As per the latest report by IMARC Group titled, “Acetonitrile Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global acetonitrile market reached a volume of 142 Kilotons in 2021. Acetonitrile is a colorless, toxic, volatile, and flammable chemical compound produced as a byproduct during acrylonitrile manufacturing. It is the simplest organic nitrile that can be mixed with water and most organic solvents. It also exhibits high miscibility with alcohol, acetone and epoxy resin without interference with epoxy polymerization. As a result, it finds extensive applications in pharmaceuticals, casting and molding of plastic materials, perfume production, and extracting fatty acids from animal and vegetable oil.
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Global Acetonitrile Market Trends:
The market is primarily driven by the increasing demand for acrylonitrile butadiene styrene (ABS) plastic worldwide due to the growing infrastructural activities and the rising need for lightweight vehicles. Acetonitrile is widely used in the plastic industry to obtain pure acrylonitrile and ABS plastic, which offers high tensile and impact strength, and optimal resistance against chemicals and various plasticizers. In addition, aqueous acetonitrile is the preferred extraction solvent utilized in the agricultural sector to synthesize pesticide residues from agrarian samples. Besides this, the rising preference for acetonitrile in high-performance liquid chromatography, an analytical chemistry technique for separating, identifying, and quantifying a component in a mixture, is positively influencing the market growth. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.8% during the forecast period (2022-2027).
- The market for acetonitrile has been segmented on the basis of the end-use into pharmaceuticals, analytical, agrochemicals and extraction industries. Amongst these, the pharmaceutical industry accounts for the majority of the total global consumption.
- Region-wise, Asia Pacific holds the largest market share, followed by North America and Europe. Other major regions include 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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