According to the latest report by IMARC Group, titled “Acetonitrile Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global acetonitrile market size reached 113 Kilotons in 2018. Acetonitrile, also known as methyl cyanide or ethanenitrile, is a colorless, volatile, flammable and toxic solvent. It is the simplest organic nitrile and can be mixed with water along with most organic solvents. It also exhibits high miscibility with alcohol, acetone and epoxy resin without any interference with epoxy polymerization. It is used as an alternative to propylene oxide and ethanol in tissue processing for transmission electron microscopy (TEM) as it is safer and requires less time to dehydrate.
Global Acetonitrile Market Trends:
Manufacturers in the plastic industry use acetonitrile to obtain pure acrylonitrile and Acrylonitrile Butadiene Styrene (ABS) plastic which offers high tensile and impact strength, and optimal resistance against chemicals and various plasticizers. There has been an increase in the demand for ABS worldwide on account of growing infrastructural activities and rising need for lightweight vehicles. Moreover, aqueous acetonitrile is the preferred extraction solvent which is utilized in the agricultural sector to synthesize pesticide residues from agrarian samples. Apart from this, the escalating demand for acetonitrile is being supported by the rising popularity of the solvent in high-performance liquid chromatography which is an analytical chemistry technique used for separating, identifying and quantifying a component in a mixture. On account of these factors, the market is expected to grow at a CAGR of around 4% during 2019-2024, reaching a volume of 143 Kilotons by 2024.
- The market for acetonitrile has been segmented on the basis of the end use which includes pharmaceutical, analytical, agrochemical and extraction industries. Amongst these, acetonitrile is most commonly used in the pharmaceutical industry in the form of reaction solvent, reagent and extraction solvent.
- On a regional basis, Asia Pacific represents the largest market for acetonitrile, holding the majority of the total market share. This can be attributed to the increasing production of generic pharmaceuticals across the region. Other major markets include North America, Europe, Middle East and Africa, and Latin America.
- The competitive landscape has also been analyzed with some of the key players operating in the market being 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.
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