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Acetonitrile Market

Acetonitrile Market By End Use Industry (Pharmaceutical Industry, Analytical Industry), Application (Pharmaceutical Applications, Organic Synthesis, Specialty Chemicals, Extraction, HPLC Solvents, DNA & RNA Synthesis) & Region - Forecast 2022 - 2032

Market Insights on Acetonitrile covering sales outlook, demand forecast & up-to-date key trends

Acetonitrile Market Overview

Global Acetonitrile Market demand is anticipated to be valued at US$ 277 Million in 2022, forecast to grow at a CAGR of 5.5% to be valued at US$ 473 Million from 2022 to 2032. The growth of the Acetonitrile market is attributed to its utilization across the pharmaceutical, analytical industries.

Report Attribute

Details

Estimated Base Year Value (2021)

US$ 264 Million

Expected Market Value (2022)

US$ 277 Million

Anticipated Forecast Value (2032)

US$ 473 Million

Projected Growth Rate (2022-2032)

5.5% CAGR

Acetonitrile, often abbreviated MeCN, is the chemical compound with the formula CH?CN. This colorless liquid is the simplest organic nitrile. It is produced mainly as a byproduct of acrylonitrile manufacture. It is used as a polar aprotic solvent in organic synthesis and in the purification of butadiene.

Asia Pacific is considered to be a dominant region for acetonitrile and derived its products, owing to the rising production of generic pharmaceuticals, engineered drugs, and pesticides in the region.

The major factor that is expected to propel the growth of the Acetonitrile Market during the forecast period include the strong demands for acetonitrile from end-use industries like pharmaceutical manufacturing, biotechnological applications, electronics, specialty chemicals, and HPLC applications.

Simultaneously, the increasing prices of acetonitrile is one of the major factors that is expected to hamper the growth of the acetonitrile market during the forecast period.

Which are Some Prominent Drivers Spearheading Acetonitrile Market Growth?

Increasing use of acetonitrile in pharmaceutical and analytical industry applications is one of the major factors driving the growth of the acetonitrile market across the globe. Moreover, flourishing pharmaceutical industry across the globe, along with increased use of acetonitrile in the analytical industry is expected to drive the growth of the acetonitrile market during the forecast period.

Further, the growing adoption of the compound in the pharmaceutical industry, predominantly as a solvent, to cast and mold plastic materials, and extract fatty acids from animals and vegetable oils, is expected to boost the market growth. Moreover, its escalating usage in the development of personal care and cosmetic products, including perfumes and acrylic nail removers, will also fuel the acetonitrile extraction activities in the upcoming years.

Acetonitrile grades are widely used in extractive distillation and separation of C4-hydrocarbons and olefin-diolefin mixtures across the petrochemical sector. Thus, the rapid expansion of the pharmaceutical and petrochemical industries is one of the major factors strengthening the acetonitrile market during the forecast period.

In addition, growing demand for acetonitrile products such as acrylic fibers, polyacrylamide, and acrylic plastics is a major factor that is expected to accelerate the growth of the market during the forecast period.

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What are the Challenges Faced by the Acetonitrile Industry?

Although the Acetonitrile has numerous end uses, the ever increasing prices of acetonitrile, as well as the shortage in supply is expected to hamper the growth of the global Acetonitrile Market during the forecast period. In addition, alternatives such as solvents used in the pharmaceutical and analytical industries also possess a threat to the growth of the global acetonitrile market. Acetonitrile can be hazardous to human health on prolonged exposure.

Moreover, the volatility in its supply, along with its relatively poor environmental profile, has asserted a negative influence on its use across laboratories and manufacturing processes over the past years, which in turn acts as a hindrance factor for the market.

Which region is Emerging as an Opportunistic Acetonitrile Market?

Asia Pacific is the largest market for Acetonitrile and the trend is expected to continue into the forecast period owing to the rapidly rising production of generic pharmaceuticals, engineered drugs, and pesticides in the region. The Asia Pacific acetonitrile market is anticipated to grow at the highest CAGR during the forecast period.

Moreover, the continuously increasing population and growing number of end-use industries in the region (especially in China and India) have also led to increased demand for acetonitrile in the Asia Pacific region. This, in turn, is fueling the growth of the Asia Pacific acetonitrile market. In addition, continuous R&D activities being carried out in the region for the development of new medicines and pesticides are also fueling the growth of the Asia Pacific acetonitrile market.

Nikhil Kaitwade
Principal Consultant
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How is North America Contributing to Growth of the Acetonitrile Market?

According to Future Market Insights, North America is expected to provide immense growth opportunities for Industrial Diamond, with the US expected to steer the bulk of all regional growth. The US is one of the major producers of Acetonitrile.

Several domestic and international Acetonitrile companies have a strong foothold in North America. In the region, the US is a major market for acetonitrile, followed by Canada and Mexico, respectively. The region largely supports the growth of the acetonitrile market through effective manufacture and trade policies. The solvent is produced mainly as the byproduct of acrylonitrile manufacture.

Market Competition

Some of the key participants present in the global Acetonitrile market include Filo Chemical, NeuChem, Continental Industries Group, Achemica, GFS Inc., Sterling Chemicals, DuPont, CNPC Jilin Chemical, Asahi Kasei Medical Company Limited, Nova Molecular Technologies, BP Chemicals, AlzChem AG, Purification Technologies, Inc., J.T. Baker Chemicals, and AnQore, among others.

Attributed to the presence of such high number of participants, the market is highly competitive. While global players such as Filo Chemical and NeuChem account for a considerable market size, several regional level players are also operating across key growth regions, particularly in the Asia Pacific.

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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 5.5% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • End Use Industry
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • Filo Chemical
  • NeuChem
  • Continental Industries Group
  • Achemica
  • GFS Inc.
  • Sterling Chemicals
  • DuPont
  • CNPC Jilin Chemical
  • Asahi Kasei Medical Company Limited
  • Nova Molecular Technologies
  • BP Chemicals
  • AlzChem AG
  • Purification Technologies, Inc.
  • J.T. Baker Chemicals

Customization

Available Upon Request

Key Segments Profiled in the Acetonitrile Industry Survey

End Use Industry:

  • Acetonitrile for the Pharmaceutical Industry
  • Acetonitrile for the Analytical Industry
  • Acetonitrile for Other End Use Industries

Application:

  • Acetonitrile for Pharmaceutical Applications
  • Acetonitrile for Organic Synthesis
  • Acetonitrile for Specialty Chemicals
  • Acetonitrile for Extraction
  • Acetonitrile for HPLC Solvents
  • Acetonitrile for DNA & RNA Synthesis

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

Frequently Asked Questions

FMI projects the global Acetonitrile Market to expand at a 5.5% value CAGR by 2032

Asia Pacific is expected to be the most opportunistic acetonitrile market, from 2022 to 2032

Filo Chemical, NeuChem, Continental Industries Group, Achemica, GFS Inc., Sterling Chemicals and DuPont are some key acetonitrile manufacturers

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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