PYRIDINE MARKET ANALYSIS

Market Challenges And Opportunities

 Global Pyridine Market- Impact of Coronavirus (Covid-19) Pandemic

The emergence of Coronavirus in the fourth quarter of 2020 has boosted demand for Pyridine in the pharmaceutical sector, as to seek out nutritional goods to strengthen their immunity as a virus prevention strategy. During this period, the demand for pharmaceutical medications based on pyridine derivatives such as nicotine, nicotinamide, vitamin B6, and others has increased significantly, stimulating the market for pyridine derivatives. COVID-19, on the other hand, had a negative impact on the market in 2020. Pyridine derivatives are frequently utilized in the textile and pesticide industries. Textile mills and garment factories were temporarily closed due to the pandemic threat during the lockdown.

 Global Pyridine Market - Drivers

• Growing demand for synthetic pyridine from the chemical and pharmaceutical industries

The growing demand for synthetic pyridine from chemicals and pharmaceutical sectors is projected to drive market growth. According to the Coherent Market Insights analysis, synthetic pyridine accounts for 95% of the world's production of pyridines and is the only alternative for managing the high demand for the same. Robust growth in the chemical and pharmaceutical sectors is driving huge demand for the product and this is expected to foster the market growth over the forecast period.

• High demand for pyridine as an active ingredient in agrochemicals

High demand for pyridine as an active ingredient in agrochemicals is expected to bolster market growth. It is used in the production of pesticides. Significant demand for pesticides due to the growing need for higher quality yield crops and rising demand for food around the globe is fueling market growth. This is attributed to increasing populations. Also, the growing adoption of advanced farming practices is again expected to foster the market growth of pyridine over the forecast period.

 Global Pyridine Market - Restraints

Strict rules and regulations associated with the use of pyridine

Strict rules and regulations associated with the use of pyridine are expected to hamper the market growth. According to Occupational Safety and Health Administration (OSHA), for inhalation exposure, Acceptable Daily Intake (ADI) for pyridine is restricted to 0.002 mg/kg/day and its Reportable Quantity (RQ) value is 100.

 Global Pyridine Market - Opportunities

• The increasing use of pyridine as a solvent in various chemical applications

The increasing use of pyridine as a solvent in various chemical applications is projected to bring profitable opportunities in the near future. For instance, in SOCl2 and TsCl pyridine is used as a weak base. In this reaction, HCl is produced as a by-product. Pyridine absorbs HCl as it is generated and forms pyridinium hydrochloride. Thus, increasing use of pyridine as a solvent in many chemical reactions is projected to foster market growth in the near future.

• Growing regulatory approval for pyridine in food applications

Growing regulatory approval for pyridine in food applications is expected to open new doors of opportunities over the forecast period. Pyridine and its derivatives are widely used as a food flavor additive in the preparation of various food products. Thus, rising regulatory approvals in the U.S. for pyridine's usage as a food additive are anticipated to improve its acceptance in a variety of food applications and favor the expansion of the pyridine market in the near future.