Trioctyl Trimellitate (TOTM) Market : Future Innovation Strategies, Growth & Profit Analysis, Forecast by 2025
Plasticisers are an organic ester compounds, used as additive in polymer processing. Plasticiser increase the plasticity, flexibility and toughness of finished products through modification in polymer molecules. Generally, plasticiser are grouped into phthalates, epoxy, Trimellitate, aliphatic and polymeric, among others. Trioctyl Trimellitate (TOTM) is a plasticiser categorized under the trimellitates group. Trimellitate plasticisers are generally preferred for automotive interiors and other industrial application wherein the high temperature resistance is required. Trioctyl Trimellitate (TOTM) is a colourless, oily liquid, permanent and non-migrating plasticiser. It is branched monomeric plasticiser, generally, used for vinyl polymer and copolymer resins. Trioctyl Trimellitate are used in application where extreme low volatility is required. Generally, Trioctyl Trimellitate are used in medical, cable and wire, among other applications. Owing to Fogging and non-VOC properties of Trioctyl Trimellitate, it finds application in an automotive and in-house applications. Moreover, Trioctyl Trimellitate provides thermal stability, extraction resistance and sustains colour quality during the manufacturing process. Trioctyl Trimellitate is appeared to be substitute for polyester polymeric plasticizer.
Significant growth of end use industries such as an automotive, electrical and Building & construction, among others, as well as rising demand for PVC encapsulation and insulation materials across the globe that leads to boost demand for plasticisers. Moreover, rising demand for the flexible cables and wires, especially in automotive and building & construction application, helps to drive the demand for Trioctyl Trimellitate market. Rising demand for sheets and films that significantly constitute an increase in demand for plastics materials that further leads to rise in demand for plasticisers market. Moreover, with substantial growth of gaskets market helps to drive the Trioctyl Trimellitate market.
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Apart from this, the abundant availability of phthalates plasticiser and consumer preference towards phthalates, are the major restraining factor for the growth of Trioctyl Trimellitate market. As, over 72% of plasticiser market are accounted by phthalates group plasticisers. Also, high cost compare to other plasticisers and fluctuating raw materials prices that may hamper the growth of Trioctyl Trimellitate market over the forecast period
On the basis of Ester Content, global Trioctyl Trimellitate (TOTM) market is segmented into;
- Below <98%
- 98% – 99%
- Above 99%
On the basis of Application, global Trioctyl Trimellitate (TOTM) market is segmented into;
- Wires & Cables
- Sealing Gaskets
Global Trioctyl Trimellitate market is mainly dominates by the Asia Pacific (APAC) region, especially by China. China being major consumer and producer market of PVC and constitutes around half of global PVC production capacity. Owing to this, there is significant rise in demand for Trioctyl Trimellitate plasticisers. Also, significant growth of an end use industries such as an automotive, electrical, building & construction and fabrication, among others industries which in turn expected to boost the demand for Trioctyl Trimellitate market over the forecast period. North America followed by Europe is the major market for the Trioctyl Trimellitate owing to increasing demand for plastics in various application such as wires, cables, and sheets, among others. Stringent government regulation in Europe and North America over the addition the plasticiser and used of low VOC content compounds in polymer processing helps to propel demand for Trioctyl Trimellitate over the forecast period. In Latin America, rising demand for PVC and Other plastics especially in Brazil and Mexico owing to substantial growth of automotive industry leads to drive the demand for plasticiser over the forecast period. Middle East & Africa region is expected to register slow growth over the forecast periods.
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Examples of some of the market participants in the global Trioctyl Trimellitate (TOTM) market identified across the value chain include
- BASF SE
- OXEA GmbH
- Eastman Chemical Company
- LG Chem Ltd.
- Shandong Kexing Chemical Co. Ltd.
- Tongxiang Chemical Co.Ltd.