The global trimesic acid market is projected to be valued at USD 48.1 million in 2023 and is expected to grow at a CAGR of 4.3%, reaching USD 73.3 million by 2033.
The growing demand for trimesic acid in the rapidly expanding pharmaceutical industry is creating significant growth opportunities for the market.
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Country-wise Insights
The demand for epoxy resins in the US is increasing, driven by the growing need for sustainable chemicals. Additionally, the use of epoxy resins in solar cells and the manufacturing of automotive parts is further fueling demand. Trimesic acid plays a crucial role in the production of epoxy-curing agents, which are used to cure epoxy resins, enhancing their exceptional properties.
Furthermore, trimesic acid is utilized as a plasticizer to make materials more flexible, soft, and elastic. The expanding plasticizer market in the US is expected to boost the demand for trimesic acid in the country.
The US trimesic acid market is projected to grow at a CAGR of 3.9% during the forecast period.
Category-wise Insights
In 2022, the industrial purity segment, specifically trimesic acid with purity >98%, held the largest share of the market. The increased adoption of this grade in industries such as pharmaceuticals, plastics, and chemicals is expected to drive further growth in the trimesic acid market during the forecast period.
As a result of these factors, the demand for >98% purity trimesic acid is projected to be valued at USD 31.7 million in 2023 and is anticipated to grow at a CAGR of 4.2% over the forecast period.
Competitive Landscape
Prominent trimesic acid manufacturers include Alfa Chemistry, Apollo Scientific Ltd, Cayman Chemical Company, Cymit Química S.L., Merck KGaA, Otto Chemie Pvt. Ltd, SRL Pvt. Ltd., TCI Chemicals (India) Pvt. Ltd., Thermo Fisher Scientific, and WiseChem International Co., Ltd.
Leading manufacturers in the trimesic acid market are focusing on expanding their production capacity. Key players are also partnering with various end-use industries to directly supply their products. Additionally, efforts to expand capacity and grow global footprints through collaborations or acquisitions are fueling market growth and presenting lucrative opportunities for manufacturers.
Segmentation of Trimesic Acid Industry Research
- By Purity:
- By Function:
- Adhesive
- Chemical Intermediates
- Others
- By End-Use Industry:
- Pharmaceutical
- Chemical
- Others
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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