Growing demand in agrochemical and pharmaceutical sectors driving Pyridine market growth
From GlobeNewswire: 2025-05-09 10:00:00
The Pyridine & Pyridine Derivatives Market was valued at USD 736.67 million in 2023 and is projected to reach USD 1139.72 million by 2032, with a CAGR of 4.97% from 2024-2032. High demand in the agrochemical and pharmaceutical sectors is driving growth, with increasing use in various industries and sustainable agriculture practices.
In the US, the market size for Pyridine & Pyridine Derivatives was USD 128.77 million in 2023, expected to reach USD 206.70 million by 2032, with a CAGR of 5.40%. The market is growing due to the use of pyridine in agrochemical formulations and pharmaceutical products, supported by the FDA.
Pyridine dominated the market in 2023 with a 41.01% share, used in chemical reactions for agrochemical synthesis and drug production. Agrochemicals led the market in 2023 with a 39% share, with pyridine derivatives essential in pesticide and herbicide preparation, contributing to crop yield improvement.
Asia Pacific led the market in 2023 with a 48% share, driven by manufacturing facilities and demand in agriculture and pharmaceuticals. North America is the fastest-growing region, fueled by pharmaceutical applications and agrochemical demand, with companies like Lonza Group expanding production.
The trend in the Pyridine & Pyridine Derivatives Market is driven by evolving consumer preferences, with a focus on eco-friendly derivatives for sustainable farming, wellness products, food preservation, and pharmaceutical raw materials. Increasing awareness of the benefits of pyridine products is boosting market growth globally.
Read more at GlobeNewswire: Pyridine & Pyridine Derivatives Market Set to Hit USD