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From 2023 to 2030, the worldwide market for trimellitic anhydride is projected to expand at a CAGR of 7.1% in terms of revenue.
One of the main reasons driving the market revenue growth is the increasing demand from the Asia Pacific region due to the presence of a significant number of manufacturing industries in the region. The widespread usage of trimellitic anhydride in the production of resins and powder coatings for automobiles is another key factor propelling the market's revenue rise. In addition, the expanding building sector is expected to have a constructive effect on market expansion during the next few years.
Consumers' increasing choice for lightweight items is driving the trimellitic anhydride market expansion, which in turn is being fueled by the rapidly developing infrastructure and expanding packaging sectors. PVC medical items and blood platelet storage are in high demand because of the rapidly growing older population and the accompanying increase in healthcare costs around the world. One in six individuals around the world will be 60 or older by the year 2030, says the World Health Organization.
Reactive chemical compound trimellitic anhydride (TMA) is mainly employed in the manufacture of trimellitate esters. Its rising demand is being fueled by its extensive application as an intermediary in the production of numerous end products, including as dyes, chemicals, polymers, adhesives, printing inks, synthetic surface coatings, agrochemicals, and pharmaceuticals. Increases in the manufacture of paints, wire enamels, and heat-resistant varnishes, as well as rising product uses in vinyl flooring, will further contribute to market growth.
Growing demand for paints, coatings, and wire and cable insulation are all factors that should contribute to the worldwide trimellitic anhydride market expanding rapidly throughout the forecast period. Demand is expected to be boosted by the rising use of the product in the automotive and medical manufacturing industries. Industrial intermediates and paint and coating additives are two of the most common applications for trimellitic anhydride.
The substance is produced through a series of complex chemical processes, including the oxidation of pseudocumene to trimellitic acid, which is then dehydrated. Subliming trimellitic acid above its melting point and subsequently heating crude trimellitic acid with V2O5 is another method of producing trimellitic anhydride. It can also be produced by oxidation with 7% nitric acid at 170–190 degrees Celsius and 2 MPa. However, compared to other approaches, this one is inefficient, hence it is rarely used in industry.
Resins, powder coatings, binders, and others make up some of the market's subsegments based on end use. Thermoset and thermoplastic resins are two further categories of resin. Epoxy, Polyester, and acrylic are the three main categories of powder coatings. Glass fibers and other binders are subsets of the binder category. Due to their widespread application in sectors as diverse as construction, automotive, and aerospace, binders are projected to amass the greatest revenue share in the global market. Composites manufacturing also involves the use of binders. Increased demand from the transportation and building sectors bodes well for the resins market in the future years.
North America, Europe, Asia Pacific, South America, and the Middle East and Africa make up the geographical subsegments of the market. Due to the huge number of manufacturing industries in countries like China, India, and Japan, the Asia Pacific region is predicted to account for the greatest revenue share in the global market over the forecast period. Trimellitic anhydride is widely utilized in the production of resins and powder coatings for automobiles, therefore the automotive industry is another major driver for this market in the region. Due to the huge number of automotive and construction sectors located there, North America and Europe are likewise expected to be key markets for Trimellitic Anhydride. The presence of a sizable construction sector bodes well for the Middle East and Africa's economic development in the years ahead.
Report Coverage
Global Trimellitic Anhydride research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Trimellitic Anhydride report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Trimellitic Anhydride competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and00. profiles the key Trimellitic Anhydride market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Trimellitic Anhydride market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Trimellitic Anhydride market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Flint Hills Resources, Polynt, Jiangsu Zhengdan Chemical, Wuxi Baichuan Chemical, Anhui Taida New Materials, Mitsubishi Gas Chemical, Platform Specialty Products, Valent (Sumitomo Chemical), DOW Chemical Company (Dow Inc.), Ineos Joliet, Syngenta (ChemChina, Cnac Saturn (Nl) B.V.), Land O'Lakes, Monsanto (Bayer), BASF, Sanco Industries, Clariant AG.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Trimellitic Anhydride market based on the below-mentioned segments:
Global Trimellitic Anhydride Market, By Type
MC Method Product
MGC Method Product
Global Trimellitic Anhydride market, By Application
Paints & Coatings
Plasticizers
Adhesives
Insulating Materials
Automotive
Electronics
Pharmaceutical
Agriculture
Global Trimellitic Anhydride Market, By End User
Construction
Automotive
Industrial
Consumer Goods
Electronics
Medical
Agriculture
Global Trimellitic Anhydride market, Regional Analysis
One of the main reasons driving the market revenue growth is the increasing demand from the Asia Pacific region due to the presence of a significant number of manufacturing industries in the region. The widespread usage of trimellitic anhydride in the production of resins and powder coatings for automobiles is another key factor propelling the market's revenue rise. In addition, the expanding building sector is expected to have a constructive effect on market expansion during the next few years.
