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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Acetonitrile 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.
Acetonitrile Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global acetonitrile market reached a volume of around 141.63 kilo metric tons in 2023.
The market is projected to grow at a CAGR of nearly 5.1% in the forecast period of 2024-2032.
The market is estimated to reach a volume of around 221.58 kilo metric tons by 2032.
The major market drivers include the growing use of acetonitrile in the pharmaceutical sector and the surging applications of acetonitrile as a semiconductor cleaning agent.
The key trends guiding the market include technological advancements and innovations in the healthcare sector, rising applications of acetonitrile in the HPCL sector, and the surging use of acetonitrile for detecting chemical residues.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
The significant end uses of acetonitrile are pharmaceuticals, analytical industry, agrochemicals, and extraction industry, among others.
The leading players in the market are Ineos AG, Asahi Kasei Corporation, Formosa Plastic Corporation, and Imperial Chemical Corporation, among others.
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