Triisobutyl Phosphate Market Forecast and CAGR
According to latest research by Fact.MR., Triisobutyl Phosphate market is set to witness medium to high growth during 2021-2031. Demand for triisobutyl phosphate will witness high growth recovery opportunity in short-term, with positive and sustainable growth outlook in the long-run. Increased demand from construction, and adhesives & sealants industries is anticipated to spur the demand of triisobutyl phosphate in foreseeable future.
What is Driving Demand for Triisobutyl Phosphate?
Improving lifestyles are stimulating the demand from the fashion and apparel industries. The constantly changing fashion trends and rising population, coupled with the high disposable income of consumers, are likely to boost the market demand for casual wear and apparel, driving the demand for triisobutyl phosphate chemicals.
Demand for paper instead of plastic, due to government regulations in various regions, increased by 1.0% per annum in 2011. Printing and sizing papers will account for major growth of the chemicals such as triisobutyl phosphate used in the paper and pulp industry.
There has been increasing demand for chemicals in construction to improve efficiency, strength and impart significant life-cycle benefits to the construction put in place. Rising demand for infrastructure and development across the global is projected to drive the sales of triisobutyl phosphate
Rising Textile demand across the globe to boost Triisobutyl Phosphate Sales
Asia has a comparative advantage in terms of skilled manpower and low cost of production relative to major textile producers. Particularly in the last two years, there has been an increase in the manufacturing capacity of textiles, which has led to lowest cost of production per unit in Asia’s textile industry; this has lent a strong competitive advantage to the country’s textile exporters relative to global key players.
Asia has also witnessed increasing outsourcing over the years as Asian key players are moving up the value chain from being mere converters to vendor partners of global retail giants. In 2019, textile exports witnessed a growth (CAGR) of 6.89 per cent. As Triisobutyl Phosphate fins application in textile processing sector, its demand is accordingly projected to benefit from the given scenario.
Asia Pacific Triisobutyl Phosphate Market Outlook
Asia Pacific is one of the prominent region in terms of consumption of this product and is anticipated to grow at highest rate owing to increasing consumption from end user industries such as construction, textile, and others.
The exponential growth in the demand for textiles in the region is stimulating the market growth of textile chemicals such as triisobutyl phosphate. There is continuous increase in the consumption of textile chemicals which is attributable to the utilization of cotton in the textile industry to manufacture apparels and non-apparel products.
Urbanization growth in the region is expected to be driven by numerous schemes implemented by various governments as they want to decrease the migration of people to metros and other big cities. Also, increased government spending on construction is further expected to push the market. For instance, Indian Government spending has increased and become approximately 1.8x during this fiscal year due to the “Make in India” scheme which aims to improve infrastructure and industrialization. The government’s plan of investing $1 trillion on infrastructure during the 12th Five-Year Plan and ‘Make in India’ will boost the demand for construction chemicals.
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Europe Demand Outlook for Triisobutyl Phosphate
Europe is one of the prominent manufacturer and consumer of rubbers and plastics owing to presence of large number of companies in the region. Moreover, in Europe, the construction sector is witnessing steady growth due to its recovery. Builders & operators are constructing new manufacturing and industrial buildings as well as carrying out renovations and repairs to existing building facilities, which creates more demand for construction materials.
The construction industry in the Europe is anticipated to witness growth in large public infrastructural programs, which will create more opportunities for public-private partnerships to fund new projects. Developing regions are channelizing efforts towards strengthening intra-region trade with Europe. This is expected to further benefit the construction sector in the region and create opportunities for growth of the market.
Who are the Key Manufacturers and Suppliers of Triisobutyl Phosphate?
Some of the leading manufacturers and suppliers include
- BASF SE
- Tokyo Chemical Industry Co. Ltd.
- Connect Chemicals GmbH
- Guizhou Zerophos Chemical Co. Ltd
- Eastman Chemical Company
The market is moderately fragmented and highly competitive. Several major players are opting for inorganic growth strategies to enhance their footprint in the developing countries. Key players are working towards enhancing their manufacturing capacities through expansion of existing processing facilities. Strong customer relationships with distribution channel partners, reinforced through local market presence has been at the forefront among several policies and plans adopted by prominent players.
An Adaptive Approach to Modern-day Research Needs
Triisobutyl Phosphate Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
- Purity ≥ 98%
- Purity < 98%
- Antifoaming Agent
- Wetting Agent
By End Use
- Building & Construction
- Rubber & Plastics
- Pulp & Paper
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia Pacific
- ASEAN Countries
- Rest of South Asia Pacific
- Middle East and Africa
- GCC Countries
- Northern Africa
- South Africa
- Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.