H1 2023: Major producers of Acetonitrile during H1 2023 were INEOS Nitriles and Asahi Kasei Corporation, and Shanghai SECCO Petrochemical Company Limited. In May 2023, Jindal Speciality Chemicals Private Limited, a leading chemical producer in India, invested USD 12 million (INR 100 crores) to set up an Acetonitrile unit, located at Kheda, Gujarat, India. The company produces acetonitrile and has a 10 thousand tonnes per year production capacity. The company promoted its product in India, but it anticipates a 20 to 25 percent increase in export revenue by the year 2024. In H1 2023, the APAC region, particularly China, continued to show a lower market trend for acetonitrile. Prices have been following the same pattern since the beginning of January 2023, which was due to sluggish demand from the downstream pharmaceutical and other sectors. Additionally, decreased propylene costs and a surplus of inventories with low utilization rates further contributed to the acetonitrile market sentiments being on the poor side. Although, exports to the Western nations were poor and domestic sales declined in China. In the North American market, Acetonitrile prices continuously declined in the first three months of 2023. In the US, the price of acetonitrile declined precipitously till the end of March 2023. The main reason was the decline in domestic demand and the abundance of stocks in the US market. Due to an increase in inquiries in the US market from the downstream pharmaceutical and petrochemical industries, the price of acetonitrile moderately increased from April 2023 till June 2023.
H1 2022: Significant players in the global Acetonitrile market during H1 2022 were INEOS Nitriles, Asahi Kasei Corporation, and Shanghai SECCO Petrochemical Company Limited. Although, INEOS Nitriles acquired the position of the top producer of Acetonitrile in H1 2022. INEOS Nitriles produced approximately 10% of the total Acetonitrile during H1 2022. To meet the global growing demand for acetonitrile, INEOS Nitriles announced in April 2022 about a greenfield acetonitrile production facility at Köln, Germany. The new site will have a production capacity of 15 thousand tonnes per annum and will be using INEOS' latest process technology which aims at eco-friendly aspect of chemical industries. INEOS Nitriles also announced a temporarily shutdown of its plant at Green Lake, Texas in March 2022. Based on region, Asia Pacific acquired the position of the largest consumer of Acetonitrile during H1 2022. Acetonitrile prices rose in January 2022 due to high prices of raw material ammonia and propene in the region. The raw material price of ammonia kept on rising in the Asian market till March 2022 due to the rise of Omicron infection and increasing demand for disinfectant in Asia. However, the acetonitrile prices began to fall in China near the end of April 2022 due to weak demand from the Chinese market.
H2 2022: INEOS Nitriles also announced reopening of its plant at Green Lake, Texas in November 2022. In H2 2022, Asian market depicted a mixed scenario of acetonitrile. In July 2022, there was a weak US dollar exchange rate and an overall slow global economy which caused a significant slowdown of acetonitrile market. In addition, limited supply and disrupted business momentum had positively supported the price trend of acetonitrile in China. In addition, weak demand of acetonitrile in China caused the market to go down in July 2022. Although, acetonitrile prices increased slightly in the middle of August 2022 due to moderate demand in the Asian market. However, prices fell again in early September 2022. In the Asia Pacific region, acetonitrile prices continued to trend downwards from September 2022. However, acetonitrile prices fell in October 2022 due to a significant drop in traders’ demands. Moreover, China's manufacturing activity, one of the key components of the country's economy, had weakened since the beginning of November 2022. The price trend in Europe was similar to Asia Pacific region, prices began to fall from October 2022, especially in Belgium. However, the prices started to decline significantly from early November to December 2022 because of poor acetonitrile consumption by the European market.
The global Acetonitrile market stood at approximately 180 thousand tonnes in 2022 and is expected to grow at a CAGR of 4.08% during the forecast period until 2032. Growing usage of Acetonitrile as a solvent in the pharmaceutical items has grown enormously in the recent years and is anticipated to be the primary market driver in the forecast period as well.
Acetonitrile is a chemical compound with formula CH₃CN. It is colorless, flammable, and volatile chemical. It is the most basic organic nitrile. This chemical is compatible with the majority of organic solvents. It is produced as a byproduct of the production of acrylonitrile. Although, Ammoxidation process is the most commonly employed process for synthesizing Acetonitrile. Acetonitrile is employed as a polar aprotic solvent in the purification of butadiene. It is used to manufacture pesticides as well. Its applications include for manufacturing pharmaceuticals, plastics casting and molding, fragrance, vegetable and animal oil fatty acid extraction, and other industries.
