Triacetin Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2021 - 2026

Report Code: CMR 72832 Report Format: PDF + Excel

Triacetin Market Overview 

The Triacetin Market size is forecast to reach US$200 million by 2027, after growing at a CAGR of 5.1% during 2022-2027, owing to the rising demand from various end-use industries such as food and beverage, pharmaceuticals, plastics, and more. Triacetin is one of the glycerin acetate compounds known as glycerin triacetate. It is the triglyceride of glycerol acetylating agents, such as acetic anhydride and acetic acid. The triacetin market is fueled by an increase in demand for flavorings and fragrances from the food and beverage industry. Furthermore, the rapid growth of the cosmetics industry is accelerating the demand for the triacetin industry growth. All these factors are driving the growth of the triacetin market and is anticipated to drive the growth in the future forecast period. 

COVID-19 Impact 

The triacetin market was affected by the COVID-19 pandemic in 2020, due to the strict imposition of lockdown. Because of the COVID-19 pandemic, the supply chain was disrupted, production was hindered and exports declined. The exports of beverages saw a global level decline in the year 2020. For instance, according to International Trade Centre (ITC), in 2019 the global level exports of beverages were valued at US$123.49 billion, and in 2020 it was valued at US$117.22 billion, a decline of 5.35%. This decline in exports resulted in losses for the triacetin industry. However, in the starting months of 2021 when the COVID-19 cases increased, governments across the nations imposed strict lockdown but the production was allowed with less number of laborers as a result of this the triacetin market growth was not adversely affected as it was affected in 2020. The impact of COVID-19 is expected to be reduced by mid-2022, resulting in triacetin market growth.

Report Coverage 

The report: “Triacetin Market–Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Triacetin Market. 

By Grade: Food Grade, Industrial Grade, and Tobacco Grade. 

By Function: Binder, Emulsifier, Solidifier, Plasticizer, Humectants, Solvent, and Others. 

By Application: Adhesives& Sealants, Agrochemical, Food Additive, Flavourings and Fragrance, Cigarette Filters, Paints and Coatings, Animal Feed, Printing Ink, Antifungal Drugs, and Others. 

By End-Use Industry: Tobacco, Chemical, Food and Beverage (Bakery Products, Dairy Products, Confectionery, Beverages, and Others), Personal Care (Nail Care, Perfume, Skin Care, and Others), Pharmaceuticals, Agriculture, Metal & Foundry, and Others. 

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East (Saudi Arabia, UAE, Israel, and Rest of Middle East), and Africa (South Africa, Nigeria, and Rest of Africa)) 

Key Takeaways 

  • Asia Pacific region dominates the triacetin market, owing to its increasing food processing industry in the region. For instance, according to Invest India, it is forecasted that by 2025-26 the output of the food processing industry will reach US$535 billion.  
  • Triacetin is used in the production of cigarette filters by the tobacco industry as a solidifier. The tobacco industry's increasing need for triacetin is propelling the triacetin market growth. 
  • Triacetin is employed as an ingredient in animal feed and as an agrochemical for pest management in the agriculture industry, which is accelerating the triacetin market growth. 
  • However, there are certain safety concerns regarding the use of triacetin, which is posing as a roadblock for the triacetin market growth.   

Figure: Asia-Pacific Triacetin Market Revenue, 2021-2027 (US$ Million)

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Triacetin Market Segment Analysis – By Grade 

The food-grade segment held the largest share in the triacetin market in 2021. The United States Food and Drug Administration (USFDA) has allowed the use of triacetin in food, and it is included in the Good Food Manufacturing Practices list (GFM). The food-grade of triacetin is used as an ingredient in many foods and beverage products and cosmetics products. Triacetin is a suitable solvent and fixative for many flavourings and perfumes because of its strong solvency and low volatility. As a result of these benefits, the food-grade triacetin is being used more frequently in the food and beverage industry, which propelling the triacetin market growth. 

