Segmented By Type (Pyridine, Beta Picoline, Alpha Picoline, Gamma Picoline and Others), Application (Agrochemicals, Pharmaceuticals, Latexes, Food and Others), By Region, and Competition.
New York, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pyridine & Pyridine Derivatives Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" - https://www.reportlinker.com/p06379495/?utm_source=GNW
Global Pyridine & Pyridine Derivatives Market is projected to grow at an impressive CAGR during the forecast period.The growth is attributed to increasing demand due to end-use industries such as agrochemical, pharmaceutical, latexes, food, electronics, and others.
It is forecasted that the U.S. agrochemical market will have a revenue of approximately USD 49 billion by 2025.
Across APAC Region, the Healthy growth of the pharmaceutical industry is driving the market.Growing Investment in India and other ASEAN countries contributes to the market’s development.
As per the data released by India Brand Equity Foundation, In June 2021, the Government of India announced an additional outlay of around USD 27 billion, which will be utilized for the Pharmaceutical PLI scheme in 13 key sectors such as pharmaceuticals ingredients, drug intermediaries and critical starting materials. Economic factors are significantly uplifting the market growth and increasing penetration of health insurance to push expenditure on healthcare and medicine in major countries across the globe.
An Increase in the Acceptance of Agrochemicals in the Developing Countries
The globalization of the agrochemical sector significantly impacted Asian Crop Protection markets.The need for various agrochemicals, such as herbicides and pesticides, is growing due to the population’s fastest rate of increase, the necessity for food production to meet rising demand, and economic expansion.
The available land mass for agrochemicals to preserve soil health and boost land productivity is growing as the demand for food products increases in rising nations of the Asia Pacific region. The market for pyridines and their derivatives is anticipated to be driven by the rising use of agrochemicals.
Increasing Paraquat Usage in Countries such as U.S., Brazil, and India
Despite being banned in several European and Chinese nations, paraquat is utilized in many other countries.Due to farmers’ reliance on genetically modified, Roundup-ready soyabean crops, it is widely used in the United States.
Since weeds are developing resistance to Roundup herbicides, farmers must use stronger and more efficient pesticides, including paraquat. This is fueling the growth of the Pyridine and Pyridine Derivatives Market over the forecast period as paraquat demand rises in the U.S.
Recent Trends and Developments
• Jubilant Ingrevia has purchased a 26.60% stake in AMP Energy Green Fifteen in February 2021. The company has increased its presence in several regions thanks to the acquisition.
• In December 2021, Vertellus has acquired Jarchem who is a global manufacturer and provider of Unique specialty ingredients and nature-based products to expand its product portfolio across multiple geographies.
Global Pyridine & Pyridine Derivatives Market is segmented based on Type, Application, and regional distribution.Based on Type, the market is segmented into Pyridine, Beta Picoline, Alpha Picoline, Gamma Picoline and Others.
By Application, the market is further segmented into Agrochemicals, Pharmaceuticals, Latexes, Food and Others. The market analysis also studies the regional segmentation divided among North American region, European region, Asia-Pacific region, South American region, and Middle East & African region.
Jubilant Ingrevia Limited, Vertellus holdings LLC, Parker Hannifin Corporation, Lonza Group Ltd., Nanjing Red Sun Company, Resonance Specialties Limited, Shandong Luba Chemical Co., Ltd., Hubei Sanonda Co., Ltd., Chang Chun Petrochemical Co., Ltd., and Koei Chemical Co., Ltd.are some of the major market players in Global Pyridine & Pyridine Derivatives Market.
In this report, Global Pyridine & Pyridine Derivatives Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• Pyridine & Pyridine Derivatives, By Type:
o Beta Picoline
o Alpha Picoline
o Gamma Picoline
• Pyridine & Pyridine Derivatives, By Application:
• Pyridine & Pyridine Derivatives, By Region:
o North America
o South America
o Middle East and Africa
Company Profiles: Detailed analysis of the major companies present in Global Pyridine & Pyridine Derivatives Market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06379495/?utm_source=GNW
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