January 4, 2021

TRIMETHYLOPROPANE MARKET ANALYSIS

Trimethylopropane Market - Size, Share, Trends, and Forecast 2019 – 2027

Trimethylopropane is a solid, white-colored crystalline, an organic compound with three hydroxyl functional groups in it. It is a hydroscopic compound, which is why it needs to be stored carefully to avoid moisture absorption. The compound is readily soluble in water, acetone, and alcohol and when melted it forms a transparent liquid. Generally, it is manufactured in the form of semi-transparent white flakes and is used in professional, consumer, and industrial applications. Trimethylopropane majorly used in the production of inks, greases, metalworking fluid, adhesives, wax-blends, sealants, coatings, polymer, plastics, polish, and others. Moreover, it is used in saturated polyesters such as acrylic acid esters, coil paintings, alkyds for painting, polyurethane, and more. It is also used as building block in polymer industry and as a base lubricant in motor oils.

Market Outlook

Global trimethylopropane market size is projected to increase significantly during the forecast period (2019-2027), owing to growing use of trimethylopropane in various industries. Growing use of trimethylopropane in the lubricant and coating industry is expected to increase the demand for trimethylopropane and thereby boost the market growth during the forecast period. The lubricant and coating industry has witnessed significant growth in the recent past, which is expected to increase the demand for trimethylopropane during the forecast period. Moreover, trimethylopropane poses no harmful effects on the environment, making it a globally accepted product as a base oil in motors. Furthermore, trimethylopropane is majorly used in paints in various industries. Rising construction activities around the world are expected to increase the demand for paint and thereby propel the market growth in the near future.

Significant growth of a number of industries such as construction and automotive around the world poses excellent growth opportunities for market players in the global trimethylopropane market.

Market Regional Analysis

Asia Pacific is projected to gain major market share in the global trimethylopropane market during the forecast period, owing to high disposable income of consumers in emerging economies such as China and India. Moreover, the continuous growth of construction and automotive industries is expected to drive growth of the market in the region. North America is expected to witness significant growth during the forecast period, owing to increasing demand for trimethylopropane in the region. Moreover, Europe and Latin America are also expected to witness significant market growth in the near future, owing to rapid growth of automotive industry in respective regions.

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Market Players

Key players operating in the global trimethylopropane market include Hubei Yihua Group Co. Ltd, Beijing Beilang Organic Chemical Plant, Fabbrica Adesivi Resine, Heibei Qinhuangdao Dahua Organic Chemical Plant, and BASF SE.

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