New York, NY -- (SBWire) -- 06/09/2016 --A new market study on the global market for pyridine has been recently published by Persistence Market Research (PMR). According to the report, the worldwide pyridine market is estimated to rise from a value of US$0.8 bn in 2015 to US$1.7 bn by the end of 2025.
The research report, titled "Global Market Study on Pyridine: Increasing Demand for Synthetic Pyridine to Drive Growth During Forecast Period 2015 -2025," states that the widespread application of pyridine in various industries is the key factor behind the significant rise of this market.
Initially, the only usage of pyridine was as a solvent in adhesives, chemicals, and pharmaceuticals. However, the increasing utilization of pyridine derivatives as a denaturant for antifreeze mixtures and as a starting material in the production of drugs, medicines, food flavoring additives, and agrochemicals is boosting the demand for pyridine across the world.
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The advancement in biocatalyst procedures, the increasing demand for synthetic pyridine, and the rising applications of pyridine in herbicides and pesticides are some other prominent factors behind the impressive growth of the global market for pyridine, states the research study.
In the market study, the global pyridine market has been analyzed on the basis of the type of pyridine, its application, and the regional distribution of this market.
Alpha picoline, beta picoline, gamma picoline, pyridine N-oxide, and 2-Methyl-5-Ethylpyridine (MEP) are the major types of pyridine available in the global market. The demand for pyridine N-oxide is the highest across the world. This segment is likely to rise at a CAGR of 8.30% over the forecast period. On the other hand, the demand for beta picoline is projected to register moderate growth in the coming years, states the research study.
The chemicals, pharmaceuticals, agrochemicals, food, alcohol, and dyestuffs industries are the main application areas of pyridine. The agrochemicals industry is registering the highest demand for pyridine in the global arena. This market segment is expected to post a CAGR of 8.50% during the forecast period. The report also anticipates the pharmaceuticals industry to record a steady rise in the demand for pyridine in the near future.
Regionally, the global market for pyridine is spread across Europe, Asia Pacific, Latin America, North America, and the Middle East and Africa. Asia Pacific has emerged as the most attractive market for pyridine across the world. In terms of volume, this regional market is projected to expand at a CAGR of 8.70% during the forecast period.
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In terms of value, Europe is estimated to acquire the biggest share in the global pyridine market over the forecast period, notes the market study.
Red Sun Group, Weifang Sunwin Chemicals Co. Ltd., Vertellus Specialties Inc., Jubliant Life Sciences Ltd., Koei Chemical Co. Ltd., Lonza Group Ltd., Resonance Specialities Ltd., and Shandong Luba Chemical Co. Ltd. are some of the major participants in the global pyridine market mentioned in this research report.
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Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Global Pyridine Market to Reach US$1.7 Bn by 2025, Increasing Application of Pyridine Derivatives to Drive Growth
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. I