The Global Pyridine Market was valued at US$ 1,086.7 million in 2020, according to Pyridine Market Report, 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), and Others (Dyestuffs, Alcohol)), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa), published by Coherent Market Insights.
The global pyridine market was valued at US$ 1,086.7 million in terms of revenue in 2020 and is predicted to grow at a CAGR of 9.5% during the forecast period (2021 to 2028). Pyridine is a flammable liquid with a strong odor. It is toxic in nature and soluble in most of the organic solvents. Pyridine is a simple heterocyclic organic compound that has chemical formula C5H5N. It is mostly used as a precursor in the manufacturing of agrochemicals and pharmaceuticals. Oilfield, animal nutrition, and food & beverage are some of the key applications of pyridine.
To know the latest trends and insights prevalent in this market, click the link below:
Browse 50 market data tables* and 45 figures* on “pyridine market” - Global Forecast to 2028.
Key Trends and Analysis of the Pyridine Market:
- The growing food &beverage industry due to increasing consumer spending on food products is projected to foster market growth. The increasing consumption of processed food products among consumers is one of the emerging trends. Consumption of processed food products is driving demand for additives such as pyridine. The increasing young population along with the hectic lifestyle of the consumers is also expected to propel demand for processed food products this in turn is propelling the market growth of pyridine. Moreover, increasing investment in the food &beverage industry across India, the U.S, U.K, France, Russia, and Spain is further propelling the market growth.
- Acquisition and merger among entering into a new market are one of the emerging trends. For instance, in May 2020, Trinseo a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber, announced it has completed the acquisition of the vinyl pyridine latex (VP latex) business from Synthomer plc. VP latex is an essential ingredient in binders for coating tire cord fabrics, ensuring a strong bond between the tire cord and rubber during the tire manufacturing process.
- Increasing research by key companies to improve chemical functionalities of pyridine and its derivatives, for increasing its uptake as agrochemicals products are projected to bring new market opportunities. For instance, companies such as Dow AgroSciences LLC, FUJIYAKUHIN CO., LTD, are applying for patents for agrochemical pyridine compounds used in pesticides. Pyridine is widely used in the production of various agrochemicals products such as insecticides, fungicides, and herbicides.
Global Pyridine Market: Recent Developments
- In October 2021, Lonza, a global manufacturing partner to the pharmaceutical, biotechnology, and nutrition industries, confirmed that it will invest in mammalian development services in Singapore.
- In September 2021, Lonza, a global manufacturing partner for the pharmaceutical, biotech, and nutrition industries, stated that it will expand its drug product manufacturing capacity in Switzerland.
- In August 2021, Lonza, a global manufacturing partner for the pharmaceutical, biotechnology, and nutrition industries, has declared that it will invest in developing drug product manufacturing capabilities at its Guangzhou, China, facility. The new investment will be used to establish an aseptic drug product fill and finish factory.
- Anti-dumping duty in China is inhibiting the market growth of pyridine. For instance, a five-year anti-dumping duty has been imposed in China on the import of pyridine from India and Japan. The tariff ranges from 24.6% to 57.4%. This anti-dumping investigation was initiated by four key pyridine market players: Weifang Luba Chemical Co. Ltd., Anhui Guoxing Biochemical Co., Ltd., Nanjing Redsun Biochemical Co., Ltd., and Nantong Reilly Chemical Co., Ltd.
- The global pyridine market was valued at US$ 1,086.7 Mn in 2020 and is forecast to reach a value of US$ 2,228.3 Mn by 2028 at a CAGR of 9.5% between 2021 and 2028.
- The Agrochemicals segment was valued US$ 395.15 Mn in 2020 and is expected to witness a CAGR of 8.80% over the forecast period.
- Major players operating in the global pyridine market 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.
- These players are constantly engaged in mergers and acquisitions to gain competitive advantage over other players. For instance, In June 2021, Vertellus has signed a definitive deal to acquire ESIM Chemicals' intermediates and specialties segment (“IM Chemicals”), a prominent distributor of specialty chemical products. The acquisition enhances their ability to meet the needs of the global customer base for specialized products and solutions, adding additional production capacities in Europe and expanding their product offerings into new markets.
Global Pyridine Market - Impact of Coronavirus (Covid-19) Pandemic
Globally, as of 6:57pm CEST, 7 October 2021, there have been 236,132,082 confirmed cases of COVID-19, including 4,822,472 deaths, reported to WHO. As of 6 October 2021, a total of 6,262,445,422 vaccine doses have been administered. Just like other industries, the pandemic has significantly impacted the chemicals sector. Certain sub-sections in the sector are facing a situation of oversupply, while some are reporting significant gap in supply and demand. The industry has also shifted its focus on regional and local value chains, owing to more national industrial policies and investment incentives for domestic production have forced.
By Product Type
- Alpha Picoline
- Beta Picoline
- Gamma Picoline
- 2-Methyl-5-Ethylpyridine (MEP)
- Chemicals (Solvent and Denaturant)
- Others (Dyestuffs, Alcohol)
- North America
- Latin America
- Middle East & Africa