Triacetin Market Segment Analysis – By Function 

The plasticizer segment held the largest share in the triacetin market in 2021, owing to its increasing use in tobacco, personal care products, pharmaceuticals, and more. Triacetin is often used as a plasticizer because its cellulosic resin plasticizer is compatible with cellulose acetate, nitrocellulose, and ethyl cellulose in all concentrations. The plasticizer capabilities have been utilized for the synthesis of biodegradable oils, which have been used in the manufacturing of pharmaceutical products. Furthermore, due to its chemical properties, the cosmetics industry employs plasticizer in nail and skin care products. Plasticizers are also used in the tobacco industry as it gives the good hold on the cigarette filters. Thus, the increasing use of plasticizers in various end-use industries is anticipated to drive the growth of the triacetin market. 

Triacetin Market Segment Analysis – By Application 

The flavourings and fragrance segment held the largest share in the triacetin market in 2021 and is growing at a CAGR of 4.9% during 2022-2027. Triacetin gives the advantage of enhancing the flavourings, which results in improving the taste of food and beverage products, as the market for food and beverages is increasing and leading to the growth of the triacetin industry. In the personal care industry, it is used in skin care products and perfumes for enhancing the fragrance. The global demand for unisex fine fragrances is increasing, which is accelerating the demand for flavourings and fragrances. For instance, according to the Cosmetics Toiletry and Perfumery Association (CTPA), in 2019, the global sales of unisex fine fragrance was at €38.69 million (US$43.31 million) and in the year 2020, it increased to approximately €50 million (US$51.11 million), with an increase of 29.1%. Due to these factors, the demand for flavourings and fragrances is increasing which is anticipated to drive the growth of the triacetin market in the forecast period. 

Triacetin Market Segment Analysis – By End-Use Industry 

The food and beverage segment held the largest share in the triacetin market in 2021 and is growing at a CAGR of 6% during 2022-2027.  When compared with other food-grade triacetin has better texture, moisturizing, emulsifying, and stabilizing qualities, making it ideal for use in the food and beverage industry. As the global demand for dairy products is increasing, it is leading to the growth of the food and beverage industry. For instance, U.S Department of Agriculture (USDA), in the year 2019 the total production of US dairy products was 18,844 (million Ib) and in 2020 it increased to 19,414 (million ib), an increase of 3.02%. Moreover, higher growth in the food and beverages industry was seen in the UK according to Food and Drink Federation of UK (FDF), the total manufacturing in the year 2018 for food and beverages was €28 billion (US$33.07 billion) and in 2019 it was €29 billion (US$32.47 billion) with a total increase of 3.6%. Thus, the increasing demand for the food and beverage industry is anticipated to drive the growth of the triacetin market in the forecast period. 

Triacetin Market Segment Analysis – By Geography 

Asia-Pacific region held the largest share in the triacetin market in 2021 up to 31% owing to its increasing use in the end-use industries such as food and beverage, pharmaceuticals, agriculture, and personal care. The population of the countries is increasing across the Asia Pacific region and the burden of food is increasing, which has resulted in more production in the food industry. For instance, according to, Indian Brand Equity Foundation (IBEF), the packaged food demand in India is forecasted to reach US$70 billion by 2025. Moreover, the Asia-Pacific cosmetics sector has seen growth, which is leading to the growth of the triacetin market, For instance, according to International Trade Administration (ITA), in 2018 the South Korean Cosmetics market was US$9.37 billion and in 2019 US$9.43 billion the market is seeing a steady growth rate. Thus, the food and beverage and personal care industry of the Asia-Pacific region will increase the demand for triacetin and it is anticipated to drive the growth of the Triacetin market in the future forecast period.  

