TRIMETHYLOLPROPANE TRIACRYLATE MARKET ANALYSIS

Regional Analysis

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.