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Acetonitrile Market worth $595 million by 2028 – At a CAGR of 6.2%

Published: November 22, 2023
Author: TEXTILE VALUE CHAIN

As per the recently published report by MarketsandMarkets™, The Acetonitrile Market by Type (Derivative, Solvent), Application (Organic Synthesis, Analytical Applications, Extraction), End-use Industry (Pharmaceutical, Analytical industry, Agrochemical), Region – Global Forecast to 2028 “, is estimated at USD 439 million in 2023 and is projected to reach USD 595 million by 2028, at a CAGR of 6.2% from 2023 to 2028. Acetonitrile is an organic compound and counts among one of the most stable nitriles. It is a colorless liquid, completely soluble in water. Acetonitrile is a hazardous chemical that has adverse effects such as toxicity and reactivity on the human body. Acetonitrile is used as a solvent, derivative, or raw material/intermediate in various applications.

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  • 283 Market data Tables
  • 51 Figures
  • 233 Pages and in-depth TOC on “Acetonitrile Market – Global Forecast to 2028”

This report also provides a comprehensive analysis of the companies listed below:

Prominent companies in the acetonitrile market include INEOS AG (Switzerland.), Asahi Kasei Corporation (Japan), Nova Molecular Technologies (US), PetroChina Co. Ltd. (China), Formosa Plastic Corporation (Taiwan), ShengHong Petrochemical Group Co. Ltd. (China), Avantor Performance Materials LLC (US), Imperial Chemical Corporation (Taiwan), Tedia Company Inc. (US), Avantor Performance Materials, LLC (US), Shanghai Secco Petrochemical Company Limited (China), Qingdao Shida Chemical Co., Ltd. (China), Nantong Acetic Acid Chemical Co., Ltd. (China), and others.

Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the acetonitrile market.

Recent Developments in Acetonitrile Market Industry

  1. In July 2022, PetroChina launched a $4.52 billion program to expand a subsidiary refinery in southern China into an integrated petrochemicals complex.
  2. In April 2022, INOES AG has planned to invest in the world-scale acetonitrile manufacturing facility in Koln, Germany. This new facility aims to enhance the supply position of the company in the European region, along with catering to the healthcare sector of the region.
  3. In March 2022, Tedia Company, Inc. partnered with New York-based Newbold Enterprises Fairfield. This partnership is aiming towards the strategic expansion of Tedia’s capacity and capabilities.
  4. In August 2021, Nova Molecular Technologies, Inc. expanded its high purity-solvents business by opening a new facility in South Carolina, US. Full construction of this new facility is expected to be done by 2024.
  5. In October 2020, Nova Molecular Technologies, Inc. announced the plans for expansion of operations in the Sumter Country. This expansion includes an investment of USD 14.9 million, aiming to increase manufacturing operations.

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INEOS AG (Switzerland) – Founded in 1998 and headquartered in Rolle, Switzerland, INEOS AG is one of the largest manufacturers of acetonitrile in the world. INEOS AG offers acetonitrile through its subsidiary INEOS Nitriles. The company offers a wide range of products for business, such as petrochemicals, specialty chemicals, oil & gas, and automotive. In the nitrile product category, the company offers acetonitrile and acrylonitrile, along with other co-products that are produced by ammonia and propylene feedstock. The company comprises 36 businesses with 194 production sites located in 29 countries across the world.

Asahi Kasei Corporation
 (Japan) – Asahi Kasei Corporation is one the leading Japanese companies providing products and solutions for various industries such as fibers & textiles, chemicals, electronics, homes, and healthcare. The company offers its products through three segments that include materials, homes, and health care. Through its material segment, the company offers three grades of acetonitrile, namely, chemical grade, reagent grade, and highly purified grade, under its acetonitrile product segment. The company was founded in 1931 and is headquartered in Tokyo, Japan. The company has a strong supply chain network and a wide geographic presence across the world.

North America is expected to account for the third-largest share in 2022.

The acetonitrile market has been studied in Asia Pacific, North America, Europe, the Middle East & Africa, and Latin America. North America is one of the significant markets in the global acetonitrile market. Investments in R&D for drug discovery are one of the major factors driving the growth of the North American acetonitrile market. Other significant factors influencing the growth of this market in North America include the well-established pharmaceutical industry in the region, a large number of ongoing drug discovery activities, the presence of CROs, and inclination towards outsourcing of preclinical, clinical, and laboratory testing services by pharmaceutical and biopharmaceutical companies.

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