Published By : 11 Mar 2016 | Published By : QYRESEARCH
Chemically, Pyridine is the parent compound of various naturally occurring organic compounds and is an important reagent and solvent. The growing usage of pyridine in the pharmaceuticals and agrochemicals sectors has augmented the growth of the pyridine market across the globe. While pyridine has been used as a solvent in adhesives, chemicals, and pharmaceuticals, pyridine derivatives are being increasingly used in the manufacturing of agrochemicals, food-flavouring additives, and others. Pyridine derivatives act as denaturants for antifreeze mixtures as well. Rise in demand for synthetic pyridine, growing applications of pyridine in herbicides and pesticides, and advancement in biocatalysts processes are expected to augment the growth of the global pyridine market.
Rising Demand from China Further Boosted by Reduction of Anti Dumping Duty on Pyridine Imports
Asia Pacific is the most promising market for pyridine. Countries such as India where domestic production of pyridine is expected to rise by 40% are propelling the growth of the market in the region. Growing demand for pyridine across the agrochemicals, pharmaceuticals, and food industries will further augment the growth of this regional market.
The major players in the global pyridine market are partnering with local companies to strengthen their regional presence. Jubilant Life Sciences has announced that it will benefit from the Chinese government’s decision to lower anti dumping duty on the imports of pyridine. According to a statement released last month, the company has mentioned that the Chinese Ministry of Commerce has lowered the anti-dumping duty on its pyridine to 17.6% from the current 24.6%. The company had filed a review petition for the reduction in anti-dumping duty. The company added that it will continue to observe the market conditions in China to benefit from the reduced duty.