decision-making process by understanding strategies that underpin commercial interest with regard to the Europe Acetonitrile market growth
• Europe Acetonitrile market size at various nodes of market
• Detailed overview and segmentation of the Europe acetonitrile market, as well as its dynamics in the industry
• Europe acetonitrile market size in various regions with promising growth opportunities

Europe Acetonitrile Market – By Form

• Derivative
• Solvent

Europe Acetonitrile Market, by Application

• Pharmaceutical
• Analytical Industry
• Agrochemical
• Extraction
• Others

Company Profiles

• Honeywell International Inc.
• Ineos AG
• Mitsubishi Chemical Corporation
• AnQore B.V.
• Concord Technology (Tianjin) Co., Ltd.
• Formosa Plastics Corporation

Report Scope

Europe Acetonitrile Market Regional Insights

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

Europe Acetonitrile Market Report Scope

Europe Acetonitrile Market Players Density: Understanding Its Impact on Business Dynamics

The Europe 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.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Europe Acetonitrile Market are:

1. Honeywell International Inc.
2. Ineos Ag
3. Mitsubishi Chemical Corporation
4. AnQore B.V.
5. Concord Technology (Tianjin) Co., Ltd

Disclaimer: The companies listed above are not ranked in any particular order.