Triacetin Market Development Analysis by Top 3 Companies (LANXESS, Croda International Plc, BASF SE)
Triacetin is also known as glyceryl triacetate and triglyceride 1,2,3-triacetoxypropane. It is used in making tablets and capsules in the pharmaceutical industry. The Food and Drug Administration (FDA) has approved its usage as food additive in the food industry. It is used as solvent for flavoring various food products. Triacetin is used as a plasticizer for cellulose acetate, ethyl cellulose, and nitrocellulose.
Based on application, the triacetin market is segmented into plasticizer, food additive, pharmaceutical, cosmetics, metal processing, and others. Triacetin offers superior suitability for the solidification of cellulose fibers. It also provides excellent plasticizing effect for various cellulose based paints and plastics. Triacetin is used as a plasticizer in nail polish in the cosmetic industry. Increase in usage of nail polish in the cosmetic industry is likely to boost the demand for triacetin in the near future. Furthermore, it is used during metal extraction and metal processing methods. It is used as plasticizer for cellulose acetate. Cellulose acetate is employed in the cigarette industry to manufacture cigarette filters. Triacetin is manufactured in a batch-wise controlled reaction of acetic acid, acetic anhydride, and glycerol. Fluctuation in prices of raw materials is likely to hamper the demand for triacetin.
The global market for triacetin is expected to be driven by the expansion of food and pharmaceutical sectors. Asia Pacific is likely to be the growing region for triacetin in the next few years owing to the rapid increase in demand for pharmaceutical and food in China and India. Rise in population in developing countries such as China, India, and Brazil and increase in disposable incomes and purchase parity are estimated to boost the usage of triacetin. Manufacturers operating in the triacetin market focus on developing economies to increase their market share. Demand for cellulose acetate to manufacture cigarette filters is likely to increase owing to the rising consumption of cigarettes in the last few years.
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This, in turn, is estimated to boost the demand for triacetin to manufacture cellulose acetate. The market dynamics in Latin America and the Middle East are favorable for the growth of the triacetin market. Various large scale pharmaceutical and food manufacturers are located in North America and Europe. Thus, the steadily improving economies of North America and Europe are also estimated to provide impetus to the global triacetin market. Demand for food and pharmaceutical products such as tablets and capsules has been rising significantly across the globe since the last few years. This is projected to propel the usage of triacetin during the forecast period. The factors mentioned above are likely to positively influence the global triacetin market.
Key companies operating in the global triacetin market include LANXESS, Croda International Plc, BASF SE, Eastman Chemical Company, Henan Huayin Chemical Co.,Ltd. and DAICEL CORPORATION. Several large companies operate in the triacetin market. However, the product offerings of different companies vary from each other. For instance, DAICEL CORPORATION sells their product for flavors & fragrance applications. BASF SE sells triacetin under the brand name Kollisolv. It is used in the manufacture of capsules and tablets. Numerous small scale players also operate in the market in Asia Pacific.