The global acetonitrile market is anticipated to grow significantly at a CAGR of 4.5% over the forecast period (2024-2031). Acetonitrile is widely used as a solvent; it also synthesizes dyestuff and is an important intermediate raw material for medicine and agricultural pesticides. It plays an important role in organic synthesis as well. Due to its application in the manufacturing of antibiotics and demand for chemical synthesis in medical formulas the pharmaceutical industry segment of the market is estimated to hold a lucrative share in the market applications and the end-user industry.
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In November 2018, as per the research paper published by the Journal of Analytical Chromatography and Spectroscopy, acetonitrile act as a mobile phase modifying agent in the High-performance chromatography HPLC devices. In October 2016, researchers at Oxford University developed a new solvent by combining methylamine and acetonitrile. The new solvent has a low boiling point and viscosity and was used to crystallize perovkite films at room temperature. The films can be used to coat solar panels. Thus, increasing use of acetonitrile in new solvent applications, and increasing demand for specialty solvents are expected to drive the demand for the acetonitrile market during the forecast period.
Apart from this, the key companies across the globe are highly inclined towards the adoption of different growth strategies including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, new product launch, and product innovation to remain competitive in the marketplace. For an instance in early 2016, Thermo Fisher Scientific acquired Affymetrix including its USB biochemicals products to enhance its product portfolio and expand its geographical reach and production. Further, in January 2017, Thermo Scientific moved Affymetrix, USB biochemicals onto alfa.Com intended to offer purchase of Alfa Aesar Biochemicals under the one roof, life Science Station. In June 2015, Alfa Aesar extended its New Lab start-up program to include Europe. The program was designed to make Alfa Aesar products such as specialty chemicals including acetonitrile, available to researchers through an affordable discount program. Previously it was only available in the UK, US, and Canada. Hence, owing to these aforementioned factors, the growth of the acetonitrile market is likely to be witnessed over the forecast period.
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Market Coverage
- Segment Covered- By type, by Applications, and By End-User
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- INEOS, Mitsubishi Chemical Corp., Asahi Kasei Corp., Jiangsu Sailboat Petrochemical Co., Ltd., Jilin Provincial Chemicals Import & Export Co., Ltd. , Merck KGaA, Shanghai SECCO Petrochemical Co., Ltd.
Key questions addressed by the report
- What is the market growth rate?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from the pre-COVID forecast
o Most affected region/segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Acetonitrile Market – Segmentation
By Type
- Derivative
- Solvent
By Application
- Organic Synthesis
- Specialty Chemicals
- HPLC Solvents
- Pharmaceutical
- Extraction
- DNA and RNA Synthesis
- Others
By End-User Industry
- Pharmaceutical Industry
- Analytical Industry
- Agricultural Industry
- Others
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