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2,3,6-Trimethylphenol Market

2,3,6-Trimethylphenol Market Analysis, By Function (Intermediates, Perfuming Agents), By Application (Vitamin E, Cosmetics, Plastics, Pharmaceuticals, Pesticides) - Global Market Insights 2022 to 2032

Analysis of 2,3,6-Trimethylphenol market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

2,3,6-Trimethylphenol Market Outlook (2022-2032)

The global 2, 3, 6-Trimethylphenol market was valued at US$ 207 million in 2021, and owing to enormous use in the cosmetics industry, it is predicted to reach US$ 306.7 million by the end of 2032.

Demand for 2, 3, 6-trimethylphenol is primarily driven by its use in cosmetics and pharmaceuticals. It is used as a chemical intermediate for the production of synthetic vitamin E and also as a perfuming agent in the cosmetics industry.

Report Attributes

Details

2,3,6-Trimethylphenol Market Size (2021A)

US$ 207 Million

Estimated Market Value (2022E)

US$ 214 Million

Forecasted Market Value (2032F)

US$ 306.7 Million

Global Market Growth Rate (2022-2032)

3.6% CAGR

North America Market Share (2021)

~26.8%

East Asia Market Growth Rate (2022-2032)

~3.6% CAGR

United States Market Growth Rate (2022-2032)

~3.4% CAGR

Market Share of Top 5 Companies

~40%

Key Companies Profiled

  • DSM
  • Deepak Novochem Technologies Limited
  • Hangzhou ZeErRui Chemical Co., Ltd
  • Honshu Chemical Industry Co., Ltd
  • MITSUBISHI GAS CHEMICAL COMPANY, INC.
  • Nanjing Datang Chemical Co., Ltd.
  • Penta Manufacturing Company
  • SI Group
  • Synerzine, Inc.

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Market Dynamics Analysis in Projected Timeframe

The use of 2,3,6-trimethylphenol has extensively increased for the production of vitamin E. The demand for vitamin E is predominantly from the healthcare sector where it is used as a supplement to boost the immune system and also to improve cognitive health. Vitamin E is one of the major components in cosmetics formulations used to improve skin texture. Given vitamin E’s numerous benefits, the demand for intermediate 2,3,6-trimethylphenol is anticipated to increase over the coming years.

Moreover, 2,3,6-trimethylphenols are also used in various chemical formulations for the production of packaging material in the plastics industry. During PPO resin production, 2,3,6-trimethylphenol is used in 5-10% copolymer mixtures with other phenols. However, the transitional shift from conventional methods to this upgraded methodology is still due in the market.

  • Short Term (2022-2025): Increasing use of 2,3,6-trimethylphenol in vitamin E production, especially in the healthcare sector, will drive market expansion.
  • Medium Term (2025-2028): East Asia is already experiencing inflated growth in terms of consumption of 2,3,6-trimethylphenol, and is anticipated to witness escalated growth during the projected timespan.
  • Long Term (2028-2032): Rapid rise in the use of 2,3,6-trimethylphenol in the production of PPO resins, which are already being utilized in many chemical formulations, will further drive the market.

The 2,3,6-trimethylphenol market expanded at a CAGR of 2.7% during the historical period (2017-2021) and is all set to escalate at 3.6% CAGR from 2022 to 2032, reports Fact.MR, a market research and competitive intelligence service provider.

2,3,6-Trimethylphenol market forecast by Fact.MR

Above image illustrates market overview of 2,3,6-trimethylphenol based on application and region. Under the application segment, vitamin E dominates the market with 89.1% share in 2022.

2,3,6-Trimethylphenol Market

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Escalating Vitamin E Demand from Healthcare Sector to Expand 2,3,6 TMP Market

2,3,6 TMP is substantially used as an intermediate to manufacture 2,3,5 TMHQ, which is a precursor for the synthesis of vitamin E. Vitamin E consumption has been advised by health professionals to reduce damaging oxidants from the body.

Patients suffering from ataxia, a genetic movement disorder, are provided with vitamin E supplements as the disorder creates vitamin E deficiency in the body. Moreover, blood disorder patients (Beta-Thalassemia) are suggested to have vitamin E orally to enhance the level of protein in their blood.

Furthermore, it is said that people consuming vitamin E in a balanced diet or through oral administration have a low risk of Parkinson’s disease. Women with PMS (Post-menstrual syndrome) are suggested to consume vitamin E to reduce depression and anxiety. Other medical applications such as dysmenorrhea, glomerulosclerosis, and granuloma annulare have created a space for the vitamin E market to expand.

Thus, growing vitamin E demand is likely to push the 2,3,6 TMP market in parallel.

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Myriad Applications to Rebound 2,3,6 TMP Demand

Apart from 2,3,6 TMP’s application in manufacturing vitamin E, there are myriad applications such as cosmetics, pharmaceuticals, etc., to balance the 2,3,6 trade fluctuations yet to be caused by Vitamin E owing to technological upgradations. The market is set to rebound to its normal form with these 2,3,6 TMP emerging applications in cosmetics and pharmaceuticals.

The application of 2,3,6 TMP is set to grow at a moderate Y-O-Y rate for the manufacturing of antioxidants owing to increasing health-conscious consumers, ultimately flourishing 2,3,6 TMP requisite from the pharmaceutical sector.

