Propionitrile Market
Propionitrile market is estimated to be valued at USD 105.2 Mn in 2024, exhibiting a CAGR of 5.01% over the forecast period (2024-2031). Propionitrile is an organic compound used as an intermediate in the production of other compounds. It is a colorless liquid with an unpleasant odor similar to propionic acid. Propionitrile has a variety of industrial uses and is predominantly consumed in the production of pharmaceuticals and agrochemicals. The compound acts as an intermediate in the manufacture of various drugs including anticonvulsants, antibiotics, and anti-tumor agents as well as in the synthesis of crop protection chemicals. Rising demand from the pharmaceutical and agrochemical industries over the years is expected to drive the propionitrile market growth during the forecast period.
Market Dynamics:
The propionitrile market is expected to be driven by factors such as growing demand from the pharmaceutical and agrochemical industries where it is used as an intermediate in the manufacturing of various end-use products. Pharmaceutical companies are increasingly focusing on developing advanced drugs to cater to the needs of a rising global population which is supporting the consumption of propionitrile. Similarly, the demand for agrochemicals such as pesticides, herbicides, and fungicides is growing with increasing concerns about food security across major agriculturally centered economies. However, the availability of substitute compounds for certain applications and stringent environmental regulations regarding its production and use may restrain the market growth to a certain extent. On the positive side, research and development activities around the development of new pharmaceutical formulations and agrochemicals using propionitrile provide new opportunities for market growth over the forecast period.
Key Features of the Study:
- This report provides in-depth analysis of the global propionitrile market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global propionitrile market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Air Liquide, Alfa Aesar, Ascend Performance Materials, Indo Amines Limited, Shanghai Worldyang Chemical Co., Ltd., Sigma Solvents Private Limited, TCI, Toronto Research Chemicals, Inc., and Triveni Chemicals
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global propionitrile market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global propionitrile market
Market Segmentation
Table of Contents
Browse 50 market data tables* and 40 figures* on “Propionitrile Market” – Global forecast to 2031.
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