Market Overview:
Trimethylolpropane triacrylate (TMPTA) is a colorless viscous liquid used as a key reactive diluent in ultraviolet and electron beam cured acrylate resins and coatings. TMPTA improves flexibility and durability of finished products. Due to its excellent performance properties, TMPTA based formulations are ideal for industrial and commercial applications.
Market key trends:
One of the key trends in the market is growing demand from thermoset composite industry. TMPTA is used as a reactive diluent in commercial thermoset composite formulations. It improves mechanical strength and durability of finished composites. Increasing applications of lightweight and high strength composites in aerospace and defense industries is expected to drive the demand for TMPTA over the forecast period.
Segment Analysis
Trimethylolpropane triacrylate (TMPTA) market is segmented into purity level, application, and region. Based on purity level, the market is classified into below 98%, 98-99%, and above 99%. The above 99% purity level segment dominated the global market in 2022 and is likely to maintain its dominance during the forecast period. TMPTA with purity level above 99% finds wide application in various industries like paints & coatings, adhesives & sealants owing to its high purity content.
Key Takeaways
The global Trimethylolpropane Triacrylate Market Demand size was valued at US$ 151.3 million in 2023 and is expected to witness high growth, exhibiting a CAGR of 3.3% over the forecast period of 2023 to 2030, due to increasing demand from paints & coatings industry.
Regional analysis - Asia Pacific dominated the global market in 2022 and is projected to exhibit the fastest growth during the forecast period. This can be attributed to increasing paints & coatings consumption in China, India, and other Asia Pacific countries.
Key players - Key players operating in the trimethylolpropane triacrylate market are BASF S.E., J&K Scientific Ltd., Miwon Specialty Chemical Co., Ltd., and KPX Green Chemical Co. Ltd. BASF is one of the leading producers of TMPTA globally. J&K Scientific and Miwon Specialty Chemical are also among the top manufacturers of TMPTA with presence across Asia Pacific and North America.
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