Acetonitrile Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2027

Global Acetonitrile Market was valued at US$ 353 Mn in 2021 and is projected to reach US$ 482.9 Mn by 2027. The market is estimated to register a CAGR of 5.4% during the forecast period 2022-2027. In terms of volume, the market is estimated to grow from 1,26,135.8 tons in 2021 to 1,76,380.6 tons by 2027, registering a CAGR of 5.7% during 2022-2027. Acetonitrile is a colorless chemical compound with the formula of CH3CN.  Acetonitrile is used to extract fatty acids and animal and vegetable oils. It is also used in petrochemical industries for extractive distillation as a solvent for spinning synthetic fiber and in casting and molding plastics. In the laboratory, acetonitrile is used in high-performance liquid chromatographic HPLC analysis and as a solvent for DNA synthesis and peptide sequencing. 

The market is majorly driven by factors such as rising demand from the pharmaceutical industry, high consumption in the production of epoxy hardeners and agrochemicals, and extensive adoption as an organic solvent in HPLC applications. Acetonitrile finds its significant application in the pharmaceutical industry as a key solvent in the manufacturing of antibiotics and drug recrystallization, owing to its exceptional physical and chemical properties like low viscosity and low freezing/boiling point. Moreover, in the past few years, high purity solvents for High-Performance Liquid Chromatography (HPLC) become increasingly popular as the mobile phase is triggered by the increasing sensitivity of HPLC systems. As such, several organic solvents, typically methanol and acetonitrile, are increasingly used in HPLC applications to elute or retain chemical classes of interest from a stationary stage. 

Further, acetonitrile finds extensive application in batteries, particularly lithium-ion batteries, to enable next-generation high-power and energy-density lithium-ion batteries, which provide extraordinarily high-ionic conductivity. Acetonitrile is also gaining vast momentum in fragrance application and specialty chemical industry over the past few years. However, the availability of substitutes like Prionil and the health concerns associated with acetonitrile poses a challenge to the global acetonitrile market.

Key Insights of the Report: 

• The latest study published by Astute Analytica analyzes the global acetonitrile market for the study period of 2017-2027; where historical years are 2017-2020, the base year is 2021, and the forecast period is 2022-2027.
• The research report offers a detailed study of market determinants including market drivers, restraints, opportunities, and trends; along with an attractive presentation in the form of impact analysis to gain a simpler and easy comparison view of all market determinants.
• The research study is a compilation of 16 chapters distributed across 283 pages with 77 lists of tables and 104 lists of figures.
• The market estimates are presented in terms of value (US$ Mn) and volume (tons).
• Along with market estimations, the market study was conducted on the basis of various economic models such as PESTLE, SWOT, and Porter’s five force models.
• Detailed value chain analysis of the industry was conducted. It includes raw material providers, acetonitrile manufacturers, distributors, and end-users.
• The competitive dashboard section includes analysis on the basis of Concentration Ratio (CR), based on market size and market presence of key companies.

Market Trends

Solvent segment leads the Global Acetonitrile Market in 2021

Based on type, the acetonitrile market is segmented into derivative and solvent. The solvent segment dominated the Global Acetonitrile Market in 2021. Growing demand for solvents in high-performance liquid chromatography (HPLC) on account of its high dipole moment and dielectric propels the growth of the solvent segment in the global market. The demand for derivatives is expected to grow at the highest CAGR over the coming years. Derivatives are used extensively to produce sulfa pyrimidine and Vitamin B1.

Pharmaceutical Industry has the fastest CAGR during the forecast period

Based on application, the acetonitrile market is segmented into laboratory, pharmaceutical, agricultural chemicals, specialty chemicals, and others. The pharmaceutical industry accounts for the major share in 2021 and is estimated to have the fastest CAGR during the forecast period. The segmental growth of the market is accredited to its application as a key solvent in the manufacturing of antibiotics due to its physical and chemical properties such as low freezing and boiling point and low viscosity. It also has low toxicity due to which it is regarded as safe over other solvents such as dichloromethane. 

The Asia Pacific dominates the Global Acetonitrile Market 

Asia-Pacific is projected to have the largest hold, with a share of 50.4% in the global acetonitrile market in 2021. The regional growth of the market is accredited to the chemical industry in the region especially in the economies such as China and India. Large investments in the pharmaceutical sector and continuous research & development activities undertaken by companies are projected to increase market opportunities for acetonitrile.

Competitive Insight

• Asahi Kasei Corporation is a global manufacturer of fiber products, chemicals, and electronics-related materials based on its core technology of chemistry.
• Avantor is a global provider of mission-critical products and services for various applications including healthcare, education & government, biopharma, and advanced technologies & applied materials industries
• Biosolve Chimie is a producer and distributor of high purity solvents, formulations, and reagents, specializing in liquid and gas phase chromatography and specialized products for organic chemistry and DNA/RNA synthesis.
• Connect Chemicals GmbH is a manufacturer and distributor of specialty chemicals which has a wide application in various industries including coatings, household & industrial care, cosmetics & personal care, metalworking, water treatment, paper, plastic, and other industries.
• INEOS is a global manufacturer of petrochemicals, specialty chemicals, and oil & gas. It comprises 36 businesses each with a major chemical company. The company further offers acrylonitrile, specialty nitriles, acrylonitrile catalyst, ammonia, and nitric acid.
• Standard Reagents Pvt. Ltd. is a chemical company, it is a manufacturer of highly pure laboratory reagents, fine chemicals, and pharmacopeial products.

Segmentation Overview of the Global Acetonitrile Market

Following are the different segments of the Global Acetonitrile Market:

By Type Segment of the Global Acetonitrile Market is sub-segmented into:

• Derivative
• Solvent

By Grade (Purity) Segment of the Global Acetonitrile Market is sub-segmented into:

• 99.99%
• 99.9%
• 99.8%
• 99.5%
• Others

By Application Segment of the Global Acetonitrile Market is sub-segmented into:

• Laboratory
  • DNA and RNA Synthesis
  • Extraction
  • High-Performance Liquid Chromatography (HPLC) Solvents
  • Organic Synthesis
• Agricultural Chemical
• Pharmaceutical
  • Synthetic Medicine
    • Insulin
    • Antibiotics
    • Vitamins
  • Extraction Solvent
• Specialty Chemicals
• Others

By End-User Segment of the Global Acetonitrile Market is sub-segmented into:

• Agricultural Industry
• Analytical Industry
• Pharmaceutical Industry
• Others

By Region Segment of the Global Acetonitrile Market is sub-segmented into:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
  • Poland
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
• South America
  • Argentina
  • Brazil
  • Rest of South America