Trimethylolpropane Market: Global Industry Analysis (2013 - 2017) & Opportunity Assessment (2018 - 2028)
Trimethylolpropane is an organic compound that contains three hydroxyl group. It is widely used as a building block by the polymer industry. Trimethylolpropane is white in colour and solid at room temperature. It melts into a colourless liquid at 59oC and is soluble in water as well as organic solvents such as alcohols. However, it is not soluble in benzene. It is highly stable against light and other environmental influences. The structure of trimethylolpropane makes it well-balanced and flexible for use in products. Trimethylolpropane is highly stable against oxidation, hydrolysis and pyrolysis. It can improve the strength of a product and make it corrosion resistant. It is a widely used raw material for the production of alkyd resins, polyurethane coatings and for other high-end coatings. Trimethylolpropane can also be used in the manufacturing of various plasticizers, lubricants, heat insulators, surfactants, etc. It is also used in the production of paints, pigments and dyestuff. Trimethylolpropane is used in the electrical industry as it offers insulation. It is also used for making glues and adhesives. Trimethylolpropane is a key raw material in the production of Trimethylolpropane Methacrylate (TMPTM) and Trimethylolpropane Triacrylate (TMPTA). Due to its wide range of applications in various industries, its demand in the market is gaining traction. Increase in the demand for trimethylolpropane has led to a rise in its production.
Trimethylolpropane Market: Dynamics
The plastic and polymer industry is growing all over the world. As trimethylolpropane is a building block for plastic and polymer, its demand is also increasing. As there is rise in the demand for TMPTM and TMPTA, there is growth in the production of trimethylolpropane. Rise in population and urbanization is leading to the growth of the construction industry and the development of infrastructure, which is contributing to the growth of the paints & coating industry. This is also boosting the demand for trimethylolpropane. Moreover, the growth of the textile, cosmetic and printing industries is also boosting the trimethylolpropane market.
The growth of the petroleum and lubricants market is propelling the trimethylolpropane market as it is used as a fuel additive as well as for the production of lubricants. The growth of the automotive industry is also leading to an increase in the demand for coatings, which is, in turn, boosting the market for trimethylolpropane. In addition, as trimethylolpropane is used for producing insulating wires and cables, its demand is increasing owing to the growth of the electrical industry. Its high stability and flexibility along with its non-corrosive nature has boosted its value in the global market.
However, as it is flammable, it requires proper handling and storage. Its storage facility needs proper ventilation and safety measures. These can act as restraining factors for the market.
Trimethylolpropane Market: Segmentation
The global trimethylolpropane market can be segmented on the basis of its application in various industries, which include the following:
The global trimethylolpropane market can be segmented on the basis of its applications as follows:
Global trimethylolpropane market can also be segmented on the basis of its usage as a raw material in the production of the following:
Trimethylolpropane Market: Regional outlook
The plastic and polymer industry in China & India as well as other Asia Pacific countries is growing. The growth of these industries in North America, Latin America, Europe, Middle East and African countries has also been steady. Hence, there is huge demand for trimethylolpropane in these regions because it is a building block for polymer and a key component in plasticizer production. As it is a useful component in the paints and coating industry, its demand will be increase in proportion with the growth of the construction industry and infrastructure development. As population and urbanization is increasing in countries such as China & India, the construction industry in China, India and other Asia Pacific countries along with countries in Latin America is also expected to grow. Regions such as North America, Europe and the Middle East are mainly focused on the development of infrastructure. Therefore, these regions are potential markets for trimethylolpropane.
Trimethylolpropane Market: Market Participants
Some of the global participants in market are:
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