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Global Pyridine Market to Reach US$ 904.6 Million by 2028, Impelled by Rising Demand from Pharmaceutical Sector

Published on Nov 22, 2022

According to the latest report by IMARC Group, titled "Pyridine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global pyridine market reached a value of US$ 663.6 Million in 2022. Pyridine is a chemical compound that is highly flammable in nature and characterized by a penetrating nauseating odor. Its structure is isoelectronic that contains nitrogen and carbon atoms, due to which it is miscible with water. It is a weak base compound, which is generally utilized as a reaction solvent in the production of food flavorings, vitamins, medicines, rubber products, dyes, paints, adhesives, herbicides and pesticides. It is commonly obtained from coal tar and bone pyrolyzates or synthesized using various chemicals, such as ammonia, acetaldehyde and tetrahydrofurfuryl alcohol. 

Global Pyridine Market Trends:

The global market is primarily driven by the growing product demand from the pharmaceutical industry. This is supported by the rising utilization of pyridine in the manufacturing of sulfapyridine, a drug that is used in the treatment of viral and bacterial infections. In line with this, the growing consumption of health supplements due to the increasing health consciousness and the rising prevalence of lifestyle diseases among individuals is creating a positive market outlook. Along with this, the widespread chemical adoption in the production of piperidine compound, that is mainly utilized as a raw material in rubber and agrochemical production, is propelling the pyridine market across the globe. Due to the escalating consumption of ready-to-eat and packaged foods among the masses, there has been a considerable increase in the demand for pyridine in the manufacturing of food additives. Other factors, including rapid industrialization, continual developments in the chemical sector and the growing investments by key players to conduct extensive research and development (R&D) activities, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 904.6 Million by 2028, exhibiting a CAGR of 5.5% during 2023-2028.

Market Summary:

  • On the basis of the product type, the market has been segmented into pyridine n-oxide, alpha picoline, gamma picoline, beta picoline, 2-methyl-5-ethylpyridine (MEP) and others. Among these, pyridine n-oxide holds the largest market share.
  • Based on the synthesis, the market has been classified into chemically synthesized and coal tar extracted pyridines.
  • On the basis of the end-use industry, the market has been bifurcated into agrochemicals, pharmaceuticals, chemicals, food and others. Presently, the agrochemical industry is dominating the total market share.
  • Based on the application, the market has been categorized into solvent, pesticides, rubber, medicines, paints and dyes, and others. 
  • On the basis of the region, the market has been divided into Asia Pacific, Europe, North America, the Middle East and Africa and Latin America. Currently, the Asia Pacific region holds the leading position in the market.
  • 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 the key players include Vertellus Holdings LLC, Red Sun Co. Ltd., Jubilant Life Sciences Ltd., Lonza Group Ltd., Resonance Specialties Limited, Shandong Luba Chemical Co., Ltd., Koei Chemical Company, Limited, Seidler Chemical Co, Inc., Weifang Sunwin Chemicals Co. Ltd., Novasyn Organics Pvt. Ltd., and Nippon Steel & Sumikin Chemical Co., Ltd.
     

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