Pyridine and Pyridine Derivatives Market by Type (Pyridine, Beta Picoline, Alpha Picoline, Gamma Picoline, and Others), Application (Agrochemicals, Petrochemicals, Latex, Food, and Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 700 million marks in 2022 and is expected to hit US$ 1,140 million by 2030, recording a CAGR of 6% during the forecast period.
Increasing pyridine derivatives’ usage in paints and coatings industry to drive market growth
Increasing pyridine derivatives and salts usage in the manufacturing of paint and coating materials is expected to drive the market growth. In addition, growing awareness regarding the pyridine-based solutions among farmers for the pesticides and insecticide applications is likely to favor the market growth. Furthermore, increasing pyridine composition’s usage in producing antioxidant, antiviral, and antimicrobial property-based drugs is likely to drive the pyridine’s demand globally.
Within the report, the market is segmented into type, application, and geography. By type, the market is further segmented into pyridine, beta picoline, alpha picoline, gamma picoline, and others. By application, the market is segregated into agrochemicals, petrochemicals, latex, food, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Rising R&D efforts in the area of reducing the toxicity of pyridine to favor market growth
Rising R&D efforts in developing pyridine compositions of lesser toxicity for the pharmaceutical and food & beverage applications is expected to offer newer market growth opportunities. In addition, pyridines are extensively used to enhance the mouth cleansing effectiveness of oral care products. Furthermore, increasing usage of the pyridine compositions in the production of automobile tires, fabric-reinforced rubbers, and conveyor belts is likely to favor the market growth.
Increasing usage in various crop fields to drive market growth.
Increasing usage of the pyridine-based compounds in the production of fungicides, herbicides, and insecticides is expected to favor the market growth. Furthermore, rising usage of the pyridine and pyridine derivatives in other industries such as petrochemicals, latex, food, and others is also expected to aid the market growth during the forecast period.
Recent strategic developments in pyridine and pyridine derivatives market
The pyridine and pyridine derivatives market has undergone several significant developments, and a few of these have been mentioned below:
- In May 2020, Trinseo, a global materials company acquired Synthomer Plc.’s vinyl pyridine latex business.
- In January 2020, Synthomer plc, a British chemical company acquired OMNOVA Solutions Inc. to expand its business of manufacturing specialty chemicals including pyridine latex.
The pyridine and pyridine derivatives market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. C-Chem Co. Ltd., Chang Chun Petrochemical Co. Ltd., Hubei Sanonda Co. Ltd., Jubilant Life Sciences Ltd., Koei Chemical Co. Ltd. are among the prominent players operating in the market.
Target audience for the report:
- Pyridine and pyridine derivative manufacturer
- Pyridine and pyridine derivative suppliers
- Pyridine and pyridine derivative distributor and exporter
- Chemical industry-related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- End users of pyridine and pyridine derivatives
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Type:
- Pyridine
- Beta Picoline
- Alpha Picoline
- Gamma Picoline
- Others
- Application:
- Agrochemicals
- Petrochemicals
- Latex
- Food
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- C-Chem Co. Ltd.
- Chang Chun Petrochemical Co. Ltd.
- Hubei Sanonda Co. Ltd.
- Jubilant Life Sciences Ltd.
- Koei Chemical Co. Ltd.
The List of Companies
- C-Chem Co. Ltd.
- Chang Chun Petrochemical Co. Ltd.
- Hubei Sanonda Co. Ltd.
- Jubilant Life Sciences Ltd.
- Koei Chemical Co. Ltd.