Trimethylolpropane Triacrylate Market, by Application (Adhesives & Sealants, Plastic, Ink, Paints & Coatings, and Others) - Size, Share, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Jul 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

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.

Drivers and Restraints

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.

Trimethylolpropane Triacrylate Market Taxonomy

On the basis of application, the trimethylolpropane triacrylate market is segmented into:

  • Adhesives & Sealants
  • Plastic
  • Ink
  • Paints & Coatings
  • Others

On the basis of region, the trimethylolpropane triacrylate market is segmented into:

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Russia
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • Northern Africa
    • Central Africa
    • South Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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