Trimesic Acid Market

Trimesic Acid Market Outlook (2023-2033)

The global trimesic acid market is set to estimate a valuation of US$ 48.1 million in 2023 and it is anticipated to grow at a CAGR of 4.3% to reach US$ 73.3 million by the end of 2033.

Flourishing demand for trimesic acid across the booming pharmaceutical industry to creates lucrative opportunities for the trimesic acid market’s growth.

Report Attributes	Details
Market Size (2022A)	US$ 46.8 Million
Estimated Market Value (2023E)	US$ 48.1 Million
Forecasted Market Value (2033F)	US$ 73.3 Million
Global Market Growth Rate (2023-2033)	4.3%
North America Market Share (2023)	~22.3%
East Asia Market Growth Rate (2023-2033)	~4.7%
Europe Market Growth Rate (2023-2033)	~4.2%
Key Companies Profiled	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 WiseChem International Co., Ltd

Sales Analysis: Historic to Futuristic

Aromatic carboxylic acids (ACAs) are a diverse group of chemicals produced or used as raw materials in a variety of sectors, including paper mills, food, pharmaceuticals, cosmetics, and printing and dyeing. Some aromatic carboxylic acids are benzoic acid, isophthalic acid, o-phthalic acid, terephthalic acid, trimellitic acid, hemimellitic acid, trimesic acid, 2,6-naphthalic acid, and others.

Trimesic acid can be synthesized by utilizing Friedel – Crafts reaction method in which xylene or toluene is methylated with chloromethane in the presence of aluminum chloride. Additionally, it can also be produced by disproportioning xylene in liquid form in the presence of aluminum chloride. When using aluminum silicate as a catalyst, these reactions can be conducted in the gas phase at high temperatures.

• Short Term (2023-2026): Burgeoning demand for trimesic acid as adhesives and intermediate in the production of various products will drive the trimesic acid market growth
• Medium Term (2026-2029): Asia Pacific and Europe are anticipated to witness high trimesic acid demand on the back of growing of the pharmaceutical and chemical industry.
• Long Term (2029-2033): Increasing popularity of metal-organic framework, and the growing plastic, paints & coatings industry to drive trimesic acid demand in the long term.

Over the 2018-2022 historical period, the global trimesic acid market registered a CAGR of 2.7%, according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 4.3% CAGR between 2023 and 2033.

Market share analysis of trimesic acid based on product type and region is provided in a nutshell in the above image. Under the function segment, the Adhesives segment dominates with a 58.1% market share in 2023.

“Use of Trimesic Acid in Metal-Organic Framework Synthesis to bolster sales”

The demand for sustainable energy sources is anticipated to increase steadily over the ensuing decades in all sectors of energy consumption, including transportation, defense, consumer and portable electronics, and specialized applications.

MOFs are an excellent choice for gas storage, adsorption, and separation applications because of their porous nature. Hydrogen gas and methane gas are two of the leading contenders as a source of green energy. Hydrogen is undoubtedly the cleaner (greener) choice, but its use has been constrained up to this date due to the challenges involved in its production, safe storage, and transportation in large quantities. Since water is the only combustion by-product of hydrogen, it has a high energy production potential with minimal environmental impact.

Further, Metal-organic frameworks (MOFs) are synthesized using trimesic acid and can also be employed as organic linkers which further can be utilized in sensors. MOFs can be manipulated such that they respond only to specific molecules and their active sites on a larger surface area and thus has a great potential for highly sensitive sensor applications.

“Factors Hampering the Market Growth”

Though trimesic acid is used as an intermediate or as a linking agent in the manufacture of pharmaceutical products, rocket fuel, plasticizers, and others, it is required in small amounts. Even after wide application, the product is utilized in less quantity and thus the market is very consolidated with only a few manufacturers.

Short-term exposure can cause irritation in the skin and eyes and nose and respiratory system if inhaled. Long-term exposure to the respiratory system can cause airway illness, which can lead to breathing difficulties and other systemic issues. Particulates smaller than 0.5 microns that penetrate and stay in the lung can lead to pneumoconiosis, which can alter lung function after prolonged exposure to high dust concentrations.

These factors are anticipated to hamper the market growth of trimesic acid negatively over the forecast period.

Country-wise Insights

What is the Market Scenario for Trimesic Acid in the US?

The demand for epoxy resins is increasing in the US due to the rise in sustainable chemical demand. Further, the use of epoxy resin in solar cells and the manufacturing of automotive parts drive epoxy resin demand. Trimesic acid is required during the production of epoxy-curing agents that are used to cure epoxy resins giving them exceptional properties.

Trimesic acid is also used as a plasticizer to make the material flexible, soft, and more elastic. The growing plasticizer market in the US will boost the demand for trimesic in the country.

The United States trimesic will expand at a CAGR of 3.9% over the projected period.

Why is China Trimesic Acid Market Expected to Be Highly Lucrative?

China has around 4,000 pharmaceutical players which makes China among the largest exporters of pharmaceutical products. China is a manufacturing hub for a wide range of trimesic acid end-use sectors, which is encouraging the growth of the market across China.

The trimesic acid manufacturers have moved their manufacturing bases to China as a result of the cheap labor costs and the abundance of raw materials in China. Due to such favorable factors, China’s market for trimesic acid is expected to register a CAGR of 4.9% over the forecast period.

Category-wise Insights

Why is Trimesic Acid with a Purity of more than 98% dominating the market?

Based on purity, the industrial purity, >98% segment accounted for the largest share of the trimesic acid market in 2022 and it is expected that the accelerated use in industries such as pharmaceuticals, plastic, and chemicals will increase the sales of the trimesic acid market in the projected period.

Owing to the above-mentioned factors, the demand for trimesic acid with a purity of >98% is anticipated to be valued at US$ 31.7 Mn in 2023 and is expected to expand at a CAGR of 4.2% in the forecast period.

Will Market Growth Be Led by the Growing Pharmaceutical Industry?

Trimesic acid is known to have antiviral properties which are exploited by pharmaceutical manufacturers in the manufacturing process of various products. The compound is also used as a coformer for the cocrystal manufacturing process.

Cocrystals are two or more compounds in which one compound is an API. They are gaining popularity in the pharmaceutical industry as cocrystallization improves the physiochemical properties of the drug and the drug’s bioavailability, stability, flowability, and other mechanical properties without changing the pharmacological properties of the API.

Owing to the above-mentioned factors, the use of trimesic acid use in the pharmaceutical industry is expected to expand at a CAGR of 4.9% in the forecast period to reach a valuation of US$ 29.0 Mn by 2032.

Competitive Landscape

Prominent trimesic acid manufacturers are 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.

The world’s leading manufacturers of trimesic acid are focusing on increasing their production capacity. Key players in the market are focusing on partnering with various end-use industries to sell their products directly to them. Further, capacity expansion and expanding global footprints by collaboration or acquisition drive the market's growth and provide lucrative opportunities to manufacturers.

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

Segmentation of Trimesic Acid Industry Research

• By Purity :

  • <98%
  • >98%

• 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