Acetonitrile Market

The global Acetonitrile Market is valued at USD 443.2 Million in 2023 and is projected to reach a value of USD 758.4 Million by 2032 at a CAGR (Compound Annual Growth Rate) of 6.15% between 2024 and 2032.

Market Synopsis

Acetonitrile, commonly referred to as cyanomethane or methyl cyanide, is a colorless liquid. This organic nitrile is mainly produced as a by-product of acrylonitrile. The market is propelled by its extensive application in several sectors not limited to pharmaceuticals, agrochemicals and electronics. Furthermore, within the pharmaceutical sector it finds application as a solvent for chromatographic analysis and API synthesis. Due to the expanding pharmaceutical industry, the demand for acetonitrile has increased over the years, which is being driven by growing health concerns and the rising incidence of chronic diseases.

Pesticides and herbicides play crucial role in improving agricultural productivity wherein Acetonitrile serves as a solvent. With the global emphasis on increasing crop yields to meet the food demand of a growing population, the agrochemical sector's expansion is positively impacting the acetonitrile market. For the manufacturing of semiconductors and lithium-ion batteries in electronics industry acetonitrile is used. Lithium batteries and semiconductors are in high demand because of the explosive expansion of the electric vehicle.

Acetonitrile Industry Highlights

• In 2023, Asia Pacific led the market, capturing 34.6% market share due to the region's robust industrial base, significant investments in pharmaceutical manufacturing, and the growing demand for agrochemicals and laboratory chemicals
• The North America region is expected to grow at significant CAGR projected throughout the forecast period
• By Type, solvent dominated the market in 2023 with market share of 78.8% due to the extensive use of acetonitrile as a solvent in pharmaceutical synthesis, agrochemical production, and various laboratory applications
• Among various end-use industries, pharmaceutical segment accounted for the largest market share of 35.2% in the market for 2023 owing to the high demand for acetonitrile in drug development and manufacturing processes, further driven by the sector's continuous growth and innovation

Acetonitrile Market Regional Overview

China, India, and Japan are at the forefront, driving the Asia Pacific demand from USD 148.8 Million in 2023

• Asia Pacific’s dominance can be attributed to several factors, including rapid industrialization, urbanization, and the expansion of various sectors such as pharmaceuticals, agrochemicals, and electronics
• The agrochemical sector in Asia Pacific countries plays vital role, as acetonitrile is widely used as a solvent in the production of insecticides and herbicides
• Acetonitrile is essential in the electronics sector in the manufacturing of electronic components. Due to its application in the manufacturing of battery electrolytes, high-purity acetonitrile is becoming increasingly more in demand in the region due to the swift expansion of the market for electric vehicles.
• The electronics industry in the Asia Pacific region is another critical driver of acetonitrile demand. Countries like China, South Korea, and Japan, global leaders in electronics manufacturing produce a variety of gadgets, including semiconductors and lithium-ion batteries
• Particularly in China, the country has become a significant center for the production of pharmaceuticals for both domestic consumption and export
• The high demand for acetonitrile is further supported by the nation's strong infrastructure for chemical manufacture and its vast capabilities for R&D
• Acetonitrile demand is greatly increased in India due to the country's fast expanding pharmaceutical industry, which is fueled by the production of generic pharmaceuticals and rising healthcare needs

Acetonitrile End-use Industry Overview

Pharmaceutical manufacturing segment leads the market with market share of 35.2% in 2023 because of the extensive use of acetonitrile as a solvent in the synthesis of active pharmaceutical ingredients (APIs) and in chromatographic analysis

