pyridine industry LOBA Feinchemie AG (Austria), Merck KGaA (Germany), The Dow Chemical Company (U.S.)
Market Analysis
The global pyridine market is likely to grow at a healthy CAGR between 2016- 2023, reveals the new Market Research Future (MRFR) report. Pyridine is a liquid that is colorless, having nauseating odor. Its chemical formula is C5H5N. The structure of this organic compound is akin to benzene, with 1 methane group getting replaced with 1 nitrogen atom. It is not only miscible in water but also almost every organic solvent. Some of its different types include 2-methyl-5-ethylpyridine (MEP), gamma picoline, beta picoline, alpha picoline, and others. Owing to its alluring characteristics, pyridine has wide applications, including chemicals, food and beverage, agrochemical, pharmaceutical, construction, dyes, paints and coatings, rubber, and electronics and semiconductor, among others. Pyridine is either synthesized from acetaldehyde, formaldehyde, and ammonia or derived from crude coal tar.
Various factors are adding to the global pyridine market share. These factors, as per the new MRFR report, include the growing need for superior quality crop production, demand for insecticide and pesticide, wide use of pyridine to develop mobile & other electronic products, growing electronics industry, and increasing use of pharmaceuticals. Additional factors adding market growth include improved living standards, rapid urbanization, and growing disposable income.
On the contrary, increasing concern about the harmful impact of pyridine may limit the pyridine market growth over the forecast period.
Key Players
Key players profiled in the global pyridine market report include Resonance Specialties Limited (India), Bayer AG. (Germany), RASCHIG GmbH. (Germany), LOBA Feinchemie AG (Austria), Merck KGaA (Germany), The Dow Chemical Company (U.S.), Vertellus Holdings LLC (U.S.), KOEI CHEMICAL CO., LTD. (Japan), and Jubilant Life Sciences Ltd. (India), among others. Industry players have incorporated several strategies to stay ahead in the competition, such as joint ventures, collaborations, contracts, mergers, acquisitions, expansions, and others.
Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global pyridine market based on types and end use industry.
By types, the pyridine market is segmented into 2-methyl-5-ethylpyridine (MEP), gamma picoline, beta picoline, alpha picoline, and others.
By end use industry, the pyridine market is segmented into chemicals, food and beverage, agrochemical, pharmaceutical, and others. Others have been segmented into building and construction, dyes, paints and coatings, rubber, and electronics, and semiconductor. Of these, the agrochemical segment will dominate the market over the forecast period at a healthy CAGR followed by the pharmaceutical segment that is likely to grow at a moderate CAGR.
Regional Analysis
Based on the region, the global pyridine market report covers the recent trends and growth opportunities across Europe, the Asia Pacific (APAC), North America, the Middle East and Africa (MEA), and Latin America. Of these, the Asia Pacific region is predicted to command the largest share in the pyridine market over the forecast period for the surging demand from various end use industries like chemicals, agriculture, building, and construction, to name a few. Malaysia, Thailand, Vietnam, India, China, Japan, and South Korea are the key contributors in the region. Besides, the easy availability of raw materials, competitive manufacturing costs, and rising economic growth rate are also adding market growth.
The pyridine market in Europe is predicted to possess the second-largest share over the forecast period for the rapidly growing food and beverage industry.
The pyridine market in North America is predicted to have healthy growth over the forecast period for the burgeoning demand for adhesives in the construction industry.
The pyridine market in the MEA is predicted to have healthy growth over the forecast period for increasing construction activities.
The pyridine market in Latin America is predicted to have notable growth over the forecast period for the expansion of the pharmaceutical and chemical sector.
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