According to ChemAnalyst report, “Global Acetonitrile Market Analysis: Plant Capacity, Production, Process, Operating Efficiency, Demand & Supply, End-Use, Grade, Foreign Trade, Sales Channel, Regional Demand, Company Share, 2015-2030”, The Acetonitrile market is likely to experience to grow at a CAGR of 3.79% in the forecast period by 2030. In the upcoming years, the market for Acetonitrile is anticipated to grow due to rising demand from end-use industries such as Pharmaceuticals, HPLC Solvents, Extraction (DNA & RNA synthesis), and Speciality chemicals (agro chemicals etc). Acetonitrile is an excellent solvent and widely employed for manufacturing drugs.
Acetonitrile is a chemical compound with formula CH₃CN. It is colourless, flammable, and volatile chemical. It is the most basic organic nitrile which is toxic in nature. This chemical is compatible with the majority of organic solvents. It is produced as a by-product of the production of acrylonitrile. Although, Ammoxidation process is the most commonly employed process for synthesizing Acetonitrile. Acetonitrile is employed as a polar aprotic solvent in the purification of butadiene. It is used to manufacture pesticides as well. Its applications include for manufacturing pharmaceuticals, plastics casting and moulding, fragrance, vegetable and animal oil fatty acid extraction, and other industries.
Moreover, globally, the increase in demand for Acetonitrile is majorly due to its properties such as solubility and flammability. It is widely used as a solvent in pharmaceuticals. Cortisone, Vitamins A and B, carbonate medicines, and certain amino acids are synthesized using acetonitrile as a precursor. The Pharmaceuticals Industry is the biggest end-user market of Acetonitrile, holding a share of about 70% of the market share in 2021. In the coming times, the growth in demand for drugs and medicines is anticipated to propel the demand for Acetonitrile in the forecast period. Furthermore, the utilization of Acetonitrile as a solvent for the synthesis of a wide range of chemicals, including acetamide, acetaldehyde, acetic acid, and more, is anticipated to further fuel the demand for Acetonitrile in the forecast period. Its usage for High Performance Liquid Chromatography (HPLC) is also an impressive application. With rapid technological advancements in HPLC, the technique has gained prominence in analytical industry, is expected to push up the overall Acetonitrile demand.
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The Acetonitrile market is segmented based on grade, end-use, sales channel, and region. Based on grade, the market is bifurcated into Acetonitrile market is segregated into Chemical grade/Reagent grade and HPLC grade. Based on end-uses, the Acetonitrile market is segregated into Pharmaceuticals, HPLC Solvents, Extraction (DNA & RNA synthesis), and Speciality chemicals (agro chemicals etc). The highest demand for Acetonitrile is in the Pharmaceuticals industry, followed by the HPLC Solvents industry.
Asia Pacific is the leading consumer of Acetonitrile among all other regions. The application of Acetonitrile as a solvent for manufacturing medicines is the primary driver of the growing demand for Acetonitrile in this region. Moreover, Asia Pacific is also the leading producer of Acetonitrile on the global level.
“Global Acetonitrile Market Analysis: Plant Capacity, Production, Process, Operating Efficiency, Demand & Supply, End-Use, Grade, Foreign Trade, Sales Channel, Regional Demand, Company Share, 2015-2030”, the significant players functional in the Acetonitrile market include Ineos AG, Asahi Kasei Corporation, Jilin Petrochemical Company, Shanghai SECCO Petrochemical Company Limited, Nantong Acetic Acid Chemical Co., Ltd, Balaji Amines, AnQore, Jiangsu Sailboat Petrochemical Co., Ltd, Sinopec Anqing Company, Formosa Plastics Corporation, Shandong Shida Hongyi Chemical Co., Ltd, Zibo Jinma Chemical Factory, and Hebi Saike Chemical Co., Ltd.
“The rapidly increasing demand for Acetonitrile as a mobile solvent for High Performance Liquid Chromatography (HPLC) coupled with its demand of solvent in pharmaceuticals is expected to boost the Acetonitrile market in the forecast period until 2030. Due to soluble nature of Acetonitrile, it finds its application in the manufacture of multiple chemicals which is anticipated to boost the Acetonitrile demand in the forecast period. ” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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