• Acetonitrile is essential for several pharmaceutical procedures, such as medication production, purification, and chromatographic analysis, due to its extraordinary solvent qualities. Since it can dissolve a large variety of organic compounds, acetonitrile is a crucial element in the synthesis of active pharmaceutical ingredients (APIs), improving both reaction efficiency and product yield
• Acetonitrile is frequently employed in drug synthesis as a solvent in chemical processes that result in the production of APIs. Its low viscosity and high polarity allow it to dissolve reactants efficiently and promote the creation of desirable products. Additionally, the low boiling point of acetonitrile makes it simple to remove from the finished product, guaranteeing great purity and lowering the possibility of contamination
• Acetonitrile is essential for the purification of medicinal substances, particularly in chromatographic methods like HPLC. HPLC is a standard method used to separate, identify, and quantify components in a mixture, and acetonitrile is often used as the mobile phase due to its excellent elution capabilities and compatibility with a wide range of detectors
• In addition, the demand for acetonitrile has been rising due to the growth of contract research and manufacturing services (CRAMS). Pharmaceutical companies are adopting more and more specialized businesses to manage their production and research to cater demands of their clients. It is anticipated that this tendency would persist due to the pharmaceutical industry's emphasis on operational flexibility and cost effectiveness

Acetonitrile Market Trends

• Rising Demand in Pharmaceuticals: The pharmaceutical industry is a major consumer of acetonitrile, particularly for drug synthesis and purification processes. Acetonitrile demand is being driven by rising generic medicine production and expanding pharmaceutical manufacturing in emerging regions
• Growth in Agrochemical Production: Acetonitrile is widely used as a solvent in the production of pesticides and herbicides. The agrochemical industry is expanding as a result of the growing demand for acetonitrile due to the increased requirement for improved agricultural yields to meet the food demands of a growing worldwide population
• Expansion of Electronics Industry: The electronics industry utilizes acetonitrile in the production of semiconductors and lithium-ion batteries. With the surge in demand for electronic devices and the growth of the electric vehicle market, the consumption of acetonitrile in this sector is expected to rise significantly
• Technological Advancements: Ongoing advancements in production technologies are leading to more efficient and cost-effective manufacturing processes for acetonitrile. Catalyst and manufacturing method innovations are improving purity and yield, which are essential for high-end applications
• Environmental and Regulatory Considerations: Increasing environmental concerns and stringent regulatory policies are pushing manufacturers to adopt greener production processes and sustainable practices. The environmental impact of acetonitrile's production and use is being lessened by this trend, which is driving the development of environmentally friendly production techniques

Global Acetonitrile Pricing Trends

During COVID-19 pandemic, a global shortage of acetonitrile has emerged due to a slowdown in manufacturing worldwide. Supply chains were disrupted by trade restrictions and consumption dropped due to global lockdowns. The pandemic caused widespread disturbance across various sectors, with some experiencing reduced production and business activity, while others faced severe consequences such as business closures and movement restrictions. Economies and industries worldwide have been affected by lockdowns, travel bans, and shutdowns, leading to disruptions in global supply chains and negatively impacting manufacturing, delivery, and sales. Both China and the USA have significantly reduced their industrial output as efforts to combat the COVID-19 virus continue. Any disruption in manufacturing and mass production inevitably impacts the production of acetonitrile.

Acetonitrile Pricing Analysis for last financial year

North America Acetonitrile Price Trends

• The North America Acetonitrile market saw an optimistic trend with rising prices during last financial year. Key factors included consistent regional demand and limited inventories, which restricted production increases to avoid material shortages. Higher prices for feedstocks like acetic acid and ammonia further supported elevated prices for Acetonitrile. Supply constraints were exacerbated by limited Acetonitrile inventory and export challenges that increased shipping costs and fuel charges, delaying consignments
• Plant shutdowns, such as Celanese Corporation's acetic acid plants, impacted material availability, causing downstream merchants to struggle with consistent demand from industries like Ethyl Acetate, Butyl Acetate, and pharmaceuticals
• Weather concerns about potential Mississippi River bottlenecks also heightened future shipment disruption fears, driving prices up. However, a dip in prices occurred due to reduced consumption, ample stockpiles, and the dollar's appreciation, leading merchants to destock previous inventory by trading at lower costs

