The North American acetonitrile market is anticipated to grow at a CAGR of 4.2% during the forecast period (2021-2027). Acetonitrile was first prepared by Jean Baptiste Dumas in the year 1847. It is mainly produced as a by-product of acrylonitrile manufacture. Acetonitrile is widely used in battery applications owing to its relatively high dielectric constant and ability to dissolve electrolytes. The new battery production line is being added to manufacture battery packs featuring new, next-generation cells in Los Angeles Country. The facility aims at expanding Proterra’s battery production capacity to meet the growing demand for the company’s battery systems in Proterra Powered commercial vehicles and Proterra’s transit buses. Similarly, in December 2019, GM Company and LG Chem announced to invest nearly $2.3 billion to build a 30 GWh battery factory in Lordstown, Ohio. Thus, the expansion of new production lines for batteries is contributing to the growth of the acetonitrile market in the region.
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Acetonitrile is used as a solvent in the manufacturing of pharmaceuticals, casting, and molding plastics. Most of the Acetonitrile produced is used in the production of insulin and antibiotics, including third-generation cephalosporins. The US market in the North American region has the major share in the market owing to robust investments in R&D, high healthcare expenditure, the presence of major players, and the rising incidence and prevalence rate of diabetic patients. According to the IDF, in 2019, the total adult population in the US with diabetes was 31.0 million, while in Canada was 2.8 million. The rising cases of diabetes are expected to increase the demand for insulin, which in turn will drive the acetonitrile market in North America.
Further, the broad applications of acetonitrile are expected to drive the market during the forecast period. For instance, Acetonitrile is used in the formation of nail polish remover. It is used in the extraction of copper as well as refining. Moreover, it is used as a solvent in electrochemical cells, chromatography chemists, and chemical reactions. It is widely used in the production of synthetic pharmaceuticals. In laboratories, acrylonitrile is used as a medium-polarity solvent which is miscible with water and also with a range of organic solvents but, it is not miscible with saturated hydrocarbons. However, a limited number of direct production facilities of acetonitrile across the region acts as a restraint to the growth of the acetonitrile market.
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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 Industry
· Competitive Landscape- BASF SE, Thermo Fisher Scientific, GFS Chemical Inc, Honeywell International Inc, Nova Molecular Technologies, Mitsubishi Chemical Corporation, and so on
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
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
