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 | No. of Pages: 116 | Category: Chemicals and Materials | Status: Published
Covid

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.

 

Strategic Insights

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

1.           Introduction

1.1         Scope of the Study

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

1.3.1        Europe Acetonitrile Market – By Type

1.3.2        Europe Acetonitrile Market – By Application

1.3.3        Europe Acetonitrile Market – By Country

2.           Key Takeaways

3.           Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           Acetonitrile Market Landscape

4.1         Market Overview

4.1.1        Europe PEST Analysis

5.           Acetonitrile Market – Key Industry Dynamics

5.1         Key Market Drivers

5.1.1        Importance of acetonitrile in the industrial and pharmaceutical industry

5.1.2        Good solvent properties of acetonitrile to boost its demand in the global market

5.2         Key Market Restraints

5.2.1        Increasing Demand for Substitute Products

5.3         Key Market Opportunities

5.3.1        Growing demand from the developing countries

5.4         Key Future Trends

5.4.1        Production of acetonitrile from bio-ethanol ammoxidation

5.5         Impact Analysis of Drivers and Restraints

6.           Acetonitrile– Europe Market Analysis

6.1         Europe Acetonitrile Market Overview

6.2         Europe Acetonitrile Market Forecast and Analysis

7.           Europe Acetonitrile Market Analysis - By Type

7.1         Overview

7.2         Derivative

7.2.1        Overview

7.2.2        Europe Derivative Acetonitrile Revenue and Forecasts to 2027 (US$ MN)

7.3         Solvent

7.3.1        Overview

7.3.2        Europe Solvent Acetonitrile Market, Revenue Forecast to 2027 (US$ Mn)

8.           Europe Acetonitrile Market Analysis – By Application

8.1         Overview

8.2         Europe Acetonitrile Market Breakdown, By Application, 2018 & 2027

8.3         Pharmaceutical

8.3.1        Overview

8.3.2        Europe Pharmaceutical Acetonitrile Market Revenue and Forecasts to 2027 (US$ MN)

8.4         Analytical Industry

8.4.1        Overview

8.4.2        Europe Analytical Industry Acetonitrile Market Revenue and Forecasts to 2027 (US$ MN)

8.5         Agrochemical

8.5.1        Overview

8.5.2        Europe Agrochemical Acetonitrile Market Revenue and Forecasts to 2027 (US$ MN)

8.6         Extraction

8.6.1        Overview

8.6.2        Europe Extraction Acetonitrile Market Revenue and Forecasts to 2027 (US$ MN)

8.7         Others

8.7.1        Overview

8.7.2        Europe Others Acetonitrile Market Revenue and Forecasts to 2027 (US$ MN)

9.           Europe Acetonitrile Market – Country Analysis

9.1         Overview

9.1.1        Europe Acetonitrile Market Breakdown, by Key Countries

9.1.1.1          Germany: Acetonitrile Market –Revenue and Forecast to 2027 (US$ Million)

9.1.1.1.1          Germany: Acetonitrile Market, by Type

9.1.1.1.2          Germany: Acetonitrile Market, by Application

9.1.1.2          France: Acetonitrile Market –Revenue and Forecast to 2027 (US$ Million)

9.1.1.2.1          France: Acetonitrile Market, by Type

9.1.1.2.2          France: Acetonitrile Market, by Application

9.1.1.3          Italy: Acetonitrile Market –Revenue and Forecast to 2027 (US$ Million)

9.1.1.3.1          Italy: Acetonitrile Market, by Type

9.1.1.3.2          Italy: Acetonitrile Market, by Application

9.1.1.4          UK: Acetonitrile Market –Revenue and Forecast to 2027 (US$ Million)

9.1.1.4.1          UK: Acetonitrile Market, by Type

9.1.1.4.2          UK: Acetonitrile Market, by Application

9.1.1.5          Russia: Acetonitrile Market –Revenue and Forecast to 2027 (US$ Million)

9.1.1.5.1          Russia: Acetonitrile Market, by Type

9.1.1.5.2          Russia: Acetonitrile Market, by Application

9.1.1.6          Rest of Europe: Acetonitrile Market –Revenue and Forecast to 2027 (US$ Million)

9.1.1.6.1          Rest of Europe: Acetonitrile Market, by Type

9.1.1.6.2          Rest of Europe: Acetonitrile Market, by Application

10.        Impact of COVID-19 Pandemic on Europe Acetonitrile Market

10.1      Overview

10.2      Europe: Impact Assessment of COVID-19 Pandemic

11.        Company Profiles

11.1      Honeywell International Inc.

11.1.1     Key Facts

11.1.2     Business Description

11.1.3     Products and Services

11.1.4     Financial Overview

11.1.5     SWOT Analysis

11.2      Concord Technology (Tianjin) Co., Ltd.

11.2.1     Key Facts

11.2.2     Business Description

11.2.3     Products and Services

11.2.4     Financial Overview

11.2.5     SWOT Analysis

11.3      FORMOSA Plastic Corporation

11.3.1     Key Facts

11.3.2     Business Description

11.3.3     Products and Services

11.3.4     Financial Overview

11.3.5     SWOT Analysis

11.4      AnQore B.V.

11.4.1     Key Facts

11.4.2     Business Description

11.4.3     Products and Services

11.4.4     Financial Overview

11.4.5     SWOT Analysis

11.5      INEOS AG

11.5.1     Key Facts

11.5.2     Business Description

11.5.3     Products and Services

11.5.4     Financial Overview

11.5.5     SWOT Analysis

11.6      MITSUBISHI CHEMICAL CORPORATION

11.6.1     Key Facts

11.6.2     Business Description

11.6.3     Products and Services

11.6.4     Financial Overview

11.6.5     SWOT Analysis

12.        Appendix

12.1      About the Insight Partners

12.2      Glossary

LIST OF TABLES

Europe Acetonitrile Market Revenue and Forecasts to 2027 (US$ Mn)

