The European acetonitrile market is projected to grow at a modest CAGR of 3.8% during the forecast period (2021-2027). The key aspect that drives the growth of the market includes the various properties possessed by the acetonitrile, low toxicity, polarity, and high boiling point than other solvents and its application in spinning fibers, casting and molding plastic products, manufacturing lithium batteries. The rapid deployment of Econitrile to reduce carbon footprints is further supporting the market growth.

Impact of COVID-19 

The COVID-19 pandemic has affected economies and industries in many countries and the chemical and materials industry is one of the most affected industries. Shutdowns of the chemical industry led to disruption in the supply chain and manufacturing of products. In Europe, Russia is the hardest-hit country due to a large number of registered COVID-19 cases in the country.  

The European acetonitrile market is segmented based on type, applications, and end-user. Based on the type, the market is fragmented as derivative and solvent. Based on applications, the market is segmented as organic synthesis, specialty chemicals, HPLC solvents, pharmaceutical, extraction, DNA and RNA synthesis, and others. Based on the end-user, the market is segmented as pharmaceutical industry, analytical industry, agricultural industry, and others. The pharmaceutical industry segment of the market is estimated to hold a lucrative share in the market.

Based on the demographic viewpoint, the European Acetonitrile market has been segmented into Germany, Spain, Italy, France, and the Rest of Europe. Germany is likely to hold a major share in the European acetonitrile market over the forecast period due to its high spending on the R & D for chemicals, and the presence of major players for the chemical providers. Spain and Italy hold a significant share in the European acetonitrile market, followed by France and Russia.

Further, INEOS, Connect Chemicals, Mitsubishi Chemical Corp., Asahi Kasei Corp., Imperial Chemical Corp., Merck KGaA among others are some of the prominent players functioning in the European acetonitrile market. New product launches & developments, partnerships, agreements, and acquisitions are some of the growth strategies adopted by the players to sustain in the highly competitive market. 

RESEARCH METHODOLOGY

The market study of the European acetonitrile market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to break down the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.

Secondary sources include:

• Financial reports of companies involved in the market
• Whitepapers, research papers, and news blogs
• Company websites and their product catalog

The report is intended for chemical provider companies, and its application such as manufacturing, retail, government and defense, and healthcare, among others, research institutes and universities, other related companies, and government organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.

Market Segmentation:

1. European Acetonitrile Market Research and Analysis by Type
2. European Acetonitrile Market Research and Analysis by Application
3. European Acetonitrile Market Research and Analysis by End-User

The Report covers:

• Comprehensive research methodology of the European acetonitrile market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the European acetonitrile market.
• Insights about market determinants that are stimulating the European acetonitrile market.
• Detailed and extensive market segments with regional distribution of forecast revenues.
• Extensive profiles and recent developments of the market players.