Acetonitrile Market by Type (Derivative, Solvent), Application (Organic Synthesis, Analytical Applications, Extraction), End-use Industry (Pharmaceutical, Analytical industry, Agrochemical), Region - Global Forecast to 2028
The acetonitrile market is projected to grow from USD 439 million in 2023 to USD 595 million by 2028 at a CAGR of 6.2%. Expansions in current applications, cost-effectiveness, Innovations, emerging applications, and value-chain optimizations are some of the key factors driving the growth of the market. The acrylonitrile-acetonitrile by-product relationship is one of the restraining factors that hamper the growth of the market.
''The derivative segment is the fastest-growing type segment of acetonitrile in terms of value and volume.''
Based on type, the acetonitrile market has been segmented into derivative and solvent. As a derivative, acetonitrile is widely used in the pharmaceutical industry for the manufacturing of Vitamin B1 and sulfa pyrimidine. The increasing use of acetonitrile as a derivative or raw material in pharmaceutical applications is the major factor driving the growth of the derivative acetonitrile segment. The acetonitrile market is majorly driven by the rise in demand from the pharmaceutical and analytical industries across the globe.
"'The analytical applications to lead the acetonitrile application segment in 2022.''
The analytical applications segment accounted for the largest market share in terms of value in 2022. Acetonitrile is widely used in analytical applications such as standard preparations, electrochemistry, sample preparations, chromatography solvents, and many more. It can also be used for crystallization and purification processes in the laboratories. Analytical applications is one the largest application type covering all major end-use industries of acetonitrile.
''The pharmaceutical segment is the fastest-growing end-use industry segment of acetonitrile in terms of both value and volume.''
Based on the end-use industry, the pharmaceutical segment is expected to show the highest growth rate during forecasted years. Government initiatives for the growth of the pharmaceutical industry and increasing the use of acetonitrile in various applications are the major factors driving the acetonitrile market. It is the most versatile and cost-effective organic nitrile chemical and is widely used in the pharmaceutical industry across the world.
"Europe region has the second largest share in the acetonitrile during the forecast period."
Europe is the second-largest market for acetonitrile in the world. Germany, France, and the UK are the leading markets for acetonitrile in the region. The demand for acetonitrile in the region is driven by Western European countries such as Germany, the UK, and France due to a high focus on pharmaceutical and biotechnological research. The growth of the European pharmaceutical market can be attributed to innovations in oncology and the development of medical drugs for chronic heart failure, rheumatoid arthritis, and Alzheimer's, as acetonitrile is used in medicinal drugs.
This study has been validated through primary interviews with industry experts globally. These primary sources have been divided into the following three categories:
By Company Type- Tier 1- 37%, Tier 2- 33%, and Tier 3- 30%
By Designation- C Level- 33%, Director Level- 27%, Executives- 30% and Others- 10%
By Region- North America- 22%, Europe- 40%, Asia Pacific - 20%, Latin America- 3%, Middle East & Africa- 15%
The report provides a comprehensive analysis of company profiles:
Prominent companies in the acetonitrile market include INEOS AG (Switzerland.), Asahi Kasei Corporation (Japan), Nova Molecular Technologies (US), PetroChina Co. Ltd. (China), Formosa Plastic Corporation (Taiwan), ShengHong Petrochemical Group Co., Ltd. (China), Avantor Performance Materials LLC (US), Imperial Chemical Corporation (Taiwan), Tedia Company Inc. (US), Avantor Performance Materials, LLC (US), Shanghai Secco Petrochemical Company Limited (China), Qingdao Shida Chemical Co., Ltd. (China), Nantong Acetic Acid Chemical Co., Ltd. (China), and others.
Research Coverage
This report covers the global acetonitrile market and forecasts the market size until 2028. It includes the following market segmentation- Type (Derivative, Solvent), Application (Organic Synthesis, Analytical Applications, Extraction, and Others), End-use Industry (Pharmaceutical, Analytical Industry, Agrochemical, and Others), and Region (North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America).
Porter's Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global acetonitrile market.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall acetonitrile market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (High demand for acetonitrile for drug recrystallization), restraints (Increasing demand for other substitute products like prionil), opportunities (Increasing applications in multiple end-use industries), and challenges (requirement of technically strong and skilled laborers) influencing the growth of the acetonitrile market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the acetonitrile market
Market Development: Comprehensive information about lucrative markets - the report analyses the acetonitrile market across varied regions.
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the acetonitrile market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like INEOS AG, Asahi Kasei Corporation, Formosa Plastic Corporation, Imperial Chemical Corporation, Nova Molecular Technologies, Inc., Tedia Company, Inc., PetroChina Co. Ltd., Shanghai Secco Petrochemical Company Limited, Avantor Performance Materials, LLC, Ltd. Nantong Acetic Acid Chemical Co., Ltd., Alkyl Amines Chemicals Ltd., Balaji Amines Ltd. among others in the acetonitrile market.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS & EXCLUSIONS
1.3 MARKET SCOPE
FIGURE 1 ACETONITRILE MARKET SEGMENTATION
1.3.1 REGIONS COVERED
1.3.2 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 UNITS CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH APPROACH
FIGURE 2 ACETONITRILE MARKET: RESEARCH DESIGN
2.2 BASE NUMBER CALCULATION
2.2.1 APPROACH 1: SUPPLY-SIDE ANALYSIS
2.2.2 APPROACH 2: DEMAND-SIDE ANALYSIS
2.3 IMPACT OF RECESSION
FIGURE 3 MAJOR FACTORS RESPONSIBLE FOR GLOBAL RECESSION AND THEIR IMPACT ON ACETONITRILE MARKET
2.4 FORECAST NUMBER CALCULATION
2.4.1 SUPPLY SIDE
2.4.2 DEMAND SIDE
2.5 RESEARCH DATA
2.5.1 SECONDARY DATA
2.5.1.1 Key data from secondary sources
2.5.2 PRIMARY DATA
2.5.2.1 Key data from primary sources
2.5.2.2 Interviews with experts from top acetonitrile manufacturers
TABLE 238 ARGENTINA: ACETONITRILE MARKET, BY END-USE INDUSTRY, 2023-2028 (KILOTON)
9.6.5.4 Rest of Latin America
9.6.5.4.1 Rest of Latin America: Acetonitrile market, by end-use industry
TABLE 239 REST OF LATIN AMERICA: ACETONITRILE MARKET, BY END-USE INDUSTRY, 2018-2022 (USD MILLION)
TABLE 240 REST OF LATIN AMERICA: ACETONITRILE MARKET, BY END-USE INDUSTRY, 2018-2022 (KILOTON)
TABLE 241 REST OF LATIN AMERICA: ACETONITRILE MARKET, BY END-USE INDUSTRY, 2023-2028 (USD MILLION)
TABLE 242 REST OF LATIN AMERICA: ACETONITRILE MARKET, BY END-USE INDUSTRY, 2023-2028 (KILOTON)
10 COMPETITIVE LANDSCAPE
10.1 INTRODUCTION
10.2 MARKET SHARE ANALYSIS
FIGURE 42 SHARES OF TOP COMPANIES IN ACETONITRILE MARKET
TABLE 243 DEGREE OF COMPETITION: ACETONITRILE MARKET
10.3 MARKET RANKING
FIGURE 43 RANKING OF TOP FIVE PLAYERS IN ACETONITRILE MARKET
10.4 REVENUE ANALYSIS OF TOP MARKET PLAYERS
10.5 COMPANY PRODUCT FOOTPRINT
TABLE 244 COMPANY PRODUCT FOOTPRINT
10.6 COMPANY TYPE FOOTPRINT
TABLE 245 COMPANY TYPE FOOTPRINT
10.7 COMPANY APPLICATION FOOTPRINT
TABLE 246 COMPANY APPLICATION FOOTPRINT
10.8 COMPANY END-USE INDUSTRY FOOTPRINT
TABLE 247 COMPANY END-USE INDUSTRY FOOTPRINT
10.9 COMPANY REGION FOOTPRINT
TABLE 248 COMPANY REGION FOOTPRINT
10.10 COMPANY EVALUATION MATRIX FOR KEY PLAYERS
10.10.1 STARS
10.10.2 PERVASIVE PLAYERS
10.10.3 PARTICIPANTS
10.10.4 EMERGING LEADERS
FIGURE 44 ACETONITRILE MARKET (GLOBAL): COMPANY EVALUATION MATRIX, 2022
10.11 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
TABLE 249 ACETONITRILE MARKET: KEY STARTUPS/SMES
TABLE 250 ACETONITRILE MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
10.12 COMPANY EVALUATION MATRIX FOR STARTUPS/SMES
10.12.1 PROGRESSIVE COMPANIES
10.12.2 RESPONSIVE COMPANIES
10.12.3 DYNAMIC COMPANIES
10.12.4 STARTING BLOCKS
FIGURE 45 ACETONITRILE MARKET: SMALL AND MEDIUM-SIZED ENTERPRISES MAPPING, 2022
10.13 COMPETITIVE SCENARIO
TABLE 251 ACETONITRILE MARKET: DEALS, 2018-2023
TABLE 252 ACETONITRILE MARKET: OTHERS, 2018-2023
11 COMPANY PROFILES
(Business overview, Products/Solutions/Services offered, Recent Developments, MNM view, Right to win, Strategic choices, Weaknesses and competitive threats)**
11.1 KEY COMPANIES
11.1.1 INEOS AG
TABLE 253 INEOS AG: COMPANY OVERVIEW
FIGURE 46 INOES AG: COMPANY SNAPSHOT
11.1.2 ASAHI KASEI CORPORATION
TABLE 254 ASAHI KASEI CORPORATION: COMPANY OVERVIEW
FIGURE 47 ASAHI KASEI CORPORATION: COMPANY SNAPSHOT
11.1.3 FORMOSA PLASTIC CORPORATION
TABLE 255 FORMOSA PLASTIC CORPORATION: COMPANY OVERVIEW
FIGURE 48 FORMOSA PLASTIC CORPORATION: COMPANY SNAPSHOT
11.1.4 IMPERIAL CHEMICAL CORPORATION
TABLE 256 IMPERIAL CHEMICAL CORPORATION: COMPANY OVERVIEW
11.1.5 PETROCHINA CO. LTD.
TABLE 257 PETROCHINA CO. LTD.: COMPANY OVERVIEW
FIGURE 49 PETROCHINA CO. LTD: COMPANY SNAPSHOT
11.1.6 SHENGHONG PETROCHEMICAL GROUP CO., LTD
TABLE 258 SHENGHONG PETROCHEMICAL GROUP CO., LTD.: COMPANY OVERVIEW
11.1.7 NOVA MOLECULAR TECHNOLOGIES, INC.
TABLE 259 NOVA MOLECULAR TECHNOLOGIES, INC.: COMPANY OVERVIEW
11.1.8 TEDIA COMPANY, INC.
TABLE 260 TEDIA COMPANY, INC.: COMPANY OVERVIEW
11.1.9 AVANTOR PERFORMANCE MATERIALS, LLC
TABLE 261 AVANTOR PERFORMANCE MATERIALS, LLC: BUSINESS OVERVIEW
FIGURE 50 AVANTOR PERFORMANCE MATERIALS, LLC: COMPANY SNAPSHOT
11.1.10 SHANGHAI SECCO PETROCHEMICAL COMPANY LIMITED
TABLE 262 SHANGHAI SECCO PETROCHEMICAL COMPANY LIMITED: BUSINESS OVERVIEW
11.1.11 QINGDAO SHIDA CHEMICAL CO., LTD.
TABLE 263 QINGDAO SHIDA CHEMICAL CO., LTD.: BUSINESS OVERVIEW
11.1.12 NANTONG ACETIC ACID CHEMICAL CO., LTD.
TABLE 264 NANTONG ACETIC ACID CHEMICAL CO., LTD.: BUSINESS OVERVIEW
11.1.13 ALKYL AMINES CHEMICAL CO., LTD.
TABLE 265 ALKYL AMINES CHEMICAL CO., LTD.: BUSINESS OVERVIEW
FIGURE 51 ALKYL AMINES CHEMICAL CO., LTD.: COMPANY SNAPSHOT
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MNM view, Right to win, Strategic choices, Weaknesses and competitive threats might not be captured in case of unlisted companies.
11.2 OTHER COMPANIES
11.2.1 BALAJI AMINES LTD.
TABLE 266 BALAJI AMINES LTD.: COMPANY OVERVIEW
11.2.2 TAEKWANG INDUSTRIAL CO., LTD.
TABLE 267 TAEKWANG INDUSTRIAL CO., LTD. COMPANY OVERVIEW
11.2.3 CONNECT CHEMICALS GMBH
TABLE 268 CONNECT CHEMICALS GMBH: COMPANY OVERVIEW
11.2.4 CONCORD TECHNOLOGY (TIANJIN) CO., LTD.
TABLE 269 CONCORD TECHNOLOGY (TIANJIN) CO., LTD.: COMPANY OVERVIEW
11.2.5 BIOSOLVE CHIMIE
TABLE 270 BIOSOLVE CHIMIE: COMPANY OVERVIEW
11.2.6 GFS CHEMICALS, INC.
TABLE 271 GFS CHEMICALS, INC.: COMPANY OVERVIEW
11.2.7 HUNAN CHEM. EUROPE BV
TABLE 272 HUNAN CHEM. EUROPE BV: COMPANY OVERVIEW
11.2.8 ALFA AESAR
TABLE 273 ALFA AESAR.: COMPANY OVERVIEW
11.2.9 HONEYWELL RESEARCH CHEMICALS
TABLE 274 HONEYWELL RESEARCH CHEMICALS: COMPANY OVERVIEW
11.2.10 MITSUBISHI CHEMICAL CORPORATION
TABLE 275 MITSUBISHI CHEMICAL CORPORATION: COMPANY OVERVIEW
11.2.11 PHARMCO-AAPER
TABLE 276 PHARMCO-AAPER: COMPANY OVERVIEW
11.2.12 ROBINSON BROTHERS
TABLE 277 ROBINSON BROTHERS: COMPANY OVERVIEW
11.2.13 STANDARD REAGENTS PVT. LTD.
TABLE 278 STANDARD REAGENTS PVT. LTD.: COMPANY OVERVIEW
11.2.14 KISHIDA CHEMICAL CO., LTD.
TABLE 279 KISHIDA CHEMICAL CO., LTD.: COMPANY OVERVIEW
11.2.15 ANQORE
TABLE 280 ANQORE: COMPANY OVERVIEW
11.2.16 JINDAL SPECIALITY CHEMICALS
TABLE 281 JINDAL SPECIALITY CHEMICALS: COMPANY OVERVIEW
11.2.17 FUSHUN SHUNENG CHEMICAL CO., LTD.
TABLE 282 FUSHUN SHUNENG CHEMICAL CO., LTD: COMPANY OVERVIEW
11.2.18 SHANDONG JINCHENG PHARMACEUTICAL GROUP CO., LTD.
TABLE 283 SHANDONG JINCHENG PHARMACEUTICAL GROUP CO., LTD: COMPANY OVERVIEW