LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global acetonitrile market provides an analysis of the most important drivers expected to impact the market outlook from 2018-2022. Technavio defines a prominent driver as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global acetonitrile market will grow at a CAGR of close to 5% during the forecast period. The growth in recycled acetonitrile production is a major trend in the market.
Acetonitrile can be recycled easily from both anhydrous and aqueous wastes. Anhydrous wastes yield anhydrous acetonitrile, while aqueous wastes yield a concentrated acetonitrile-water mixture having a composition of approximately 80% acetonitrile and 20% water. Anhydrous acetonitrile cannot be obtained directly from a water mixture as acetonitrile and water form an azeotrope. But, anhydrous acetonitrile can be easily obtained from a recycled acetonitrile-water mixture. Recycling provides a highly purified mixture containing all the acetonitrile. The composition of the recovered mixture will be different depending upon the initial amounts of the acetonitrile, alcohol, and water present in the waste.
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In this report, Technavio highlights the high consumption of acetonitrile in the pharmaceutical industry as one of the key factors driving the global acetonitrile market:
High consumption of acetonitrile in the pharmaceutical industry
The popularity of acetonitrile in the pharmaceutical industry is because it is used as a reaction and purification solvent, in the synthesis of organic compounds, extraction and separation solvent, raw material for analytical reagent, high purity analytical reagent, and as a solvent for non-aqueous reaction. India and China are the major consumers of acetonitrile because they are used in the production of generic drugs. The presence of many pharmaceutical companies in India and China are fueling the demand for acetonitrile market.
“The consumption rate of acetonitrile in APAC is high because of its easy availability. The pharmaceutical industry is growing across the globe. The Americas and Europe consist of high consumer base for branded drugs. Pharmaceutical companies are investing highly in R&D for producing innovative and advanced branded drugs targeting consumers in the developed countries of the Americas and Europe. The growing pharmaceutical industry bolsters the demand for acetonitrile,” says a senior analyst at Technavio for research on specialty chemicals.
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Global acetonitrile market segmentation
This market research report segments the global acetonitrile market into the following applications (pharmaceuticals, analytical chemistry, and agrochemicals) and key regions (the Americas, APAC, and EMEA).
The pharmaceuticals segment held the largest market share in 2017, accounting for nearly 46% of the market. The market share of this segment is expected to increase to some extent during the forecast period.
APAC dominated the global acetonitrile market in 2017 by contributing to a market share of nearly 57% and is anticipated to post steady growth during the forecast period. This region will dominate the global market till 2022.
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