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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
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 global acetonitrile market.
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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