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Acetonitrile Market Size, Share & Trends Analysis Report By Type Solvent, and Derivative), By Application (Analytical Applications, Organic Synthesis, Extraction, and Others), By End-user, By Regional Outlook and Forecast, 2024 - 2031

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    Report

  • 337 Pages
  • April 2024
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5972554
The Global Acetonitrile Market size is expected to reach $664.8 million by 2031, rising at a market growth of 6.1% CAGR during the forecast period. In the year 2023, the market attained a volume of 1864.8 hundred Tonnes, experiencing a growth of 14.9% (2020-2023).

The Asia-Pacific region witnessed robust industrial expansion, particularly in sectors such as pharmaceuticals, agrochemicals, electronics, and specialty chemicals, major consumers of acetonitrile. Consequently, the Asia-Pacific market captured nearly half of the revenue share of the market in 2023. In term of volume, Japan utilized 166.48 hundred Tonnes of Acetonitrile in the market in 2023. The region’s growing population, rising disposable incomes, and urbanization fueled demand for pharmaceuticals, crop protection chemicals, electronic products, and specialty chemicals, driving the need for acetonitrile as a key chemical intermediate and solvent.



Acetonitrile is a primary solvent and intermediate in synthesizing various pesticides that control agricultural crops’ pests, diseases, and weeds. Pesticide formulations often require precise chemical reactions and purification steps, for which acetonitrile provides an ideal medium. Its ability to dissolve a wide range of organic compounds and facilitate synthesis processes makes it indispensable for manufacturing pesticides tailored to address specific agricultural challenges. Therefore, these factors can help in the expansion of the market.

Additionally, Research and development activities in life sciences, particularly in biotechnology and biochemistry, are pivotal in driving the demand for acetonitrile. Peptides are vital molecules in biological research, pharmaceuticals, and biotechnology. Acetonitrile is frequently used as a solvent in peptide synthesis processes, where it helps dissolve and react with peptide-building blocks, facilitating the formation of peptide bonds. Hence, owing to these factors, there will be enhanced demand for acetonitrile in the coming years.

However, as sustainability becomes a focal point for industries worldwide, there’s a growing preference for solvents and processes with minimal environmental impact. This shift is primarily driven by sustainability initiatives implemented by governments, businesses, and consumers, as well as increasingly stringent regulatory requirements to reduce pollution and promote eco-friendly practices. Alternative solvents, such as ethanol, ethyl acetate, and dimethyl carbonate, are gaining traction due to their lower toxicity, reduced environmental footprint, and often comparable performance to acetonitrile in various applications. Therefore, these factors can reduce demand for acetonitrile in the coming years.

Type Outlook

Based on type, the market is bifurcated into derivative and solvent. In 2023, the solvent segment garnered 61% revenue share in the market. Also, the Russia market utilized 70.08 hundred Tonnes of acetonitrile in the market in 2023. Acetonitrile’s excellent solvating properties, low viscosity, and high chemical stability make it an ideal solvent for dissolving and recrystallizing organic compounds, facilitating chemical reactions, and purifying reaction mixtures. Thus, these aspects will drive the expansion of the segment.



Application Outlook

On the basis of application, the market is divided into organic synthesis, analytical applications, extraction, and others. The organic synthesis segment recorded a 32.5% revenue share in the market in 2023. Additionally, the Spain market utilized 16.95 hundred Tonnes of acetonitrile as solvent in 2023. Acetonitrile is crucial in synthesizing specialty chemicals, including solvents, polymer precursors, and performance additives. Therefore, the segment will expand rapidly in the coming years.

End-user Outlook

Based on end-user, the market is divided into pharmaceutical, analytical industry, agrochemical, and others. In 2023, the pharmaceutical segment witnessed 38.8% revenue share in the market. Also, the Italy market utilized 10.26 hundred Tonnes of acetonitrile in the pharmaceutical market in 2023. The pharmaceutical industry’s focus on research and development (R&D) activities to discover and develop new drugs, biologics, and specialty pharmaceuticals has driven demand for acetonitrile-based products. Thus, these aspects will lead to enhanced demand in the segment.

Regional Outlook

By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The North America segment procured a 22.5% revenue share in the market in 2023. Also, the Mexico market utilized 32.1 hundred Tonnes of acetonitrile in the market in 2023. With North America being home to numerous pharmaceutical companies, research institutions, and academic centers, there has been a consistent demand for acetonitrile for drug development, formulation, and quality control. Hence, owing to these factors, the segment will witness increased demand in the coming years.

