Global Pyridine Report By Business Analysis, Industry Types, Demand, Capacity, Applications, Services, Innovations and Forecast 2027
Pyridine is a clear liquid with an unpleasant odor. It is simple
heterocyclic aromatic compound with structure related to benzene and possess a
CH group in the benzene ring replaced by a nitrogen atom. Moreover, the
pyridine ring is generally found in many different compounds such as azines,
niacin, vitamins, and pyridoxine. Initially, pyridine was derived from coal tar
and obtained as a byproduct of coal gasification, but the process was very
expensive and inefficient. Currently, pyridine and its derivatives are
manufactured synthetically. It is miscible with water and other organic
solvents which find extensive use in numerous end use industries such as
agrochemical, food & beverage, pharmaceuticals, chemicals, and others.
Some
of the prominent factors that positively influence the growth of the pyridine
market are growing disposable income, rapid urbanization, and improved living
standards. Additionally, increasing use of pharmaceuticals has led to an
increase in the demand for pyridine globally. Moreover, continuous growth of
electronics industry along with wide utilization of pyridine in development of
mobile and other electronic product is expected to fuel the growth of the
market over the forecast period. Growing demand for pesticide and insecticide
combined with the rising need of high quality crop production is estimated to
propel the market growth. However, increasing concern regarding the harmful
effect of pyridine is expected to hinder the market growth.
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Market Segmentation:-
The
global pyridine market is segmented on the basis of types, end use industry,
and region. Based on types, the market is categorized into alpha picoline, beta
picoline, gamma picoline, 2-Methyl-5-Ethylpyridine (MEP), and others. On the
basis of end use industry, the market is classified into pharmaceutical,
agrochemical, food & beverage, chemicals, and others. Other end use
industries comprises of electronics & semiconductor, rubber, paints and
coatings, dyes, and building & construction. Among these, agrochemical
segment accounted for the largest market share of global pyridine market in
2016 and is predicted to expand with a healthy CAGR over the forecast period.
Pharmaceutical segment holds the second largest segment and is predicted to
grow with the moderate CAGR during the assessment period. New product launches
in agrochemicals and pharmaceutical segments as well as strong utilization of
pyridine derivatives are among the key factors predicted to give new momentum
to the growth of the market. The chemical segment provides maximum market
potential on account of raise in demand for pyridine and its derivatives for
numerous chemical synthesis reactions and as a catalyst.
Competitive Analysis
The
major players operating in the pyridine market are Jubilant Life Sciences Ltd.
(India), KOEI CHEMICAL CO., LTD. (Japan), Lasons (India), Vertellus Holdings
LLC (U.S.), The Dow Chemical Company (U.S.), Merck KGaA (Germany), LOBA
Feinchemie AG (Austria), RASCHIG GmbH. (Germany), Bayer AG. (Germany),
Resonance Specialties Limited (India) among others
Regional Analysis
Asia
Pacific is expected to be the largest market for pyridine followed by Europe
and North America owing to rising demand from numerous end use industries such
as building & construction, agriculture, and chemical among others. Various
countries of Asia Pacific such as South Korea, Japan, China, India, Vietnam,
Thailand, and Malaysia are the fastest growing market for pyridine, and is
predicted to grow with the same pace in the near future. In Asia Pacific, some
of the driving factors for market growth are increasing economic growth rate,
competitive manufacturing costs, and ease in availability of raw material.
Europe pyridine market is estimated to witness a significant growth on account
of the continuous growth of food & beverage industry. North America is
estimated to witness a substantial growth over the forecast period on account
of increasing demand for adhesives in the construction sector. The Middle East
& African countries is estimated to witness strong market growth due to
rising construction activities. In Latin America market growth is majorly due
to expansion of chemical and pharmaceutical sector.
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