The Indian acetonitrile market is anticipated to grow at a CAGR of 5.2% during the forecast period (2021-2027). Acetonitrile is produced mainly as a by product from the manufacture of acrylonitrile. It is mainly used as a polar aprotic solvent in the purification of butadiene. In the laboratory, it is used as a medium-polarity solvent that is miscible with water and has a convenient liquid range. The considerable researches in the field of chemicals to find out the use of acetonitrile as solvent are the key factor driving the growth of the Indian acetonitrile market. In India, acetonitrile is produced by Reliance industries as a coproduct of the production of acrylonitrile. Additionally, India’s demand for acetonitrile is met by imports. The present import of acetonitrile is around 75,000 tonnes per annum.
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Rising generic pharmaceutical manufacturing activities in the region and high consumption of agrochemicals and pesticides are anticipated to drive the market as acetonitrile is widely utilized for agrochemical synthesis. India is the third-largest consumer of polymers, fourth-largest producer of agrochemicals, and sixth largest producer of chemicals. According to the Indian Brand Equity Foundation, India is the largest producer of pulses, rice, wheat, spices, and spice products. In October 2020, the production of key chemicals was 880,569 MT and petrochemicals were 1,808,997 MT. Further, government initiatives and plans such as the National Food Security Mission (NFSM) that aim to increase production of wheat, pulses, and coarse cereal should propel agrichemical demand, thus driving acetonitrile regional market growth.
In July 2019, Balaji Amines Limited started its production of acetonitrile plants which have 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. Moreover, in January 2020, Ultramarine & pigments successfully commissioned the Sulphonation plant setup in Nellore, Andhra Pradesh, to manufacture surfactants and specialty chemicals. Further, in November 2020, Indian companies witnessed interest from strategic investors led by Japan, Korea, and Thailand, as they seek to diversify supply chains from China. This includes large deals in FY 2020—KKR’s $414 million acquisition of JB Chemicals and Pharmaceuticals Ltd. and Carlyle’s $210 million acquisition of SeQuent Scientific Ltd.
A 2034 vision for the chemicals and petrochemicals sector has been set up by the government to explore opportunities to improve domestic production, reduce imports and attract investments in the sector. The government plans to implement a production-link incentive system with 10-20% output incentives for the agrochemical sector to create an end-to-end manufacturing ecosystem through the growth of clusters. Thus, such kind of development and government initiatives across the country is anticipated to drive the Indian acetonitrile market.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
Segment Covered-
- By Type
- By Application
- By End-User
- Competitive Landscape- Vizag Chemicals, Balaji Amines Ltd., Standard Reagents, Delux Metal Processing Chemicals Pvt Ltd, and so on
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A full Report of Indian Acetonitrile Market is Available at: https://www.omrglobal.com/industry-reports/india-acetonitrile-market
Indian 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.)
