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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Pyridine is a liquid chemical compound that appears colorless and has a nauseating odor. It has a chemical compound formula C5H5N and has a structure similar to benzene. It is miscible in most of the organic solvents and produced by crude coal tar or is derived from chemical products such as formaldehyde, ammonia, and acetaldehyde.

The global Pyridine market is projected to surpass US$ 2,228.3 million by the end of 2028, in terms of revenue, growing at CAGR of 9.5% during the forecast period (2021 to 2028).

Drivers

The growing demand for synthetic pyridine from chemicals and pharmaceutical sectors is projected to drive market growth. According to the Coherent Market Insights analysis, synthetic pyridine accounts for 95% of world production of pyridines and is the only alternative of managing high demand for the same. Robust growth in the chemical and pharmaceutical sectors is driving huge demand for the product and this is expected to foster the market growth over the forecast period.

High demand for pyridine as an active ingredient in agrochemicals is expected to bolster the market growth. It is used in the production of pesticides. Significant demand in pesticides due to the growing need for higher quality yield crops and rising demand for food around the globe is fueling the market growth. This is attributed to increasing populations. Also, the growing adoption of advanced farming practices is again expected to foster the market growth of the pyridine over the forecast period. 

Asia Pacific region dominated the global Pyridine market in 2020, accounting for 40.79% share in terms of volume, followed by North America, and Latin America, respectively. As a result of rising demand in pesticides due to the growing need for higher quality yield crops

Figure 1. Global Pyridine Market, Revenue Share (%), By Region, 2020

Pyridine  | Coherent Market Insights

Market Restraints

Strict rules and regulations associated with the use of pyridine are expected to hamper the market growth. According to Occupational Safety and Health Administration (OSHA), for inhalation exposure, Acceptable Daily Intake (ADI) for pyridine is restricted to 0.002 mg/kg/day and its Reportable Quantity (RQ) value is 100.

Harmful composting while using pyridine as an herbicide is one of the major factors restricting the use of pyridine. Also, excessive use of pyridine has the potential to contaminate compost feedstock including hay, manure, etc.

Market Opportunities

The increasing use of pyridine as a solvent in various chemical applications is projected to bring profitable opportunities in the near future. For instance, in SOCl2 and TsCl pyridine is used as a weak base. In this reaction, HCl is produced as a by-product. Pyridine absorbs HCl as it is generated and forms pyridinium hydrochloride. Thus, increasing use of pyridine as a solvent in many chemical reactions is projected to foster market growth in the near future.

Growing regulatory approval for pyridine in food applications is expected to open new doors of opportunities over the forecast period. Pyridine and its derivatives are widely used as a food flavor additive in the preparation of various food products. Hence, growing regulatory approvals in the U.S. for use of pyridine as a food additive is projected to increase its uptake in various food applications is projected to favor the market growth of the pyridine in the near future. 

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Pyridine Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 1,086.7 Mn
Historical Data for: 2017 to 2019 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 9.5% 2028 Value Projection: US$ 2,228.3 Mn
Geographies covered:
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa
Segments covered:
  • By Product Type: Pyridine N-oxide, Alpha Picoline,, Beta Picoline, Gamma Picoline and 2-Methyl-5-Ethylpyridine (MEP)
  • By Application: Pharmaceutical, Agrochemicals, Food, Chemicals (Solvent and Denaturant) and Others (Dyestuffs, Alcohol)
Companies covered:

Jubilant Life Sciences Ltd., Lonza Group Ltd., Vertellus Specialties Inc., Resonance Specialties Limited, Red Sun Group, Shandong Luba Chemical Co., Ltd., Koei Chemical Co., Ltd., and Weifang Sunwin Chemicals Co., Ltd.

Growth Drivers:
  • High demand for pyridine as an active ingredient in agrochemicals
  • growing demand for synthetic pyridine from the chemical and pharmaceutical industries
Restraints & Challenges:
  • Strict rules and regulations associated with the use of pyridine
  • Harmful composting while using pyridine as an herbicide is one of the major factors restricting the use of pyridine

Figure 2. Global Pyridine Market – Opportunity Analysis

Pyridine  | Coherent Market Insights

Market Trends

An increasing number of working population coupled with the improving standard of living is projected to boost the market growth of the pyridine. The rapid expansion of various end-user industries across developing regions coupled with the evolving demand for products due to the influence of social media is again expected to propel the market growth of the pyridine. Increasing strict regulatory framework along with the robust growth in the agriculture industry is further expected to foster market growth.

Growing consumption of Vitamin B3 in industrial applications is a growing trend in the market. Niacin and niacinamide are types of Vitamin B3. Various manufacturers are focusing on increasing the production capacity of Vitamin B3. For instance, recently Jubilant Life Sciences has increased its vitamin B3 capacity by more than 50%. Also, Vertallus Specialities Inc. increased its Vitamin B3 (3- Cynopyridine) capacity by 10,000 tons.

