Acetonitrile Market – Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

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Acetonitrile is a polar, organic, and colorless liquid with aromatic odor and produced mainly as a byproduct during the manufacture of acrylonitrile. It is mainly used as a solvent in the purification of butadiene in refineries, pharmaceuticals, casting & molding of plastic materials, perfume production, extraction of fatty acids from animal & vegetable oil, and others.

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Market Dynamics:-

Acetonitrile finds its major application in pharmaceutical industry as a key solvent in the manufacturing of antibiotics, owing to its favorable physical and chemical properties such as low freezing/boiling point and low viscosity. It is also regarded as safe over other major solvents such as dichloromethane due to low toxicity. Growing pharmaceutical industry is expected to provide major growth traction to the global acetonitrile market during the forecast period. According to International Trade Association, global pharmaceutical market was registered at US$ 1 trillion in 2015, which is expected to increase to US$ 1.3 trillion by 2020.

Acute inhalation or contact with acetonitrile can cause eye, skin, or respiratory irritation. It is also flammable due to low flash point. Such handling issues prevent the extensive use of acetonitrile, which can hinder the growth of the market during the forecast period.

Market Outlook:-

Asia Pacific holds dominant position in the global acetonitrile market, owing to growing pharmaceutical and chemical industries in the region. For instance, according to International Trade Association, China was the second biggest pharmaceutical market in 2015, with a value of US$ 108 billion, which is expected to increase to US$ 167 billion by 2020.

Key Players in the Global Acetonitrile Market:-

Key players operating in the global acetonitrile market include Merck KGaA, BASF SE, INEOS Nitriles Limited, Asahi Kasei Corporation, Mitsubishi Chemical Corporation, The Chemical Company, Fisher Scientific UK Ltd, Imperial Chemical Corporation, Avantor Inc., and Nova Molecular Technologies.

Key companies focus on adopting various organic and inorganic growth strategies, in order to enhance its production capacity. For instance, in May 2018, Balaji Amines Ltd. announced plans to expand its annual acetonitrile production capacity from 10,000 MT to 30,000 MT by 2019.

Acetonitrile finds its major application in pharmaceutical industry as a key solvent in the manufacturing of antibiotics, owing to its favorable physical and chemical properties such as low freezing/boiling point and low viscosity. It is also regarded as safe over other major solvents such as dichloromethane due to low toxicity. Growing pharmaceutical industry is expected to provide major growth traction to the global acetonitrile market during the forecast period. According to International Trade Association, global pharmaceutical market was registered at US$ 1 trillion in 2015, which is expected to increase to US$ 1.3 trillion by 2020.

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