According to the latest report by IMARC Group, titled “Pyridine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached US$ 554.4 Million in 2018. Pyridine refers to a colorless liquid that is characterized by a penetrating nauseating odor. It is a heterocyclic organic compound with the chemical formula C5H5N. It is basic in nature and is made of a benzene core in which a nitrogen atom replaces one -CH group. It is highly flammable and is soluble in water. It can be produced from coal tar, formed from the breakdown of various natural materials, or synthesized using chemicals, such as ammonia and acetaldehyde. It is widely utilized in the preparation of a wide array of products including dyes, paints, adhesives, herbicides, insecticides, vitamins, medicines and food flavorings.
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Global Pyridine Market Trends:
Pyridine and its derivates are extensively used in the production of agrochemicals. It serves as a key component in the manufacturing of herbicides, pesticides and insecticides. Furthermore, growing awareness among farmers about the importance of pest control is driving the demand for pyridine. Moreover, this organic compound is also utilized in various pharmaceutical products like vitamin B3 and B6 supplements. Increasing incidences of diseases on account of sedentary lifestyles and shifting dietary preferences are catalyzing the demand for these products. A thriving food and beverage industry is also contributing significantly to the market growth. Apart from being utilized in food flavorings, the demand for pyridine is also growing due to the increasing preference for packaged and convenience food products. On account of the aforementioned factors, the market is expected to reach a value of US$ 786.4 Million by 2024, expanding at a CAGR of around 6% during 2019-2024.
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- On the basis of the product type, the market has been divided into Pyridine N-Oxide, Alpha Picoline, Gamma Picoline, Beta Picoline, 2-Methyl-5-Ethylpyridine (MEP) and others. Amongst these, Pyridine N-Oxide is the most preferred product type.
- Based on the synthesis, the market has been bifurcated into chemically synthesized pyridine and coal tar extracted pyridine.
- On the basis of the end use, agrochemicals exhibit a clear dominance in the market. Other major segments include pharmaceuticals, chemicals, food and others.
- Based on the application, the market has been classified into solvents, pesticides, rubber, medicines, paints and dyes, and others.
- On the geographical front, Europe holds the leading position in the market. Other major regions include Asia Pacific, North America, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the market. Some of these companies include Vertellus Holdings LLC, Red Sun Co. Ltd., Jubilant Life Sciences Ltd., Lonza Group Ltd., Resonance Specialties Limited, DuPont de Nemours, Inc., Shandong Luba Chemical Co., Ltd., Koei Chemical Company, Limited, Seidler Chemical Co, Inc., Weifang Sunwin Chemicals Co. Ltd., Novasyn Organics Pvt. Ltd., and Nippon Steel & Sumikin Chemical Co., Ltd.
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