According to a new report, published by KBV research, The Global Pyridine Market size is expected to reach $1.1 billion by 2031, rising at a market growth of 5.0% CAGR during the forecast period. In the year 2023, the market attained a volume of 248,852.8 tonnes, experiencing a growth of 20.9% (2020-2023).
The Pyridine N-Oxide segment is leading the Global Pyridine Market by Type in 2023; thereby, achieving a market value of $359.3 million by 2031. Pyridine N-oxide, with the chemical formula C5H5NO, is a versatile compound used in industrial and research settings. Due to its unique chemical properties, it serves as a valuable building block in the production of drugs and pharmaceutical intermediates. Pyridine N-oxide is also used in materials science, where it is employed in synthesising polymers and other advanced materials.
The Pharmaceuticals segment would witness a CAGR of 4.8% during (2024 - 2031). Pyridine is a key building block in synthesising pharmaceutical compounds, making it an essential component in the production of drugs and medications. The expansion of the pharmaceutical industry has been driven by several key factors, including population growth, ageing demographics, and the increasing prevalence of chronic diseases.
Full Report: https://www.kbvresearch.com/pyridine-market/
The Asia Pacific region dominated the Global Pyridine Market by Region in 2023; thereby, achieving a market value of $512.3 million by 2031. The North America region is expected to witness a CAGR of 4.7% during (2024 - 2031). Additionally, The Europe region would capture a CAGR of 4.5% during (2024 - 2031).
By Type (Volume, Tonnes, USD Billion, 2020-2031)
By Application (Volume, Tonnes, USD Billion, 2020-2031)
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