Triacetin Market Drivers 

  • Rapid Growth of the Pharmaceutical Industry 

Triacetin is used in the manufacturing of cancer-grade medicines, and anti-fungal medicines. At the global level, there has been increased pharmaceutical spending, which is leading to the growth of the triacetin industry. For instance, according to the Organisation for Economic Co-operation and Development (OECD), in the year 2019, the Ireland pharmaceutical expenditure was approximately US$6.73 billion and in 2020 it increased to approximately US$7.04 billion, with an increase of 4.6%. Moreover, the growing pharmaceutical industry of India will also lead to the growth of the triacetin industry. For instance, according to Invest India, the pharmaceutical industry of India is forecasted to reach US$65 billion by 2024. Thus, the increasing demand for the pharmaceutical industry is anticipated to drive the growth of the isobutyl benzene market. 

  • Growth in the Cosmetics Industry 

Triacetin is used in the cosmetics industry because in comparison with other chemicals it kills or inhibits the growth of bacteria, which helps to cleanse the skin and prevent odor. The growing demand for skin care products is propelling the cosmetics market growth, which is pumping the triacetin market growth. For instance, according to Cosmetics Toiletry and Perfumery Association (CTPA), in the year 2019, the global hand care sales were €54.094 million (US$60.56 million) and in 2020 it increased to €68.25 million (US$77.95 million), with an increase of 26.2%. Similarly, in the year 2019, the global body cream and lotion sales were €198.39 million (US$222.09 million) and in 2020 it increased to €201.36 million (US$229.99 million), with an increase of 1.5%. Thus, the increasing demand for the cosmetics industry is driving the isobutyl benzene market growth. 

Triacetin Market Challenges 

  • Safety Concerns Related to the Use of Triacetin 

The triacetin market is facing challenges related to safety concerns while handling it. The major constraint while using triacetin is that the substance or product that contains triacetin can catch fire and it is explosive. If by mistake triacetin comes in contain with eyes or skin it can cause skin burns and blindness. Moreover, inhalation and ingestion of triacetin are injurious to the vital organs of the body. It has been made compulsory to have a label of the handle with care on the packaging of the triacetin and it is advised to use safety goggles and gloves while dealing with triacetin. Thus, these factors are posing a challenge for the growth of the triacetin market.  

Triacetin Market Landscape 

Technology launches, acquisitions, and increased R&D activities are key strategies adopted by players in the triacetin market. Major players of the triacetin market include:

  1. Anhui Hongyang Chemical Co. Ltd. 
  2. Jinlomg Technology Group Co. Ltd. 
  3. Shanghai Innojade International Co. Ltd. 
  4. Eastman Chemical Company 
  5. Emery Oleochemicals 
  6. Polynt Composites Korea Co. Ltd. 
  7. Lanxess Energizing Chemistry 
  8. Rubexco Chemical Imports  
  9. Henkel AG & Co 
  10. Zhonglan Industry Co. Ltd. 

Acquisitions/Technology Launches 

In September 2020, Eastman signed an agreement with DKSH for its personal care products distribution throughout the Asia Pacific region, this partnership will benefit Eastman Chemicals triacetin, specialty chemical, and other personal care chemical divisions.  

Relevant Reports 

Beverage Additives Market – Forecast (2021 - 2026) 

Report Code: FBR 0016 

Plasticizers Market – Forecast (2021 - 2026) 

