IMARC Group, a leading market research company, has recently released a report titled “Acetonitrile Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” The study provides a detailed analysis of the industry, including the global acetonitrile market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How Big is the Acetonitrile Market?
The global acetonitrile market size reached 155.8 Kilo Tons in 2023. Looking forward, IMARC Group expects the market to reach 226.3 Kilo Tons by 2032, exhibiting a growth rate (CAGR) of 4.1% during 2024-2032.
What is Acetonitrile?
Acetonitrile, also known as methyl cyanide or ethanenitrile, is an organic compound and is a colourless liquid with a sweet, fruity odor. Acetonitrile is highly soluble in water and is one of the most organic solvents, which makes it a versatile compound. One of the main characteristics of acetonitrile is its high boiling point and low freezing point, which makes it useful in industries requiring solvents with a wide temperature range. It also possesses good chemical stability and is relatively non-reactive, making it a suitable solvent for numerous reactions and processes. At present, acetonitrile finds application in pharmaceutical, agrochemical, rubber, and battery industries.
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What are the Growth Prospects and Trends in the Acetonitrile Industry?
The expanding pharmaceutical sector across the globe represents one of the key factors driving the market for acetonitrile toward growth. The pharmaceutical industry utilizes acetonitrile as a solvent for the synthesis of pharmaceutical compounds and as an extraction agent, which is driving the market growth significantly. In line with this, acetonitrile is extensively used in the drug manufacturing processes, which is contributing to the market growth. In addition to this, acetonitrile is consumed as a stabilizer in the production of rubber products, including automotive components, tires, and seals, which is contributing to the market growth. The steadily expanding automotive industry is acting as a major growth-inducing factor. In line with this, the increasing product demand in the automotive industry for producing acrylonitrile butadiene styrene (ABS) plastic with enhanced chemical resistance and mechanical strength is influencing the market growth positively.
Moreover, acetonitrile is widely used as a solvent in chemical synthesis reactions, including the production of various chemicals, agrochemicals, and specialty chemicals. This is driving the market toward growth significantly. Acetonitrile finds extensive applications in the electronics industry for cleaning and degreasing electronic components. Coupled with this, the rapid expansion of the electronics industry, particularly in the developing economies, is boosting the demand for acetonitrile, thereby contributing to the market growth. Acetonitrile further finds application as a solvent in chromatography and other analytical techniques.
This, along with the increasing number of analytical laboratories worldwide is facilitating the demand for acetonitrile, thus propelling the market growth. The rapid industrialization and economic growth in emerging economies are creating favourable market conditions for acetronitrile due to increased manufacturing activities, leading the market toward growth. The widescale usage of the compound in personal care and cosmetic products is further driving the market toward growth. The market is also being driven by the rising application of acetonitrile to extract oleochemicals, such as fatty acids, from animal and vegetable oils in laboratories. Other factors, such as advancements in lithium-ion batteries, extensive research and development (R&D) activities, and the rising demand for industrial solvents, are creating a positive outlook for the market across the globe.
Who are the Key Players Operating in the Acetonitrile Market?
The competitive landscape of the global acetonitrile market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Ineos AG
- Asahi Kasei Corporation
- Formosa Plastic Corporation
- Imperial Chemical Corporation
- Nova Molecular Technologies, Inc.
- Tedia Company, Inc.
- Avantor Performance Materials, LLC
- Shanghai Secco Petrochemical Company Limited
- Qingdao Shida Chemical Co., Ltd.
- Nantong Acetic Acid Chemical Co., Ltd.
- Taekwang Industrial Co., Ltd
What is Included in Market Segmentation?
The report has segmented the global acetonitrile market on the basis of key regions and end-use.
Analysed by End Use:
- Pharmaceuticals
- Analytical Industry
- Agrochemicals
- Extraction Industry
- Others
Regional Insights:
- Asia-Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
Browse the full report with TOC & List of Figures: https://www.imarcgroup.com/acetonitrile-technical-material-market-report
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