Global Acetonitrile Market By Type (Derivative, Solvent), Application (Organic Synthesis, Specialty Chemicals, HPLC Solvents, Pharmaceutical, Extraction, DNA & RNA Synthesis, Others), End-User (Pharmaceutical Industry, Analytical Industry, Agricultural Industry, Others)
Market Analysis: Global Acetonitrile Market
Global Acetonitrile Market is expected to rise from its initial estimated value of USD 232.47 million in 2018 to an estimated value of USD 345.30 million by 2026, registering a CAGR of 5.07% in the forecast period of 2019-2026. This rise in market value can be attributed to the innovations and advancements in the methods of production, which has resulted in recycling of acetonitrile.
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Market Definition: Global Acetonitrile Market
Acetonitrile is known as a chemical compound, that is used in the production of various pharmaceuticals and as a solvent in high-performance liquid chromatography. It also finds its application as a raw material for the production of various end-use products. It is a colourless chemical compound with a sweet odour CH3CN.
Market Drivers:
• High growth and demand from pharmaceutical industry due to its use in drug recrystallization; this factor is expected to drive the market growth
• Increased demand for the product from the plastics manufacturers is driving the growth of the market
Market Restraints:
• Shortage in supply of the product increasing the price of the product which restrains the growth of the market
• Growth in adoption and preference of available substitutes to the product is expected to restrain the market growth
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Segmentation: Global Acetonitrile Market
• By Type
o Derivative
o Solvent
• By Application
o Organic Synthesis
o Specialty Chemicals
o High-Performance Liquid Chromatography (HPLC) Solvents
o Pharmaceutical
o Extraction
o Deoxyribonucleic Acid (DNA) & Ribonucleic Acid (RNA) Synthesis
o Others
• By End-User
o Pharmaceutical Industry
o Analytical Industry
o Agricultural Industry
o Others
Key Developments in the Market:
In October 2018, Mitsubishi Chemical Corporation announced that they had decided to absorb their subsidiary, “The Nippon Synthetic Chemical Industry Co., Ltd.”. The combined organisation will drive more profitable operations and expand the development of products
In August 2017, Robinson Brothers announced the launch of a new website for their company which will provide the visitor with enhanced user experience and provide them with detailed portfolio of the product offerings. The new website will enable the consumers to put in online enquiries for specific products offered by the company
Competitive Analysis: Global Acetonitrile Market
Global acetonitrile market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of acetonitrile market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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