The Global Pyridines Market is forecast to reach USD 836.7 Million by 2028, according to a new report by Reports and Data. Pyridine can be described as a basic heterocyclic organic compound, which has a chemical formula C5H5N. This organic compound is correlated to benzene, with one methine group (=CH−) replaced by a nitrogen atom. In regards to its nature, it is weakly alkaline, flammable, unpleasant fish-like smell and water-miscible liquid with a distinctive. This compound is usually colorless; however, impure or older samples can appear yellow.
The pyridine ring is formed in various essential compounds like pharmaceuticals, agrochemicals, and vitamins, among others. Historically, the chemical was formed from coal tar. The organic compound have a wide range of application. Pyridine moieties are frequently used in drugs due to its traits like water solubility, basicity, their small molecular size, hydrogen bond-forming ability, and stability. As pyridine rings have the capacity of acting as the amides, bioisosteres of amines, benzene rings and heterocyclic rings containing nitrogen atoms, its replacement by pyridine moieties is essential in drug discovery. The organic compound is found or can be applied to help make solvent and dyes. Thus, such a wide arena of applications of the compound is fostering the growth of the sector.
In regards to region, Europe can be seen to occupy a considerable share of the market. The market share held by the region is attributed to continuous expansion of the healthcare sector, rising demand for the compound from the chemical and food sector, which is supporting the expansion of the market in this region.
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Key participants include BASF, Dow Chemicals, Lonza, DuPont, Bayer, Vertellus, Mitsubishi Chemicals, Royal DSM, Sinopec Qilu Petrochemical, and Koei Chemicals.
Further key findings from the report suggest
The Pyridines market held a market share of USD 619.3 Million in the year 2020 that is forecasted to grow at a rate of 4.6% during the forecast period.
In context to Product Type, the Beta Picoline segment is projected to witness a considerable growth rate of 5.4% during the forecast period, which is expected to occupy 20.0% of the market by 2028. The growth rate witnessed by the Beta Picoline segment is attributed to the continuous expansion of the pharmaceutical sector, wherein it is used in manufacturing Vitamin B3. The increasing demand for agrochemicals like Haloxyfop, Chlorpyrifos, and applicability of Beta Picoline in these agrochemicals, wherein it used as intermediate, also contributes to the growth rate of this segment.
In context to Application, the Medicines segment held a considerable market share of more than 30.0% in 2020, with a CAGR of 4.8% during the forecast period. The market share held by the Medicines segment is attributed to the wide application of pyridine moieties in drugs due to its traits like water solubility, basicity, their small molecular size, hydrogen bond-forming ability, and stability, which contributes to the market share held by this segment.
In regards to End-user, the Agrochemicals segment held a considerable share of the market of more than 30.0% in 2020, with a CAGR of 4.8% during the forecast period. The rising emphasis on agriculture because of continuously elevating demand for food products and extensive application of the organic compound as a precursor to the herbicides paraquat and diquat contributes to the market share held by this segment.
In regards to the region, North America held more than 20.0% of the market in 2020, with a CAGR of 4.6% during the forecast period. The presence of well-established chemical industry and growing pharmaceutical sector is supporting the expansion of the industry in this region.
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For the purpose of this report, Reports and Data have segmented the global Pyridines market according to Product Type, End-user, Application, and Region:
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2020-2028)
Pyridine N-Oxide
Beta Picoline
Alpha Picoline
2-Methyl-5-Ethylpyridine (MEP)
Gamma Picoline
End-user Outlook (Volume, Kilo Tons; Revenue, USD Million; 2020-2028)
Pharmaceuticals
Agrochemicals
Food
Chemicals
Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2020-2028)
Pesticides
Solvent
Rubber
Paints and Dyes
Medicines
Others
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Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2020-2028)
North America
Europe
Asia Pacific
MEA
Latin America
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