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Acetonitrile Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2031

Global Acetonitrile Market- (By Type – Derivative and Solvent; By Grade (Purity) – 99.99%, 99.9%, 99.8% and others; By Application – Laboratory, Agricultural Chemical, pharmaceutical and others; By End User – Agricultural Industry, Analytical Industry, Agricultural Industry, and others; and By Region) - Industry Dynamics, Market Size and Opportunity Forecast, 2031

  • Published Date: Apr-2023  |   Format: pdfpowerpointexcel  |  Report ID: AA0122128  | Delivery: 2 to 4 Hours
Acetonitrile Market

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Report AttributeDetails
Market Size Value in 2022US$ 371.0 Mn
Expected Revenue in 2031US$ 595.9 Mn
Historic Data2018-2021
Base Year2023
Forecast Period2023-2031
UnitValue (USD Mn)
Segments coveredBy Type, By Grade (Purity), By Application, By End-User, By Region
Key Companies                                                                                                                                     Asahi Kasei Corporation, Avantor Performance Materials, LLC, Concord Technology (Tianjin) Co., Ltd., Concord Technology (Tianjin) Co., Ltd., Formosa Plastic Corporation, GFS Chemicals, Inc., Honeywell Research Chemicals, Imperial Chemical Corporation, INEOS AG, Mitsubishi Chemical Corporation, Nantong Acetic Acid Chemical Co., Ltd., Nova Molecular Technologies, Inc., Pharmco-Aaper, Qingdao Shida Chemical Co., Ltd., Robinson Brothers, Shanghai Secco Petrochemical Company Limited, Standard Reagents Pvt. Ltd., Taekwang Industrial Co., Ltd, Tedia Company, Inc, Unicel, Other Prominent Players
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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 2023-2031.

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 2022.

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.