Figure 3. Global Pyridine Market, Revenue Share (%), By Product Type, in 2020

Pyridine  | Coherent Market Insights

Key Takeaways of the Graph:

  • The Pyridine N-oxide held dominant position in the market and accounted for 39.4% share in the Global Pyridine Market in 2020. The segment is expected to reach US$ 881.55 million in 2028
  • Due to the high demand for pyridine as an active ingredient in agrochemicals throughout the world.

Global Pyridine Market - Impact of Coronavirus (Covid-19) Pandemic

The emergence of Coronavirus in the fourth quarter of 2020 has boosted demand for Pyridine in the pharmaceutical sector, as individuals are hesitant to seek out nutritional goods to strengthen their immunity as a virus prevention strategy. During this period, the demand for pharmaceutical medications based on pyridine derivatives such nicotine, nicotinamide, vitamin B6, and others has increased significantly, stimulating the market for pyridine derivatives. COVID-19, on the other hand, had a negative impact on the market in 2020. Pyridine derivatives are frequently utilised in the textile and pesticide industries. Textile mills and garment factories were temporarily closed due to the pandemic threat during the lockdown. Similarly, the import and export markets were closed. Which kept the market in balance throughout the lockdown.

Competitive Section

Key players are operating in the global pyridine market are Jubilant Life Sciences Ltd., Lonza Group Ltd., Vertellus Specialties Inc., Resonance Specialties Limited, Red Sun Group, Shandong Luba Chemical Co., Ltd., Koei Chemical Co., Ltd., and Weifang Sunwin Chemicals Co., Ltd.

Few Recent Developments

  • In May 2020, Trineso agreed to buy of Synthomer PLC's vinyl pyridine latex business expanding the company's product line.
  • In June 2021, Vertellus has agreed to acquire ESIM Chemicals' intermediates and specialties business, a leading supplier of specialised chemical products to the pharmaceutical, coatings, and fuel and lubricant industries.
  • In February 2021, Lonza has receives Award as one of the World's Most Ethical Companies by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices.

Pyridine is widely used as a fungicide and solvent, as well as in the production of various pharmaceuticals. It is also use to produce products such as medicines, vitamins, food flavorings, pesticides, paints, dyes, rubber products, adhesives, and waterproofing for fabrics. Pyridine can also be formed from the breakdown of many natural materials in the environment.

Market Dynamics

Increasing production and demand for sports utility vehicles, crossovers, and hybrid vehicles is expected to propel growth of the global pyridine market during the forecast period. For instance, in July 2020, Mitsubishi Motors unveiled a new three-year mid-term business plan dubbed “small but beautiful” which will priorities the launch of environmentally friendly HEV models.

The pyridine market in Asia Pacific is witnessing several regulatory changes. For instance, in November 2019, Ministry of Commerce, China, terminated its six-year long anti-dumping measures on pyridine imports from India and Japan. Earlier in 2013, China imposed five-year anti-dumping tariffs on Indian and Japanese imports.

The pyridine market is witnessing increase in cost of pyridine derivatives.   For instance, in May 2021, Trinseo SA., a materials supplier, announced increase in the prices of all vinyl pyridine latex sold into the tire cord market in Europe, Middle East and Africa.

Key features of the study:

  • This report provides in-depth analysis of the global pyridine market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global pyridine market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Jubilant Life Sciences Ltd., Lonza Group Ltd., Vertellus Specialties Inc., Resonance Specialties Limited, Red Sun Group, Shandong Luba Chemical Co., Ltd., Koei Chemical Co., Ltd., and Weifang Sunwin Chemicals Co., Ltd.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global pyridine market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global pyridine market.

Detailed Segmentation:

  • Global Pyridine Market, By Product Type:
    • Pyridine N-oxide
    • Alpha Picoline
    • Beta Picoline
    • Gamma Picoline
    • 2-Methyl-5-Ethylpyridine (MEP)
  • Global Pyridine Market, By Application:
    • Pharmaceutical
    • Agrochemicals
    • Food
    • Chemicals (Solvent and Denaturant)
    • Others (Dyestuffs, Alcohol)
  • Global Pyridine Market, By Region:
    • North America
      • By Product Type
        • Pyridine N-oxide
        • Alpha Picoline
        • Beta Picoline
        • Gamma Picoline
        • 2-Methyl-5-Ethylpyridine (MEP)
      • By Application:
        • Pharmaceutical
        • Agrochemicals
        • Food
        • Chemicals (Solvent and Denaturant)
        • Others (Dyestuffs, Alcohol)
    • Latin America
      • By Product Type
        • Pyridine N-oxide
        • Alpha Picoline
        • Beta Picoline
        • Gamma Picoline
        • 2-Methyl-5-Ethylpyridine (MEP)
      • By Application:
        • Pharmaceutical
        • Agrochemicals
        • Food
        • Chemicals (Solvent and Denaturant)
        • Others (Dyestuffs, Alcohol)
    • Europe
      • By Product Type
        • Pyridine N-oxide
        • Alpha Picoline
        • Beta Picoline
        • Gamma Picoline
        • 2-Methyl-5-Ethylpyridine (MEP)
      • By Application:
        • Pharmaceutical
        • Agrochemicals
        • Food
        • Chemicals (Solvent and Denaturant)
        • Others (Dyestuffs, Alcohol)
    • Asia-Pacific
      • By Product Type
        • Pyridine N-oxide
        • Alpha Picoline
        • Beta Picoline
        • Gamma Picoline
        • 2-Methyl-5-Ethylpyridine (MEP)
      • By Application:
        • Pharmaceutical
        • Agrochemicals
        • Food
        • Chemicals (Solvent and Denaturant)
        • Others (Dyestuffs, Alcohol)
    • Middle East & Africa
      • By Product Type
        • Pyridine N-oxide
        • Alpha Picoline
        • Beta Picoline
        • Gamma Picoline
        • 2-Methyl-5-Ethylpyridine (MEP)
      • By Application:
        • Pharmaceutical
        • Agrochemicals
        • Food
        • Chemicals (Solvent and Denaturant)
        • Others (Dyestuffs, Alcohol)
  • Company Profiles
    • Jubilant Life Sciences Ltd.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Lonza Group Ltd.
    • Vertellus Specialties Inc.
    • Resonance Specialties Limited
    • Red Sun Group
    • Shandong Luba Chemical Co., Ltd.
    • Koei Chemical Co., Ltd.
    • Weifang Sunwin Chemicals Co., Ltd.

