Acetonitrile Market Analysis:
Acetonitrile is a chemical compound, which is colorless, toxic, volatile, and flammable. It is the simplest organic nitrile, which can be combined with most of the organic solvents. It is produced as a byproduct of acrylonitrile manufacture and used as a polar aprotic solvent in the purification of butadiene. In addition, acetonitrile is widely used as a solvent in various industries such as pharmaceuticals, casting & molding of plastic materials, perfume production, extraction of fatty acids from animal & vegetable oil, and others. Moreover, acetonitrile is also used as a solvent in high-performance liquid chromatography. It is also used as a raw material for production in various industries and for synthesizing new medicines, pesticides, vitamin B1, and other products in the pharmaceutical industry. Therefore, these applications are expected to propel the market growth over the forecast period.
COVID-19 scenario analysis
The coronavirus outbreak has affected most of the industries due to low demand. The global lock down has created decrease in demand for most of the industries. The use of acetonitrile in the pharmaceutical industry is expected to boost the demand for the product significantly over the forecast period. Moreover, the pharmaceutical industry is fully operational even during the pandemic. The number of medicines required by COVID-19 positive patients is growing rapidly. Furthermore, the use of acetonitrile in the agriculture industry also propels the market growth as it is an essential requirement.
Market scenario analysis
Increased applications of acetonitrile in the pharmaceuticals industry and rise in demand for raw materials are the major factors that are expected to boost the market growth over the forecast period. Technological advancements and innovation in production methods have resulted in the recycling of acetonitrile. Moreover, the use of acetonitrile in plastic manufacturing is also expected to fuel the market growth over the forecast period. However, lack of supply, high price, and availability of more preferable substitutes for acetonitrile are expected to hinder the market growth over the forecast period.
Plastic manufacturers use acetonitrile to produce pure Acrylonitrile Butadiene Styrene (ABS), which offers high tensile and resistance to various plasticizers. The demand for ABS is increasing due to the development in the infrastructure sector and the rise in need for lightweight vehicles. Moreover, the use of acetonitrile in high-performance liquid chromatography is observed as a recent trend. Acetonitrile is used as a solvent in this technique of separating, identifying, and quantifying a component in a mixture. These factors are expected to boost the market growth over the forecast period.
Excessive human exposure to acetonitrile can cause damage to the digestive, cardiovascular, and central nervous system due to the formation of cyanide in the body. Further, fluctuation in prices of acetonitrile and shortage in supply are expected to hinder the acetonitrile market growth during the forecast period. Moreover, new substitutes for acetonitrile with increased efficiency and fewer drawbacks are expected to hinder the market growth.
By region, the global acetonitrile market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is the market leader in the global acetonitrile market due to growing pharmaceutical and chemical industries in the region. Furthermore, continuous R&D activities in the region for the development of new medicines and pesticides are also expected to boost the growth of the Asia-Pacific acetonitrile market. In addition, North America is also expected to grow significantly due to the increase in number of chemical industries.
Key benefits of the report:
- This study presents the analytical depiction of the acetonitrile market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the acetonitrile market share.
- The current market is quantitatively analyzed to highlight the acetonitrile market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the acetonitrile market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Acetonitrile Market Report Highlights
By End User
Key Market Players
Avantor Performance Materials, Dupont, International Inc, AnQore, AlzChem AG, CNPC Jilin Chemical Corporation Limited, Nova Molecular Technologies, Asahi Kasei Medical Company Limited, Honeywell, INEOS, Imperial Chemical Corporation