According to the latest report by IMARC Group, titled “Acetonitrile Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global acetonitrile market reached a volume of 148.9 Kilo Tons in 2022. 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 197 Kilo Tons by 2028, exhibiting a CAGR of 4.7% during 2023-2028.
- 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.
|Base Year of the Analysis
||‘000 Tons, US$ Million
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||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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