The Asia-Pacific acetonitrile market is predicted to grow considerably at a CAGR of 5.5% during the forecast period (2021-2027). The presence of major manufacturers of chemicals across the region is a key factor driving the growth of the acetonitrile market in Asia-Pacific. Easy availability of low-cost raw material and skilled labor are some key factors that have contributed to the high presence of chemical manufacturers across the Asia-Pacific. China, Japan & South Korea are key contributors to the high share of the regional market. India is engaging itself in chemical production facility expansion projects to increase its share in the regional market. Apart from the production part, the growing demand for specialty solvents is further aiding the demand for acetonitrile which in turn is driving the Asia-Pacific acetonitrile market.  

Impact of COVID-19 Pandemic on Asia-Pacific Acetonitrile Market

The Asia-Pacific acetonitrile market suffered a downfall during the COVID-19 crisis as most of the economic activities were halted during Q1 and Q2 2020. The disruptions in supply chain and logistics due to lockdown and restrictions on travel to curtail the spread of the COVID-19 virus led to the fall in the market. This is majorly owing to COVID-19 lockdown having a significant impact on the chemical supply chains because of the early lockdown in China, which is the leading manufacturing hub for chemicals. Most initiatives in multiple countries have changed to a temporary halt. Development, as well as supply, is put on hold, creating losses for suppliers, dealers, and customers alike. However, with the recovering situation, the demand for the chemical is anticipated to grow in near future. 

The Asia-Pacific acetonitrile market is segmented based on type, applications, and end-user. Based on the type, the market is fragmented as derivative and solvent. The solvent type segment of the market is projected to hold the most lucrative share in the acetonitrile market. Based on applications, the market is segmented as organic synthesis, specialty chemicals, HPLC solvents, pharmaceutical, extraction, DNA and RNA synthesis, and others. Based on the end-user, the market is segmented as pharmaceutical industry, analytical industry, agricultural industry, and others. 

Based on the demographic viewpoint, the Asia-Pacific acetonitrile market has been segmented into China, India, Japan, ASEAN, South Korea, and the Rest of Asia-Pacific. China is likely to hold a major share in the Asia-Pacific acetonitrile market over the forecast period due to its high population, industrialization, and the presence of major players for the chemical providers. India and Japan hold a significant share in the Asia-pacific acetonitrile market, followed by China.

The key players of the Asia-Pacific acetonitrile market include Mitsubishi Chemical Corp., Asahi Kasei Corp., Balaji Amines, Ltd., Henan Haofei Chemical Co., Ltd., INEOS Group, Ltd., Jiangsu Sailboat Petrochemical Co., Ltd., Jilin Provincial Chemicals Import & Export Co., Ltd., and Shanghai SECCO Petrochemical Co., Ltd. and so on. Product development and considerable investment in R&D of new binding technologies is the core focus of these major market players to remain competitive. Moreover, the key players of the acetonitrile market are actively adopting organic or inorganic market activities to increase their market presence. 

Research Methodology

The market study of the Asia-Pacific acetonitrile market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Asia-Pacific Acetonitrile Market Research And Analysis By Type
2. Asia-Pacific Acetonitrile Market Research And Analysis By Application
3. Asia-Pacific Acetonitrile  Market Research And Analysis By End-User 

The Report Covers

• Comprehensive research methodology of the Asia-Pacific Acetonitrile market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Asia-Pacific Acetonitrile market.
• Insights about market determinants that are stimulating the Asia-Pacific Acetonitrile market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.