Pyridine Market

The growth of the Pyridine Market will be highly influenced by increasing demand from agriculture, food & beverage, pharmaceuticals and others. Pyridine is a heterocyclic organic compound and is structurally related to benzene, with one methine group. The surging demand for this natural compound in pest control applicability and the farming sector is boosting its growth scope. For instance, according to the India Brand Equity Foundation (IBEF), the agriculture sector in India is expected to increase to US$24 billion by 2025. With the rising emphasis on farming and agricultural production across the world, majorly in APAC, the Pyridine industry is observed to achieve robust growth. The Pyridine market size is estimated to reach US$948 million by 2027, after growing at a CAGR of 6.2% during the forecast period 2022-2027.

Pyridine Market: Leading Segment is Agriculture

Based on the end-use industry, the Pyridine market can be segmented into Medical & Pharmaceutical, Agriculture, Building & Construction, Chemical, Food & Beverage and Others. The leading segment in the pyridine industry has been evaluated to be rubber (reinforcement). During the forecast period 2022-2027, the rubber segment is projected to grow with a CAGR of 6.5%. This can be attributed to growth factors such as rising production for grains, cereals and others and demand for fertilizer and pesticides.

For instance, according to the Office for National Statistics, the volume of agricultural output increased by 2.6% in the United Kingdom with cereals output increased by 23% and 24% for the crop products in 2021. Thus, the Pyridine industry will grow significantly as a result of emerging agricultural output, production and farming innovations over the forecast period.

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Pyridine Market: Leading Region is the Asia-Pacific

Based on geography, the Pyridine market can be segmented into North America, South America, Europe, APAC and ROW. According to IndustryARC's analysis, Asia-Pacific has emerged as the most profitable region. In 2021, the Asia-Pacific region held a 42.7% share of the total revenues earned by the market globally. The Asia-Pacific region is estimated to grow rapidly due to the established base for the agriculture sector and rising growth scope for food & beverage and medical infrastructure. The agriculture sector is lucratively growing in Asia-Pacific countries, including China, India and others due to rising organic farming trends and surging production of herbicides, fertilizers and pesticides.  

For instance, according to the National Investment Promotion & Facilitation Agency, total food grain production in India recorded an increase of 11.15 million tonnes in 2020-2021 compared to the previous year. With robust growth scope for agricultural produce and farming technologies, the demand for this organic compound in the agriculture industry is growing across APAC countries; thereby the pyridine industry will emerge significantly over the forecast period.

Pyridine Market: Competitive Landscape

Key companies holding major shares in the Pyridine market are Bayer AG, LOBA Feinchemie AG, Jubilant Life Sciences Ltd, Resonance Specialities Limited, Merck KgaA, The Dow Chemical Company, Red Sun Co. Ltd, Koei Chemical Company, Nippon Steel & Sumikin Chemical Co. Ltd and Labex Corporation.