Acetonitrile Market deals with a colorless chemical compound called Acetonitrile and can otherwise also be known as methyl cyanide or cyanomethane. Acetonitrile is the basic form of the nitrile family. There is no need to prepare this compound separately as it is prepared as a by-product of acrylonitrile. It is utilized as a polar aprotic solvent in organic synthesis and for the purpose of butadiene purification.
Acetonitrile is used extensively in the pharmaceutical industry for synthesizing new medicaments and vitamins. It is also used in synthesization of pesticides and vitamins. It is widely used in battery applications because of its relatively high dielectric constant and ability to dissolve electrolytes. For similar reasons, it is a popular solvent in cyclic voltammetry.
The acetonitrile compound is essential in the development of a number of pharmaceutical products. Hence the acetonitrile market is expected to witness a considerable growth during the forecast period. The need of acetonitrile in generic drugs and in pharmaceutical industry boosts the growth and demand of the Acetonitrile market.
Countries like India and china are hubs for the development of generic drugs and acts as key driver for the Acetonitrile Market growth. Asia Pacific leads the market in terms of production. North America and Europe will be the respective leading contributors to the market in terms of consumption during the forecast period.
As the product is a byproduct of another substance, it is available in less quantity which results in high cost for purchasing. In such a case, pharmaceutical companies would rather look at a compound which can obtain the same results at a cheaper cost and more importantly, be available in a large volume. This reason hinders the growth of the Acetonitrile Market. Until such a time when the substance is available and consumed in large quantities, acetonitrile will continue to remain expensive and this is a key factor which will hinder its growth.
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