The Asia-Pacific acetonitrile market is anticipated to grow at a CAGR of 5.5% during the forecast period (2021-2027). Innovative manufacturing techniques such as recycled acetonitrile production from anhydrous & aqueous wastes and through ethanol ammoxidation. Acetonitrile production through ethanol ammoxidation is a process through which chemical is produced through renewable resources. This process offers beneficial attributes including low ammonia consumption, eco-friendly, limited resource usage, and high yield. Ultra-pure acetonitrile production with lower metal content helps in better chemical analysis and product quality, thus these factors are driving industry growth in the region. Additionally growing pharmaceutical and chemical industry in the Asia-Pacific region is expected to provide major growth traction to the global acetonitrile market during the forecast period. This is attributed to several factors such as the size of the population especially the older population, GDP per capita, health expenditures, regulatory systems, physicians’ attitudes as well as disease incidence.
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Growing demand for animal fodder along with crop fiber in textile manufacturing should boost agrichemicals demand. Acetonitrile is widely utilized for agrichemical synthesis which should boost the acetonitrile market growth. China, India, and Japan represent the largest agrochemicals markets of the Asian continent. Currently, China is leading the market with its developing agricultural sector along with the need for its ever-growing population.
Apart from this, in 2018, Asia Pacific held the largest share of the acetonitrile on the back of growing industrialization. The demand for acetonitrile is gaining pace due to its increased utilization in the manufacturing of vitamins A and B1, cortisone, APIs, carbonate drugs, sulfa pyrimidine, and several amino acids. The advancement in the pharmaceutical and biotechnology industry has supported the growth of the acetonitrile market and is anticipated to grow the market during the forecast period.
Additionally, in June 2021, Avantor acquired RIM Bio to expand its bioproduction footprint in China. Thus, the China operations became Avantor’s first single-use production facility in the AMEA region doubling Avantor’s global single-use cleanroom space to meet global demand for single-use solutions. Further, in July 2019, Balaji Amines Limited started its production of acetonitrile plant which has a total capacity of 9,000 tons per year. The new capacity was established to meet the growing demand from domestic pharmaceuticals and agrochemicals industries. Such huge investment in acetonitrile production facility expansion is anticipated to drive the Asia-Pacific market.
Market Coverage
· The market number available for – 2021-2027
· Base year- 2021
· Forecast period- 2021-2027
· Segment Covered-
· By Type
· By Application
· By End-User
· Competitive Landscape- Mitsubishi Chemical Corp., Asahi Kasei Corp., Balaji Amines, Ltd., Henan Haofei Chemical Co., Ltd., INEOS Group, Ltd., Jiangsu Sailboat Petrochemical Co., Ltd., Jilin Provincial Chemicals Import & Export Co., Ltd., and Shanghai SECCO Petrochemical Co., Ltd.
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Asia-Pacific 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
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
