The report predicts the global Pyridine & Pyridine Derivatives Market to grow at a healthy CAGR over the forecast period from 2022-2031.
The pyridine & pyridine derivatives market is expected to grow at a CAGR of 6.6% during the forecast period
The pyridine & pyridine derivatives market is projected to reach USD 656.3 million by 2031, at a CAGR of 6.6% from 2022 to 2031. Pyridine is a colorless liquid with an unpleasant smell. Pyridine is naturally found in coal and low-temperature tar and is also found in different types of pyrogenic oil. Pyridine is obtained from coal tar and also can be synthesized from acetaldehyde, ammonia, and formaldehyde. There has been a growing demand for pyridine due to its various applications, such as agrochemicals, pharmaceuticals, latexes, food, and others.
The growing use of vitamin B3 which is produced by the pyridine derivative, beta picoline is driving the pyridine market. The market is led by Chinese manufacturers focusing on expanding their production capacities. Pyridine is majorly used in the manufacture of parquat and diquat. It is also used in the manufacture of dyestuffs and textiles, while beta picoline is used to produce vitamin B3 (Niacinamide), alpha picoline is used in latex and other agrochemicals, and gamma picoline is used in 4-vinylpyridine.
Beta picoline; the leading type in the pyridine & pyridine derivatives market by value
The beta picoline type in the pyridine & pyridine derivatives market is projected to witness high growth during the forecast period. This type of pyridine is widely used for producing vitamin B3. In addition, Vitamin B3 (Niacin) is used in pharmaceutical applications such as for the treatment of skin diseases, to promote digestive functions, to lower the risk of high cholesterol, and for diabetes. It is used in cosmetics, and in skin care products. Beta picoline is used as an intermediate for different agrochemicals, such as chlorpyrifos, haloxyfop, and fluazifop butyl. It is also used in pharmaceutical intermediates.
Pharmaceuticals; the fastest-growing application in the pyridine & pyridine derivatives market
Pharmaceutical is projected to be the fastest-growing application in the pyridine & pyridine derivatives market during the forecast period. A major driver of the pharmaceutical application is the growing demand for vitamin B3 which is manufactured using the pyridine derivative, beta picoline. Pyridine is used in the manufacture of pharmaceuticals such as CNS stimulants, and local anesthetics. It is applied in the manufacture of sulfa drugs. Pyridine is the intermediate for anti-infectives (including cetylpyridinium), antihistamines (including chloropheniramine maleate). Also Gamma Picoline is used in the pharmaceutical industry for the manufacture of an anti-tuberculosis drug, Isoniazid.
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Asia-Pacific is projected to be the fastest-growing market for pyridine & pyridine derivatives during the forecast period
The Asia-Pacific is projected to be the largest and the fastest-growing market for pyridine & pyridine derivatives during the forecast period, globally, due to the growing population, increasing demand for food, low farm yields, and growing pharmaceutical industry in the region. Manufacturers of pyridine & pyridine derivatives are targeting this region as it has the fastest-growing industrial sector.
India, China, Japan, Thailand, and Malaysia are the major countries contributing to the growth of pyridine & pyridine derivatives market in this region. The increasing demand for pyridine & pyridine derivatives from applications such as agrochemicals, pharmaceuticals, and latexes is expected to drive the pyridine market in these countries.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments and information gathered through secondary research.
The break-up of primary interviews is given below:
- By Company Type – Tier 1 – 30%, Tier 2 – 43%, and Tier 3 – 27%
- By Designation – C level – 21%, Director level – 23%, and Others – 56%
- By Region – North America – 30%, Europe – 18%, Asia-Pacific- 41%, South America- 6%, and Middle East & Africa -5%
The companies profiled in the pyridine & pyridine derivatives market research report are Jubilant Life Sciences Ltd. (India), Vertellus Holdings LLC (U.S.), Lonza Group AG (Switzerland), Nanjing Redsun Co. Ltd. (China), Resonance Specialties Ltd. (India), Shandong Luba Chemical Co. Ltd. (China), Hubei Sanonda Co. Ltd. (China), Chang Chun Petrochemical Co. Ltd. (Taiwan), Koei Chemical Co. Ltd. (Japan), and C-Chem Co., Ltd. (Japan).
This research report categorizes the pyridine & pyridine derivatives market on the basis of type, application, and region. The report includes detailed information regarding the major factors influencing the growth of the pyridine & pyridine derivatives market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into business overviews, products & services, key strategies, expansions, mergers & acquisitions, new product developments, agreements, and recent developments associated with the market.
Reasons to Buy the Report
The report will help market leaders/new entrants in this market in the following ways:
- This report segments the pyridine & pyridine derivatives market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions.
- The report will help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders understand the major competitors and gain insights to enhance their positions in the business. The competitive landscape section includes expansions, acquisitions, and new product developments.
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