 “*” marked represents similar segmentation in other categories in the respective.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTER’s Analysis
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
  4. Global Pyridine Market - Impact of Coronavirus (Covid-19) Pandemic
    • Overview
    • Factors Affecting Global Pyridine Market – COVID-19
    • Impact Analysis
  5. Global Pyridine Market, By Product Type, 2017 - 2028 (US$ Million and Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Pyridine N-oxide
      •  Market Share Analysis, 2017 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
    • Alpha Picoline
      • Market Share Analysis, 2017 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Beta Picoline
      • Market Share Analysis, 2017 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Gamma Picoline
      • Market Share Analysis, 2017 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • 2-Methyl-5-Ethylpyridine (MEP)
      • Market Share Analysis, 2017 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 – 2028
  6. Global Pyridine Market, By Application, 2017 - 2028 (US$ Million and Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Pharmaceutical
      • Market Share Analysis, 2017 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Agrochemicals
      • Market Share Analysis, 2017 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Food
      • Market Share Analysis, 2017 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Chemicals (Solvent and Denaturant)
      • Market Share Analysis, 2017 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Others (Dyestuffs, Alcohol)
      • Market Share Analysis, 2017 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 – 2028
  7. Global Pyridine Market, By Region, 2017- 2028 (US$ Million and Tons)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2028 (%)
      • Y-o-Y Growth Analysis, By Region, 2021 - 2028
    • North America
      • Market Size and Forecast, By Product Type, 2017- 2028 (US$ Million and Tons)
      • Market Size and Forecast, By Application, 2017- 2028 (US$ Million and Tons)
    • Latin America
      • Market Size and Forecast, By Product Type, 2017- 2028 (US$ Million and Tons)
      • Market Size and Forecast, By Application, 2017- 2028 (US$ Million and Tons)
    • Europe
      • Market Size and Forecast, By Product Type, 2017- 2028 (US$ Million and Tons)
      • Market Size and Forecast, By Application, 2017- 2028 (US$ Million and Tons)
    • Asia Pacific
      • Market Size and Forecast, By Product Type, 2017- 2028 (US$ Million and Tons)
      • Market Size and Forecast, By Application, 2017- 2028 (US$ Million and Tons)
    • Middle East & Africa
      • Market Size and Forecast, By Product Type, 2017- 2028 (US$ Million and Tons)
      • Market Size and Forecast, By Application, 2017- 2028 (US$ Million and Tons)
  8. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • Jubilant Life Sciences Ltd.
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Lonza Group Ltd.
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Vertellus Specialties Inc.
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Resonance Specialties Limited
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Red Sun Group
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Shandong Luba Chemical Co., Ltd.
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Koei Chemical Co., Ltd.
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Weifang Sunwin Chemicals Co., Ltd.
        • Product Portfolio
        • Financial Performance
        • Key Strategies
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 50 market data tables* and 45 figures* on "Pyridine Market” – global forecast to 2028

FAQgrowicon

Frequently Asked Questions

The market for global pyridine market is forecast to surpass US$ 2,228.3 million by 2028 witnessing a CAGR of 9.5% between 2021 and 2028.
Growing demand for synthetic pyridine from chemicals and pharmaceutical sectors and high demand for pyridine as an active ingredient in agrochemicals are factors boosting adoption of pyridine.
Strict rules and regulations associated with the use of pyridine and harmful composting while using pyridine as an herbicide are factors hindering growth of the market.
The market was valued at US$ 1,086.7 million in 2020.
Product Type (segment) held dominant position in the market in 2020.
Growing consumption of Vitamin B3 in industrial applications is a major trend in the market.
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