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% during the forecast period. The growing demand for pyridine & pyridine derivatives is from end-use industries, such as Agrochemicals, pharmaceuticals, latex, food, electronics, and other industries, which drives the market. Also, the increasing usage of paraquat in countries including the US, Mexico, and India is expected to rise in demand for the pyridine & derivatives market.
The pyridine & its derivatives market in the Asia Pacific is estimated to witness a high CAGR, in terms of value, between 2022 and 2027, owing to an increase in the demand for beta picoline consumption. The rapid growth of the pharmaceutical industry & agrochemical industries in the region makes the Asia Pacific an alluring market for the manufacturers of pyridine & pyridine derivatives.
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There are various players operating in the pyridine & pyridine derivatives market. The major market players 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. Various strategies, such as new product launch, expansion, and product development are adopted by several players to gain a competitive edge to increase their global presence and maintain sustained growth in the pyridine & pyridine derivatives market.
In the pyridine & pyridine derivatives market, the Asia Pacific-based key players hold a significant share of the market. For instance, Jubilant Ingrevia (India), Nanjing Redsun Co. Ltd. (China), Resonance Specialties Ltd. (India), and Shandong Luba Chemical Co. Ltd. (China), are a few players that hold a significant share of the market.
Jubilant Ingrevia Ltd. is a manufacturer of chemical products. It has a strong product portfolio and offers products through the following segments: Specialty Chemicals Segment, Nutrition & Health Solutions Segment, and Life Science Chemicals Segment. The company offers products pyridine under the specialty chemical segment.
Vertellus has the largest share in the Pyridine & pyridine derivatives market. The company is engaged in the manufacturing and distribution of specialty chemicals for agriculture, nutrition, pharmaceutical, medical, personal care, plastics, coatings, and many industrial markets. It is one of the largest global manufacturers of pyridine and picolines. It has a presence in more than 15 locations across the globe. The company has operating facilities located in North America, South America, Asia, Europe, and other regions of the globe. The company is focusing on expanding its business by investing as much as USD 25 million to increase the production of B3 vitamins at its venture in Nantong, China. The also has an expansion plan to boost the capacity for the intermediates by 7,000 metric tons per year and then build a new facility for niacinamide and niacin.
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
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