Acetonitrile Market

Market Overview

Acetonitrile, with the chemical formula CH3CN is a chemical compound known for its colorlessness, toxicity, volatility and flammability. It is the simplest organic nitrile and mixes well with many other organic solvents. Acetonitrile is mainly made as a side product during the manufacturing of acrylonitrile which is widely used as a polar aprotic solvent to purify butadiene. In various industries, acetonitrile serves as a crucial solvent. It is essential in pharmaceuticals, helping to extract fatty acids from oils and in processes such as casting plastics and making perfumes. Its role extends to high-performance liquid chromatography and as a raw material for synthesizing new medicines, pesticides and vitamin B1. These versatile applications are expected to boost the market growth. The Acetonitrile Market is anticipated to grow significantly due to high demand from industries like pharmaceuticals, biotechnology, electronics, specialty chemicals and high-performance liquid chromatography (HPLC). The global acetonitrile industry is highly driven by the pharmaceutical sector. Acetonitrile is crucial in pharmaceutical manufacturing where it is used as a chemical in reactions, solutions or extraction processes. It is crucial for synthesizing cortisone, Vitamins A and B, carbonate medications and certain amino acids, which are in high demand in the pharmaceutical industry. Its popularity stems from advantageous physical and chemical properties such as a low freezing and boiling point and low viscosity which makes it highly preferred. Additionally, its relatively low toxicity compared to solvents such as hydrogen cyanide and dichloromethane enhances its safety profile which further increases its demand in pharmaceutical applications.

Acetonitrile Market Size

Report	Details
Market Size Value	USD 3.09 Billion in 2023
Market Size Value	USD 11.37 Billion by 2030
CAGR	19.50%
Forecast Period	2023-2030
Base Year	2023
Historic Data	2020

Major vendors in the global acetonitrile market are Taekwang Industrial Co., Ltd, GFS Chemicals, Inc., Connect Chemicals GmbH, Concord Technology (Tianjin) Co., Ltd., BiosolveChimie, Hunan Chem. Europe BV, Jilin Provincial Chemicals Import & Export Co., Ltd., Alfa Aesar, Honeywell Research Chemicals, Mitsubishi Chemical Corporation, Pharmco-Aaper, Standard Reagents Pvt. Ltd., Zibo Luzhong Chemical and Light Industry Co., Ltd., Robinson Brothers, Asahi Kasei Corporation, Ineos AG, Formosa Plastic Corporation, Imperial Chemical Corporation, Nova Molecular Technologies, Inc., Tedia Company, Inc., Avantor Performance Materials, LLC, Shanghai Secco Petrochemical Company Limited, Qingdao Shida Chemical Co., Ltd., Nantong Acetic Acid Chemical Co., Ltd. and Others.

Growing demand of acetonitrile in pharmaceutical and petrochemical sectors

The global acetonitrile market is set to grow significantly which is driven by its increasing use in both the pharmaceutical and analytical industries. The thriving global pharmaceutical sector and the rising demand for acetonitrile in analytical applications are major drivers of this growth. In the pharmaceutical industry, acetonitrile is primarily used as a solvent, which helps in the casting and molding of plastic materials and the extraction of fatty acids from animal and vegetable oils. This growing adoption is expected to significantly boost market growth. Additionally, the compound's expanding use in the production of personal care and cosmetic products such as perfumes and acrylic nail removers is also driving the demand during the forecast period. Acetonitrile is also extensively used in the petrochemical sector which is particularly for extractive distillation and the separation of C4-hydrocarbons and olefin-diolefin mixtures. Thus, the rapid growth of both the pharmaceutical and petrochemical industries is a major factor strengthening the acetonitrile market during the forecast period. Moreover, the increasing demand for acetonitrile-based products such as acrylic fibers, polyacrylamide and acrylic plastics is expected to accelerate further market growth in the foreseeable future.

Market Dynamics

Drivers:

• Growing demand of acetonitrile in pharmaceutical and petrochemical sectors
• Increasing use of acetonitrile in lithium-ion batteries
• Advancement and development in analytical techniques

Opportunities:

• Increasing focus on sustainability and environmental initiatives
• Increasing growth of the agrochemical industry
• Advancements in chemical synthesis

Increasing growth of agrochemical industry

The acetonitrile market is experiencing growth due to its extensive use in the agrochemical industry for producing pesticides, herbicides, and insecticides. The rising global demand for food is driven by a growing population and decreasing arable land which is also showing positively impact on market expansion. Acetonitrile's high solvency power makes it ideal for extracting and formulating active ingredients in agrochemicals which is further boosting its demand. Additionally, its crucial role in pesticide residue analysis ensures agricultural products meet safety and regulatory standards is also supporting the market growth. Moreover, the shift towards sustainable agriculture has led to an increased use of acetonitrile in producing bio-based agrochemicals which is fueling further market expansion. Technological advancements and innovations in agrochemical formulations have also plays a crucial role in the industry’s expansion. Modern agrochemicals are designed to be more effective, environmentally friendly and specific in their action which is helping in reducing the impact on non-target species and ecosystems. The development of bio-based and organic agrochemicals is gaining traction that is aligning with the global shift towards sustainable agriculture and environmental conservation.

