Pyridine & Pyridine Derivatives Market worth $940 million by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, June 7, 2022 /PRNewswire/ -- According to the recent study on "Pyridine & Pyridine Derivatives Market by Type (Epoxy, Acrylic, Silicone), End-Use Industry (Oil & Gas, and Petrochemical; Marine; Energy & Power) & Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2027", published by MarketsandMarkets™, the global Pyridine & pyridine derivatives market size is projected to grow from USD 701 million in 2022 to USD 940 million by 2027, at a CAGR of 6.1%. The major trend impacting the dynamics of the industry are increasing demand for agrochemicals in Asia-Pacific. Also, an increase in the demand for vitamin B3 in emerging and highly populated countries of Asia-Pacific such as India and China will drive the market.

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Pyridine to lead the market during the forecast period.

The pyridine segment is estimated to lead the market during the forecast period. Pyridine can be produced through two methods, the natural method and through the synthesis of chemicals. It is majorly used in the pharmaceutical and agrochemical industry. Half of the pyridine is used to manufacture insecticides and herbicides. It is also used as a solvent in paint and rubber production.

The Pyridine & pyridine derivatives market in the pharmaceutical industry to hold the largest proportion during the forecast period.

Based on the end-use industry, the pharmaceutical industry is estimated to account for the largest share during the forecast period. Pyridine and its derivatives are used for drug manufacturing to cure various diseases. 

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Asia Pacific Pyridine & pyridine derivatives market is estimated to register the highest CAGR during the forecast period.

APAC is the fastest-growing Pyridine & pyridine derivatives market globally. This is mainly due to economic growth, followed by large investments across all industries such as agrochemical, and pharmaceutical industries. The Asia Pacific is the most promising market and is expected to be the same during the forecast period.

Major players operating in the Pyridine & pyridine derivatives market include Jubilant Ingrevia (India), Vertellus Holdings LLC (US), Lonza Group AG (Switzerland), Nanjing Redsun Co. Ltd. (China), Resonance Specialties Ltd. (India), Shandong Luba Chemical Co. Ltd. (China), Hubei Sanonda Co. Ltd. (China), Chang Chun Petrochemical Co. Ltd. (Taiwan), Koei Chemical Co. Ltd. (Japan), and C-Chem Co., Ltd. (Japan) among others.

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