List of Key Companies Profiled

  • Honeywell International, Inc
  • Thermo Fisher Scientific, Inc.
  • INEOS Group Holdings S.A
  • Asahi Kasei Corporation
  • PetroChina Company Limited (China National Petroleum Corporation)
  • Formosa Plastics Group
  • Avantor, Inc.
  • Nantong Acetic Acid Chemical Co., Ltd.
  • Neuchem Inc.
  • Nova Molecular Technologies, Inc.

Market Report Segmentation

By Type (Volume, Hundred Tonnes, USD Million, 2020-2031)
  • Solvent
  • Derivative
By Application (Volume, Hundred Tonnes, USD Million, 2020-2031)
  • Analytical Applications
  • Organic Synthesis
  • Extraction
  • Others
By End-user (Volume, Hundred Tonnes, USD Million, 2020-2031)
  • Pharmaceutical
  • Analytical Industry
  • Agrochemical
  • Others
By Geography (Volume, Hundred Tonnes, USD Million, 2020-2031)
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Acetonitrile Market, by Type
1.4.2 Global Acetonitrile Market, by Application
1.4.3 Global Acetonitrile Market, by End-user
1.4.4 Global Acetonitrile Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter’s Five Forces Analysis
Chapter 4. Global Acetonitrile Market by Type
4.1 Global Solvent Market by Region
4.2 Global Derivative Market by Region
Chapter 5. Global Acetonitrile Market by Application
5.1 Global Analytical Applications Market by Region
5.2 Global Organic Synthesis Market by Region
5.3 Global Extraction Market by Region
5.4 Global Others Market by Region
Chapter 6. Global Acetonitrile Market by End-user
6.1 Global Pharmaceutical Market by Region
6.2 Global Analytical Industry Market by Region
6.3 Global Agrochemical Market by Region
6.4 Global Others Market by Region
Chapter 7. Global Acetonitrile Market by Region
7.1 North America Acetonitrile Market
7.1.1 North America Acetonitrile Market by Type
7.1.1.1 North America Solvent Market by Country
7.1.1.2 North America Derivative Market by Country
7.1.2 North America Acetonitrile Market by Application
7.1.2.1 North America Analytical Applications Market by Country
7.1.2.2 North America Organic Synthesis Market by Country
7.1.2.3 North America Extraction Market by Country
7.1.2.4 North America Others Market by Country
7.1.3 North America Acetonitrile Market by End-user
7.1.3.1 North America Pharmaceutical Market by Country
7.1.3.2 North America Analytical Industry Market by Country
7.1.3.3 North America Agrochemical Market by Country
7.1.3.4 North America Others Market by Country
7.1.4 North America Acetonitrile Market by Country
7.1.4.1 US Acetonitrile Market
7.1.4.1.1 US Acetonitrile Market by Type
7.1.4.1.2 US Acetonitrile Market by Application
7.1.4.1.3 US Acetonitrile Market by End-user
7.1.4.2 Canada Acetonitrile Market
7.1.4.2.1 Canada Acetonitrile Market by Type
7.1.4.2.2 Canada Acetonitrile Market by Application
7.1.4.2.3 Canada Acetonitrile Market by End-user
7.1.4.3 Mexico Acetonitrile Market
7.1.4.3.1 Mexico Acetonitrile Market by Type
7.1.4.3.2 Mexico Acetonitrile Market by Application
7.1.4.3.3 Mexico Acetonitrile Market by End-user
7.1.4.4 Rest of North America Acetonitrile Market
7.1.4.4.1 Rest of North America Acetonitrile Market by Type
7.1.4.4.2 Rest of North America Acetonitrile Market by Application
7.1.4.4.3 Rest of North America Acetonitrile Market by End-user
7.2 Europe Acetonitrile Market
7.2.1 Europe Acetonitrile Market by Type
7.2.1.1 Europe Solvent Market by Country
7.2.1.2 Europe Derivative Market by Country
7.2.2 Europe Acetonitrile Market by Application
7.2.2.1 Europe Analytical Applications Market by Country
7.2.2.2 Europe Organic Synthesis Market by Country
7.2.2.3 Europe Extraction Market by Country
