This market research report presents a detailed segmentation of the global pyridine market by type (alpha-picoline, beta-picoline, gamma-picoline, and MEP), by application (agrochemicals, pharmaceuticals, chemical synthesis, food, and others), and by geography (APAC, Europe, North America, and ROW). The leading vendors in this market are BASF, Bayer, Dow Chemical Company, DuPont, Mitsubishi Chemical, Lonza, and Vertellus.
Technavio’s market research analysts estimate the global pyridine market to grow at a CAGR of 7% between 2016 and 2020. Rising demand for pyridines from the agrochemicals and pharmaceutical industries, is expected to propel the growth of this marker in the coming years. The other applications of pyridine include water repellents, herbicides, and bactericides. Increase in demand for pyridine derivatives in herbicides and pesticides and advances in biocatalysis processes will enhance this market’s growth over the next four years. APAC accounts for 55% of the global pyridine market, owing to the increasing demand for niacinamide in the pharmaceuticals and processed foods industries and the rising demand for agricultural chemicals.
The new market research report from Technavio provides a breakdown and analysis of the pyridine segments by technology.
“Of late, the applications of pyridine has extended to the electronics and semiconductor industries. In these sectors, pyridine is used like a solvent to prevent rare earth elements and xylene from gelling. It plays an important part in enhancing optical properties of graphene, which is used quite ubiquitously in mobile phones. With emerging applications and new uses for pyridine in the electronics industry, the global market for pyridine will exhibit promising growth during the next four years,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research
The agrochemicals segment is the biggest user of pyridine globally and is expected to generate revenues close to USD 799 million by the end of 2020. Since pyridine is an essential component of many agrochemicals like herbicides and insecticides, much of this segment’s growth can be attributed to the rising demand for food products globally, not just for people but also for farm animals. With a decline in arable land, pyridine and its derivatives are needed not only to increase yields but also to ensure that high-quality food products are available as per market demand.
The key players in the global pyridine market include BASF, Bayer, Dow Chemical Company, DuPont, Mitsubishi Chemical, Lonza, and Vertellus. This market is concentrated in APAC and is witnessing rapid consolidation in countries like India and China. The prominent vendors in this market are expected to remain market leaders during the forecast period and are concentrating on out-licensing of local companies and local tie-ups to strengthen their market presence.
A more detailed analysis is available in the Technavio report, Global Pyridine Market 2016-2020.
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