Product Code: 69219
The Global Pyridine Derivatives Market is projected to register a CAGR of over 5% during the forecast period (2021-2026).
The market was negatively impacted by COVID-19 in 2020. Pyridine derivatives are used in the dyeing application of the textile industry. Owing to the pandemic scenario, the textile mills, and apparel factories were temporarily closed during the lockdown. In Q3 2020, clothing production in European Union (EU-27) has decreased by 15% compared to Q3 2019. Also, in Q3 2020, textile production has decreased by 6.9% compared to Q3 2019, which in turn negatively impacts the demand for the market studied. However, the demand for pharmaceutical drugs based on pyridine derivatives such as nicotine, nicotinamide, vitamin B6, and others has significantly increased during this period, which in turn stimulates the market demand for pyridine derivatives.
- Over the short term, the increasing demand for beta picoline in industries such as agrochemicals, pharmaceuticals, electronics, etc. is expected to drive the market's growth.
- The adverse impact of the COVID-19 outbreak is expected to restrain the market's growth.
- Beta type of Picoline is expected to dominate the pyridine derivatives market accross the globe during the forecast timeline.
- Asia-Pacific region is anticipated to be the largest market for the pyridine derivatives because of the significant share of the region in agrochemicals and pharmaceuticals market where these products are used extensively.
Key Market Trends
Increasing Demand for Beta Picoline
- Beta Picoline, additionally called 3-Picoline or 3-Methylpyridine is a clear organic fluid. It is totally soluble in water, alcohol, and ether. The biggest use of beta picoline is in the production of vitamin B3 (Niacinamide). This vitamin is used for various pharmaceutical applications like to lower the risk of high cholesterol, to promote digestive functions, in the treatment of skin diseases, etc.
- Moreover, Beta Picoline is also a significant intermediate for agrochemicals like Chlorpyrifos, Haloxyfop, Fluazifop Butyl and also for pharmaceutical intermediates.
- The market value of the global agrochemicals business is estimated to be USD 243.1 billion in 2019 and is expected to increase to nearly USD 300 billion by 2024.
- In 2019, total global spending on research and development of pharmaceuticals is estimated to be USD 182 billion and is forecasted to reach a value of USD 213 billion by 2024 which is expected to increase the demand for pyridine derivatives in the market.
- According to India Brand Equity Foundation (IBEF), Indian pharmaceutical sector is expected to reach USD 100 billion by 2025. Furthermore, as of November 2020, India's pharmaceutical exports was valued at about USD 15.86 billion in FY21 and USD 16.28 billion in FY20.
- Therefore, the aforementioned factors are expected to show significant impact on the market in the coming years.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is projected to have a prominent share in the pyridine derivatives market globally and is also expected to dominate the market during the period of forecast.
- The application of alpha picoline is widely in the rubber industry. China has a production capacity of around 27% of the global synthetic rubber.
- Besides, in 2019, the total sales volume of chemical pesticides in China amounted to over 2 million tons.
- India is among the world's biggest suppliers of conventional medication and as of FY 2019 all-out estimation of Indian pharmaceutical fares is USD 19.1 billion.
- Moreover, India exported about 461 thousand metric tons of agrochemicals to other countries in 2019, an increase from 410 thousand metric tons compared with the previous year.
- Pyridine derivatives are used in textile dyeing purposes. According to the India Brand Equity Foundation (IBEF), India's domestic textiles and apparel market estimated at USD 100 billion in FY19. The Indian textiles and apparel industry contributed 2% to the GDP, 12% to export earnings and held 5% of the global trade in textiles and apparel in FY19.
- In 2019, the sales value of textile wholesale was valued at about USD 27 billion in Japan, with a decline rate of about 4% compared to the previous year, which in turn negatively impacts the demand for the studied market.
- Overall, the aforementioned factors are expected to show significant impact on the market in the coming years.
The pyridine derivatives market is consolidated in nature. Some of the players in the market include Vertellus, Lonza, Jubilant Life Sciences Limited, Shandong Luba Chemical Co., Ltd, and Resonance Specialties Limited, among others.
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TABLE OF CONTENTS
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Increasing Demand for Beta Picoline in various applications
- 4.1.2 Other drivers
- 4.2 Restraints
- 4.2.1 Adverse Impact on Market due to COVID-19 Pandemic
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
- 4.4 Porters Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
5 MARKET SEGMENTATION
- 5.1 Type
- 5.1.1 Beta Picoline
- 5.1.2 Alpha Picoline
- 5.1.3 Gamma Picoline
- 5.1.4 Other Types
- 5.2 End-user Industry
- 5.2.1 Agrochemicals
- 5.2.2 Pharmaceuticals
- 5.2.3 Electronics
- 5.2.4 Textiles
- 5.2.5 Other End-user Industries
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 184.108.40.206 China
- 220.127.116.11 India
- 18.104.22.168 Japan
- 22.214.171.124 South Korea
- 126.96.36.199 Rest of Asia-Pacific
- 5.3.2 North America
- 188.8.131.52 United States
- 184.108.40.206 Canada
- 220.127.116.11 Mexico
- 5.3.3 Europe
- 18.104.22.168 Germany
- 22.214.171.124 United Kingdom
- 126.96.36.199 France
- 188.8.131.52 Italy
- 184.108.40.206 Rest of Europe
- 5.3.4 South America
- 220.127.116.11 Brazil
- 18.104.22.168 Argentina
- 22.214.171.124 Rest of South America
- 5.3.5 Middle-East and Africa
- 126.96.36.199 Saudi Arabia
- 188.8.131.52 South Africa
- 184.108.40.206 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**/ Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 Alfa Aesar
- 6.4.2 Jubilant Life Sciences Limited
- 6.4.3 KOEI Chemical Co. Ltd
- 6.4.4 Lonza
- 6.4.5 Merck KGaA
- 6.4.6 National Analytical Corporation
- 6.4.7 Resonance Specialties Limited
- 6.4.8 Shandong Luba Chemical Co. Ltd
- 6.4.9 Vertellus
7 MARKET OPPORTUNITIES AND FUTURE TRENDS