This Persistence Market Research report examines the global pyridine market for the forecast period 2015-2025. The primary objective of the report is to identify opportunities in the market and present updates and insights pertaining to various segments of the global pyridine market.
Pyridine is a toxic and soluble flammable liquid base with a distinct, strong odor. It is often considered the parent compound of several naturally occurring organic compounds. It is the preferred choice as a precursor to agrochemicals and pharmaceuticals. Pyridine-N-Oxide, also known as N-pyridine, is the most commonly used pyridine product type and is primarily used as precursors in chemical reactions. Initially, pyridine was extracted from coal tar or obtained as a by-product of coal gasification. The process was very expensive and inefficient as coal tar constituted only 0.1–0.2% of pyridine after extraction. Currently, pyridine and its derivatives are produced synthetically. The most commonly used reactions for pyridine synthesis are Chichibabin synthesis, Bönnemann cyclization, and Cobalt-catalyzed alkyne-nitrile cyclotrimerization, etc. Agrochemicals segment accounts for the largest share of the pyridine market owing to frequent application of pyridine and its derivatives in pesticides and herbicides. By product type, alpha picoline finds wide application as a solvent in chemicals, pharmaceuticals, and food industries. The segment is projected to exhibit moderate growth over the forecast period.
To understand and assess opportunities in this market, the report is categorically divided into three main market analysis sections, i.e., by product type, by application, and by region. The report analyses the global pyridine market in terms of market value (US$ thousand) and volume (tons).
The report begins with an overview of the global pyridine market, appraising the market performance in terms of revenue and volume, followed by PMR’s analysis of key trends, drivers, and restraints witnessed in the global pyridine market. Impact analysis of key growth drivers and restraints based on the weighted average model are also included in the report to equip the client with crystal-clear, decision-making insights.
The subsequent section analyses the pyridine market as per product type and presents a forecast for the period 2015-2025.
The report assesses the market based on the following product types:
The report further analyzes the market based on the following applications:
Regions assessed in the report are:
To calculate the market size, the report considers various aspects based on secondary research. Furthermore, data points such as regional split, market split by application and by product type as well as qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated by the global pyridine market between 2015 and 2025.
When developing the market forecast, the starting point begins with sizing the current market, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, PMR triangulates the data via a different analysis based on the supply side, demand side, and dynamics of the pyridine market. However, quantifying the market across the above-mentioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.
It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyses on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the market and to identify the right opportunities.
Another key feature of this report is the analysis of pyridine market by region and application and the corresponding revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to identify potential resources from a sales perspective in the global pyridine market.
To understand key segments in terms of growth and performance in the pyridine market, Persistence Market Research has developed a market attractiveness index. The resulting index should help providers identify existing market opportunities in the global pyridine market.
In the final section of the report, the pyridine market competitive landscape is included to provide a dashboard view of companies that manufacture and supply pyridine. The report contains company profiles of some of the major players in the global pyridine market.
Pyridine is a toxic and soluble flammable liquid base with a distinct, strong odor. It is often considered the parent compound of several naturally occurring organic compounds. It is the preferred choice as a precursor to agrochemicals and pharmaceuticals. Initially, pyridine was extracted from coal tar or obtained as a by-product of coal gasification. The process was very expensive and inefficient as coal tar constituted only 0.1–0.2% of pyridine after extraction. Currently, pyridine and its derivatives are produced synthetically. The most commonly used reactions for pyridine synthesis are Chichibabin synthesis, Bönnemann cyclization, and Cobalt-catalyzed alkyne-nitrile cyclotrimerization, etc.
Drivers and Trends
Growing demand for pyridine and its derivatives arising from pharmaceuticals and agrochemicals applications due to multiple chemical functionalities is expected to drive the market during the forecast period. Pyridine was used only as a solvent in chemicals, adhesives, and pharmaceuticals, but pyridine derivatives are now increasingly being used as starting material in the manufacture of agrochemicals, pharmaceuticals, food-flavoring additives, etc. Pyridine derivatives are also used as a denaturant for antifreeze mixtures. Advancement in biocatalysts processes, increase in demand for synthetic pyridine, and increasing applications of pyridine in pesticides and herbicides are some other factors driving the growth of the global pyridine market. Extensive research is being conducted by companies to increase chemical functionalities of pyridine and its derivatives in order to increase its uptake in agrochemicals such as fungicides, insecticides/acaricides, and herbicides.
Persistence Market Research, in its report titled, “Global Market Study on Pyridine Market: Increasing Demand for Synthetic Pyridine to Drive Growth during Forecast Period 2015 -2025”, has categorized the global pyridine market into key segments based on product type, application, and region. On the basis of product type, the market is segmented into pyridine N-oxide, alpha picoline, beta picoline, gamma-picoline, and 2-Methyl-5-Ethylpyridine (MEP). On the basis of application, the global pyridine market is segmented into agrochemicals, pharmaceuticals, chemicals, food, and others. On the basis of region, the overall pyridine market is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
Analysis, by Region
Asia Pacific is expected to expand at an accelerated CAGR of 8.7% in terms of volume in the global pyridine market during the forecast period. The region has been estimated to account for volume share of around 38.3% of the global pyridine market by 2015 end. In terms of market value, Europe is expected to account for a major share of the global pyridine market during the forecast period, followed by Asia Pacific and North America.
Analysis, by Application
Agrochemicals segment has been estimated to account for the largest share of the global pyridine market in 2015 and is expected to expand at a CAGR of 8.5% over 2015–2025 in terms of value. Denaturant sub-segment is expected to be the key contributor to the rapid growth of chemicals segment through 2025. The sub-segment is expected to exhibit above-average CAGR of 7.4% over the forecast period in terms of value. New product launches in pharmaceuticals and agrochemicals segments and higher capacity utilization of pyridine derivatives are key factors expected to lend impetus to market growth.
Analysis, by Product Type
Pyridine N-oxide segment has been estimated to account for the largest share of the global pyridine market in 2015 and is expected to expand at a CAGR of 8.3% over 2015–2025 in terms of value. Beta picoline is used to produce Vitamin B3. In terms of volume, beta picoline segment is projected to expand at a moderate CAGR over the forecast period. This is mainly attributed to rising demand for niacin in developing regions such as APAC and Middle East & Africa.
Some market players feature in this report include: