In 2022, the global Triacetin Triacetate Market had a size of USD 304.81 million, and it is projected to reach USD 452.98 million by 2032, demonstrating a consistent compound annual growth rate (CAGR) of 4.5% over the forecast period. Anticipated substantial revenue expansion in the Triacetin Triacetate market during this forecasted period can be attributed to several factors. These include rising demand from end-use industries, growing recognition of its advantageous characteristics, and the implementation of strict regulations that promote its usage. Triacetin Triacetate, also known as glyceryl triacetate, is a clear, odorless, and safe liquid substance with widespread applications across various sectors, including the food and beverage industry, pharmaceuticals, cosmetics, and the tobacco industry.
Top Lading Players:
- Eastman Chemical Company
- Daicel Corporation
- LANXESS AG
- Polynt Group
- WeylChem International GmbH
- Wacker Chemie AG
- KLK Oleo
- Jilin Beihua Fine Chemical Co., Ltd.
- Jungbunzlauer Suisse AG
- DaTong Chemical Industrial Co., Ltd.
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Further key findings from the report suggest:
- According to British American Tobacco, there are an estimated one billion adult smokers worldwide. Growing consumption of cigarettes across the globe is driving the growth of the tobacco industry
- In the pharmaceutical industry, triacetin is widely used as an antifungal agent and as a plasticizer for manufacturing capsules and capsule coatings. Drug development in the pharmaceutical industry and the benefits of medical, chemical, and biological research has propelled the growth of the pharmaceutical industry across the globe
- Triacetin market is fastest growing at a CAGR of 0% in Asia Pacific due the growing number of population and increased demand for triacetin for use in various end-use industries. Continuous R&D activities and increasing investments in the pharmaceutical and cosmetic sectors by various governments and leading market players for the development of new products are also driving the growth of the triacetin market in the Asia Pacific region
- Emulsifier is the second leading Product segment because triacetin is used as a flavour enhancer to enhance flavours as an emulsifier to promote emulsification, and is used in various food applications, including baked foods, dairy products, and others. It is widely used for its texturing, moisturizing, emulsifying, and stabilizing properties
- Tobacco industry segment has the highest CAGR of 4.8% and is the largest segment with a market size of 58.6% because major product of the tobacco industry is cigarettes, and triacetin is used as a plasticizer in cellulose acetate filters or cigarette filter rods. For example, China is the leading producer of tobacco, producing more than 3 million tons of tobacco leaf annually. According to a study, the market size of the tobacco industry is around USD 800 billion. This industry plays a vital role in the economies of many countries
- Europe is the second largest region with a share of 27.9% owing to new products being developed by food & beverages and pharmaceutical industries, which in turn fuels the growth of the Triacetin/Triacetin Triacetate market in this region
- Food grade segment is second largest segment value at USD 56.8 million due to food grade triacetin is used in various applications in the food & beverage industry, such as in baked foods, dairy products, confectionaries, and others in bubble gums or chewing gums. It is also used as a food additive in hard candy
- North America is growing at a CAGR of 4.2% in the global Triacetin/Triacetin Triacetate market million owing to increasing need of capsules and tablets which is likely to drive the growth of the market
Segments covered in the report:
Segments covered:
By Product Type Outlook, End-Use Outlook, Regional Outlook
By Product Type Outlook:
- Industrial Grade
- Food Grade
- Pharmaceutical Grade
By End-Use Outlook
- Plasticizers
- Flavors & Fragrances
- Pharmaceuticals
- Tobacco
- Others
Regional scope:
North America; Europe; Asia Pacific; Latin America; Middle East & Africa
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