Trimethylolpropane Triacrylate Market

Trimethylolpropane Triacrylate Market - Size, Share,
Outlook, and Opportunity Analysis, 2018-2026
Trimethylolpropane triacylate, also known as TMPTA, is a colorless or pale yellow
transparent liquid, soluble in aromatic hydrocarbon organic solvents and low carbon
alcohol. It is used to manufacture inks, adhesives, and coatings. TMPTA can be
found in various products such as automobile headlamps, hardwood floors, compact
discs, and UV-curable lithographic inks among others.
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Increasing demand for trimethylolpropane triacrylate, owing to its advantageous
properties as fast curing agent with good chemical resistance and hardness is
expected to propel growth of the market. Furthermore, growing demand for
trimethylolpropane triacrylate in coatings and varnishes as it is cost effective, is also
fueling growth of the trimethylolpropane triacrylate market. According to Coherent
Market Insights (CMI), the global paints and coatings market was valued at US$
137.25 billion and 46,686.09 kilo tons in 2016, and is expected to exhibit a CAGR of
5.6% in terms of revenue during the forecast period (2018 – 2025).
However, exposure to trimethylolpropane triacrylate may cause irritation to eyes and
skin and the classification of trimethylolpropane triacrylate is regulated by European
Union under Regulation (EC) No. 1272/2008, is expected to hinder growth of the
trimethylolpropane triacrylate market.
Market Trends
Among applications, the paints and coatings segment is the fastest-growing
segment, owing to increasing government investments in corporate and commercial
infrastructure. For instance, in 2015, the Indian Ministry of Road Transport,
Highways and Shipping announced a target of US$ 376.53 billion investment in the
infrastructure sector by 2018. This in, turn creates a highly conducive environment
for growth of the global paints and coatings application segment, which in turn, is
driving growth of the trimethylolpropane triacrylate market, owing to its application in
UV/radiation curable coatings.
The plastic segment is expected to exhibit significant growth over the forecast
period. This is attributed to increasing demand for plastic in the automotive industry.
According to the Plastic Europe, 322 million tons of plastic was produced globally in
2015, which increased to 335 million tons in 2016.
Market Outlook
North America accounted for a significant share in the global trimethylolpropane
triacrylate market in terms of value in 2016 and is expected to retain its dominant
position over the forecast period. This is attributed to increasing demand for paints
and coatings, owing to technological advancements in the production of paints and
coatings in North America. For instance, PPG’s two electrocoat (e-coat)
technologies, ENVIRO-PRIME EPIC automotive electrocoat (e-coat) featuring a
patented organic catalyst and AEROCRON 2100 aerospace electrocoat primer.
Asia Pacific is expected to be the fastest-growing region in the global
trimethylolpropane triacrylate market over the forecast period, owing to increasing
plastic consumption in this region. Increasing income levels leading to increasing
consumption of plastic products. According to India Brand Equity Foundation (IBEF),
the per capita consumption of plastics in India accounted for around 4 kilograms per
year. China and the U.S. recorded an average per capita consumption of 17 kg and
120 kg, respectively.
The growing disposable income and consumer preferences for packaged goods,
growing retail industry especially in Asia Pacific and Latin America is projected to
significantly boost demand for plastic packaging, in turn, propelling growth of the
trimethylolpropane triacrylate market. According to the Coherent market Insights’
analysis, the global plastic packaging market size was valued at US$ 300.86 billion
(revenue) in 2016 and is expected to exhibit a CAGR of 5.3% in terms of revenue
during 2018 – 2025. Furthermore, according to Indian Brand Equity Foundation
(IBEF), the retail industry in India is the fastest growing market in the world owing to
growing economy. The retail industry in India is valued at US$ 672 billion in 2016
and is expected to reach US$ 1.3 trillion by 2020 and the online retail revenue is
estimated to grow to US$ 70 billion by 2020 from US$ 60 billion in 2017.
Market players
Some of the leading players operating in the global trimethylolpropane triacrylate
market are BASF S.E., J&K Scientific Ltd., Miwon Specialty Chemical Co., Ltd., and
KPX Green Chemical Co. Ltd.
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The research report Trimethylolpropane Triacrylate Market is segmented by Application - Size, Share, Outlook, and Opportunity Analysis, 2018-2026

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