Report Code: CMR 0146

For more Chemicals and Materials related reports, please click here

1. Triacetin Market: Market Overview 
    1.1 Definitions and Scope  
2. Triacetin Market- Executive Summary 
    2.1 Key Trends by Grade 
    2.2 Key Trends by Function 
    2.3 Key Trends by Application 
    2.4 Key Trends by End-Use Industry 
    2.5 Key Trends by Geography 
3. Triacetin Market– Comparative analysis  
    3.1 Market Share Analysis- Major Companies 
    3.2 Product Benchmarking- Major Companies 
    3.3 Top 5 Financials Analysis 
    3.4 Patent Analysis- Major Companies 
    3.5 Pricing Analysis (ASPs will be provided) 
4. Triacetin Market- Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis: 
        4.1.1 Investment 
        4.1.2 Revenue 
        4.1.3 Product portfolio 
        4.1.4 Venture Capital and Funding Scenario 
5. Triacetin Market– Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview 
    5.2 New Business and Ease of Doing Business Index 
    5.3 Successful Venture Profiles 
    5.4 Customer Analysis – Major companies 
6. Triacetin Market- Market Forces 
    6.1 Market Drivers 
    6.2 Market Constraints 
    6.3 Porters Five Force Model 
        6.3.1 Bargaining Power of Suppliers 
        6.3.2 Bargaining Powers of Buyers 
        6.3.3 Threat of New Entrants 
        6.3.4 Competitive Rivalry 
        6.3.5 Threat of Substitutes  
7. Triacetin Market– Strategic Analysis 
    7.1 Value/Supply Chain Analysis 
    7.2 Opportunity Analysis 
    7.3 Product/Market Life Cycle 
    7.4 Distributor Analysis – Major Companies 
8. Triacetin Market– By Grade (Market Size-US$ Million/Billion) 
    8.1 Food Grade 
    8.2Industrial Grade 
    8.3 Tobacco Grade   
9. Triacetin Market– By Function (Market Size-US$ Million/Billion) 
    9.1 Binder 
    9.2 Emulsifier 
    9.3 Solidifier 
    9.4 Plasticizer 
    9.5 Humectants 
    9.6 Solvent 
    9.7 Others 
10. Triacetin Market– By Application (Market Size-US$ Million/Billion) 
    10.1 Adhesives & Sealants 
    10.2 Agrochemicals  
    10.3 Food Additive 
    10.4 Flavors and Fragrance 
    10.5 Cigarette Filters 
    10.6 Paints and Coatings 
    10.7 Animal Feeds 
    10.8 Printing Inks 
    10.9 Antifungal Drugs 
    10.10 Others 
11. Triacetin Market-By End-Use Industry (Market Size -US$ Million/Billion) 
    11.1 Tobacco 
    11.2 Chemical 
    11.3 Food and Beverage 
        11.3.1 Bakery Products 
        11.3.2 Dairy Products 
        11.3.3 Confectionery 
        11.3.4 Beverages 
        11.3.5 Others 
    11.4 Personal Care 
        11.4.1 Nail Care 
        11.4.2 Perfume 
        11.4.3 Skin Care 
        11.4.4 Others 
    11.5 Pharmaceuticals 
    11.6 Agriculture 
    11.7 Metal & Foundry 
    11.8 Others
12. Triacetin Market-By Geography (Market Size -US$ Million/Billion) 
    12.1 North America 
        12.1.1 USA 
        12.1.2 Canada 
        12.1.3 Mexico 
    12.2 Europe 
        12.2.1 UK 
        12.2.2 Germany 
        12.2.3 France 
        12.3.4 Italy 
        12.3.5 Netherlands 
        12.3.6 Spain 
        12.3.7 Russia 
        12.3.8 Belgium 
        12.3.9 Rest of Europe 
    12.3 Asia-Pacific 
        12.3.1 China 
        12.3.2 Japan 
        12.3.3 India 
        12.3.4 South Korea 
        12.3.5 Australia and New Zealand 
        12.3.6 Indonesia 
        12.3.7 Taiwan 
        12.3.8 Malaysia 
        12.3.9 Rest of APAC 
     12.4 South America 
        12.4.1 Brazil 
        12.4.2 Argentina 
        12.4.3 Colombia 
        12.4.4 Chile 
        12.4.5 Rest of South America 
    12.5 Rest of the World 
        12.5.1 Middle East 
            12.5.1.1 Saudi Arabia 
            12.5.1.2 UAE  
            12.5.1.3 Israel 
            12.5.1.4 Rest of Middle East 
