Pyridine Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1301
Pyridine Market size demand is mainly driven by growth in applications across industries, such as agrochemicals and pharmaceuticals. Its derivatives find wide applications in agrochemicals, pesticides, and herbicides industries. The product is colorless, soluble in water and other organic solvents, has a strong odor, and is toxic in nature. It is not available in large quantities through natural form and is manufactured synthetically using an efficient and economical technique from ammonia and acetaldehyde. These reactions are dealkylation of alkylated, chichibabin synthesis, bonnemann cyclization, and hantzsch synthesis. Limited arable land coupled with ever growing population will fuel pyridine market demand.
The product also finds applications in semiconductor and electronics industries. It is used as a solvent to prevent rare earth elements and xylene from gelling. The growth in applications in electronics industry should drive pyridine market size. It is also used in rubber and dyes manufacturing industry as a solvent.
The agrochemical industry uses the chemical in manufacturing herbicides and pesticides, preventing the growth of grass and weeds in farms. Currently, the global population is estimated to be 7.4 billion in 2016. Owing to the ever-growing population and with limited arable land, the consumption of product-based chemicals will increase. Additionally, efforts are carried out to increase the agricultural yield, fueling pyridine market growth. It is mainly used for cotton crops enhancing the product demand.
It is a liquid biochemical solvent soluble in both hydrocarbons as well as water is a part of the chemical industry. The growth in pharmaceuticals, industrialization, manufacturing, and food and beverage industry fuels the chemicals market. Manufacturing and pharmaceutical applications will drive the global chemicals market. Widening applications in personal, medical, and healthcare industry will drive pyridine market growth.
The product also finds applications as a low-volume additive in the food industry to give bitter flavor and this is approved by the FDA. In addition to this, it is also used as an antifreeze mixture for denaturation of alcohol. An increase in applications in the food industry will boost pyridine market growth.
Alpha picoline, known as 2-aminopyridine, finds wide applications in pharmaceuticals for manufacturing bisacodyl, ethionamide, and nalidixic acid. In addition to this, it is also utilized in manufacturing poultry drugs. Along with this, alpha pyridine is also used in manufacturing agrochemicals. A rise in agrochemical applications will drive the pyridine market. MEP is used as a solvent in chemical reactions. It is widely used in textile agents, dyeable acrylic fibers, and vat dyes. An upsurge in applications will drive the pyridine market growth.
APAC is the major market share holder exceeding 50% of the total pyridine market. The growth in pesticide and herbicide consumption in the region is the key driver for market growth. Europe is likely to account a major share in the upcoming years owing to its consumption by end-users including personal, chemicals and healthcare industry.
The global pyridine market is consolidated with focus on Asian nation. These are expected to stay as major consumers during the forecast timeframe owing to the vast consumption of herbicides and other agrochemicals in the region.
The presence of many local players is expected to further drive the growth. Some of the key market players include Dow Chemicals, DuPont, BASF, Lonza, Vertellus, Bayer, and Mitsubishi Chemicals. Other prominent market players include Sanonda, Sinopec Qilu Petrochemical, Royal DSM, Koei Chemicals, Shandong Luba Chemical, Nippon Steel & Sumikin Chemical, and Jubilant Life Sciences.
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