Global Acetonitrile Market Study 2016-2032
Acetonitrile, also known as methyl cyanide, is a colorless liquid produced as a by-product of acrylonitrile. Acetonitrile is completely soluble in water and forms azeotropes with one or more organic compounds or with water. It is primarily used in industries as a solvent and intermediate for making perfumes, rubber products, pesticides, acrylic nail removers, batteries, insulin, and antibiotics etc. Other than solvent, it used in the production of amines, amidines, esters, aldehydes, ketones, imines, carboxylic acids, heterocylces and other compounds. Due to low viscosity, high elution strength and miscibility in water, Acetonitrile is used as a mobile phase component in chromatography. On exposure to flame, Acetonitrile produces toxic gases such as hydrogen cyanide, oxides of mitogen or carbon.
Acetonitrile is produced as a by-product in the manufacturing of acrylonitrile, typical acrylonitrile plant yields about 2-4% of acetonitrile, only a few companies around the world recover Acetonitrile. Asahi Kasei, INEOS, CNPC, Mitsubishi Chemical Corporation, Tongsuh Petrochemical, Shanghai SECCO, Jiangsu Sailboat, Balaji Amines, Alkyl Amines are some of the major players of Acetonitrile. Asahi Kasei is one of leading producers of Acetonitrile with production facility located in Okayama, Japan and Ulsan, South Korea. The production of acetonitrile is linked to the demand for acrylonitrile in the market, as it is a by-product of the acrylonitrile.
Global Acetonitrile Demand by Region 2021 (Kilo Tons)
The global Acetonitrile market has witnessed strong growth over the last five years, on the back of increase in production of Active Pharmaceutical Ingredient (API). The global Acetonitrile market is projected to grow at a CAGR of 5.5% between 2022-2032, with highest growth rates in China and India. Asia Pacific dominates the global Acetonitrile market, owing to presence of huge pharmaceutical industry in the region. The Acetonitrile market, based on applications, has been segmented into Pharmaceutical, Laboratory, Agrochemical, and others. In 2021, Pharmaceutical application was estimated to be the largest market for Acetonitrile followed by Laboratory, Agrochemical, and other applications. In Pharmaceutical industry is the major end use consumer of Acetonitrile. It is used as a reagent, reaction solvent and extraction solvent to synthesize vitamins A and B1, cortisone, carbonate drugs, amino acids, insulin, antibiotics etc. The Pharmaceutical application is projected to be fastest growing application in the forecast period owing to increasing Acetonitrile demand from generic pharmaceuticals, and engineered drugs.
In terms of market by region, Asia Pacific is the biggest producer and consumer of Acetonitrile accounting for more than half of the global Acetonitrile market. China is the largest market for Acetonitrile followed by India. India is the second biggest consumer of Acetonitrile in Asia Pacific on the back strong pharmaceutical industry. In India, Balaji Amines and Alkyl Amine are the major Acetonitrile producer with total installed capacity of around 40 kilo tons. Indian Acetonitrile market is projected to witness highest growth in the forecast period owing strong growth in pharmaceutical products, chemical industry, and the expansion of the healthcare sector.
In 2021, Western Europe and Central Europe together accounted for around 15% of the global Acetonitrile market. Europe is a net importer of Acetonitrile mainly originating for Asia and North America owing to lack of major Acetonitrile producer in the region . In the long term forecast, Europe Acetonitrile market is projected to witness moderate growth.
Global Acetonitrile Demand by Application 2021 (Kilo Tons)
Insulin is used in the treatment of type 1 diabetes to reduce the risk of kidney failure, blindness, and limb amputation. The demand of acetonitrile in pharmaceutical industry is driven by the increasing demand of insulin. The growing number of diabetic patients in the world will lead to increasing demand of insulin. As per International Diabetes Federation, around 537 million adults in the age group of 20-79 years were found living with diabetes in 2021. This number is projected to increase to 643 million by 2030 and 783 million by 2045. Currently around 1 million children and adolescents are living with type 1 diabetes. Three manufacturers currently dominate the insulin market, Eli Lilly, Novi Nordisk, and Sanofi. These 3 companies obtained combined global yearly revenue of approximately USD 18 Billion from insulin in 2021.
Global Acetonitrile Demand by Application 2016-2032 (Kilo Tons)
Acetonitrile is a preferred solvent in the electrolyte solution in lithium-ion batteries due to its low viscosity, high dielectric constant, and excellent solvating properties. Lithium-ion batteries are rechargeable batteries that are widely used in electrical & electronic devices such as smart phones, tablets, laptops, computers, electric vehicles, global positioning devices, digital cameras, power backups, energy storage systems etc. The demand of lithium-ion batteries is expected to witness strong growth in the forecast period on the back of shift of consumers towards Electric vehicle. The surging demand of lithium-ion batteries is expected to drive the Acetonitrile market in the forecast period.
Key Developments in Acetonitrile market
Alkyl Amine operates two Acetonitrile manufacturing facility in India. One plant in Kurkumbh with capacity of 12 kilo tons and one plant in Dahej with installed capacity of around 18 kilo tons. The Acetonitrile plant in Dahej was recently commissioned by company to cater the growing demand from end use industries.
Balaji Amines operates a 9 kilo tons Acetonitrile plant, and the company is further planning to expand the production capacity by 6 kilo tons. The capacity expansion is expected to be completed by end of 2023.
In 2022, INEOS Nitriles has announced to build a world scale Acetonitrile production plant at its operating facility in Köln, Germany. The company is expanding its operations in Germany with a new 15 kilo to unit that will extract Acetonitrile, marking the company s first foray into this extraction process in the region. The new capacity is estimated to commence operation by late 2023 or early 2024. On completion, INEOS will be sole Acetonitrile producer in Europe. The company is also planning to extract Acetonitrile at an Acrylonitrile plant it is building in Saudi Arabia. INEOS decided to permanently close its 9 kilo tons Acetonitrile plant in Seal Sands, United Kingdom, plant in 2019, since closure company has not produced Acetonitrile in Europe. INEOS currently operates Acetonitrile plant in Lima, Ohio, and Green Lake, Texas.