Report Code: A07380 | Nov 2023 | Pages: NA | ||
Tables: NA | Charts: NA |
|
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Acetonitrile Market
Request Now !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.
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:
Questions answered in the acetonitrile market research report:
Acetonitrile Market: Global Opportunity Analysis and Industry Forecast, 2020-2027 Report Highlights
Aspects | Details |
---|---|
By Type |
|
By Application |
|
By End User |
|
By Region |
|
Key Market Players | AnQore, Honeywell, AlzChem AG, Avantor Performance Materials, Asahi Kasei Medical Company Limited, CNPC Jilin Chemical Corporation Limited, Imperial Chemical Corporation, Dupont, International Inc, INEOS, Nova Molecular Technologies |
Start reading.
This Report and over 68,150+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers