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:
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
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:
By Grade (Purity) Segment of the Global Acetonitrile Market is sub-segmented into:
By Application Segment of the Global Acetonitrile Market is sub-segmented into:
By End-User Segment of the Global Acetonitrile Market is sub-segmented into:
By Region Segment of the Global Acetonitrile Market is sub-segmented into:
| Report Attribute | Details |
|---|---|
| Market Size Value in 2021 | US$ 353 Mn |
| Expected Revenue in 2027 | US$ 482.9 Mn |
| Historic Data | 2017-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2027 |
| Unit | Value (USD Mn) |
| CAGR | 5.4% |
| Segments covered | By Type, Grade (Purity), Application, End-User, and region |
| Key Companies | Asahi Kasei Corporation, Avantor, Biosolve Chimie, Connect Chemicals GmbH, and other prominent players. |
| Customization Scope | Get your customized report as per your preference. Ask for customization |
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 and as a solvent for spinning synthetic fiber and in casting and molding plastics.
The Global Acetonitrile Market is estimated to expand at a CAGR of 5.4% during the forecast period 2022-2027.
Global acetonitrile market is segmented on the basis of type, grade, application, end user and by region.
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.
High consumption in production of epoxy hardeners and agrochemicals and extensive adoption as organic solvent in HPLC applications are driving the global acetonitrile market.
Availability of substitutes like Prionil and health concerns associated with acetonitrile poses a challenge in the global acetonitrile market.
Acetonitrile finds extensive application in batteries, particularly in lithium-ion batteries, to enable next-generation high-power and energy-density lithium-ion batteries, which provides extraordinarily high-ionic ionic conductivity.
The solvent segment dominated the global acetonitrile market in 2021.
In terms of grade, 99.9% grade segment is estimated to have the highest market share in the global acetonitrile market.
Pharmaceutical industry is the highest shareholder in the global acetonitrile market.
Asia Pacific dominates the global acetonitrile market.
The key market players are Asahi Kasei Corporation, Avantor Performance Materials, LLC, Biosolve Chimie, Formosa Plastic Corporation, GFS Chemicals, Inc., Honeywell Research Chemicals, and Mitsubishi Chemical Corporation among others.
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| Report ID: AA0122128 
