Pharmaceutical and food sector are the major drivers to the global triacetin market. The United States Food and Drug Administration (FDA) has permitted the use of triacetin in the food industry as food additive. Flavoring several food products is done as the product’s property is that it acts like a solvent. It also acts as an excipient in medicinal products, where it is used as a plasticizer and humectant. The product is known for its low volatility and high solvency power. It is used in the production of nail polish as well. Triacetin’s demand is sure to increase due to the rising use of nail polish in the beauty and cosmetic industry. Besides, it is also used in the processing methods of metals and metal extraction. For many copolymers and vinylidene polymers, nitrocellulose, ethyl cellulose and cellulose acetate, triacetin is being used as a plasticizer.
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In the Middle East and Latin America, market dynamics are fortunate and favorable for triacetin’s market growth. Europe and North America have numerous large scale food and pharmaceutical manufacturers. Demand for capsules and tablets has been significantly increasing around the globe since the last few decades. This is likely to drive the usage of the product in a positive way during the forecast period. These factors mentioned are expected to affect the universal triacetin market positively. Thus, the progressively developing economies of Europe and North America are also projected to deliver stimulus to the global triacetin market.
Some of the segments of the triacetin market are pharmaceutical, food additive, cosmetics, metal processing, plasticizer and others. These segments are classified on the bases of their application. One of triacetin’s main use is as a plasticizer in chewing gum. The product is known for offering superior suitability for the solidification process of cellulose fibers. It also offers a brilliant plasticizing effect for several plastics and paints which are cellulose based. In the cosmetic industry, nail polish contains the use of triacetin as plasticizing agent. The product is used in the manufacturing of Cellulose Acetate, which in turn, is used in the manufacturing of cigarette filters. Owing to the rise in the consumption of cigarettes in recent years, demand for triacetin is likely to increase as it is used in the making of cellulose acetate. Triacetin is also suitable for imparting plasticity and flow to laminating resins, particularly at low temperatures
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Asia Pacific is a probable growing area for triacetin market in the coming few years. Brazil, India and China are the developing countries with rising population, disposable income and purchasing power which will increase the use of Triacetin. To increase the triacetin industry share, producers and manufacturers focus on the developing economies rather than the developed ones. The manufacturing of triacetin is largely spread in the countries such as Germany, Japan, China and the United States.
At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the triacetin market. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data
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The triacetin market has turned out to be very competitive internationally. Some of the significant companies that are functioning in this market globally are mainly Eastman Chemical Company, Croda International Plc, Daicel Corporation, BASF SE, Lanxess, Jiangsu Lemon, Wuxi Kailai Biotechnology, Jiangsu Ruijia Chemistry, Yixing Kaixin Chemical, Jiangsu Licheng Chemica and others. Though there are large companies operating in the market of triacetin, their product offerings are different and vary from others. Some companies such as Daicel sell their products under fragrance and flavors applications while other companies such as BASE SE sell under brand name. There are numerous small players as well, operating in the triacetin industry of Asia Pacific.
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