        12.5.2 Africa 
            12.5.2.1 South Africa 
            12.5.2.2 Nigeria 
            12.5.2.3 Rest of Africa 
13. Triacetin Market – Entropy 
    13.1 New Product Launches 
    13.2 M&As, Collaborations, JVs and Partnerships 
14. Triacetin Market–Industry / Segment Competition landscape Premium Premium 
    14.1 Company Benchmarking Matrix – Major Companies 
    14.2 Market Share at Global Level - Major companies 
    14.3 Market Share by Key Region - Major companies 
    14.4 Market Share by Key Country - Major companies 
    14.5 Market Share by Key Application - Major companies 
    14.6 Market Share by Key Product Type/Product category- Major companies 
15. Triacetin Market– Key Company List by Country Premium Premium 
16. Triacetin Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments 
    16.1 Company 1 
    16.2 Company 2 
    16.3 Company 3 
    16.4 Company 4 
    16.5 Company 5 
    16.6 Company 6 
    16.7 Company 7 
    16.8 Company 8 
    16.9 Company 9 
    16.10 Company 10 and more 
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Triacetin Market By Product Type Market 2019-2024 ($M)
1.1 Plasticizer Market 2019-2024 ($M) - Global Industry Research
1.2 Solvent Market 2019-2024 ($M) - Global Industry Research
1.3 Humectant Market 2019-2024 ($M) - Global Industry Research
2.Global Triacetin Market By End-Use Industry Market 2019-2024 ($M)
2.1 Tobacco Market 2019-2024 ($M) - Global Industry Research
2.2 Food & Beverage Market 2019-2024 ($M) - Global Industry Research
2.3 Pharmaceutical Market 2019-2024 ($M) - Global Industry Research
2.4 Cosmetic Market 2019-2024 ($M) - Global Industry Research
2.5 Chemical Market 2019-2024 ($M) - Global Industry Research
3.Global Triacetin Market By Product Type Market 2019-2024 (Volume/Units)
3.1 Plasticizer Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Solvent Market 2019-2024 (Volume/Units) - Global Industry Research
3.3 Humectant Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Triacetin Market By End-Use Industry Market 2019-2024 (Volume/Units)
4.1 Tobacco Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Food & Beverage Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Pharmaceutical Market 2019-2024 (Volume/Units) - Global Industry Research
4.4 Cosmetic Market 2019-2024 (Volume/Units) - Global Industry Research
4.5 Chemical Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Triacetin Market By Product Type Market 2019-2024 ($M)
5.1 Plasticizer Market 2019-2024 ($M) - Regional Industry Research
5.2 Solvent Market 2019-2024 ($M) - Regional Industry Research
5.3 Humectant Market 2019-2024 ($M) - Regional Industry Research
6.North America Triacetin Market By End-Use Industry Market 2019-2024 ($M)
6.1 Tobacco Market 2019-2024 ($M) - Regional Industry Research
6.2 Food & Beverage Market 2019-2024 ($M) - Regional Industry Research
6.3 Pharmaceutical Market 2019-2024 ($M) - Regional Industry Research
6.4 Cosmetic Market 2019-2024 ($M) - Regional Industry Research
6.5 Chemical Market 2019-2024 ($M) - Regional Industry Research
7.South America Triacetin Market By Product Type Market 2019-2024 ($M)
7.1 Plasticizer Market 2019-2024 ($M) - Regional Industry Research
7.2 Solvent Market 2019-2024 ($M) - Regional Industry Research
7.3 Humectant Market 2019-2024 ($M) - Regional Industry Research
8.South America Triacetin Market By End-Use Industry Market 2019-2024 ($M)
8.1 Tobacco Market 2019-2024 ($M) - Regional Industry Research
8.2 Food & Beverage Market 2019-2024 ($M) - Regional Industry Research
8.3 Pharmaceutical Market 2019-2024 ($M) - Regional Industry Research
8.4 Cosmetic Market 2019-2024 ($M) - Regional Industry Research
8.5 Chemical Market 2019-2024 ($M) - Regional Industry Research
