The ‘Global Triacetin Market Price, Size, Share, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global triacetin market, assessing the market on the basis of its segments like grades, applications, end uses, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Triacetin Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 4%
The rising applications of triacetin in the pharmaceutical industry is driving the market. It is used to treat chronic diseases such as dermatophyte infections. It is also used in the manufacturing of tablets and capsules. The thriving pharmaceutical sector owing to the increasing prevalence of chronic diseases and rising geriatric population and, is fuelling the demand for triacetin.
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Humectants are a major application area of triacetin which is another driving factor of the triacetin market. Humectants are witnessing an escalated application in the cosmetics industry owing to the increasing sale of beauty and personal care products including shampoo, soap, and skincare creams, among others. Over the forecast period, rapid urbanisation is likely to lead the market growth in a positive direction.
Meanwhile, triacetin is also approved as a food additive by the United States’ Food and Drug Administration. Hence, the flourishing food and beverage industry, supported by the rising population, is further adding to the market growth.
In terms of regions, the Asia Pacific holds a significant share in the triacetin market. India is one of the largest consumers of tobacco products and has been witnessing an increasing demand due to rising disposable incomes. The thriving pharmaceutical sector across countries like China and South Korea due to large geriatric populations and cases of diseases associated with them is further boosting the market growth.
Triacetin Industry Definition and Major Segments
Triacetin, also referred as glyceryl triacetate, is defined as a chemical compound which is a triester of glycerol and acetic acid. It is a colourless oily liquid in appearance with a fatty smell. The taste of triacetin is mild. It is extensively used in the pharmaceutical industry to treat various infections, supporting the triacetin market.
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Based on grade, the market can be segmented into:
- Tobacco Grade
- Food Grade
- Industrial Grade
The market can be broadly categorised based on application into:
- Plasticiser
- Solvent
- Humectant
- Others
By end use, the market has been segmented into:
- Tobacco
- Food and Beverages
- Pharmaceuticals
- Cosmetics
- Textiles
- Metal and Mining
On the basis of region, the market can be categorised into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Triacetin Market Trends
The key trends in the global triacetin market include the growing research and development activities in the pharmaceutical industry which is generating the demand for the compound. The increasing prevalence of chronic diseases is further fuelling the demand for the product.
The growing expansion of the e-commerce industry is increasing the sale of triacetin-based perfumes and cosmetic products. These products are further witnessing a heightened demand among the working-class women. Rapid urbanisation and escalating innovations by the major personal care product manufacturers are likely to generate a high demand for triacetin in the forecast period.
The emerging food delivery platforms is likely to be a crucial trend in the market which is accelerating the demand for flavourings and food additives, thereby, propelling the triacetin market.
Meanwhile, the rising application of triacetin in textiles, owing to the growing population and increasing inclination towards new fashions and clothing, is likely to be a market bolstering trend which is fuelling the demand for triacetin. In addition, triacetin is crucial for manufacturing dyes and photographic films which are anticipated to witness a significant demand in the coming years.
Furthermore, the rapid industrialisation across the emerging economies is aiding the growth of various end use industries of the product which is another market driving trend.
Key Market Players
The major players in the triacetin market report are Eastman Chemical Company, Lanxess AG, Daicel Corporation, Jiangsu Ruijia Chemistry Co., Ltd., Mosselman S.A., and KLK OLEO, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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