Plasticizer product type segment is projected to lead the triacetin market till 2022

February 25 22:53 2020
Plasticizer product type segment is projected to lead the triacetin market till 2022

Browse 118 tables and 39 figures spread through 128 pages and in-depth TOC on “Triacetin Market”
Triacetin Market by Grade (Tobacco, Food, Industrial), Product Type (Plasticizer, Solvent, Humectant), End Use Industry (Tobacco, Food & Beverage, Pharmaceutical, Cosmetic, Chemical), and Region

The triacetin market is projected to reach USD 309.9 million by 2022, at a CAGR of 4.8% between 2017 and 2022. A key factor contributing to the growth of the triacetin market is the increased demand for triacetin from the tobacco, food & beverage, pharmaceutical, and cosmetic industries.

In terms of value, the tobacco grade segment of the triacetin market is projected to grow at the highest CAGR during the forecast period. According to a study by The Tobacco Atlas, 5.8 trillion cigarettes were smoked globally in 2014. The tobacco grade triacetin is used as a plasticizer in cigarette filters rods. The growing consumption of cigarettes around the globe is driving the growth of the tobacco grade segment.

Request Report Sample At https://www.marketsandmarkets.com/requestsampleNew.asp?id=1433253

Among end-use industries, the tobacco segment is projected to lead the triacetin market during the forecast period, in terms of value. According to a study, the market size of the tobacco industry is around USD 800 billion. The tobacco industry is an important contributor to the economies of many countries. The growth of the tobacco industry across the globe has boosted the consumption of triacetin. According to British American Tobacco, there are an estimated one billion adult smokers worldwide. Triacetin is used in many applications as a plasticizer, including in cellulose acetate filters or cigarette filter rods. Chewing gum is another application which majorly uses triacetin as a plasticizer. Based on product type, the plasticizer segment is projected to lead the triacetin market during the forecast period, in terms of value.

In terms of value, the Asia Pacific triacetin market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific triacetin market can be attributed to the region’s growing economies, such as China, India, Japan, Australia, and South Korea, and increasing disposable income. Increasing demand from end-use industries has also fueled the growth of the triacetin market in Asia Pacific.

Download PDF Brochure At https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1433253

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Sanjay Gupta
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: India
Website: https://www.marketsandmarkets.com/Market-Reports/triacetin-market-1433253.html