Asia Pacific Acetonitrile Price Trends

• The Asia Pacific Acetonitrile market showed an overall optimistic trend despite an initial slight drop, influenced by global supply chain disruptions and rising freight charges in last financial year. These challenges affected Acetonitrile availability, stabilizing or increasing prices
• In Japan, notable price changes occurred, with Acetonitrile prices remaining relatively steady and increasing overall from the previous year
• Post-holiday season reduced orders in Western and Northern markets intensified producer competition, decreasing demand, and excessive inventories exerted downward pressure on prices. Declining acetic acid prices due to weak demand further impacted Acetonitrile prices
• By February 2024, demand rebounded significantly in downstream industries, particularly pharmaceuticals and extraction sectors. Lower feedstock costs boosted downstream production resilience
• Optimistic trade activity initially led traders to sell at higher costs across global markets, but plant shutdowns like Asahi Kasei Corporation's in March disrupted production, exacerbating supply constraints and further imbalanced supply and demand

Europe Acetonitrile Price Trends

• The European Acetonitrile market experienced several factors influencing pricing. Stable demand, particularly from the pharmaceutical sector, helped maintain price stability
• Fluctuations in raw material costs, especially acetic acid, also affected acetonitrile prices. In Belgium, prices initially surged but then gradually decreased at the start of the quarter due to reduced purchasing and regional inquiries before the post-holiday season
• However, trade conflicts and global shipping disruptions, including the Red Sea crisis, impacted availability and logistics, leading to potential supply chain challenges and higher transportation costs. Trade activity was a key factor in shaping market dynamics, with ongoing disruptions in the Red Sea region causing logistical challenges, delayed shipments, and extended lead times, which affected market sentiment
• Additionally, farmer protests in the Antwerp region disrupted inland transportation networks, leading to congestion, reduced truck arrivals at terminals, and delays in handling commodities until March. This situation created a supply-demand imbalance, keeping prices elevated

‹›

Report Coverage & Deliverables

PDF report & online dashboard will help you understand:

• Real-Time Data Updates:
• Competitor Benchmarking
• Market Trends Heatmap
• Custom Research Queries
• Market Sentiment Analysis
• Demographic and Geographic Insights

Book Demo

Get Access Now

Track market trends LIVE & outsmart rivals with our Premium Data Intel Tool: Vantage Point

Acetonitrile Market Dynamics

Acetonitrile is highly valued in the pharmaceutical industry due to its versatile properties as a chemical building block and solvent drives the Acetonitrile market

Acetonitrile is essential for many pharmaceutical procedures, including as drug production, purification, and chromatographic analysis, due to its broad dissolution range of chemicals. Acetonitrile is used in drug synthesis as a solvent to produce active pharmaceutical ingredients (APIs), enabling processes that could be challenging or ineffective to carry out in other solvents. Its low boiling point also makes it simple to remove from finished goods, guaranteeing excellent output and purity. Acetonitrile demand is directly increased by the expanding pharmaceutical industry, which is fueled by the creation of new therapies and a rise in the manufacturing of generic medications.

The market faces challenges from the rising demand for substitute products such as propionitrile

Propionitrile, sometimes referred to as ethyl cyanide, is becoming more and more well-liked as a substitute solvent because of its comparable chemical characteristics and uses. Propionitrile is becoming more and more popular due to its relative cost-effectiveness. Prices for acetonitrile can be affected by changes in the cost or availability of acrylonitrile, as the two products are frequently produced in tandem. Propionitrile, on the other hand, can be produced more cheaply and directly, offering a more predictable price structure. Because acetonitrile and propionitrile compete for the same applications and market share, the growing preference for propionitrile is impeding the growth of the market.

