LONDON, May 15, 2017 /PRNewswire/ -- Acetonitrile is the simplest of organic nitriles with the chemical formula CH3CN.
It is also known as cyanomethane, methyl cyanide, ethyl nitrile, methanecarbonitrile, etc. It is a clear, colorless liquid with a sweet, ethereal odour and is an important intermediate for pharmaceutical and functional material chemicals.
Here are some key findings of the study:
· The global acetonitrile market has grown at a CAGR of around 5% during 2009-2016.
· he report finds that the market is currently being driven by a heavy demand of acetonitrile in its end-use industries such as pharmaceuticals and HPLC applications.
The report has analyzed and segmented the global acetonitrile market on the basis of end-uses:
· Its biggest end-user is the pharmaceuticals industry accounting for the majority of the total global consumption. Acetonitrile is used to synthesize certain vitamins, amino acids, cortisone, etc.
· Acetonitrile is also used as a solvent in the production of insulin and antibiotics, tertiary-generation cephalosporins and for DNA synthesis.
· The second largest consumer of acetonitrile is in the HPCL applications (high-performance liquid chromatography).
· Acetonitrile is also used as a solvent in UV spectroscopy and polarography, in lithium batteries, for casting and moulding of plastic materials, for the extraction of fatty acids from animal and vegetable oils, in chemical laboratories for the detection of chemical residues and for spinning fibres.
The report has analyzed the global key regions:
· Asia as the its biggest producer, accounting for more than half of the total global production.
· Asia is followed by North America and Europe.
· In terms of consumption, China represents the biggest consumer of acetonitrile followed by North and South America, Europe and Japan.
· On the basis of import and export trends, the United States represents the largest global importer of acetonitrile accounting for the majority of the global import values.
· The United States was followed by China, United Kingdom, Brazil, Germany and France.
· Analysing the competitive landscape of the global acetonitrile market the report has found that INEOS represents the world's biggest producer of acetonitrile accounting for around a third of the total global production.
· INEOS is followed by Asahi Kesai, PetroChina, Formosa, Secco and Sinopec.
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