Pyridine Market

Global Pyridine Market Snapshot

According to Persistence Market Research's most recent industry analysis, the global pyridine market will reach US$ 1,425.3 Mn in 2023. Pyridine's market is expected to grow steadily at a 7.3% annual growth rate to reach a value of US$ 2,883.4 Mn by 2033.

Pyridine is a heterocyclic organic compound with one methine group and the chemical formula C5H5N. It and benzene have comparable structural features. Pyridine is highly sought-after because of all the applications it has in antifreeze, agrochemicals, food additives, medicine, and other areas. Growing agricultural production and pest management techniques are expanding pyridine's potential for growth and driving the pyridine market.

Earlier pyridine was recommended for use as a solvent in chemicals, adhesives, and pharmaceuticals. The manufacturing of medications, food flavoring additives, agrochemicals, and other goods can use pyridine derivatives as a raw material, though. Pyridine derivatives can also be used to denaturation antifreeze mixtures.

Pyridine's prospects for expansion and the pyridine market are being driven by rising agricultural productivity and pest control methods. The India Brand Equity Foundation (IBEF) forecasts that by 2025, India's agricultural sector will generate US$ 24 billion. The UK's agricultural output climbed by 2.6% in volume in 2021, with grain production increasing by 23% and crop products by 24%, according to the Office for National Statistics. The demand for pyridine and its derivatives is also influenced by the growth of the medical sector and a rise in spending on prescription drugs.

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Historical (2016-22) v/s Forecast (2023-33) Market Outlook for Pyridine Market

The historical study shows that from 2017 to 2022, the pyridine market grew at a compound annual growth rate (CAGR) of 8.2%. Due to production disruption, supply chain disruption, declining demand from significant end-use industries, and other tight restrictions, the covid-19 epidemic had a significant negative influence on the growth of the pyridine industry. The demand for pyridine is increasing, nevertheless, due to its wide range of applications and uses in the food and beverage, chemical, agrochemical, and other industries. As a result, it is projected that the pyridine industry will expand quickly and contribute to the size of the pyridine market during the forecast period.

It is projected that the pyridine market will expand more swiftly than in the past. The market is anticipated to grow at a CAGR of 7.3% over the anticipated period. The chemicals and pharmaceutical industries' rising demand for synthetic pyridine is anticipated to fuel market expansion. The growing desire for higher-quality yield crops and increased global food consumption are driving significant pesticide demand and market expansion. The reason for this is growing populations. Additionally, during the course of the forecast period, the market expansion for pyridine is anticipated to be aided by the increased adoption of modern farming techniques.

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Market Dynamics

Thriving demand from the Pharmaceutical industry creates ample space for Pyridine

The natural material pyridine, which resembles benzene chemically and has one methine group, is frequently used in the agricultural sector due to its potential usage in a range of pharmaceuticals, antiseptics, vitamin B3 products, and other items. The prevalence of chronic illnesses, rising healthcare infrastructure expenditures, and excessive medication spending are only a few of the factors contributing to the medical and pharmaceutical sectors' pronounced growth.

For instance, The International Trade Administration predicts that China's medical equipment market would grow by 6.2% between 2020 and 25. The International Federation of Pharmaceutical Manufacturers & Associations (IFPMA) estimates that the North American pharmaceutical industry will increase by 5.4% in 2022. Canadian medicine sales climbed from US$28.3 billion in 2018 to US$29.9 billion in 2020, according to the Canadian government. The pyridine industry is being driven by the rising use of pyridine in medicines, vitamins, pharmaceuticals, and other products as a result of the medical and pharmaceutical industries' strengthening expansion.

Significant Market Traction from Food & Beverage to Flourishing the Market Growth for Pyridine

Pyridine is a heterocyclic chemical compound that is used extensively in the food business as a flavor and additive. Due to factors including increased production of dairy, baked goods, fruits, and vegetables, increased demand for ready-to-eat food products, and greater disposable income, the food industry is growing substantially.

For instance, the Indian food processing industry is projected to reach US$535 billion by the years 2025–2026, according to the India Brand Equity Foundation (IBEF). According to the Food & Drink Federation, the UK's food and beverage industry contributed US$35.60 billion to the economy in 2021 compared to 2020, growing by 4.3%. Therefore, the use of pyridine as a food additive and flavoring agent is expanding, which in turn is driving the pyridine business. This is due to the quick expansion in food and beverage production and growth scope.

Strict Regulations to Constraint the market growth for Pyridine.

The stringent laws and regulations controlling the usage of pyridine are seriously hindering market expansion possibilities. For instance, the Occupational Safety and Health Administration states that the daily allowable intake (ADI) for pyridine for inhalation exposure is 0.002 mg/kg per day and that the substance's reportable quantity (RQ) value is 100.

On the other hand, Composting suffers when pyridine is used as a pesticide or herbicide, which is one of the growth-restricting factors. When used extensively, pyridine has the potential to contaminate the feedstock for compost, including dung, hay, and other materials. Thus, as a result of these factors, the pyridine industry has experienced a severe slowdown.

