Global Acetonitrile Market Report and Forecast 2024-2032

Global Acetonitrile Market Size

The global acetonitrile market reached a consumption volume of around 141.63 kilo metric tons in 2023. The consumption of acetonitrile is expected to grow at a CAGR of around 5.1% in the forecast period 2024-2032 to reach a volume of around 221.58 kilo metric tons by 2032.

The Asia Pacific region is the leading region in terms of consumption, with China being the largest consumer nation. The region alone accounts for almost 60% of the consumption share, which is more than 70 million tons. The Asia Pacific region is followed by Europe and North America, contributing a significant share to the consumption growth. The end-use sector is dominated significantly by the pharmaceuticals sector, accounting for 70% of the acetonitrile market share.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

China is the leading consumer nation, along with being one of the major producers. In 2017, the total manufacturing output in China reached a volume of around 10 million tons. The rising demand for the product in the region is widely being supported by its increasing application in the end-use industries. The product finds wide end-uses as a solvent, HPLC solvents, semiconductor cleaning agent, and fine chemical intermediates. The rising demand in the application sector has provided an impetus to the growth of the acetonitrile market in China.

The feedstock for acetonitrile includes ammonia and propylene. The largest consumer region for propylene is the Asia Pacific region, followed by North America and Western Europe. Propylene is abundantly used for the production of polypropylene. The market for ammonia is also led by the Asia Pacific region, accounting for nearly 60% of the market share. The Asia Pacific region is followed by Europe and North America. The rising markets for these feedstocks significantly affect the growth of the acetonitrile global market.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Properties and Applications

Acetonitrile is a colourless, toxic, water-soluble fluid, with the chemical formula C2H3N, which smells like ether. The chemical is generally used primarily in organic synthesis and as a solvent.

Acetonitrile finds its end uses in the following segments:

• Pharmaceuticals
• Analytical Industry
• Agrochemicals
• Extraction Industry
• Others

The regional acetonitrile markets include North America, Europe, Asia Pacific, South America, and Middle East and Africa.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Analysis

The global acetonitrile market is significantly being driven by the ever-growing pharmaceuticals industry. The demand for pharmaceuticals is rapidly increasing owing to the rising healthcare sector and the advancing technologies. The product is widely being used as solvents in manufacturing insulin and antibiotics. It also finds its uses in DNA synthesis. The pharmaceuticals industry is widely growing, especially in the developing regions of the Asia Pacific regions, with China and India accounting for the highest growth rate.

The acetonitrile market is also being aided by its rising application in the HPCL sector, that is, high-performance liquid chromatography. The rising use of acetonitrile in synthesising several nutrients is also propelling the market growth further. Acetonitrile has wide applications as a solvent in UV spectroscopy, polarography, and lithium batteries. The product helps in the casting, as well as moulding of plastic materials and for spinning fibres. It is also used as a solvent for extracting oleochemicals like fatty acids from animal and vegetable oils. In chemical laboratories, it can be used to detect chemical residues. The increasing use of acetonitrile as a semiconductor cleaning agent and as fine chemical intermediates is also providing an impetus to the acetonitrile market growth.

Competitive Landscape of Acetonitrile Industry

The report gives a detailed analysis of the following key players in the global acetonitrile market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Ineos AG
• Asahi Kasei Corporation
• Formosa Plastic Corporation
• Imperial Chemical Corporation
• Others

The comprehensive EMR report provides an in-depth assessment of the acetonitrile market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

Acetonitrile Market Report Snapshots

Acetonitrile Market Size

Acetonitrile Market Analysis

Acetonitrile Companies