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. Initially, pyridine was extracted from coal tar or obtained as a by-product of coal gasification. The process was very expensive and inefficient as coal tar constituted only 0.1–0.2% of pyridine after extraction. Currently, pyridine and its derivatives are produced synthetically. The most commonly used reactions for pyridine synthesis are Chichibabin synthesis, Bönnemann cyclization, and Cobalt-catalyzed alkyne-nitrile cyclotrimerization, etc.
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Drivers and Trends
Growing demand for pyridine and its derivatives arising from pharmaceuticals and agrochemicals applications due to multiple chemical functionalities is expected to drive the market during the forecast period. Pyridine was used only as a solvent in chemicals, adhesives, and pharmaceuticals, but pyridine derivatives are now increasingly being used as starting material in the manufacture of agrochemicals, pharmaceuticals, food-flavoring additives, etc. Pyridine derivatives are also used as a denaturant for antifreeze mixtures. Advancement in biocatalysts processes, increase in demand for synthetic pyridine, and increasing applications of pyridine in pesticides and herbicides are some other factors driving the growth of the global pyridine market. Extensive research is being conducted by companies to increase chemical functionalities of pyridine and its derivatives in order to increase its uptake in agrochemicals such as fungicides, insecticides/acaricides, and herbicides.
Persistence Market Research, in its report titled, “Global Market Study on Pyridine Market: Increasing Demand for Synthetic Pyridine to Drive Growth during Forecast Period 2015 -2025”, has categorized the global pyridine market into key segments based on product type, application, and region. On the basis of product type, the market is segmented into pyridine N-oxide, alpha picoline, beta picoline, gamma-picoline, and 2-Methyl-5-Ethylpyridine (MEP). On the basis of application, the global pyridine market is segmented into agrochemicals, pharmaceuticals, chemicals, food, and others. On the basis of region, the overall pyridine market is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
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Analysis, by Region
Asia Pacific is expected to expand at an accelerated CAGR of 8.7% in terms of volume in the global pyridine market during the forecast period. The region has been estimated to account for volume share of around 38.3% of the global pyridine market by 2015 end. In terms of market value, Europe is expected to account for a major share of the global pyridine market during the forecast period, followed by Asia Pacific and North America.
Analysis, by Application
Agrochemicals segment has been estimated to account for the largest share of the global pyridine market in 2015 and is expected to expand at a CAGR of 8.5% over 2015–2025 in terms of value. Denaturant sub-segment is expected to be the key contributor to the rapid growth of chemicals segment through 2025. The sub-segment is expected to exhibit above-average CAGR of 7.4% over the forecast period in terms of value. New product launches in pharmaceuticals and agrochemicals segments and higher capacity utilization of pyridine derivatives are key factors expected to lend impetus to market growth.
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Analysis, by Product Type
Pyridine N-oxide segment has been estimated to account for the largest share of the global pyridine market in 2015 and is expected to expand at a CAGR of 8.3% over 2015–2025 in terms of value. Beta picoline is used to produce Vitamin B3. In terms of volume, beta picoline segment is projected to expand at a moderate CAGR over the forecast period. This is mainly attributed to rising demand for niacin in developing regions such as APAC and Middle East & Africa.
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