9.Europe Triacetin Market By Product Type Market 2019-2024 ($M)
9.1 Plasticizer Market 2019-2024 ($M) - Regional Industry Research
9.2 Solvent Market 2019-2024 ($M) - Regional Industry Research
9.3 Humectant Market 2019-2024 ($M) - Regional Industry Research
10.Europe Triacetin Market By End-Use Industry Market 2019-2024 ($M)
10.1 Tobacco Market 2019-2024 ($M) - Regional Industry Research
10.2 Food & Beverage Market 2019-2024 ($M) - Regional Industry Research
10.3 Pharmaceutical Market 2019-2024 ($M) - Regional Industry Research
10.4 Cosmetic Market 2019-2024 ($M) - Regional Industry Research
10.5 Chemical Market 2019-2024 ($M) - Regional Industry Research
11.APAC Triacetin Market By Product Type Market 2019-2024 ($M)
11.1 Plasticizer Market 2019-2024 ($M) - Regional Industry Research
11.2 Solvent Market 2019-2024 ($M) - Regional Industry Research
11.3 Humectant Market 2019-2024 ($M) - Regional Industry Research
12.APAC Triacetin Market By End-Use Industry Market 2019-2024 ($M)
12.1 Tobacco Market 2019-2024 ($M) - Regional Industry Research
12.2 Food & Beverage Market 2019-2024 ($M) - Regional Industry Research
12.3 Pharmaceutical Market 2019-2024 ($M) - Regional Industry Research
12.4 Cosmetic Market 2019-2024 ($M) - Regional Industry Research
12.5 Chemical Market 2019-2024 ($M) - Regional Industry Research
13.MENA Triacetin Market By Product Type Market 2019-2024 ($M)
13.1 Plasticizer Market 2019-2024 ($M) - Regional Industry Research
13.2 Solvent Market 2019-2024 ($M) - Regional Industry Research
13.3 Humectant Market 2019-2024 ($M) - Regional Industry Research
14.MENA Triacetin Market By End-Use Industry Market 2019-2024 ($M)
14.1 Tobacco Market 2019-2024 ($M) - Regional Industry Research
14.2 Food & Beverage Market 2019-2024 ($M) - Regional Industry Research
14.3 Pharmaceutical Market 2019-2024 ($M) - Regional Industry Research
14.4 Cosmetic Market 2019-2024 ($M) - Regional Industry Research
14.5 Chemical Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Triacetin Market Revenue, 2019-2024 ($M)
2.Canada Triacetin Market Revenue, 2019-2024 ($M)
3.Mexico Triacetin Market Revenue, 2019-2024 ($M)
4.Brazil Triacetin Market Revenue, 2019-2024 ($M)
5.Argentina Triacetin Market Revenue, 2019-2024 ($M)
6.Peru Triacetin Market Revenue, 2019-2024 ($M)
7.Colombia Triacetin Market Revenue, 2019-2024 ($M)
8.Chile Triacetin Market Revenue, 2019-2024 ($M)
9.Rest of South America Triacetin Market Revenue, 2019-2024 ($M)
10.UK Triacetin Market Revenue, 2019-2024 ($M)
11.Germany Triacetin Market Revenue, 2019-2024 ($M)
12.France Triacetin Market Revenue, 2019-2024 ($M)
13.Italy Triacetin Market Revenue, 2019-2024 ($M)
14.Spain Triacetin Market Revenue, 2019-2024 ($M)
15.Rest of Europe Triacetin Market Revenue, 2019-2024 ($M)
16.China Triacetin Market Revenue, 2019-2024 ($M)
17.India Triacetin Market Revenue, 2019-2024 ($M)
18.Japan Triacetin Market Revenue, 2019-2024 ($M)
19.South Korea Triacetin Market Revenue, 2019-2024 ($M)
20.South Africa Triacetin Market Revenue, 2019-2024 ($M)
21.North America Triacetin By Application
22.South America Triacetin By Application
23.Europe Triacetin By Application
24.APAC Triacetin By Application
25.MENA Triacetin By Application
26.Eastman Chemical Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Lanxess AG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.BASF SE, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Polynt Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Daicel Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.KLK OLEO, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Atanor S.C.A., Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Mosselman S.A., Sales /Revenue, 2015-2018 ($Mn/$Bn)