Ineos AG, Formosa Plastic Corporation, Asahi Kasei Corporation, and Imperial Chemical Corporation, among others, are some of the major players in the Global Acetonitrile Market.
The global acetonitrile market is expected to grow at a CAGR of 5.1% in the forecast period 2022-2027. As per the analysis by Expert Market Research, the market is expected to be driven by the pharmaceuticals industry.
The pharmaceutical industry is continuously growing due to the rising healthcare sector and advancements in technology. Acetonitrile is used as a solvent in the manufacturing of insulin and antibiotics as well as in DNA synthesis. The product is also being increasingly used in the HPCL market. It has wide applications as a solvent in UV spectroscopy, polarography, and lithium batteries. It can be used to detect chemical residue in labs. Acetonitrile is used for extracting oleochemicals from animal and vegetable oils.
In January 2021, INEOS acquired the global aromatics and acetyls business of BP for USD 5 billion. The acquisition is expected to expand the geographic reach and portfolio of the business. In March 2021, INEOS announced selling its Norwegian oil and gas business to PGNiG for USD 615 million. In January 2021, Asahi Kasei Corporation opens its CoCo-CAFÉ digital laboratory for accelerating digital transformation through internal and external connections.
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|Headquarters:||London, United Kingdom|
INEOS AG is a British multinational chemicals company. They are a global manufacturer of speciality chemicals, petrochemicals as well as oil and gas. The company is organised into 20 standalone business units. INEOS AG has 36 businesses under them. Their main operations revolve around reducing carbon emission, making safe and sustainable products, and investing in energy transition while improving living standards. In 2021, INEOS AG has over 26,000 employees in 29 countries worldwide and generated a revenue of EUR 14.93 billion.
Asahi Kasei Corporation is a Japanese multinational chemical company. Its operations are carried out through the following segments: homes, materials, health care and others. The company started as an ammonia and cellulose fibre business and has continuously grown since then. Asahi Kasei Corporation has over 40,000 employees worldwide.
Formosa Plastics Corporation is a Taiwan-based plastics company. They were ranked sixth by the Chemical & Engineering News. They are Taiwan’s top petrochemical companies. Formosa is a producer of PVC, LDPE, HDPE, chlorine, caustic soda, hydrochloric acid, calcium carbonates, etc. With almost 3,000 employees, in 2021, they generated an annual revenue of TWD 273.6 billion.
Imperial Chemical Corporation is a manufacturer of fine chemicals in Taiwan. Its products are found in more than 30 countries around the globe. The company serves its customers with premium products, innovative solutions and high-quality integrity and service. Imperial Chemical Corporation provides various products for industries such as medical, metallurgical, mining, pharmaceutical, electroplating, cosmetics, polymers etc. The company is also dedicated to manufacturing and engineering innovations to develop and validate new processes for its customers.
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