The global pyridine market is expected to grow at a CAGR of around 4% during the forecast period (2021-2026).
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
Pyridine is a heterocyclic organic compound that is basic in nature and has the chemical formula of C5H5N. It is a colorless and water-soluble compound that has a strong odor and is toxic in nature. It can be synthesized from crude coal tar or through the chemical breakdown of various naturally occurring elements. It is widely used as a solvent and is added to ethyl alcohol to produce sulfapyridine and pyribenzamine along with drugs that are used for antibacterial and antihistaminic purposes.
The thriving pharmaceutical and agrochemical industries are the key factors driving the growth of the market. Pyridine derivatives such as beta picoline are used to manufacture vitamin B3 and B6, which help to improve digestion, maintain cholesterol levels, cure skin diseases and reduce the risk of cardiovascular problems. Furthermore, the growing production of insecticides, herbicides and fungicides have led to the increased utilization of pyridine as a raw material. Pyridine is also widely used as a solvent to produce medicines, chemicals and adhesives. Its derivatives are used as a denaturant for manufacturing antifreeze mixtures that are extensively used in cars, trucks and other automobiles. Moreover, rising industrialization along with expanding manufacturing and food & beverage industries, which use pyridine as a low-volume additive for flavoring products, is also projected to drive the market further. Other factors contributing to the market growth include increased focus on research and development (R&D) activities to develop pyridine with reduced toxicity.
Report Coverage: Historical, Current and Future Market Trends
Market Breakup by Synthesis: Chemically Synthesized Pyridine Coal Tar Extracted Pyridine
Market Breakup by End-Use Industry: Agrochemicals Pharmaceuticals Chemicals Food Others
Market Breakup by Application: Solvent Pesticides Rubber Medicines Paints and Dyes Others
Market Breakup by Region: Asia Pacific Europe North America Middle East and Africa Latin America
Competitive Landscape: The report has also analysed the competitive landscape of the market with some of the key players being Vertellus, Red Sun Group, Jubilant Life Sciences, Lonza, Resonance Specialties, DowDuPont, Shandong Luba Chemical, Koei Chemical Company, Seidler Chemical Company, Weifang Sunwin Chemicals Company, Novasyn Organics, Nippon Steel & Sumikin Chemical Company, etc.
Key Questions Answered in This Report: How has the global pyridine market performed so far and how will it perform in the coming years? What are the key regional markets in the global pyridine industry? What has been the impact of COVID-19 on the global pyridine industry? What is the breakup of the market based on the product type? What is the breakup of the market based on the synthesis type? What is the breakup of the market based on the end-use industry? What is the breakup of the market based on the application? What are the various stages in the value chain of the global pyridine industry? What are the key driving factors and challenges in the global pyridine industry? What is the structure of the global pyridine industry and who are the key players? What is the degree of competition in the global pyridine industry? What are the profit margins in the pyridine industry?
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