BENZYL CYANIDE MARKET ANALYSIS

Name: Benzyl Cyanide MarketChallenges and Opportunities
Creator: Coherent Market Insights
License: https://www.coherentmarketinsights.com/privacy-policy
Keywords: Benzyl Cyanide Market, Benzyl Cyanide Market Size, Benzyl Cyanide Market Outlook

Benzyl Cyanide Market – By Application (Agrochemicals, Pharmaceuticals, Perfumes & Fragrances, and Dyes) and By Region (North America, South America, Europe, Asia Pacific, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022-2028

To Be Published : Nov 2024
Code : CMI3013
Formats :
Excel and PDF
Industry : Bulk Chemicals

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.