Europe Acetonitrile Market to Grow at a CAGR of 4.8% to reach US$ 55.41Mn from 2020 to 2027

Europe Acetonitrile Market to 2027- Covid-19 Impact and Regional Analysis by Type (Derivative and Solvent); Application (Pharmaceutical, Analytical, Agrochemical, Extraction, and Other Applications); and Country

Publication Month : Jul 2020

  • Report Code : TIPRE00012090
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 116
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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

Europe Acetonitrile Market
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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

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

europe-acetonitrile-market
Market Size Value inUS$ 36.31Million in 2018
Market Size Value byUS$ 55.41 Million by 2027
Growth rateCAGR of 4.8% from 2019-2027
Forecast Period2019-2027
Base Year2019
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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 Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Application, and Country

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

UK, Germany, France, Italy, Russia

The List of Companies- Europe Acetonitrile Market

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

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

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.

  1. 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.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 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:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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