ACETONITRILE MARKET ANALYSIS

Acetonitrile is a polar, organic, and colorless liquid with aromatic odor and produced mainly as a byproduct during the manufacture of acrylonitrile. It is mainly used as a solvent in the purification of butadiene in refineries, pharmaceuticals, casting & molding of plastic materials, perfume, extraction of fatty acids from animal & vegetable oil, and others.

Market Dynamics:-

Acetonitrile finds its major application in pharmaceutical industry as a key solvent in the manufacturing of antibiotics, owing to its favorable physical and chemical properties such as low freezing/boiling point and low viscosity. It is also regarded as safe over other major solvents such as dichloromethane due to low toxicity. Growing pharmaceutical industry is expected to provide major growth traction to the global acetonitrile market during the forecast period. According to International Trade Association, global pharmaceutical market was registered at US$ 1 trillion in 2015, which is expected to increase to US$ 1.3 trillion by 2020.

Acute inhalation or contact with acetonitrile can cause eye, skin, or respiratory irritation. It is also flammable due to low flash point. Such handling issues prevent the extensive use of acetonitrile, which can hinder the growth of the market during the forecast period.

Market Outlook:-

Asia Pacific holds dominant position in the global acetonitrile market, owing to growing pharmaceutical and chemical industries in the region. For instance, according to International Trade Association, China was the second biggest pharmaceutical market in 2015, with a value of US$ 108 billion, which is expected to increase to US$ 167 billion by 2020.

Key Players in the Global Acetonitrile Market:-

Key players operating in the global acetonitrile market include Merck KGaA, BASF SE, INEOS Nitriles Limited, Asahi Kasei Corporation, Mitsubishi Chemical Corporation, The Chemical Company, Fisher Scientific UK Ltd, Imperial Chemical Corporation, Avantor Inc., and Nova Molecular Technologies.

Market Taxonomy:-

On the basis of type, the global acetonitrile market is segmented into:

• Derivative
• Solvent

On the basis of application, the global acetonitrile market is segmented into

• Pharmaceutical
• Organic Synthesis
• Specialty Solvents
• Agrochemicals
• Extraction
• DNA & RNA Synthesis

On the basis of region, the global acetonitrile market is segmented into:

• Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • Australia
  • South Korea
  • Rest of Asia Pacific
• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • U.K.
  • Germany
  • France
  • Spain
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East and Africa

Key Developments:

• In July 2019, Balaji Amines Limited started the production of its acetonitrile plant having a total installed capacity of 9,000 tons per year. The new facility will majorly meet the growing demand from domestic pharmaceuticals and agrochemical industries.
• In November 2018, a research paper published by the Journal of Analytical Chromatography and Spectroscopy studied the use of acetonitrile as a tops solvent in liquid chromatography and extraction. The research found out that acetonitrile acts as a mobile phase modifying agent in the High-performance liquid chromatography (HPLC) devices. Increasing demand for specialty solvents will drive the growth for acetonitrile market at a global level.
• In October 2016, researchers at Oxford University developed a new solvent by combining methylamine and acetonitrile which has a low boiling point and viscosity. The new solvent was then used to quickly crystalize perovskite films at room temperature which could be used to coat solar panels. Increasing use of acetonitrile in new solvent application is expected to drive the demand for acetonitrile market during the forecast period.