Acetonitrile Market by Type (Derivative, Solvent), Application (Organic Synthesis, Analytical Applications, Extraction), End-use Industry (Pharmaceutical, Analytical industry, Agrochemical), Region - Global Forecast to 2028

Acetonitrile Market by Type (Derivative, Solvent), Application (Organic Synthesis, Analytical Applications, Extraction), End-use Industry (Pharmaceutical, Analytical industry, Agrochemical), Region - Global Forecast to 2028

The acetonitrile market is projected to grow from USD 439 million in 2023 to USD 595 million by 2028 at a CAGR of 6.2%. Expansions in current applications, cost-effectiveness, Innovations, emerging applications, and value-chain optimizations are some of the key factors driving the growth of the market. The acrylonitrile-acetonitrile by-product relationship is one of the restraining factors that hamper the growth of the market.

‘‘The derivative segment is the fastest-growing type segment of acetonitrile in terms of value and volume.’’

Based on type, the acetonitrile market has been segmented into derivative and solvent. As a derivative, acetonitrile is widely used in the pharmaceutical industry for the manufacturing of Vitamin B1 and sulfa pyrimidine. The increasing use of acetonitrile as a derivative or raw material in pharmaceutical applications is the major factor driving the growth of the derivative acetonitrile segment. The acetonitrile market is majorly driven by the rise in demand from the pharmaceutical and analytical industries across the globe.

“‘The analytical applications to lead the acetonitrile application segment in 2022.’’

The analytical applications segment accounted for the largest market share in terms of value in 2022. Acetonitrile is widely used in analytical applications such as standard preparations, electrochemistry, sample preparations, chromatography solvents, and many more. It can also be used for crystallization and purification processes in the laboratories. Analytical applications is one the largest application type covering all major end-use industries of acetonitrile.

‘‘The pharmaceutical segment is the fastest-growing end-use industry segment of acetonitrile in terms of both value and volume.’’

Based on the end-use industry, the pharmaceutical segment is expected to show the highest growth rate during forecasted years. Government initiatives for the growth of the pharmaceutical industry and increasing the use of acetonitrile in various applications are the major factors driving the acetonitrile market. It is the most versatile and cost-effective organic nitrile chemical and is widely used in the pharmaceutical industry across the world.

“Europe region has the second largest share in the acetonitrile during the forecast period.”

Europe is the second-largest market for acetonitrile in the world. Germany, France, and the UK are the leading markets for acetonitrile in the region. The demand for acetonitrile in the region is driven by Western European countries such as Germany, the UK, and France due to a high focus on pharmaceutical and biotechnological research. The growth of the European pharmaceutical market can be attributed to innovations in oncology and the development of medical drugs for chronic heart failure, rheumatoid arthritis, and Alzheimer's, as acetonitrile is used in medicinal drugs.

This study has been validated through primary interviews with industry experts globally. These primary sources have been divided into the following three categories:

By Company Type- Tier 1- 37%, Tier 2- 33%, and Tier 3- 30%

By Designation- C Level- 33%, Director Level- 27%, Executives- 30% and Others- 10%

By Region- North America- 22%, Europe- 40%, Asia Pacific - 20%, Latin America- 3%, Middle East & Africa- 15%

The report provides a comprehensive analysis of company profiles:

Prominent companies in the acetonitrile market include INEOS AG (Switzerland.), Asahi Kasei Corporation (Japan), Nova Molecular Technologies (US), PetroChina Co. Ltd. (China), Formosa Plastic Corporation (Taiwan), ShengHong Petrochemical Group Co., Ltd. (China), Avantor Performance Materials LLC (US), Imperial Chemical Corporation (Taiwan), Tedia Company Inc. (US), Avantor Performance Materials, LLC (US), Shanghai Secco Petrochemical Company Limited (China), Qingdao Shida Chemical Co., Ltd. (China), Nantong Acetic Acid Chemical Co., Ltd. (China), and others.

Research Coverage

This report covers the global acetonitrile market and forecasts the market size until 2028. It includes the following market segmentation- Type (Derivative, Solvent), Application (Organic Synthesis, Analytical Applications, Extraction, and Others), End-use Industry (Pharmaceutical, Analytical Industry, Agrochemical, and Others), and Region (North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America).

Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global acetonitrile market.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall acetonitrile market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (High demand for acetonitrile for drug recrystallization), restraints (Increasing demand for other substitute products like prionil), opportunities (Increasing applications in multiple end-use industries), and challenges (requirement of technically strong and skilled laborers) influencing the growth of the acetonitrile market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the acetonitrile market

Market Development: Comprehensive information about lucrative markets – the report analyses the acetonitrile market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the acetonitrile market

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like INEOS AG, Asahi Kasei Corporation, Formosa Plastic Corporation, Imperial Chemical Corporation, Nova Molecular Technologies, Inc., Tedia Company, Inc., PetroChina Co. Ltd., Shanghai Secco Petrochemical Company Limited, Avantor Performance Materials, LLC, Ltd. Nantong Acetic Acid Chemical Co., Ltd., Alkyl Amines Chemicals Ltd., Balaji Amines Ltd. among others in the acetonitrile market.