7.2.2.4 Europe Others Market by Country
7.2.3 Europe Acetonitrile Market by End-user
7.2.3.1 Europe Pharmaceutical Market by Country
7.2.3.2 Europe Analytical Industry Market by Country
7.2.3.3 Europe Agrochemical Market by Country
7.2.3.4 Europe Others Market by Country
7.2.4 Europe Acetonitrile Market by Country
7.2.4.1 Germany Acetonitrile Market
7.2.4.1.1 Germany Acetonitrile Market by Type
7.2.4.1.2 Germany Acetonitrile Market by Application
7.2.4.1.3 Germany Acetonitrile Market by End-user
7.2.4.2 UK Acetonitrile Market
7.2.4.2.1 UK Acetonitrile Market by Type
7.2.4.2.2 UK Acetonitrile Market by Application
7.2.4.2.3 UK Acetonitrile Market by End-user
7.2.4.3 France Acetonitrile Market
7.2.4.3.1 France Acetonitrile Market by Type
7.2.4.3.2 France Acetonitrile Market by Application
7.2.4.3.3 France Acetonitrile Market by End-user
7.2.4.4 Russia Acetonitrile Market
7.2.4.4.1 Russia Acetonitrile Market by Type
7.2.4.4.2 Russia Acetonitrile Market by Application
7.2.4.4.3 Russia Acetonitrile Market by End-user
7.2.4.5 Spain Acetonitrile Market
7.2.4.5.1 Spain Acetonitrile Market by Type
7.2.4.5.2 Spain Acetonitrile Market by Application
7.2.4.5.3 Spain Acetonitrile Market by End-user
7.2.4.6 Italy Acetonitrile Market
7.2.4.6.1 Italy Acetonitrile Market by Type
7.2.4.6.2 Italy Acetonitrile Market by Application
7.2.4.6.3 Italy Acetonitrile Market by End-user
7.2.4.7 Rest of Europe Acetonitrile Market
7.2.4.7.1 Rest of Europe Acetonitrile Market by Type
7.2.4.7.2 Rest of Europe Acetonitrile Market by Application
7.2.4.7.3 Rest of Europe Acetonitrile Market by End-user
7.3 Asia Pacific Acetonitrile Market
7.3.1 Asia Pacific Acetonitrile Market by Type
7.3.1.1 Asia Pacific Solvent Market by Country
7.3.1.2 Asia Pacific Derivative Market by Country
7.3.2 Asia Pacific Acetonitrile Market by Application
7.3.2.1 Asia Pacific Analytical Applications Market by Country
7.3.2.2 Asia Pacific Organic Synthesis Market by Country
7.3.2.3 Asia Pacific Extraction Market by Country
7.3.2.4 Asia Pacific Others Market by Country
7.3.3 Asia Pacific Acetonitrile Market by End-user
7.3.3.1 Asia Pacific Pharmaceutical Market by Country
7.3.3.2 Asia Pacific Analytical Industry Market by Country
7.3.3.3 Asia Pacific Agrochemical Market by Country
7.3.3.4 Asia Pacific Others Market by Country
7.3.4 Asia Pacific Acetonitrile Market by Country
7.3.4.1 China Acetonitrile Market
7.3.4.1.1 China Acetonitrile Market by Type
7.3.4.1.2 China Acetonitrile Market by Application
7.3.4.1.3 China Acetonitrile Market by End-user
7.3.4.2 Japan Acetonitrile Market
7.3.4.2.1 Japan Acetonitrile Market by Type
7.3.4.2.2 Japan Acetonitrile Market by Application
7.3.4.2.3 Japan Acetonitrile Market by End-user
7.3.4.3 India Acetonitrile Market
7.3.4.3.1 India Acetonitrile Market by Type
7.3.4.3.2 India Acetonitrile Market by Application
7.3.4.3.3 India Acetonitrile Market by End-user
7.3.4.4 South Korea Acetonitrile Market
7.3.4.4.1 South Korea Acetonitrile Market by Type
7.3.4.4.2 South Korea Acetonitrile Market by Application
7.3.4.4.3 South Korea Acetonitrile Market by End-user
7.3.4.5 Singapore Acetonitrile Market
7.3.4.5.1 Singapore Acetonitrile Market by Type
7.3.4.5.2 Singapore Acetonitrile Market by Application
7.3.4.5.3 Singapore Acetonitrile Market by End-user
7.3.4.6 Malaysia Acetonitrile Market
7.3.4.6.1 Malaysia Acetonitrile Market by Type
7.3.4.6.2 Malaysia Acetonitrile Market by Application
7.3.4.6.3 Malaysia Acetonitrile Market by End-user
7.3.4.7 Rest of Asia Pacific Acetonitrile Market
7.3.4.7.1 Rest of Asia Pacific Acetonitrile Market by Type
7.3.4.7.2 Rest of Asia Pacific Acetonitrile Market by Application
7.3.4.7.3 Rest of Asia Pacific Acetonitrile Market by End-user
7.4 LAMEA Acetonitrile Market
7.4.1 LAMEA Acetonitrile Market by Type
7.4.1.1 LAMEA Solvent Market by Country
7.4.1.2 LAMEA Derivative Market by Country
7.4.2 LAMEA Acetonitrile Market by Application
7.4.2.1 LAMEA Analytical Applications Market by Country
7.4.2.2 LAMEA Organic Synthesis Market by Country
7.4.2.3 LAMEA Extraction Market by Country
7.4.2.4 LAMEA Others Market by Country
7.4.3 LAMEA Acetonitrile Market by End-user
7.4.3.1 LAMEA Pharmaceutical Market by Country
7.4.3.2 LAMEA Analytical Industry Market by Country
7.4.3.3 LAMEA Agrochemical Market by Country
7.4.3.4 LAMEA Others Market by Country
7.4.4 LAMEA Acetonitrile Market by Country
7.4.4.1 Brazil Acetonitrile Market
7.4.4.1.1 Brazil Acetonitrile Market by Type
7.4.4.1.2 Brazil Acetonitrile Market by Application
7.4.4.1.3 Brazil Acetonitrile Market by End-user
7.4.4.2 Argentina Acetonitrile Market
7.4.4.2.1 Argentina Acetonitrile Market by Type
7.4.4.2.2 Argentina Acetonitrile Market by Application
7.4.4.2.3 Argentina Acetonitrile Market by End-user
7.4.4.3 UAE Acetonitrile Market
7.4.4.3.1 UAE Acetonitrile Market by Type
7.4.4.3.2 UAE Acetonitrile Market by Application
7.4.4.3.3 UAE Acetonitrile Market by End-user
7.4.4.4 Saudi Arabia Acetonitrile Market
7.4.4.4.1 Saudi Arabia Acetonitrile Market by Type
7.4.4.4.2 Saudi Arabia Acetonitrile Market by Application
7.4.4.4.3 Saudi Arabia Acetonitrile Market by End-user
7.4.4.5 South Africa Acetonitrile Market
7.4.4.5.1 South Africa Acetonitrile Market by Type
7.4.4.5.2 South Africa Acetonitrile Market by Application
7.4.4.5.3 South Africa Acetonitrile Market by End-user
7.4.4.6 Nigeria Acetonitrile Market
7.4.4.6.1 Nigeria Acetonitrile Market by Type
7.4.4.6.2 Nigeria Acetonitrile Market by Application
7.4.4.6.3 Nigeria Acetonitrile Market by End-user
7.4.4.7 Rest of LAMEA Acetonitrile Market
7.4.4.7.1 Rest of LAMEA Acetonitrile Market by Type
7.4.4.7.2 Rest of LAMEA Acetonitrile Market by Application
7.4.4.7.3 Rest of LAMEA Acetonitrile Market by End-user
Chapter 8. Company Profiles
8.1 Honeywell International, Inc.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expenses
8.1.5 SWOT Analysis
8.2 Thermo Fisher Scientific, Inc.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 SWOT Analysis
8.3 INEOS Group Holdings S.A.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Recent strategies and developments:
8.3.4.1 Acquisition and Mergers:
8.3.5 SWOT Analysis
8.4 Asahi Kasei Corporation
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expenses
8.4.5 SWOT Analysis
8.5 PetroChina Company Limited (China National Petroleum Corporation)
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expenses
8.5.5 SWOT Analysis
8.6 Formosa Plastics Group
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 SWOT Analysis
8.7 Avantor, Inc.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Regional Analysis
8.7.4 SWOT Analysis
8.8 Nantong Acetic Acid Chemical Co., Ltd.
8.8.1 Company Overview
8.9 Neuchem Inc.
8.9.1 Company Overview
8.10. Nova Molecular Technologies, Inc.
8.10.1 Company Overview
Chapter 9. Winning imperatives of Acetonitrile Market

Companies Mentioned

  • Honeywell International, Inc
  • Thermo Fisher Scientific, Inc.
  • INEOS Group Holdings S.A
  • Asahi Kasei Corporation
  • PetroChina Company Limited (China National Petroleum Corporation)
  • Formosa Plastics Group
  • Avantor, Inc.
  • Nantong Acetic Acid Chemical Co., Ltd.
  • Neuchem Inc.
  • Nova Molecular Technologies, Inc.

Methodology

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