Triacetin Market Analysis :
Triacetin, also known as glycerin triacetate, is a chemical compound with the chemical formula C9H14O6. Triacetin is produced by chemical reactions of glycerol, acetic anhydride, and acetic acid. Raw materials required for triacetin include dehydrolyzing agent, glycerol, ethyl acetate, and acetic acid glacial. It is an odorless, colorless viscous liquid that has properties such as compatibility with natural & synthetic rubber and resistance to light. It can be used in food additives, fuel additives, and in the healthcare sector for manufacturing of capsules and tablets. It is known for high solvency and low volatility. Its demand is rising due its usage in manufacturing of nail polish. End-user industries where triacetin is utilized include tobacco, food, pharmaceutical, and others Triacetin has been approved as a safest food additive by the Food and Drug Administration.
COVID-19 scenario analysis:
- The triacetin market has been suffering through slowdown due to lockdown across the globe due to the coronavirus outbreak.
- COVID-19 pandemic has caused much interruption in supply chains, leading to slowdown in supply of triacetin.
- The chemical compound industry has been hit hard due to coronavirus outbreak; prices are falling due to decline in demand.
- The triacetin industry is facing problems such as shortage in raw material. Companies are in a situation where they are left with no choice but to produce raw material by themselves.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Pharmaceutical and food sector are the major industries boosting the growth of the market. The U.S. food and Drug management (FDA) has accredited the use of triacetin within the meals industry as food additive. Flavoring numerous food products is done with the help of triacetin because the product’s property is that it acts like a solvent. It also acts as an excipient in medicinal industries, wherein it is used as a plasticizer and humectant. The product is known for its low volatility and excessive solvency power. It's also used in the production of nail polish. Triacetin’s market call for growth due to the rising use of nail polish within the beauty and cosmetic industry. The market is expected to be affected by volatility in raw material prices like Ethyl Acetate, Glycerol, Amyl Acetate, Acetic Acid Glacial and Dehydrolyzing Agent. However, growing innovation and development in the triacetin industry is expected to offer growth to the market.
Regional outlook
Region-wise the market is analyzed across North America (the U.S. and Canada), Europe (Germany, the UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM), and the Middle East & Africa. Favorable growth is witnessed by the Middle East & Africa, Europe, and Latin America due to the presence of a large number of pharmaceutical and food manufacturing industries. Asia-Pacific is expected to witness increase in product demand in coming years due to increase in population in and purchasing power in this region.
Key benefits of the report:
- This study presents the analytical depiction of the global triacetin market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global triacetin market share.
- The current market is quantitatively analyzed to highlight the global triacetin market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the triacetin market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Triacetin Market, by Type Report Highlights
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 Key Market Players | Daicel Corporation, Rubexco Chemicals Imports, Anhui Hongyang Chemical Co.Ltd., Daicel Corporation Polynt Composites, Multichem Specialties Pvt. Ltd., Polynt Group, Sisco Research Laboratories Pvt. Ltd., Henkel AG & Co., Zhonglan Industry Co. Ltd., BASF SE, LANXESS AG, Eastman Chemical Company |
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