2,3,6- Trimethylphenol Market to Surpass US$ 190 Mn, on Back of Low Production Cost in East Asia, Projects Fact.MR
Published : 16 Mar 2020 Industry: Chemical & Materials
2,3,6-TMP market is driven by China as 80% of the 2,3,6-TMP and Vitamin E production cluster is positioned in China. Increasing Vitamin E production in the country is set to bolster the 2,3,6 TMP demand reveals Fact.MR in a recently published report on global 2,3,6 Trimethylphenol market. As per the report, 2,3,6- Trimethylphenol market is forecast to surpass more than US$ 190 Mn in 2020 and is anticipated to grow at a modest CAGR of ~3% throughout the forecast period. Key application of 2,3,6- TMP lies as a starting material for the production of Vitamin E. Thus, expanding Vitamin E production all around the world portrays an image of increasing demand for 2,3,6 TMP. Moreover 2,3,6 TMP is also used as co-monomer for polyphenylene Oxide and pesticide intermediate synthesis, which is set to give impetus to the market.
Key takeaways of Global 2,3,6- Trimethylphenol (2,3,6 TMP) Market
- Global 2,3,6- Trimethylphenol (2,3,6-TMP) market is anticipated to create a value opportunity of around US$ 190 Mn during the forecast period, adding 1.5X more value as compared to 2020
- Market consolidation is set to affect the 2,3,6 TMP market by the end of 2030, but the intermediate function accounts for more than 98% of the market. Intermediate function is projected to grow at just over 3% CAGR, as it is a key agent for the production of Vitamin E. It is set to grow at a modest growth rate in Asia.
- Plastics are set to grow at a rate of 3% in the forecast period of 2020-2030 and is set to lose ~420 BPS over the period of 2020-2030
- East Asia holds the leading share in the 2,3,6 TMP market and accounts for 15,000 tons of 2,3,6 TMP production to cater to the high demand from Vitamin E producers in China
- Europe and North American markets are growing at a moderate pace, owing to the limited presence of of 2,3,6- Trimethylphenol producers
- Global 2,3,6 TMP market is highly consolidated in nature with Nent technologies, DSM and Honshu chemicals amongst the top contenders in global market
“2,3,6-Trimethylphenol plays a crucial role in Vitamin E Production. Consolidation of the market due to adoption of different technologies for 2,3,5-Trimethylhydroquinone production is set to squeeze the 2,3,6- Trimethylphenol market” says a Fact.MR analyst.
Manufacturers to Prioritize Stabilized Production Cost, Captive Consumption Remains on the Top
2,3,6- TMP market stakeholders such as Nent technologies & DSM are keenly looking for captive utilization of 2,3,6- Trimethylphenol for Vitamin E production. Stakeholders are also trying to optimize their production facilities to lower the production cost due to increasing competition among players to serve consumers with highest possible quality and lowest price. Companies such DSM have strengthened their footprint in China. Once, DSM and Nent initiate the production, Nent would cease supply of 2,3,6- Trimethylphenol to the local market.
More Valuable Insights on 2,3,6- Trimethylphenol Market:
Fact.MR, in its new offering, presents an unbiased analysis of the global 2,3,6- Trimethylphenol(2,3,6-TMP) market, presenting historical demand data (2015-2020) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the 2,3,6- Trimethylphenol(2,3,6-TMP) market on the basis of function (intermediate, perfuming agent), and application (Vitamin E, cosmetics, plastics, pharmaceuticals/pesticides) across six major regions.
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the Chemicals & Materials team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the Chemicals & Materials industry lucidly in 50+ countries for over a decade. The chemicals & materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations.