Acetonitrile market to grow at a CAGR of 5.1% by 2027. Asia Pacific held the largest share of the acetonitrile on the back of growing industrialization.

NEW YORK, UNITED STATES, December 3, 2021 /EINPresswire.com/ -- According to the latest study on “Global Acetonitrile Market to 2027 – Covid-19 Impact, Analysis and Forecast by Type (Derivative, Solvent); by Application (Pharmaceutical, Analytical Industry, Agrochemical, Extraction, Others) and Geography,” the global acetonitrile market is accounted for US$ 236.18 Million in 2018 and is expected to grow at CAGR of 5.1% during the forecast period 2019 – 2027, to account for US$ 368.60 Million by 2027. The report highlights drivers and restraints pertaining to the market growth, along with highlighting prominent players and their developments in the market.

Strategic Insights

Market Size Value - in US$ 236.18 Million in 2018
Market Size Value - by US$ 368.60 Million by 2027
Growth rate - CAGR of 5.1% from 2019-2027
Forecast Period - 2019-2027
Base Year - 2019
No. of Pages - 152
No. Tables - 56
No. of Charts & Figures - 71
Historical data available - Yes
Segments covered - Type ; Application and Geography
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Acetonitrile, otherwise called methyl cyanide or ethanenitrile, is a dull, unpredictable, combustible, and lethal dissolvable. It is the least difficult natural nitrile and can be blended in with water alongside most natural solvents. It additionally shows high miscibility with liquor, CH3)2CO, and epoxy gum with no obstruction with epoxy polymerization. This colorless liquid is the simplest organic nitrile (although hydrogen cyanide is even simpler, the cyanide anion is not classed as organic) to synthesize.

Good solvent properties of acetonitrile to boost its demand in the global market

Acetonitrile is regarded as an outstanding solvent due to its ability to dissolve a wide variety of pharmaceutical ingredients and excellent chemical, with an acceptable environmental profile. It has, therefore, urged to be a favored solvent by process chemists. Acetonitrile is also comparatively inert due to the strong carbon-carbon bond, which can be hydrolyzed only under extreme conditions, which makes it an excellent reaction solvent. Acetonitrile is primarily used as a solvent in the manufacture of pharmaceuticals, for casting & molding of plastic materials, in spinning fibers, for the extraction of fatty acids from animal & vegetable oils, in lithium batteries, and in chemical laboratories for the detection of materials such as pesticide residues. Acetonitrile is also applicable in dyeing textiles & in coating compositions as a stabilizer for the chlorinated solvents and in the production of perfume as a chemical intermediate. Increasing demand for acetonitrile from the end-use industries, including paint & coatings, pharmaceuticals, electrical & electronics, chemicals & materials, and others, has played a significant role in the global expansion and development of the Acetonitrile market.

Impact of COVID-19 on Acetonitrile Market:

The impact of recent COVID-19 outbreak that started in Wuhan (China) in December 2019 has spread all over the globe rapidly. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the most detectably frightful influenced nations with high affirmed cases and pronounced deaths as of April 2020. As indicated by the most recent WHO figures, there are ~ 2,719,896 affirmed cases and 187,705 mortalities caused by this pandemic all around the world. COVID-19 has affected economies and undertakings in different nations, on account of lockdowns, travel bans, and business shutdowns. The global chemicals and materials is one of the industries facing most rough impact of these conditions. These factors have unimaginably affected the worldwide acetonitrile market growth.

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Acetonitrile Market: Application

Based on application, the acetonitrile market has been segmented into pharmaceuticals, analytical industry, agrochemical, extraction, and others. In 2018, the pharmaceuticals segment dominated the acetonitrile market in 2018, and it is projected to exhibit the highest CAGR in the market during the forecast period. The growth of the segment is primarily attributed to the growing use of acetonitrile in synthesis of active pharmaceutical ingredients (APIs). It is used as a reagent, solvent or extraction solvent, and starting material for synthesizing vitamin A, vitamin B1, cortisone, carbonates drugs, and several amino acids. About 50% of acetonitrile produced is used in the production of insulin and antibiotics, including third-generation cephalosporins. It is also used in the manufacture of synthetic pharmaceuticals. The increasing demand for nutrition and antibacterial medication leads to the growth in the demand for acetonitrile in pharmaceutical applications.
Acetonitrile Market: Competitive Landscape and Key Developments

The global acetonitrile market is a concentrated one, with a few very well-established players. Anqore BV, Concord Technology (Tianjin) Co., Ltd., Formosa Plastic Corporation, Honeywell International Inc, Imperial Chemical Corporation, Ineos AG, Mitsubishi Chemical Corporation, Nova Molecular Technologies, Taekwang Industrial Co. Ltd., and Tedia Company are among the major players operating in the global acetonitrile market.

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