Acetonitrile Market by Application and Geography - Forecast and Analysis 2021-2025

The acetonitrile market share is expected to increase by 36.07 thousand tonn from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.65%.

This acetonitrile market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers acetonitrile market segmentation by application (pharmaceuticals, analytical chemistry, agrochemicals, and others) and geography (North America, Europe, APAC, South America, and MEA). The acetonitrile market report also offers information on several market vendors, including AnQore, Asahi Kasei Corp., Avantor Inc., GFS Chemicals Inc., Honeywell International Inc., Imperial Chemical Corp., INEOS Group Holdings SA, Mil-Spec Industries Corp., Runa Chemicals Pvt. Ltd., and Spectrum Chemical Manufacturing Corp. among others.

What will the Acetonitrile Market Size be During the Forecast Period?

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Acetonitrile Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The high consumption of acetonitrile in the pharmaceutical industry is notably driving the acetonitrile market growth, although factors such as increasing substitute products may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the acetonitrile industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Acetonitrile Market Driver

The high consumption of acetonitrile in the pharmaceutical industry is one of the key factors driving the growth of the global acetonitrile market. In 2020, the pharmaceutical application segment held the major share of revenue in the global acetonitrile market. The popularity of acetonitrile in the pharmaceutical industry is because it is used as a reaction and purification solvent, in the synthesis of organic compounds, extraction and separation solvent, raw material for analytical reagent, high purity analytical reagent, solvent for the non-aqueous reaction. Moreover, India and China are the major consumers of acetonitrile as they are used in the production of generic drugs. The presence of a large number of pharmaceutical companies in India and China is fueling the demand for acetonitrile. The consumption rate of acetonitrile in APAC is high due to its easy availability. The pharmaceutical industry is growing globally. The Americas and Europe consist of a large consumer base for branded drugs. Pharmaceutical companies are investing highly in R&D for producing innovative and advanced branded drugs targeting consumers in the developed countries of the Americas and Europe. The growing pharmaceutical industry bolsters the demand for acetonitrile.

Key Acetonitrile Market Trend

The new production method for acetonitrile will fuel the global acetonitrile market growth. Acetonitrile is mainly produced as a byproduct during the acrylonitrile manufacturing process. This method gives satisfactory volumes of acetonitrile but has its drawbacks. One of the drawbacks is the fluctuation in the price of crude oil, which impacts the prices of naphtha, acrylonitrile, and acetonitrile. According to The Royal Society of Chemistry journal, a paper titled, An alternative pathway for the production of acetonitrile: ruthenium-catalyzed aerobically proposed an option of producing acetonitrile from ethanol or bioethanol via ethylamine. Ethylamine is an organic compound (CH3CH2NH2) and is miscible with all solvents. Various methods can be employed to produce ethylamine. The most common method involves the reaction of ethanol and ammonia in the presence of an oxide catalyst to yield ethylamine, along with dimethylamine and triethylamine. Moreover, the paper emphasized the use of atmospheric oxygen as an oxidant for the production of nitriles from amines, as the only side-product in this process would be H2O. Such commercial production of acetonitrile via sustainable resources is a positive sign for the growth of the global acetonitrile market.

Key Acetonitrile Market Challenge

Increasing substitute products is a major challenge for global acetonitrile market growth. Acetonitrile is undoubtedly a very useful product, especially as a solvent. The application of acetonitrile in HPLC systems has the second-largest share in the global acetonitrile market. However, other alternative HPLC-grade solvents such as solvents 1,2-dichloroethane, 1,2-dimethoxyethane, benzonitrile, chlorobenzene, and others can be used in place of acetonitrile. Moreover, Acetone is another substitute product for acetonitrile. Acetone substitutes acetonitrile in many companies as it is cheaper and has the same properties as that of acetonitrile. It is used in the separation of a peptide mixture for HPLC like acetonitrile. Another application of acetonitrile is butadiene extraction. One of the production methods of butadiene is the extraction from C4 hydrocarbons. Butadiene is obtained as a byproduct, along with a complex mixture of unsaturated hydrocarbons, in the steam cracking process of ethylene and other alkenes. Such, rising substitutes of acetonitrile in different applications is a big challenge for the global acetonitrile market.

This acetonitrile market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

The global acetonitrile market is a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the acetonitrile market during the forecast period.

Who are the Major Acetonitrile Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• AnQore
• Asahi Kasei Corp.
• Avantor Inc.
• GFS Chemicals Inc.
• Honeywell International Inc.
• Imperial Chemical Corp.
• INEOS Group Holdings SA
• Mil-Spec Industries Corp.
• Runa Chemicals Pvt. Ltd.
• Spectrum Chemical Manufacturing Corp.

 

This statistical study of the acetonitrile market encompasses successful business strategies deployed by the key vendors. The acetonitrile market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• AnQore - The company offers acetonitrile that is mainly utilized in process and extraction solvent in pharmaceuticals, agricultural chemicals, laboratory (HPLC), butadiene extraction, and in the production of intermediates

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The acetonitrile market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Acetonitrile Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the acetonitrile market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global commodity chemicals market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Acetonitrile Market?

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61% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for acetonitrile market in APAC. Market growth in this region will be slower than the growth of the market in regions.

The high consumption of acetonitrile in the pharmaceutical industry will facilitate the acetonitrile market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 affected the growth of the global acetonitrile market in 2020. To mitigate the risk of COVID-19, mandate lockdowns were imposed globally in 2020, which restricted business activities and hampered the economy of countries worldwide. However, in 2021, the initiation of large-scale vaccination drives has lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to drive the market during the forecast period.

What are the Revenue-generating Application Segments in the Acetonitrile Market?

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The acetonitrile market share growth by the pharmaceuticals segment will be significant during the forecast period. Acetonitrile finds application in various industries, especially in the pharmaceutical industry. In the pharmaceutical industry, acetonitrile is used as a reagent, intermediate, starting material (raw material), reaction solvent, or extraction solvent. Due to this the demand for market in focus will increase during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the acetonitrile market size and actionable market insights on post COVID-19 impact on each segment.

Acetonitrile Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 5.65%
Market growth 2021-2025	$ 36.07 th
Market structure	Fragmented
YoY growth (%)	5.37
Regional analysis	APAC and North America
Performing market contribution	APAC at 61%
Key consumer countries	China, India, US, Japan, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	AnQore, Asahi Kasei Corp., Avantor Inc., GFS Chemicals Inc., Honeywell International Inc., Imperial Chemical Corp., INEOS Group Holdings SA, Mil-Spec Industries Corp., Runa Chemicals Pvt. Ltd., and Spectrum Chemical Manufacturing Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Acetonitrile Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive acetonitrile market growth during the next five years
• Precise estimation of the acetonitrile market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the acetonitrile industry across APAC and North America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of acetonitrile market vendors

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