Pyridine and its derivatives are mostly used in the pharmaceutical industry. For instance, beta picoline is used to manufacture vitamin B3 and vitamin B6. Vitamin B3 is used in pharmaceutical applications. It can cure skin diseases, improve digestive function, maintain cholesterol level, and reduce the risk of cardiovascular diseases. This increases the demand of pyridine and its derivatives. Pyridine and its derivatives are also used as agrochemicals, antioxidants, polymer, dyes, latexes, and in food industry.
Rising application in the pharmaceutical industry is the major driver for the market. Increase in chemical consumption in agrochemicals, urbanization, and increasing demand for vitamin B3 are the main drivers for the pyridine and pyridine derivatives market. The constantly changing prices and supply demand gap of pyridine and its derivatives are the challenges faced by the pyridine and pyridine derivative market. The ban on pyridine in 36 countries including China and government regulations on the usage of agrochemicals restrains the growth of pyridine and pyridine derivative market.
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Pyridine and Pyridine Derivative Market Taxonomy
Pyridine and pyridine derivative market can be segmented on the basis of type and application as follows:
On the basis of type;Pyridine,Beta Picoline,Alpha Picoline,Gamma Picoline,Others
On the basis of Application;Agrochemicals,Pharmaceuticals,Latexes,Food,Others
Alpha and Gamma pyridine are used in pharmaceutical, human nutrition, animal nutrition, agrochemical, and industrial sectors. Beta pyridine is used in herbicides and insecticides industries.
Insecticides and herbicides are used in agrochemicals sector. Pyridine is harmful if inhaled, however, its derivatives are used in the pharmaceutical industry. Plastic films, cardboard, and aluminum are used as pyridine and pyridine derivative materials. The largest end-use industry is pharmaceutical followed by electronics.
Pyridine and Pyridine Derivative Market Outlook
Asia Pacific is the largest and estimated to be the fastest growing market due to burgeoning growth in the pharmaceutical industry, which has been driven by urbanization in India. Increase in geriatric and infant population has led to an elevated demand for medicines. Moreover, cheaper healthcare facilities in countries such as Thailand and India has boosted medical tourism in the region
Europe is estimated to be the second largest market for pyridine due to high consumption rate of pharmaceutical products and latexes. Although the pharmaceutical industry in these regions is matured, with high prevalence of lifestyle diseases, the market is projected to grow further
North America is an emerging market for pyridine derivatives. The growth of pyridine and pyridine derivative market is due to the need for productivity of agriculture field, which requires non-toxic and noble products
The Middle East population has high disposable incomes, which drives consumerism. Consumption of electronics and consumer goods are growing rapidly, driving the pyridine and pyridine derivative market as well. Decline in markets of Syria and Iran have been compensated by high growth rate in the GCC countries
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Latin America plays a major role in boosting the global pyridine and pyridine derivative market growth. Brazil is the fourth largest pharmaceutical market in the world. Argentina, Mexico, and Brazil are also among the largest producers of non-patented generic drugs, which are exported to over 40 countries
Some of the major players in the pyridine and pyridine derivative market are Jubilant Life Sciences Ltd. (India), Vertellus Holdings LLC (U.S.), Lonza Group AG (Switzerland), Nanjing Redsun Co. Ltd. (China), Resonance Specialties Ltd. (India), Shandong Luba Chemical Co. Ltd. (China), Hubei Sanonda Co. Ltd. (China), Chang Chun Petrochemical Co. Ltd. (Taiwan), and Koei Chemical Co. Ltd. (Japan).