Acetonitrile Competitive Outlook

The competitive landscape of the Acetonitrile market is characterized by the presence of several key players who dominate the global market. Large corporations that dominate the market include INEOS, Asahi Kasei Corporation, and Imperial Chemical Corporation. These businesses have robust product portfolios, robust distribution systems, and substantial R&D expenditures. The competitive environment is further intensified by the fluctuations in raw material prices and stringent regulatory policies, which compel companies to continuously innovate and optimize their operational efficiencies.

The key players in the global Acetonitrile market include - Asahi Kasei Corporation, Nova Molecular Technologies, PetroChina Co. Ltd., Avantor, Performance Materials LLC, Shanghai Secco Petrochemical Company Limited, Qingdao Shida Chemical Co. Ltd., Nantong Acetic Acid Chemical Co. Ltd., INEOS AG, ShengHong Petrochemical Group Co. Ltd., Formosa Plastic Corporation, Avantor Performance Materials LLC, Imperial Chemical Corporation, Tedia Company Inc. among others.

Acetonitrile Market Developments

• May 2023: Jindal Specialty Chemicals Private Limited, a subsidiary of the Jindal Group, has invested over Rs. 100 crore to set up an acetonitrile production facility in Kheda, Gujarat. The company, which has a rich legacy spanning three decades, now has a production capacity of 10,000 tonnes per annum for acetonitrile, a solvent widely used in the pharmaceutical, agrochemical, and laboratory chemical sectors for synthesis purposes.
• July 2022: PetroChina launched a $4.52 billion program to expand a subsidiary refinery in southern China into an integrated petrochemicals complex.
• April 2022: INEOS AG announced plans to invest in a world-scale acetonitrile manufacturing facility in Koln, Germany. This new facility aims to enhance the company's supply position in the European region and cater to the region's healthcare sector.
• March 2022: Tedia Company, Inc. partnered with New York-based Newbold Enterprises Fairfield to strategically expand Tedia's capacity and capabilities.
• August 2023: Nova Molecular Technologies, Inc. expanded its high-purity solvents business by opening a new facility in South Carolina, US. Full construction of this facility is expected to be completed by 2024.

The global Acetonitrile market can be categorized as Product, End User and Region.

Frequently Asked Questions (FAQs)?

1.How big is the market? What will be the global Acetonitrile market size by 2032?

The global Acetonitrile market is valued at $443.2 billion in 2023 and is anticipated to reach $758.4 billion by 2032, growing at a CAGR of 6.15% from 2024 to 2032.

2.What is acetonitrile used for?

Acetonitrile is the simplest form of organic nitrile. This colorless, polar aprotic solvent is utilized in organic synthesis and purification processes, as well as for extracting fatty acids from oils. Acetonitrile is also used in the production of pharmaceuticals, perfumes, rubber products, pesticides, acrylic nail removers, and batteries.

3.Why is acetonitrile hazardous?

Acetonitrile is hazardous primarily because it is highly flammable and can easily ignite when exposed to heat, sparks, or flames. When heated, it releases highly toxic hydrogen cyanide fumes.

Short-term exposure to acetonitrile can cause irritation of the eyes, nose, throat, and lungs, along with symptoms similar to cyanide poisoning, including headache, nausea, dizziness, chest pain, and potentially fatal effects.

Long-term exposure can result in thyroid enlargement, chronic headaches, numbness, dizziness, and skin inflammation. It can also negatively impact the liver, lungs, kidneys, and central nervous system, and may cause birth defects and lower birth weight, indicating pregnant women should avoid contact.

4.What is the industrial production of acetonitrile?

Acetonitrile is primarily produced as a byproduct of acrylonitrile manufacturing through the Sohio process, which involves the ammoxidation of propylene. During this process, hydrogen cyanide is also released as a byproduct.

5.What is another name for acetonitrile?

Acetonitrile is a volatile organic compound, also known as cyanomethane or methanecarbonitrile.

6.Why ACN is used in HPLC?

Acetonitrile is often used in HPLC because of its low UV cutoff, lower viscosity (methanol forms highly viscous mixtures with water at certain concentrations), and higher boiling point.