Due to its advantageous physical and chemical characteristics, such as a low freezing/boiling point and low viscosity, acetonitrile finds its main use in the pharmaceutical industry as a crucial solvent in the production of antibiotics. Due to its low toxicity, it is also thought to be safer than other common solvents like dichloromethane. During the forecast period, the expanding pharmaceutical industry is anticipated to significantly boost the global acetonitrile market's growth. The International Trade Association estimates that the global pharmaceutical business was valued at US$ 1 trillion in 2015 and will reach US$ 1.3 trillion by 2020. Due to the expanding chemical and pharmaceutical industries in the region, Asia Pacific now maintains a prominent position in the worldwide acetonitrile market. For instance, the International Trade Association estimates that China's pharmaceutical market was the second largest in 2015, with a value of US$ 108 billion, and is projected to reach US$ 167 billion by 2020.
Coherent Market Insights estimates that the size of the Acetonitrile market, which was estimated at USD 250.9 million in 2021, is expected to increase by 5.2% between 2023 and 2030 to reach USD 415 million.
Prominent Players in the Acetonitrile Industry:
1. BASF SE
The business was established in 1865, and its head office is in Ludwigshafen, Germany. Chemicals, materials for plastics, productivity goods, practical solutions, farm solutions, and oil and gas make up the company's six business segments. The expansion of BASF's polymer dispersions production facility in Daya Bay, China, was announced in March 2023. Through R&D innovation and a commitment to a sustainable lifestyle, BASF created healthy beauty in February 2023.
2. Merck KGaA
The business was founded in 1668 and is headquartered in Darmstadt, Germany. The company is divided into three divisions: healthcare, electronics, and life sciences. In February 2020, it was revealed that Merck's Allergopharma business was being sold to Dermapharm for an undisclosed fee. EMD Serono, the US and Canadian division of the Merck Group, announced in December 2021 that it would buy Chord Therapeutics, a Swiss startup, along with its lead medication, cladribine.
3. INEOS Nitriles Limited
The company was founded in 2006 and is based in Rolle, Switzerland. The business makes petrochemical, chemical, and oil products and provides acrylonitrile, acetonitrile, oxazole, hydrogen cyanide, acetone cyanohydrin, and ammonium sulphate. Clothing, rugs, and blankets are all made from acrylic fibres, which are a well-liked replacement for cotton and wool.
4. Asahi Kasei Corporation
The company was started in 1931 and has its main office in Tokyo, Japan. The Asahi Kasei Corporation produces and sells industrial chemicals, synthetic fibres, and other products. Cupra fibre, polyurethane fibre, styrene monomer, acrylonitrile, polyethylene, synthetic rubber, engineering resin, and other materials are produced by the company. Asahi Kasei created a framework for investing in businesses that are concerned with carbon neutrality in April 2023.
5. Mitsubishi Chemical Corporation
The business was founded in 1933 and is located in Japan. The Corporation produces acetyls, high performance films, optical films, information and electronics materials, and other goods in addition to manufacturing and distributing chemical products. To assist new businesses in scaling up manufacturing with lightweight composite materials, The Mitsubishi Chemical Group introduced the Composite Engineering Challenge in December 2022.
6. Avantor Inc.
The business was established in 1904 and is based in Pennsylvania, United States. The company Avantor, Inc. produces and sells reagents, chemicals, and lab equipment. The biopharma, healthcare, education, government, advanced technology, life sciences, and applied materials industries are all served by Avantor on a global scale. In June 2021, Avantor acquired RIM Bio, a manufacturer of single-use bioprocess bags and components for biopharmaceutical processing applications.
7. Nova Molecular Technologies
The firm was founded in 1989 and has its headquarters in Wisconsin, United States. Chemical processing and specialised chemicals are the company's areas of expertise. Batch and continuous distillation, amine chemistry, high pressure reaction, high valve solvent recovery, and commercial chemical development are among the services offered by the company.
Definition: Acetonitrile is a polar, organic, colourless liquid with an aromatic odour that is mostly created as a byproduct during the production of acrylonitrile.
