Acetonitrile is a chemical compound, colourless liquid, and organic nitrile mainly used as a polar aprotic solvent in butadiene's organic synthesis and purification. According to BlueQuark Research & Consulting, the global Acetonitrile market is expected to witness a significant growth rate during the forecasted period. Factors such as the rapid expansion of the pharmaceutical and petrochemical industries are expected to drive the Acetonitrile market in the forecasted period. Further, escalating usage of acetonitrile in the development of personal care and cosmetic products is expected to drive the Acetonitrile market in the forecasted period. Furthermore, the growing demand for speciality solvents, polymer products, UV spectroscopy, polarography, and lithium batteries drive the global Acetonitrile Market in the forecasted period. However, variation in the price of acetonitrile due to a scarcity of raw material is likely to stifle the global Acetonitrile Market growth during the forecasted period.

The ever-growing pharmaceutical industry is significantly driving the global acetonitrile market. The demand for pharmaceuticals is rapidly increasing owing to the rising healthcare sector and advancing technologies. The product is widely used as a solvent in manufacturing insulin and antibiotics. It also finds its uses in DNA synthesis. The high demand for acetonitrile is due to its impeccable solvation ability toward a wide range of polar and nonpolar solutes and physical properties such as low freezing boiling points, low viscosity, and relatively low toxicity Currently, the global pharmaceuticals industry reports two primary uses of acetonitrile, Li, as laboratory solvents, particularly as a mobile phase in liquid chromatography analytical techniques and as an industrial process solvents in the manufacturing of antibiotics. Due to the need for high-purity solvents in analytical techniques like high-performance liquid chromatography (HPLC), laboratories tend to use "Analar" grade acetonitrile. At the same time, industrial applications favour "technical grade" acetonitrile due to bulk requirements and lower cost. In both cases, the solvent is highly refined in terms of purity, typically >99.9% for Analar and >99.5% for technical grade. The Acetonitrile Market is being propelled by demand for acetonitrile products such as acrylic fibres, polyacrylamide, and acrylic plastics. Moreover, the market is lucrative with increased spending in the healthcare industry. Also, constant research and development (R&D) activities are being carried out for the development of new medicines and to keep improving the quality of their products to satisfy the standard requirements according to the environmental regulations in different areas, fueling the growth of the Acetonitrile Market.

Asia Pacific is considered a dominant region for acetonitrile and derived its products, owing to the rising production of generic pharmaceuticals, engineered drugs, and pesticides. The acetonitrile market is also aided by its rising application in the HPCL sector, high-performance liquid chromatography. The increasing use of acetonitrile in synthesizing several nutrients also propels the market growth. Acetonitrile has wide applications as a solvent in UV spectroscopy, polarography, and lithium batteries. The product helps cast and mould plastic materials and spinning fibres. It is also a solvent for extracting oleochemicals like fatty acids from animal and vegetable oils. In chemical laboratories, it can be used to detect chemical residues. The growth in the demand for acrylonitrile products such as acrylic fibres, polyacrylamide and acrylic plastics and the increase in popularity of the chemical in the plastic industry as they are used to obtain pure acrylonitrile and acrylonitrile butadiene styrene (ABS) plastic offering impact strength, high tensile and optimal resistance against chemicals and various plasticizer accelerate the acetonitrile market growth. The consumer preference towards aqueous acetonitrile as an extraction solvent in the agricultural sector to synthesize pesticide residues from agrarian samples and high usage of the chemical for high-performance liquid chromatography performed to separate, identify and quantify a component in a mixture further influence the acetonitrile market. Additionally, the high demand for ABS worldwide, growing infrastructural activities, order for acetonitrile for drug recrystallization, rising need for lightweight vehicles and increasing use in HPLC applications as an organic solvent positively affect the acetonitrile market. Additionally, the rising production of agricultural pesticides using acetonitrile as a raw material and the increased consumption & production of epoxy hardeners in addition to agrochemicals are driving the expansion of the global acetonitrile market. Acetonitrile's solubility properties and ability to dissolve a range of substances make it helpful in formulating and delivering agrochemical products. When applied to crops, it can help dissolve active ingredients and enhance their dispersion and efficacy.

Some of the market's key players are Filo Chemical, NeuChem, Continental Industries Group, Achemica, and GFS Inc.

In March 2020, Huntsman International LLC unveiled its Spray Polyurethane Foam business to increase its portfolio of products. They also acquired SPF company Demilic in 2018.

Global Acetonitrile Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Acetonitrile market by segmenting based on the By Type (Derivative, Solvent), By Application (Pharmaceutical, Agrochemical, Extraction, Analytical Industry), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on market growth in detail. The study covers and includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.