The new report by Expert Market Research titled, ‘Global Acetonitrile Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global acetonitrile market, assessing the market based on its segments like end use and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): 122 Kilo Metric Tons
- Forecast CAGR (2023-2028): 5.1%
- Forecast Market Size (2026): 164.4 Kilo Metric Tons
One of the major factors driving the growth of the acetonitrile market is the growing demand for acetonitrile from end-use industries such as pharmaceutical manufacturing, speciality chemicals, electronics, HPLC applications, and biotechnological applications. Acetonitrile’s increasing popularity in the plastics industry, where it is used to make pure acrylonitrile and acrylonitrile butadiene styrene (ABS) plastics that offer impact strength, tensile strength and excellent resistance against chemicals and various plasticisers, will propel the acetonitrile market forward. Over the forecast period, the rise in the demand for acrylonitrile products such as acrylic fibres and polyacrylamide is, thus, expected tp boost the market growth.
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Industry Definition and Major Segments
Acetonitrile, also known as methyl cyanide (MeCN), is a chemical compound with the formula CH3CN. This colourless liquid is the most basic organic nitrile.
Based on end use, the industry can be divided into:
- Analytical Industry
- Extraction Industry
Regionally, the market is segmented into:
- North America
- Asia Pacific
- South America
- Middle East and Africa
During the forecast period, the global acetonitrile market is expected to gain significant momentum from the expanding pharmaceutical industry. The global pharmaceutical market was estimated at USD 1 trillion in 2015, according to the International Trade Association, and is projected to rise to USD 1.3 trillion by 2020. Key developments like this are expected to drive the growth of the market over the forecast period. The growth of key downstream sectors like pharmaceuticals and agrochemicals is expected to boost the market in the coming years. The increasing investments into these industries, especially in major emerging markets like China and India, are further expected to propel the growth of the market for acetonitrile.
Key Market Players
The major players in the market are Ineos AG, Asahi Kasei Corporation, Formosa Plastic Corporation, Imperial Chemical Corporation, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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