The global pyridine market is anticipated to grow $900 million in 2028, growing at a CAGR of 6% from 2020 to 2028.
Pyridine market overview
Asia Pacific is expected to grow at the highest CAGR of 4.50% during the assessment period, (2020 to 2030). During the forecast period, the pyridine market growth rate will remain the highest. C5H5N is a chemical formula and organic compound. Heterocyclic is an organic chemical that has similar properties to Benzene. Instead of a nitrogen atom, this chemical contains the Methine group. There are several important ingredients in Pyridine. Vitamins, niacin, azines and pyridoxine are some of the important compounds in this. The demand for this chemical is rising in the pharmaceutical market. In this industry, it can act as an antifreeze element.
Further, agrochemicals are a crucial end-user of the market. The need for Pyridine is high in the agrochemicals. Also, there is high use of Pyridine in the food additives market. The pesticide and insecticides have this pyridine that has several benefits. Many governments allow the use of Pyridine as they are safe.
Also, there are lucrative opportunities in the market that will enhance overall supply and demand. The research activities in the market are growing. There are many uses of Pyridine. It is causing a high number of developments. Improved lifestyle and consumer spending will create more development in the market. All these are factors that will surge overall market value.
The Global Pyridine Market share by end use (2016), (%)
Source: MRFR Analysis
The global pyridine market is spanned across five regions, Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is expected to grow at the highest CAGR during the assessment period, (2017 to 2023) owing to the expansion of various end use industries such as agriculture, food & beverage, and chemical industry among others. The demand for pyridine is expected to surge in various countries of Asia Pacific such as Bangladesh, China, Japan, India, South Korea, Vietnam, and Malaysia due to the rising consumer base as well as favorable government regulations. Moreover, growing purchasing power, availability of inexpensive raw material, labor & land, and soberly stringent regulatory framework are some of the prominent factors for the regional growth of pyridine market during the review period.
Asia Pacific has emerged as the largest market for pyridine followed by Europe and North America. Europe is predicted to witness a substantial growth in pyridine market on account of strong consumer base for numerous end use industries along with the increasing investments to revitalize food & beverage sector over the forecast period. European countries such as the U.K, France, Germany, Russia, Spain, and Italy have emerged as the major contributors in the regional pyridine market growth and is predicted to continue their dominance over the forecast period due to wide utilization of pyridine in chemicals and pharmaceuticals sector. North America market is expected to witness a steady growth due to increased demand from building & construction. The U.S and Canada are among the major contributors in the regional market growth on account of strong growth in pharmaceutical sector. Latin American countries such as Argentina, Mexico, Brazil, Colombia, and Guatemala are also expected to witness moderate growth on account of increasing consumer spending on food products along with the presence of luxury brands associated with food & beverage products. The Middle East & Africa is expected to witness an above average growth over the forecast period 2017-2023. Kuwait, Iran, Qatar, Oman, Saudi Arabia, and the United Arab Emirates (UAE) are among the major contributors in the regional market growth and is predicted to positively influence the industrial growth over the forecast period.
The global pyridine market is categorized on the basis of type, end use, and region. On the basis of type, the market is categorized into alpha picoline, beta picoline, gamma picoline, 2-Methyl-5-Ethylpyridine (MEP), and others. On the basis of end use, the market is segmented into pharmaceutical, agrochemical, food & beverage, chemicals, and others. Other end use industry include electronics & semiconductor, dyes, building & construction, paints & coatings, and rubber. On the basis of region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
The report covers brief analysis of geographical regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.Recent Development
Vertellus is a company that agreed to a new acquisition. It is buying the products of ESIM chemicals that will create many developments. Both companies will create chemicals that will be useful for industries. Pharmaceutical coating and fuel industries are having highest demand for the new product.
Trineso is acquiring the shares of Synthomer PLC. This is a vinyl Pyridine latex business that produces chemicals such as Pyridine. Through this partnership, the companies will strengthen their portfolio. Also, the product line of these companies will improve due to this. The product of the company will have mire supply in many regions.
|Market Size||2030: Significant value|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, end use, and region|
|Geographies Covered||North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.|
|Key Vendors||Jubilant Life Sciences Ltd. (India), KOEI CHEMICAL CO., LTD. (Japan), Lasons (India), Vertellus Holdings LLC (U.S.), The Dow Chemical Company (U.S.), Merck KGaA (Germany), LOBA Feinchemie AG (Austria), RASCHIG GmbH. (Germany), Bayer AG. (Germany), Resonance Specialties Limited (India) among others|
|Key Market Opportunities||stringent regulations associated with the toxicity of product and threat of substitutes are predicted to hamper the overall market growth in the developed and developing nations.|
|Key Market Drivers||Growing demand from the pharmaceutical and agrochemical industries is the major driver for the pyridine market.|
By product, the pyridine market is segmented into alpha picoline, beta picoline, gamma picoline, 2-methyl-5-ethylpyridine, and others.
Growing demand from the pharmaceutical and agrochemical industries is the major driver for the pyridine market.
Asia Pacific is the leading regional market.
Leading players in the market include Jubilant Life Sciences, Dow, and Bayer AG, among others.
Major applications of pyridine are in the electronics, dyes, building and construction, paints and coatings, and rubber industries.