Consumers' increasing choice for lightweight items is driving the trimellitic anhydride market expansion, which in turn is being fueled by the rapidly developing infrastructure and expanding packaging sectors. PVC medical items and blood platelet storage are in high demand because of the rapidly growing older population and the accompanying increase in healthcare costs around the world. One in six individuals around the world will be 60 or older by the year 2030, says the World Health Organization.
Reactive chemical compound trimellitic anhydride (TMA) is mainly employed in the manufacture of trimellitate esters. Its rising demand is being fueled by its extensive application as an intermediary in the production of numerous end products, including as dyes, chemicals, polymers, adhesives, printing inks, synthetic surface coatings, agrochemicals, and pharmaceuticals. Increases in the manufacture of paints, wire enamels, and heat-resistant varnishes, as well as rising product uses in vinyl flooring, will further contribute to market growth.
Growing demand for paints, coatings, and wire and cable insulation are all factors that should contribute to the worldwide trimellitic anhydride market expanding rapidly throughout the forecast period. Demand is expected to be boosted by the rising use of the product in the automotive and medical manufacturing industries. Industrial intermediates and paint and coating additives are two of the most common applications for trimellitic anhydride.
The substance is produced through a series of complex chemical processes, including the oxidation of pseudocumene to trimellitic acid, which is then dehydrated. Subliming trimellitic acid above its melting point and subsequently heating crude trimellitic acid with V2O5 is another method of producing trimellitic anhydride. It can also be produced by oxidation with 7% nitric acid at 170–190 degrees Celsius and 2 MPa. However, compared to other approaches, this one is inefficient, hence it is rarely used in industry.
Resins, powder coatings, binders, and others make up some of the market's subsegments based on end use. Thermoset and thermoplastic resins are two further categories of resin. Epoxy, Polyester, and acrylic are the three main categories of powder coatings. Glass fibers and other binders are subsets of the binder category. Due to their widespread application in sectors as diverse as construction, automotive, and aerospace, binders are projected to amass the greatest revenue share in the global market. Composites manufacturing also involves the use of binders. Increased demand from the transportation and building sectors bodes well for the resins market in the future years.
North America, Europe, Asia Pacific, South America, and the Middle East and Africa make up the geographical subsegments of the market. Due to the huge number of manufacturing industries in countries like China, India, and Japan, the Asia Pacific region is predicted to account for the greatest revenue share in the global market over the forecast period. Trimellitic anhydride is widely utilized in the production of resins and powder coatings for automobiles, therefore the automotive industry is another major driver for this market in the region. Due to the huge number of automotive and construction sectors located there, North America and Europe are likewise expected to be key markets for Trimellitic Anhydride. The presence of a sizable construction sector bodes well for the Middle East and Africa's economic development in the years ahead.
Report Coverage
Global Trimellitic Anhydride research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Trimellitic Anhydride report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Trimellitic Anhydride competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and00. profiles the key Trimellitic Anhydride market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Flint Hills Resources, Polynt, Jiangsu Zhengdan Chemical, Wuxi Baichuan Chemical, Anhui Taida New Materials, Mitsubishi Gas Chemical, Platform Specialty Products, Valent (Sumitomo Chemical), DOW Chemical Company (Dow Inc.), Ineos Joliet, Syngenta (ChemChina, Cnac Saturn (Nl) B.V.), Land O'Lakes, Monsanto (Bayer), BASF, Sanco Industries, Clariant AG. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Trimellitic Anhydride Market from 2021 to 2030.
- Market Forecast for Trimellitic Anhydride Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Trimellitic Anhydride competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Trimellitic Anhydride
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Trimellitic Anhydride market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Trimellitic Anhydride market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Flint Hills Resources, Polynt, Jiangsu Zhengdan Chemical, Wuxi Baichuan Chemical, Anhui Taida New Materials, Mitsubishi Gas Chemical, Platform Specialty Products, Valent (Sumitomo Chemical), DOW Chemical Company (Dow Inc.), Ineos Joliet, Syngenta (ChemChina, Cnac Saturn (Nl) B.V.), Land O'Lakes, Monsanto (Bayer), BASF, Sanco Industries, Clariant AG.
Primary Target Market
- Market Players of Trimellitic Anhydride
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Trimellitic Anhydride market based on the below-mentioned segments:
Global Trimellitic Anhydride Market, By Type
MC Method Product
MGC Method Product
Global Trimellitic Anhydride market, By Application
Paints & Coatings
Plasticizers
Adhesives
Insulating Materials
Automotive
Electronics
Pharmaceutical
Agriculture
Global Trimellitic Anhydride Market, By End User
Construction
Automotive
Industrial
Consumer Goods
Electronics
Medical
Agriculture
Global Trimellitic Anhydride market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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