24-Mar-2022 | Facts and Factors
In terms of revenue, the global pyridine market is expected to exceed USD 2.4 billion by the end of 2028, growing at a CAGR of 9.5% from 2022 to 2028.
Pyridine is a colorless liquid chemical compound with an unpleasant odor. It has the chemical formula C5H5N and a structure that is comparable to benzene. It is miscible in the majority of organic solvents and is formed from chemical products such as ammonia, formaldehyde, and acetaldehyde. Pyridine derivatives are extensively employed in the manufacture of food additives and agrochemicals, as well as in the production of numerous pesticides, herbicides, and insecticides.
The growing market for pyridine and its compounds from pharmaceutical and agrochemical applications is estimated to drive the market over the forecast period due to their diverse chemical functionalities. Pyridine was formerly only used as a solvent in pharmaceuticals, chemicals, and adhesives, but pyridine compounds are now increasingly being employed as starting materials in the production of pharmaceuticals, agrochemicals, food-flavoring additives, and other products.
Browse the full “Pyridine Market By Classification (Alpha Picoline, Pyridine N-Oxide, Gamma Picoline, Beta Picoline, and 2-Methyl-5-Ethylpyridine), By Usage (Chemical, Agrochemical, Food, Pharmaceutical, and Others), and By Region-Global and Regional Market Overview, Market Intelligence, Comprehensive Research, Historical Data, and Forecast 2022–2028" report at https://www.fnfresearch.com/pyridine-market
Pyridine compounds are also employed in antifreeze mixtures as a denaturant. Other factors supporting the growth of the global pyridine market include advancements in biocatalyst processes, an increase in the consumption of synthesized pyridine, and increased usage of pyridine in herbicides & pesticides. Companies are conducting extensive research to improve the chemical functions of pyridine and its analogs in order to boost its absorption in agrochemicals such as insecticides, fungicides, acaricides, and herbicides.
Strict laws and restrictions governing the further use of pyridine are projected to stymie global pyridine market expansion. According to the Occupational Safety and Health Administration (OSHA), the Acceptable Daily Intake (ADI) for pyridine for inhalation exposure is 0.002 mg/kg/day, with a Reportable Quantity (RQ) of 100. One of the key problems limiting pyridine use is the detrimental composting it causes while using it as an herbicide. Furthermore, excessive pyridine use has the ability to infect compost materials such as hay, dung, and so on.
The global pyridine market is segregated on the basis of classification, usage, and region. By classification, the market is segmented into alpha picoline, pyridine N-oxide, gamma picoline, beta picoline, and 2-methyl 5-ethylperidine. Pyridine N-oxide had 38% of the global market in 2020 and is predicted to reach USD 900 million by 2028. Vitamin B3 is made from beta picoline. The beta picoline segment is expected to grow at a moderate CAGR throughout the forecast period. By usage, the market is divided into chemical, agrochemical, food, pharmaceutical, and others. The agrochemicals segment is predicted to account for the highest share of the global market and to grow at a CAGR of around 7.8% in terms of value between 2022 and 2028.
Asia Pacific region accounts for a sizable portion of the global pyridine market. The region's developing targeted market could be due to rising demand in nations such as India, China, Bangladesh, Japan, Vietnam, South Korea, and Malaysia. The region's demand is increasing as a result of favorable government laws, rising discretionary income, and widely accessible cheap labor, among other considerations. The rapidly expanding pharmaceutical industry, as well as growing preference from the agrochemicals sector, are likely to drive market expansion in the Asia Pacific.
Market Size in 2021
USD 1.1 Billion
Projected Market Size in 2028
USD 2.4 Billion
CAGR Growth Rate
Key Market Players
Chang Chun Petrochemical Co. Ltd., Weifang Sunwin Chemical Company Limited, Vertellus Holdings LLC, Novasyn Organics, Bayer AG, Resonance Specialties Ltd., C-Chem Co., Ltd., Mitsubishi Chemical Company, Lonza Group AG, Jubilant Life Sciences Ltd., Koei Chemical Co. Ltd., Shandong Luba Chemical Co. Ltd., and Others
By Classification, By Usage, and By Region
Major Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
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Some of the main competitors dominating the global pyridine market are Chang Chun Petrochemical Co. Ltd., Weifang Sunwin Chemical Company Limited, Vertellus Holdings LLC, Novasyn Organics, Bayer AG, Resonance Specialties Ltd., C-Chem Co., Ltd., Mitsubishi Chemical Company, Lonza Group AG, Jubilant Life Sciences Ltd., Koei Chemical Co. Ltd. Koei Chemical Co. Ltd., and Shandong Luba Chemical Co. Ltd.
- June 2021: Vertellus agreed to buy ESIM Chemicals' specialties and intermediates division, which is a leading provider of specialized industrial chemicals, to the lubricant, pharmaceutical, coatings, and fuel industries.
- February 2021: Trineso agreed to purchase Synthomer PLC's vinyl pyridine latex business, which will broaden the company's product line.
The global pyridine market is segmented as follows:
- Alpha Picoline
- Pyridine N-Oxide
- Gamma Picoline
- Beta Picoline
- 2-Methyl 5-Ethylperidine
- North America
- The U.S.
- Rest of North America
- The UK
- Nordic countries
- Benelux Reunion
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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