Asia-Pacific was the largest region in the olefin derivatives market in 2017, accounting for 38.8% share in the market. This was due to growth in olefin derivatives production through a combination of steam cracker plants development and coal-based olefins production in China, India and Southeast Asian nations. Availability of raw materials such as olefins for production has supported the olefin derivatives consumption. North America was the second largest region in the olefin derivatives market in 2017, accounting for 21.3% share in the market. This was because of the rise in production of olefin derivatives in the US to cater to increase in demand from European and South American regions. Availability of raw materials such as olefins for production has supported the olefin derivatives consumption. Middle East was the smallest region in the olefin derivatives market in 2017, accounting for $3.2 billion or 4.0% share in the market.
Growing Use Of Acetonitrile In Pharmaceutical Products
The use of acetonitrile in pharmaceutical products is increasing rapidly. This is primarily driven by the introduction of advanced pharmaceutical products and improved standards of living in industrialized countries. Acetonitrile is used as a basic raw material for synthesizing vitamins A and B1, sulfa pyrimidine, cortisone, carbonate drugs, and some amino acids. Additionally, it is also used as an important solvent in the pharmaceutical industry, with applications as a reagent, reaction solvent and extraction solvent. For instance, acetonitrile is used as an extraction solvent in the production of insulin and antibiotics (third-generation cephalosporins). Although acetonitrile supply is currently limited due to restricted production during the second half of 2017 in China and the US, it is expected to gain momentum as new production capacities are planned in India and China.
Olefin derivatives are chemicals that are produced by further processing basic olefins. The olefins derivatives market does not include poly-olefins. Olefin derivatives are manufactured by employing various industrial chemical processing methods such as chlorination, oxidation, and ammoxidation of olefins. Olefin derivatives are some key industrial chemicals and also act as raw materials for producing other chemical products. Olefin derivatives market includes acrylonitrile, ethylene oxide, propylene glycol, butanol, etc.
Companies Covered: Mitsubishi Chemical Corporation, China National Petroleum Corporation, Repsol S.A., Ineos Holdings Luxembourg S.A., China Petroleum & Chemical Corporation (Sinopec)
Market Segments Included: Vinyls, Ethylene Oxide And Ethylene Glycol, Oxo Alcohols, Propylene Oxide, Acrylonitrile
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