The main end-use for acetonitrile is in the pharmaceutical industry, which employs it as a reagent, reaction solution, or extraction liquid. Cortisone, Vitamins A and B, carbonate medicines, and certain amino acids are synthesized using acetonitrile as a precursor. This industry is expected to create a huge demand of Acetonitrile in the forecast period. Additionally, the high-performance liquid chromatography (HPLC) also is an active consumer of Acetonitrile wherein this chemical is employed as a mobile phase, contributing to the growing demand of Acetonitrile in the forecast period. In the pharmaceutical industry, the separation of chiral systems offers significant growth potential for HPLC systems. Furthermore, its application for purification of butadiene also adds to the market expansion. The global Acetonitrile market is anticipated to reach approximately 270 thousand tonnes by 2032.
Based on region, Asia Pacific is the largest consumer of the Acetonitrile. In 2022, this region held a market share of around 55% of the world's acetonitrile market. Due to rapid industrialization, the demand of medicines is anticipated to rise, resulting in market to expand by 2032. Europe stands as the second largest consumer of Acetonitrile. Furthermore, Asia Pacific is also the highest producer of Acetonitrile, with China as the top producer.
Based on the end-user industry, the Acetonitrile market is segmented into Pharmaceuticals, Analytical Industry, Extraction, and Others. Among these, Pharmaceuticals is dominating the market and consumed approximately 70% of the market in 2022. Acetonitrile is used as a solvent to produce insulin and antibiotics, such as third-generation cephalosporins. The usage of Acetonitrile in HPLC Solvents and Extraction agent in DNA & RNA synthesis are also impressive applications.
Significant companies for Global Acetonitrile market are Ineos Nitriles, Asahi Kasei Corporation, Jilin Petrochemical Company, Shanghai SECCO Petrochemical Company Limited, Nantong Acetic Acid Chemical Co., Ltd, Balaji Amines, AnQore, Jiangsu Sailboat Petrochemical Co., Ltd, Sinopec, Formosa Plastics Corporation, Shandong Shida Hongyi Chemical Co., Ltd, Zibo Jinma Chemical Factory, Hebi Saike Chemical Co., Ltd., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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The objective of the Study:
• To assess the demand-supply scenario of Acetonitrile, which covers the production, demand, and supply of Acetonitrile around the globe.
• To analyze and forecast the market size of Acetonitrile.
• To classify and forecast the Global Acetonitrile market based on end-use and regional distribution.
• To examine global competitive developments such as new capacity expansions, mergers & acquisitions, etc., of the Acetonitrile market.
To extract data for the Global Acetonitrile market, primary research surveys were conducted with Acetonitrile manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for the Global Acetonitrile market over the coming years.
ChemAnalyst calculated Acetonitrile demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Acetonitrile across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Acetonitrile manufacturers and other stakeholders
• Organizations, forums and alliances related to Acetonitrile distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Acetonitrile manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Acetonitrile market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
180 thousand tonnes
Market size Volume by 2032
270 thousand tonnes
Growth Rate
CAGR of 4.08% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Policy and Regulatory Landscape.
Segments covered
By End-Use: (Pharmaceuticals, Analytical Industry, Extraction, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Acetonitrile market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Acetonitrile.
3. Capacity By Location
To better understand the regional supply of Acetonitrile by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Acetonitrile by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Pharmaceuticals, Analytical Industry, Extraction, and Others) are creating a market and the forecast for the growth of the Acetonitrile market.
7. Demand by Region
Analyzing the change in demand of Acetonitrile in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Acetonitrile. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Acetonitrile.
10. Company Share
Figure out what proportion of the market share of Acetonitrile is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Acetonitrile.
12. Policy and Regulatory Landscape
Gain a comprehensive understanding of the policy and regulatory landscape within the Acetonitrile market.
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It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the global market size of Acetonitrile in terms of volume for 2022?
Ans:
The global market size of Acetonitrile was approximately 180 thousand tonnes in 2022, and it is expected to soar with a CAGR of 4.08% in the forecast period.
Q2.
What are the major end-use industries of Acetonitrile?
Ans:
Acetonitrile is used in a wide range of end use industries Pharmaceuticals, Analytical Industry, Extraction, and Others.
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