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- Global Acetonitrile Market
Global Acetonitrile Market to Reach 226.3 Kilo Tons by 2032, Impelled by Rising Industrial Applications
July 08, 2022
| Chemical & Materials
According to the latest report by IMARC Group, titled “Acetonitrile Market Report by End-Use (Pharmaceuticals, Analytical Industry, Agrochemicals, Extraction Industry, and Others), and Region 2024-2032," the global acetonitrile market reached a volume of 155.8 Kilo Tons in 2023. Acetonitrile, also known as ethanenitrile and methyl cyanide, is a highly volatile, colorless, and flammable liquid with an ether-like odor. It is produced in the form of acrylonitrile and is used as an aprotic solvent in natural synthesis and butadiene refinement. Acetonitrile is also widely used in acrylic nail removers, batteries, and perfumes and as a medium-polarity solvent. Besides this, it exhibits high chemical stability and eluting power and is compatible with liquid chromatography-mass spectrometry (LC/MS) solutions. As compared to methanol, acetonitrile reacts endothermically with water and has a higher elution strength.
Global Acetonitrile Market Trends:
The significant growth in the pharmaceutical industry across the globe is creating a positive outlook for the market. Acetonitrile is widely used to synthesize carbonate drugs and as a solvent in the production of antibiotics, tertiary-generation cephalosporins, and deoxyribonucleic acid (DNA) synthesis. Additionally, increasing product demand in the automotive industry for producing acrylonitrile butadiene styrene (ABS) plastic with enhanced chemical resistance and mechanical strength is favoring the market growth. Apart from this, the development of aqueous acetonitrile and high-performance liquid chromatography (HPLC) and their extensive application in the agrochemicals and analytical industries to synthesize pesticides and fertilizers is providing an impetus to the market growth. Other factors, including the escalating usage of the compound in personal care and cosmetic products and the rising application of acetonitrile to extract oleochemicals, such as fatty acids from animal and vegetable oils in laboratories, are supporting the market growth. On account of the aforementioned factors, the market size is expected to reach a volume of 226.3 Kilo Tons by 2032, exhibiting a CAGR of 4.1% during 2024-2032.
Market Summary:
- On the basis of the end use, the market has been classified into pharmaceuticals, analytical industry, agrochemicals, extraction industry, and others. Amongst these, pharmaceutical industry represents the biggest end-user.
- Based on region, the market is dominated by Asia Pacific. Other major regions include North America, Europe, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Ineos AG, Asahi Kasei Corporation, Formosa Plastic Corporation, Imperial Chemical Corporation, Nova Molecular Technologies, Inc, Tedia Company, Inc, Avantor Performance Materials, LLC, Shanghai Secco Petrochemical Company Limited, Qingdao Shida Chemical Co., Ltd., Nantong Acetic Acid Chemical Co., Ltd. and Taekwang Industrial Co., Ltd.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | ‘000 Tons, US$ Million |
| Segment Coverage | End-Use, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | Ineos AG, Asahi Kasei Corporation, Formosa Plastic Corporation, Imperial Chemical Corporation, Nova Molecular Technologies, Inc, Tedia Company, Inc, Avantor Performance Materials, LLC, Shanghai Secco Petrochemical Company Limited, Qingdao Shida Chemical Co., Ltd., Nantong Acetic Acid Chemical Co., Ltd. and Taekwang Industrial Co., Ltd |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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