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Country-wise Insights

What is the market scenario of Pyridine in the Chinese market?

China is anticipated to account for a sizeable portion of the global pyridine market in terms of volume and value due to the increasing demand from end-use industries such as pharmaceuticals, agriculture, and chemicals.

Pyridine sales in China are anticipated to grow at a steady 7.7% rate. The profitable growth potential for pyridine in China is impacted by the expansion of the agrochemicals industry, increased expenditures on healthcare and pharmaceuticals, and urbanization. Growing farming operations and increased manufacturing of herbicides, insecticides, and fertilizers have an impact on China's agriculture sector's lucrative expansion. For instance, China produced over 260 thousand tons of maize, 146 thousand tons of rice, and 133 thousand tons of wheat in 2019, according to the Organization for Economic Cooperation and Development (OECD). China produced 26% of the world's rice and 16% of the world's wheat in 2020, according to the OECD-FAO Agricultural Outlook.

Due to China's brisk agricultural output and farming operations, more pyridine will likely be used in agrochemicals, pesticides, fertilizers, and other products. This will increase the market's potential for growth over the coming years.

What Is the Growth Outlook of the Pyridine Market in India?

The Indian Pyridine Industry is exhibiting Rapid Spike In Growth with a Value CAGR of 8.4% due to growth factors including the flourishing base for the medical & pharmaceutical sector and rising agricultural production, which drives growth in India. Demand for pyridine, which is largely utilized as an active ingredient in pesticides, herbicides, and fertilizers, is rising as a result of India's expanding agricultural sector. The pyridine market's size is being impacted by this.

According to the National Investment Promotion & Facilitation Agency, India's total production of food grains rose by 11.15 million tons in 2020–21 compared to the previous year. The pyridine market is expanding at a rapid rate as a result of India's active farming and agricultural industries.

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Category-wise Insights

What is the demand outlook of the Pyridine N-Oxide segment in the Pyridine market?

Pyridine N-Oxide held a sizeable market share in 2022, and it is anticipated that this sector will continue to rule over the anticipated period with a value share of 40.50% in the global market.

The pyridine N-Oxide offers a strong potential for reactivity with both electrophilic and nucleophilic reagents. As a pharmacological metabolite, it is increasingly used in the pharmaceutical industry. Additionally, the booming medical and pharmaceutical industries are boosting Pyridine N-growth Oxide's possibilities. Thus, it is projected that the pyridine N-Oxide segment will expand quickly in the pyridine market during the forecast period due to the medical and pharmaceutical sector's bolstered expansion due to its application in pharmaceuticals, treatments, and other products.

How does the pharmaceutical segment fairing in the Pyridine market?

On average, 37.9% of the pyridine produced worldwide is used by the pharmaceutical industry. Pyridine is often used in pharmaceuticals because of its features, which include basicity, water solubility, stability, ability to form hydrogen bonds, and small molecular size. Pharmaceuticals that contain pyridine and dihydropyridine are frequently used as psychopharmacological antagonists, antiamebic compounds, antibacterial, antiviral, anticancer, antioxidant, antihypertensive, antidiabetic, antimalarial, and anti-inflammatory drugs.

The chemicals and pharmaceutical industries' rising demand for synthetic pyridine is anticipated to fuel market expansion. The only alternative to meeting the huge demand for pyridines, which comprises 95% of global output, is synthetic pyridine, according to PMR research. Huge demand for the product is being driven by robust growth in the chemical and pharmaceutical industries, and this is anticipated to promote market growth throughout the forecast period.

Competitive Landscape

Market To meet the escalating demands of end consumers, players from around the world are investing money to increase their capacity for producing pyridine. A wide range of market opportunities has been created by the numerous technology advancements and the major competitors' increasing efforts to expand through mergers, strategic alliances, and partnerships. To keep one step ahead of the competition, players are working exceptionally hard to develop and execute cutting-edge technological innovations. The pyridine market appears to have tremendous potential for global expansion in the years to come, according to all of these recent developments.

For instance,

In June 2021, Vertellus, a well-known supplier of specialized chemical products to the pharmaceutical, coatings, fuel, and lubricant industries, agreed to purchase the intermediates from ESIM Chemicals.

In May 2020, Trinseo bought the Vinyl Pyridine Latex division of Synthomer plc, enhancing and increasing the product offering.

Scope of Report

Pyridine Market Segmentation

By Product type, the Pyridine market is segmented as:

• Pyridine N-oxide
• Alpha Picoline
• Beta Picoline
• Gamma Picoline
• 2-Methyl-5-Ethylpyridine (MEP)

By End-Use, the Pyridine market is segmented as:

• Agrochemicals
• Pharmaceuticals
• Chemicals
• Building & Construction
• Food & Beverage
• Others (Dyestuffs, Alcohol)

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa