Vitamin E Applications to Capture Large Chunk in the 2,3,6-Trimethylphenol market
Global 2,3,6 TMP market is forecast to witness modest growth of around 4% over the forecast period of 2020-2030.
Of all the bundled applications of 2,3,6 Trimethylphenol, Vitamin E accounted for a whopping 90% of the market share in 2019. 2,3,6 Trimethylphenol (2,3,6–TMP) is used as an intermediate for the production of 2,3,5 Trimethylhydroquinone (2,3,5 –TMHQ), which then reacts with isophytol for the production of Vitamin E.
Vitamin E is an essential fat soluble nutrient and its diet is suggested by health professionals to reduce damaging oxidants from the body. Thus increase in demand for Vitamin E is boosting 2,3,6 - Trimethylphenol demand.
2,3,6 Trimethylphenol is also used for manufacturing pesticide intermediates. Factors such as increase in the animal feed application of Vitamin E and an uptick in the number of health conscious consumers are boosting the demand for Vitamin E, thus, accelerating the growth of the 2,3,6 Trimethylphenol market.
Vitamin E Plant Upgradations to Limit 2,3,6 TMP Market Growth
Manufacturers such as Nent, Xinhecheng etc. are looking for plant upgradation, owing to the huge variation in vitamin E production cost amongst the market stakeholders.
Nent uses Paraxylene and farnesene methods to directly manufacture Vitamin E, thus subsiding the 2,3,6 TMP as a process intermediate, while Nanjing Datang, Xibo Tailzite and other 2,3,6-TMP manufacturers are leaning towards other technologies to produce 2,3,5 TMHQ, thus contracting the market.
Thus, these newer and less capital intensive methods available in Vitamin E, will have negative impact on 2,3,6 TMP Market
East Asia to Remain on Top, while Europe and North America are Poised to showcase moderate growth
From the regional perspective, East Asia and South Asia and Oceania together account for more than 50% of the market share in 2019. 2,3,6 Trimethylphenol production cluster is positioned in East Asia.
China is poised to be a strategic location for the production of 2,3,6 TMP as it provides enormous opportunities owing to the presence of Vitamin E production clusters and solid supply chain management.
These factors are attracting foreign manufacturers. For instance, DSM has acquired Nent technologies’ Vitamin E business which also includes 2,3,6 TMP.
Economies of scale and scope both favour the production of 2,3,6 Trimethylphenol production in China. Moreover, Chinese 2,3,6 Trimethylphenol market has seen ups and downs in the past four years, as the target market is proportionately affected by the Vitamin E demand.
Recurring shortage of raw-material due to frequent force majeure of m-cresol production by Lanxess, has impacted the 2,3,6 TMP production across the globe.. Furthermore, Europe and North America have witnessed moderate growth with demand mainly from Polyphenylene ether (PPE) or Polyphenylene Oxide (PPO).
Lower Production Cost is Grabbing Attention of Key Stake Holders
Global 2,3,6 Trimethylphenol (2,3,6 - TMP) market is highly consolidated in nature. Top three players in market account for over 40% of revenue share at the global level.
Prominent players with established market presence in 2,3,6 Trimethylphenol (2,3,6 - TMP) market are
- DSM & Nenter
- SI group
- Honshu Chemical Industry Co. Ltd
- Deepak Novochem Technologies Limited
- Rugao Zhongchang Chemicals co. Ltd.
- Hangzhou ZeErRui Chemical Co. Ltd.
- Nanjing Datang Chemical Co.Ltd.
- Zibo Tailitze Chemical Co., Ltd
Manufacturers of 2,3,6- Trimethylphenol market are focused on reducing the cost of 2,3,6 TMP production cost on priority. In addition, players in the market have adopted lateral integration as a prime strategy.
Key stakeholder DSM & Nent follow captive consumption of 2,3,6 Trimethylphenol for its Vitamin E production facilities.
Furthermore, Vitamin E manufacturer BASF is out of the scope and competition of 2,3,6 TMP as it doesn’t follow the conventional production protocol adopted by the major companies.
As several key companies are adopting lateral integration and different production routes such as P-Xylene and Isoflurone route over conventional m-cresol method, this allows them to shorten the value chain and to lower the production cost at the same time.
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2,3,6-Trimethylphenol Market Segmentation
Fact.MR has studied the 2,3,6-Trimethylphenol market with detailed segmentation on the basis function, application and key regions.
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