“The acetonitrile market is projected to reach USD 277.1 million by 2031, at a CAGR of 4.8% ”
The acetonitrile market is projected to grow from 219.2 million in 2022 to USD 277.1 million by 2031, at a CAGR of 4.8% during the forecast period. Increased demand for recrystallization of drugs from the pharmaceutical industry is fueling the growth of the acetonitrile market across the globe. Moreover, flourishing analytical industry is also leading to the growth of the acetonitrile market. However, a limited number of direct production facilities across the globe acts as a restraint to the growth of the acetonitrile market.
“The derivative type segment of the acetonitrile market is projected to grow at the highest CAGR during the forecast period, in terms of value.”
Based on type, the acetonitrile market has been classified into derivative and solvent. In terms of value, the derivative type segment of the acetonitrile market is projected to grow at the highest CAGR . The growth of this segment of the market can be attributed increased use of acetonitrile in the pharmaceutical industry for manufacturing Vitamin B1 and sulfa pyrimidine. It is also used as a starting material for the synthesis of several chemicals such as alpha-naphthyl acetic acid, thiamine, acetophenone, and acetomidine.
“The Asia Pacific acetonitrile market is projected to grow at the highest CAGR , in terms of value.”
In terms of value, the Asia Pacific acetonitrile market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific acetonitrile market can be attributed to the increased use of acetonitrile in the pharmaceutical and analytical industry applications. The Asia Pacific region is the most promising market for acetonitrile, and this trend is projected to continue in the coming years as well. Japan, China, and India are the major consumers of acetonitrile in the Asia Pacific region.
Breakdown of Primary Profiles of Primary Participants
In the process of determining and verifying the size of several segments and subsegments of the acetonitrile market that was gathered through secondary research, extensive primary interviews have been conducted with the key industry personnel. The break-up of profiles of primary participants has been given below.
BREAKDOWN OF PROFILES OF PRIMARY PARTICIPANTS:
• By Company Type: Tier 1 – 35%, Tier 2 – 41%, and Tier 3 – 24%
• By Designation: C Level – 56%, Director Level – 28%, and Others – 16%
• By Region: Asia Pacific – 33%, North America – 27%, Europe – 20%, the Middle East & Africa – 13%, and Latin America – 7%
INEOS AG (Switzerland), Asahi Kasei Corporation (Japan), Nova Molecular Technologies (US), Formosa Plastics Corporation (Taiwan), Avantor Performance Materials LLC (US), and Imperial Chemical Corporation (Taiwan) are some of the leading companies operating in the acetonitrile market.
This report offers an overview of the trends, drivers, and barriers for the acetonitrile market. It also provides a detailed overview of the acetonitrile market across five regions, namely, Asia Pacific, North America, Europe, the Middle East & Africa, and Latin America. The report categorizes the acetonitrile market based on type, application, and region. A detailed profile analysis of the leading players of the acetonitrile market, along with key growth strategies adopted by them is also covered in this report.