Global Triacetin Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Triacetin Market Analysis  Overview :

“The global Triacetin Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global triacetin market report has been segmented on the basis of raw material, application, end-use industry, and region.

Triacetin also known as Glyceryl triacetate or Glycerol triacetate and is a triglyceride that is used as an antifungal agent. It is used as a flavoring agent, fuel additive, humectant, solvent, plasticizer, and pharmaceutical excipient in the manufacturing of capsules and tablets.

Triacetin is the triester of glycerol and acetylating agents, such as acetic acid and acetic anhydride, and is viscous, colorless, and odorless liquid, along with high boiling point. Triacetin has been approved as a ‘Generally Recognized as Safe (GRAS)’ food additive by the US Food and Drug Administration.

Triacetin Market Dynamics

Increasing adoption of triacetin from various end-use industries such as tobacco, food, and pharmaceutical, is a key factor expected to drive growth of the global triacetin market over the forecast period.

In addition, increasing demand for triacetin in chemical industry, owing to its compatibility with natural and synthetic rubber, and resistance to light, is another factor expected to fuel demand and drives growth of the target market over the forecast period. Furthermore, increasing R&D investment for new and cost effective cosmetic products with no side-effects, also anticipated to boost demand for triacetin and propel growth of the target market over the forecast period.

However, availability of number of substitutes with changing preference of customers is a key factor may hamper demand and restrain growth of the global triacetin market over the forecast period. In addition, fluctuating prices of raw materials, is another factor expected to hamper growth of the target market over the forecast period.

Ongoing trend observed in the global triacetin market is increasing adoption of triacetin, especially in food industry, owing to artificial food regeneration systems on long space missions and expected to continue over the forecast period.

Increasing demand for triacetin in gasoline to reduce the engine knocking and in biodiesel to improve the cold and viscosity properties, is expected to create a lucrative opportunity for players operating in the global triacetin market in the next coming years.

Analysis by Segment

Among the end-use industry segments, the tobacco industry segment is accounted for highest share in terms of revenue in the target market during the forecast period, followed by food industry and pharmaceutical industry respectively.

Analysis by Region

The market in the Asia Pacific is expected to dominant the global triacetin market in terms of revenue and is projected to witness fastest growth rate in the target market over the forecast period, owing to increasing demand from various end-use industries in developing countries such as India, China and others in the region. In addition, increasing R&D in food and pharmaceutical industries for the development of new products, is also expected to bolster growth of the target market in the region. In addition, the triacetin market in Europe is expected to register significant share in terms of revenue over the forecast period, followed by North America, the Middle East & Africa, and Latin America respectively.

Global Triacetin Market Segmentation:

Segmentation by Raw Material:

• Vegetable glycerin
• Synthetic glycerin

Segmentation by Application:

• Plasticizer
• Solvent
• Humectant
• Antifungal Agents
• Others (Stabilizers, Additive, and Anti-knocking Agent)

Segmentation by End-use Industry:

• Tobacco
• Food
• Pharmaceutical
• Cosmetic
• Chemical
• Others (Inks, and Coatings and Adhesives)

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa