Acetonitrile is a by-product of acrylonitrile. It is basically used in the form of polar aprotic solvent in purifying butadiene and organic synthesis. It is in great demand from the end-use industries like biotechnological applications, pharmaceuticals manufacturing, specialty chemicals, electronics, and HPLC applications. The global acetonitrile market was worth US$ 277 Million in the year 2022 and is expected to reach US$ 473 Million by the year 2032 at a CAGR of 5.5% between 2022 and 2032.
Apart from pharmaceuticals, acetonitrile is used as a solvent for casting and molding plastic materials, along with extracting fatty acids from vegetable and animal oils. The other usages pertain to development of cosmetics and personal care; inclusive of acrylic nail removers and perfumes.
Acetonitrile grades are being broadly used in the extractive distillation with separation of olefin-diolefin mixtures and C4-hydrocarbons in the petrochemical sector. Polyacrylamide, acrylic fibers, and acrylic plastics are also witnessing rise in demand. This shows that acetonitrile has multiple uses and the scenario is expected to remain the same even in the forecast period.
At the same time, the fact that acetonitrile is witnessing shortage in supply can’t be ignored. Besides, there are alternatives available. Moreover, over-exposure to acetonitrile could result in health hazards. The environmental quotient (EQ) of acetonitrile is also not all that great. As such, the new entrants would give a second thought before venturing into acetonitrile market. These factors could act as restraints to acetonitrile market in the years to come.
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Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Acetonitrile Market’. It has its team of analysts and consultants to deploy 360-degree view along its macros and micros.
“With specialty chemicals increasingly asking for acetonitrile, the global acetonitrile market is expected to witness grandeur in the years to come”, says analyst from Future Market Insights.
Key Takeaways from Acetonitrile Market
- North America holds the largest market share with the US being subject to growing opportunities for industrial diamond.
- The Asia-Pacific is expected to witness growth at a rapid pace in the acetonitrile market going forward due to growing production of engineered drugs, generic pharmaceuticals, and pesticides.
- Europe is expected to grow on a matured note in the acetonitrile market in the forecast period along the similar lines as above.
Competitive Analysis
- Balaji Amines Ltd., in July 2019, began manufacturing acetonitrile at its plant having installation capacity of 9K tons per year. This facility would be catering to the increasing demand for acetonitrile from agrochemical and pharmaceutical verticals.
- Journal of Analytical Chromatography and Spectroscopy, in November 2018, published a research paper; wherein it tabled usage of acetonitrile as a solvent in liquid extraction and chromatography. It further stated that acetonitrile does act as mobile phase modifying agent in HPLC (High-performance Liquid Chromatography) devices. As such, growing demand for specialty solvents is expected to drive acetonitrile market globally.
- Oxford University’s researchers, since the year 2016, have their new-fangled solvent by combination of acetonitrile and methylamine that ends up having a lower viscosity and boiling point. This solvent is used for crystallization of perovskite films at ambient temperature, which, in turn, could be used for coating solar panels.
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What does the Report state?
- The research study is based on end-use industry (acetonitrile for pharmaceutical industry, acetonitrile for the analytical industry, and acetonitrile for other end-use industries), and by application (acetonitrile for pharmaceuticals, acetonitrile for organic synthesis, acetonitrile for specialty chemicals, acetonitrile for extraction, acetonitrile for HPLC solvents, and acetonitrile for DNA & RNA synthesis).
- The acetonitrile market is expected to grow on an unabated note in the forecast period on the back of pharmaceuticals vertical.
Key Segments Profiled in the Acetonitrile Industry Survey
End Use Industry:
- the Pharmaceutical Industry
- the Analytical Industry
- Other End-Use Industries
Application:
- Pharmaceutical Applications
- Organic Synthesis
- Specialty Chemicals
- Extraction
- HPLC Solvents
- DNA & RNA Synthesis
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Japan
- Middle East & Africa
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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