Global Pyridine Market Size To Grow At A CAGR Of 4.5% In The Forecast Period Of 2023-2028

SHERIDAN, WYOMING, UNITED STATES, June 23, 2023/EINPresswire.com/ -- The ‘Global Pyridine Market Price, Share, Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global pyridine market, assessing the market on the basis of its segments like product types, applications, end uses, and major regions.

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.

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The key highlights of the report include:

Market Overview (2018-2028)

Forecast CAGR (2023-2028): 4.5%

Pyridine is used in medicines as anticancer, antidiabetic, and antimalarial agents, among others. Hence, the thriving pharmaceutical industry, along with the growing prevalence of chronic diseases such as diabetes mellitus and blood cancer, is driving the demand for pyridine. Meanwhile, pyridine is also utilised in the dental care industry as an antiseptic. In this regard, the growing dental care awareness among the active adults is leading to a heightened demand for pyridine market.

In the manufacturing of paints and dyes, pyridine is a crucial component. Hence, this factor is leading to a heightening application of the product across the construction and textile industries. In addition, the increasing demand for rubber across the industrial sector and various infrastructure development projects is further propelling the requirement of pyridine.

Over the forecast period, there is an anticipated increase in demand for pyridine in the agriculture sector to control weeds. Therefore, the flourishing agriculture sector across the emerging economies, supported by a growing population, is providing impetus to the pyridine market.

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At a regional level, the Asia Pacific leads with a sizable share of the market owing to the growing expansion of the major end use industries across developing countries like India and China. Favourable regulations of the government, rising disposable income, and availability of cheap labour in the region are some of the invigorating factors of the market.

Pyridine Industry Definition and Major Segments

Pyridine is defined as an organic compound which is highly flammable and soluble in water. It is a stable compound with an unpleasant odour. The versatility of pyridine makes it useful for a variety of industries including chemical and pharmaceutical. The molecular weight of this compound is 79.1 g/mol and boiling point is 115°C.

Based on product type, the pyridine market can be segmented into:

Pyridine N-Oxide
Alpha Picoline
Beta Picoline
Gamma Picoline
2-Methyl-5-Ethylpyridine (MEP)
Others

The market can be broadly categorised based on application into:

Medicines
Rubber
Paints and Dyes
Pesticides
Solvent
Food Flavouring
Others

By end use, the market has been segmented into:

Pharmaceuticals
Agrochemicals
Food
Chemicals
Others

On the basis of region, the market can be categorised into:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Pyridine Market Trends

Pyridine is utilised as a raw material in the chemical industry. In this regard, the growing research and development activities across the chemical industry to cater to the needs of organic chemicals across industrial plants are the key trends in the pyridine market. Meanwhile, the rising healthcare expenditure across the emerging economies is leading to an increasing penetration of pyridine in dental and pharmaceutical practices which is in turn bolstering the market growth.

The robust growth of the e-commerce industry, coupled with the rapid development of supermarkets/hypermarkets and convenience stores, is another crucial trend in pyridine market. Both e-commerce and food outlets are propelling the sale of downstream food products of pyridine which are bolstering the demand for this compound. It is a successful food flavouring agent which is further boosting the value of the product through research and development activities by major food companies to provide innovative food flavourings to consumers.

Moreover, the rapid development of industrial, manufacturing, healthcare, and public administrative units and structures is generating high demand for paints and rubbers, which are major downstream products of pyridine. Heightening demand for rubber across industries such as automotive, aerospace, and defence is likely to be a major market boosting trend in the coming years.

Key Market Players

The major players in the silicon tetrachloride market report are:

Vertellus Holdings LLC
Lonza Group Ltd.
Novasyn Organics Pvt. Ltd.
Koei Chemical Co., Ltd.
ProChem, Inc.
Shangdong Luba Chemical Co. Ltd
Resonance Specialties Limited
Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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