Table 1.             Europe Acetonitrile Market Revenue and Forecasts to 2027 – By Type (US$ Mn)

Table 2.             Germany: Acetonitrile Market, by Type– Revenue and Forecast to 2027 (USD Million)

Table 3.             Germany: Acetonitrile Market, by Application – Revenue and Forecast to 2027 (USD Million)

Table 4.             France Acetonitrile Market, by Type– Revenue and Forecast to 2027 (USD Million)

Table 5.             France: Acetonitrile Market, by Application – Revenue and Forecast to 2027 (USD Million)

Table 6.             Italy: Acetonitrile Market, by Type– Revenue and Forecast to 2027 (USD Million)

Table 7.             Italy: Acetonitrile Market, by Application – Revenue and Forecast to 2027 (USD Million)

Table 8.             UK: Acetonitrile Market, by Type– Revenue and Forecast to 2027 (USD Million)

Table 9.             UK: Acetonitrile Market, by Application– Revenue and Forecast to 2027 (USD Million)

Table 10.          Russia: Acetonitrile Market, by Type– Revenue and Forecast to 2027 (USD Million)

Table 11.          Russia: Acetonitrile Market, by Application– Revenue and Forecast to 2027 (USD Million)

Table 12.          Rest of Europe: Acetonitrile Market, by Type– Revenue and Forecast to 2027 (USD Million)

Table 13.          Rest of Europe: Acetonitrile Market, by Application– Revenue and Forecast to 2027 (USD Million)

Table 14.          Glossary of Terms, Europe Acetonitrile Market

 

LIST OF FIGURES

Figure 1.           Europe Acetonitrile Market Segmentations

Figure 2.           Europe Acetonitrile Market Segmentation – By Country

Figure 3.           Europe Acetonitrile Market Overview

Figure 4.           Solvent Acetonitrile Held Largest Share In The Europe Acetonitrile Market By Type

Figure 5.           Germany Dominated The Europe Acetonitrile Market In 2018

Figure 6.           Europe Acetonitrile Market, Industry Landscape

Figure 7.           Europe– Pest Analysis

Figure 8.           Acetonitrile Market Impact Analysis of Driver And Restraints

Figure 9.           Europe Acetonitrile Market Forecast and Analysis, (US$ Mn)

Figure 10.        Europe Acetonitrile Market Breakdown by Type, 2018 & 2027 (%)

Figure 11.        Europe Derivative Acetonitrile Revenue and Forecasts to 2027 (US$ Mn)

Figure 12.        Europe Solvent Acetonitrile Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 13.        Europe Acetonitrile Market Breakdown by Application, Value, 2018 & 2027 (%)

Figure 14.        Europe Pharmaceutical Acetonitrile Market Revenue and Forecasts To 2027 (US$ Mn)

Figure 15.        Europe Analytical Industry Acetonitrile Market Revenue and Forecasts To 2027 (US$ Mn)

Figure 16.        Europe Agrochemical Acetonitrile Market Revenue and Forecasts To 2027 (US$ Mn)

Figure 17.        Europe Extraction Acetonitrile Market Revenue and Forecasts To 2027 (US$ Mn)

Figure 18.        Europe Others Acetonitrile Market Revenue and Forecasts To 2027 (US$ Mn)

Figure 19.        Europe Acetonitrile Market Revenue and Forecasts To 2027 (US$ Mn)

Figure 20.        Europe Acetonitrile Market Breakdown by Key Countries, 2018 & 2027(%)

Figure 21.        Germany: Acetonitrile Market –Revenue and Forecast to 2027 (US$ Million)

Figure 22.        France: Acetonitrile Market –Revenue and Forecast to 2027 (US$ Million)

Figure 23.        Italy: Acetonitrile Market –Revenue and Forecast to 2027 (US$ Million)

Figure 24.        UK: Acetonitrile Market –Revenue and Forecast to 2027 (US$ Million)

Figure 25.        Russia: Acetonitrile Market –Revenue and Forecast to 2027 (US$ Million)

Figure 26.        Rest of Europe: Acetonitrile Market –Revenue and Forecast to 2027 (US$ Million)

Figure 27.        Impact of COVID-19 Pandemic In European Country Markets

 

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
  • Highlights key business priorities in order to assist companies to realign their business strategies.

  • The key findings and recommendations highlight crucial progressive industry trends in the Europe acetonitrile market, thereby allowing players to develop effective long term strategies.

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

  • Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.

  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
TIPRE00012090
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