The market for acetonitrile market is dominated by Asia-Pacific.

By analysing the acetonitrile market globally across various country like North America, Europe, Asia-Pacific, and LAMEA in which Asia-Pacific holds the largest market share during the forecast period. The growth is driven by the region's production of acetonitrile is on the rise to meet domestic needs for pharmaceutical medicaments along with the growing exports of HPLC-grade acetonitrile. This increase in production and export activity is fueling the demand for acetonitrile in the area. Additionally, the region's expanding population and the growing number of industries using acetonitrile have contributed to the market growth. The heightened focus on developing higher-quality medicines and pesticides is further boosting the demand for acetonitrile. Countries such as Japan, China and India are major contributors to the growth of the acetonitrile market in the Asia Pacific, due to the strong industrial bases and increasing emphasis on pharmaceutical and agrochemical advancements.

The pharmaceutical segment is anticipated to hold the largest market share during the forecast period

The global market is categorized by end-user industry into pharmaceutical, analytical industry, agrochemical and others in which pharmaceutical segment held the largest market share. The pharmaceutical sector holds the largest share of the acetonitrile market due to its essential role in drug development and quality control. Acetonitrile is widely used in high-performance liquid chromatography (HPLC) to analyze and purify pharmaceuticals. Furthermore, its effectiveness in solvent extraction and the synthesis of amino acids and vitamins which are essential for preparation of medications is also fueling the market growth. Additionally, with the rising global healthcare expenditure, increased focus on research and development and growing production of generic drugs are further driving the demand for acetonitrile in this sector.

Major segmentations are distributed as follows:

• By Type:
  • Derivative
  • Solvent
• By Application:
  • Organic Synthesis
  • Analytical Applications
  • Extraction
  • DNA & RNA Synthesis
  • Others
•        By End-User Industry:
  • Pharmaceutical
  • Analytical Industry
  • Agrochemical
  • Others
• By Region
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Chile
    • Peru
    • Rest of Latin America
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • U.K.
    • BENELUX
    • CIS & Russia
    • Nordics
    • Austria
    • Poland
    • Rest of Europe
  • Asia Pacific

• • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Indonesia
  • Malaysia
  • Vietnam
  • Australia & New Zealand
  • Rest of Asia Pacific

• • Middle East & Africa

• • Saudi Arabia
  • UAE
  • South Africa
  • Nigeria
  • Egypt
  • Israel
  • Turkey
  • Rest of MEA

 Recent Developments

• March 2023, Asahi Kasei Corporation announced the upgradation of their website for products such as acetonitrile and meth-acrylonitrile.
• July 2022, PetroChina announced a $4.52 billion project to transform a subsidiary refinery in southern China into a comprehensive petrochemicals complex.
• April 2022, INEOS AG announced plans to invest in a large-scale acetonitrile manufacturing plant in Cologne, Germany. This new facility is designed to strengthen the company’s supply capabilities in Europe and serve the region’s healthcare sector.

  Answers to Following Key Questions:

• What will be the acetonitrile market ’s trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers in the acetonitrile market?
• What are the main forces behind worldwide acetonitrile market? Which companies dominate acetonitrile market?
• Which companies dominate acetonitrile market? Which business possibilities, dangers, and tactics did they embrace in the market?
• What are the global insight engines industry's suppliers' opportunities and dangers in acetonitrile market?
• What is the insight engines industry's regional sales, income, and pricing analysis? In the acetonitrile market, who are the distributors, traders, and resellers?
• What are the main geographic areas for various trades that are anticipated to have astounding expansion over the acetonitrile market?
• What are the main geographical areas for various industries that are anticipated to observe astounding expansion for acetonitrile market?
• What are the dominant revenue-generating regions for acetonitrile market, as well as regional growth trends?
• By the end of the forecast period, what will the market size and growth rate be?
• What are the main acetonitrile market trends that are influencing the market's expansion?
• Which key product categories dominate acetonitrile market? What is acetonitrile market ’s main applications?
• In the coming years, which acetonitrile market technology will dominate the market?