BENZYL CYANIDE MARKET ANALYSIS

Market Challenges And Opportunities

• The usage of benzyl cyanide as a precursor for synthesizing pharmaceuticals and growing pharmaceutical industry, worldwide is expected to drive growth of the benzyl cyanide market. For instance, according to the report, Pharmaceutical industry and global health’ published in February 2017 by International Federation of Pharmaceutical Manufacturers & Associations, 56 new pharmaceuticals were launched in 2015. Moreover, as per the same source, the global pharmaceutical market is expected to reach US$ 1,430 billion by 2020. Therefore, growing pharmaceutical industry is expected to result in increasing demand for benzyl cyanide over the forecast period.
• However, toxic nature of benzyl cyanide is expected to hamper the market growth. For instance, according to the European Chemicals Agency (ECHA), phenylacetonitrile substance is fatal if inhaled, is toxic if swallowed, and is toxic when it comes in contact with skin.