According to the current analysis of Reports and Data, the global Triacetin/Glyceral Triacetate market was valued at USD 280.9 Million in 2020 and is expected to reach USD 391.3 Million by year 2028, at a CAGR of 4.4%. Triacetin, also known as Glyceral triacetate, is a trimester of glycerol and acetic acid. It is an artificial chemical compound used in the varied application including tobacco industry, food additive, pharmaceutical products, fuel additive, humectant, and plasticizer and as a solvent. It is also known as triglyceride and 1, 2, 3-triacetoxypropane.Advanced analytical tools such as Porter’s Five Forces Analysis, SWOT analysis, and investment return analysis are used to obtain the report data. This data is represented through various diagrams, graphs, tables, and charts.
The research report projects significant revenue growth in the market with an in-depth assessment of key current and emerging trends and dynamics of the overall market for the forecast period of 2021-2028.
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Some of the key players concentrated in China, North America, Europe and Japan, such as Eastman, Lanxess, BASF, Daicel and Jiangsu Ruijia
The excellent properties of triacetin, such as its compatibility with natural and synthetic rubber and resistance to light, have increased its demand from the chemical industry. Due to the recently FDA approval to be used as food additives and even its high demand for plasticizer and humectant, so there’s an expansion of food and pharmaceutical sectors. The increasing use of triacetin in tobacco, food beverages, cosmetics, pharmaceuticals, and other industries is driving the growth of the Triacetin/Glyceral Triacetate market across the globe.
Further key findings from the report suggest:
According to British American Tobacco, there are an estimated one billion adult smokers worldwide. Growing consumption of cigarettes across the globe is driving the growth of the tobacco industry
In the pharmaceutical industry, triacetin is widely used as an antifungal agent and as a plasticizer for manufacturing capsules and capsule coatings. Drug development in the pharmaceutical industry and the benefits of medical, chemical, and biological research has propelled the growth of the pharmaceutical industry across the globe
Triacetin market is fastest growing at a CAGR of 0% in Asia Pacific due the growing number of population and increased demand for triacetin for use in various end-use industries. Continuous RD activities and increasing investments in the pharmaceutical and cosmetic sectors by various governments and leading market players for the development of new products are also driving the growth of the triacetin market in the Asia Pacific region
Emulsifier is the second leading Product segment because triacetin is used as a flavour enhancer to enhance flavours as an emulsifier to promote emulsification, and is used in various food applications, including baked foods, dairy products, and others. It is widely used for its texturing, moisturizing, emulsifying, and stabilizing properties
Tobacco industry segment has the highest CAGR of 4.8% and is the largest segment with a market size of 58.6% because major product of the tobacco industry is cigarettes, and triacetin is used as a plasticizer in cellulose acetate filters or cigarette filter rods. For example, China is the leading producer of tobacco, producing more than 3 million tons of tobacco leaf annually. According to a study, the market size of the tobacco industry is around USD 800 billion. This industry plays a vital role in the economies of many countries
Europe is the second largest region with a share of 27.9% owing to new products being developed by food beverages and pharmaceutical industries, which in turn fuels the growth of the Triacetin/Glyceral Triacetate market in this region
Food grade segment is second largest segment value at USD 56.8 million due to food grade triacetin is used in various applications in the food beverage industry, such as in baked foods, dairy products, confectionaries, and others in bubble gums or chewing gums. It is also used as a food additive in hard candy
North America is growing at a CAGR of 4.2% in the global Triacetin/Glyceral Triacetate market million owing to increasing need of capsules and tablets which is likely to drive the growth of the market
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For the purpose of the study, this Reports and Data has segmented the Global Triacetin/Glyceral Triacetate Market on the basis of grade, product type, end user and the regional outlook:
Grade (Revenue, USD Million; 2020–2028)
Tobacco
Food
Industrial
Product Type (Revenue, USD Million; 2020–2028)
Plasticizer
Emulsifier
Solvent
Humectant
Others
End User (Revenue, USD Million; 2020–2028)
Tobacco
Food Beverage
Pharmaceutical
Cosmetic
Others
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Regional Outlook: (Revenue, USD Million; 2020–2028)
North America
Europe
Asia Pacific
Latin America
Middle East and Africa (MEA)
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