by The global Trimethylolpropane Triacrylate Market is estimated to be valued at US$ 151.3 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Trimethylolpropane triacrylate (TMPTA) is a chemical compound used as a monomer in ultraviolet and electron beam cured acrylated resin formulations. It is a colorless viscous liquid that acts as a reactive diluent. Owing to its low viscosity, fast cure speed, and mechanical strength, TMPTA is ideal for use in adhesives, coating, inks, and 3D printing applications. It enhances the performance of products by imparting desirable properties such as resistance to moisture, chemicals, and weathering. Rising demand for high-performance and lightweight materials from end-use industries is propelling the growth of the trimethylolpropane triacrylate market.
Market Key Trends:
One of the key trends gaining traction in the trimethylolpropane triacrylate market is its growing adoption in 3D printing applications. TMPTA works well as a reactive diluent for 3D printing resins, imparting processability without compromising mechanical properties. It aids in achieving high resolutions and smooth surfaces in 3D prints. Moreover, it offers advantages such as reducing shrinkage and warpage during the curing process. Leading players are focusing on developing new formulations tailored for various 3D printing technologies which is expected to boost market growth over the forecast period.
Porter’s Analysis:
- Threat of new entrants: The threat of new entrants in trimethylolpropane triacrylate market is low as it requires high capital to enter this market due to existence of dominant players, stringent regulations, and availability of alternatives.
- Bargaining power of buyers: The bargaining power of buyers in trimethylolpropane triacrylate market is moderate. Owing to high price of trimethylolpropane triacrylate, buyers have moderately high bargaining power.
- Bargaining power of suppliers: The bargaining power of suppliers in trimethylolpropane triacrylate market is high attributed to limited number of suppliers and reliance on raw materials.
- Threat of new substitutes: The threat of substitutes is moderate as trimethylolpropane triacrylate has applications which are difficult to substitute.
- Competitive rivalry: High due to presence of key global players.
Key Takeaways:
The global trimethylolpropane triacrylate market is expected to witness high growth, exhibiting CAGR of 3.3% over the forecast period, due to increasing demand for coatings, inks & adhesives. The market size for 2023 is US$ 151.3 Mn.
Regional analysis: Asia Pacific region holds largest market share and is expected to remain fastest growing market during forecast period. This is attributed to high industrial growth and increasing construction activities in countries such as China and India.
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 manufacturer and supplier of trimethylolpropane triacrylate globally.