2,3,6 TMP is also used as an intermediate to manufacture cosmetics as it enhances the antioxidant property of cosmetics. Moreover, 2,3,6 TMP is used as a perfuming and flavouring agent, thus creating an opportunity for 2,3,6 TMP manufacturers to diversify towards niche applications

Surging Demand for TMP from PPO Industry Significantly Benefitting Market Players

TMP is used to manufacture poly phenlylene ether or polyphenylene oxide. TMP is blended with styrene polymer and oxidized to PPO polymer. Polyphenylene oxide is not only applied in electrical components but also in consumer goods such as television boards, washing machine parts, and automobile parts.

Around 8% of the global 2,3,6-TMP market share is held by PPO plastics and is expected to grow 1.3X over the forecast period. Properties such as low moisture absorption and high impact strength are provided by 2,3,6 trimethylphenol to PPO, thus enhancing its application in structural components and electrical housing.

Companies utilizing 2,3,6 TMP to produce PPO are Japan Synthetic Rubber Co Ltd, GE plastics (now SABIC), Asahi Kasei, and others. TMP is also offered to TMHQ manufacturers, which is then directly sold to vitamin E manufacturers.

Country-wise Insights

East Asia’s Dominance in 2,3,6-Trimethylphenol Utilization

East Asia and South Asia & Oceania together account for 50% share of the global 2,3,6-trimethylphenol market. In East Asia, China accounts for the highest consumption of TMP owing to location preference. China has been considered a production cluster and can leverage its solid supply chain management to capture a major share of the market.

In addition, South Korea is a great marketplace for the cosmetics industry. Most of the intermediates used in cosmetic formulations are synthesized in the country. Thus, with the increasing consumption of 2,3,6-trimethylphenol in cosmetic formulations, the market is expected to expand at a CAGR of 3.9% in South Korea.

Demand for 2,3,6-Trimethylphenol to Be Moderate in Europe

The 2,3,6-trimethylphenol market in Europe is estimated to be valued at US$ 43.8 million in 2022 and progress at a CAGR of 3.9% through 2032.

The demand growth for TMP is mainly driven by its use in the production of resins, which are further used for the formation of PPO polymers used in the packaging industry. This blending provides a unique property to plastics by offering low absorption and high Impact strength.

Category-wise Insights

Skyrocketing Demand for TMP from Healthcare & Cosmetics Sectors

2,3,6-trimethylphenol is the major precursor for the production of vitamin E used in supplement production. With increasing attention towards health, the consumption of supplements has increased to boost the overall immune system of the body.

According to health professionals, the consumption of supplements is necessary for the overall functioning of the body. With the increasing pollution and quality of products being consumed, it is high time we supplement our food with external sources of macro & micronutrients.

In view of the benefits of vitamin E, consumers have increased the OTC application of vitamin E in their DIY remedies. It encompasses potential ingredients useful in maintaining good skin.

All these factors contribute to the increased consumption of 2,3,6-trimethylphenol for the production of vitamin E.

Increased Consumption of TMP in Plastic Production

One of the additional uses of TMP is in the production of PPO resins. As the plastic industry is already experiencing a lot of transitional shifts from fossil-based to bio-based substrates, the usage of TMP in the production of PPO resins is still under scrutiny. Though it offers many enhanced properties to existing PPO resins, production methods still need to be examined for cost-effectiveness.

The usage of TMP in plastics is set to grow in the future at a CAGR of 2.3% through 2032.

Key Strategies Followed by Manufacturers

Prominent 2,3,6-trimethylphenol manufacturers are DSM, Deepak Novochem Technologies Limited, Hangzhou ZeErRui Chemical Co., Ltd, Honshu Chemical Industry Co., Ltd, MITSUBISHI GAS CHEMICAL COMPANY, INC., Nanjing Datang Chemical Co., Ltd, Penta Manufacturing Company, SI Group, and Synerzine.

Leading producers of 2,3,6-trimethylphenol products are employing methodologies for providing cost-effective solutions to end users. Key suppliers are focused on increasing their production capacity to meet the increasing demand. Moreover, manufacturers are trying to establish their market position by adopting organic and inorganic strategies for future growth.

  • Key manufacturers are switching from the traditional m-cresol approach to alternative production pathways such as P-xylene and isoflurone.
  • DSM, one of the leading manufacturers of vitamin E, acclaims to move towards sustainability and started providing vitamin E with the lowest carbon footprint in the industry.

Fact.MR has provided detailed information about the price points of key manufacturers of 2,3,6-trimethylphenol positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of 2,3,6-Trimethylphenol Industry Research

  • By Function :

    • Intermediates
    • Perfuming Agents
  • By Application :

    • Vitamin E
    • Cosmetics
    • Plastics
    • Pharmaceuticals & Pesticides
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

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Intermediates account for 98.8% share of global consumption and the segment is expected to expand at 3.6% CAGR through 2032.

Production of vitamin E holds the highest market share in the global TMP market and is valued at US$ 190.8 million in 2022.

North America accounts for a share of 26.7% of the global market.

In East Asia, China accounts for high consumption of 2,3,6-TMP and was valued at US$ 66 million in 2021.

The global 2,3,6-trimethylphenolmarket was valued at US$ 207 million in 2021.

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