The Global Pyridines market is forecast to reach USD 836.7 Million by 2028, according to a new report by Reports and Data. Pyridine can be described as a basic heterocyclic organic compound, which has a chemical formula C5H5N. This organic compound is correlated to benzene, with one methine group (=CH−) replaced by a nitrogen atom. In regards to its nature, it is weakly alkaline, flammable, unpleasant fish-like smell and water-miscible liquid with a distinctive. This compound is usually colorless; however, impure or older samples can appear yellow. The pyridine ring is formed in various essential compounds like pharmaceuticals, agrochemicals, and vitamins, among others. Historically, the chemical was formed from coal tar. The organic compound have a wide range of application. Pyridine moieties are frequently used in drugs due to its traits like water solubility, basicity, their small molecular size, hydrogen bond-forming ability, and stability. As pyridine rings have the capacity of acting as the amides, bioisosteres of amines, benzene rings and heterocyclic rings containing nitrogen atoms, its replacement by pyridine moieties is essential in drug discovery. The organic compound is found or can be applied to help make solvent and dyes. Thus, such a wide arena of applications of the compound is fostering the growth of the sector.
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Further key findings from the report suggest
- The Pyridines market held a market share of USD 619.3 Million in the year 2020 that is forecasted to grow at a rate of 4.6% during the forecast period.
- In context to Product Type, the Beta Picoline segment is projected to witness a considerable growth rate of 5.4% during the forecast period, which is expected to occupy 20.0% of the market by 2028. The growth rate witnessed by the Beta Picoline segment is attributed to the continuous expansion of the pharmaceutical sector, wherein it is used in manufacturing Vitamin B3. The increasing demand for agrochemicals like Haloxyfop, Chlorpyrifos, and applicability of Beta Picoline in these agrochemicals, wherein it used as intermediate, also contributes to the growth rate of this segment.
- In regards to End-user, the Agrochemicals segment held a considerable share of the market of more than 30.0% in 2020, with a CAGR of 4.8% during the forecast period. The rising emphasis on agriculture because of continuously elevating demand for food products and extensive application of the organic compound as a precursor to the herbicides paraquat and diquat contributes to the market share held by this segment.
- In regards to the region, North America held more than 20.0% of the market in 2020, with a CAGR of 4.6% during the forecast period. The presence of well-established chemical industry and growing pharmaceutical sector is supporting the expansion of the industry in this region.
- Key participants include BASF, Dow Chemicals, Lonza, DuPont, Bayer, Vertellus, Mitsubishi Chemicals, Royal DSM, Sinopec Qilu Petrochemical, and Koei Chemicals.
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Product Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2020-2028)
- Pyridine N-Oxide
- Beta Picoline
- Alpha Picoline
- 2-Methyl-5-Ethylpyridine (MEP)
- Gamma Picoline
End-user Outlook (Volume, Kilo Tons; Revenue, USD Million; 2020-2028)
- Pharmaceuticals
- Agrochemicals
- Food
- Chemicals
- Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2020-2028)
- Pesticides
- Solvent
- Rubber
- Paints and Dyes
- Medicines
- Others
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the Pyridines Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of Pyridines Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the Pyridines Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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