Triallyl Isocyanurate Market - Forecast(2021 - 2026)

 

Triallyl Isocyanurate Market Overview

Triallyl Isocyanurate Market is forecast to reach $182 million by 2025, after growing at a CAGR of 7.3% during 2020-2025. Triallyl isocyanurate (TAIC) has an excellent heat resistance and chemical resistance properties and is used as a cross-linking agent in extensive applications such as electronic materials, liquid crystals, semiconductors, and solar cells. Globally, the development of efficient and advanced technology, rising demand from the industrial sector, flourishing automotive industry, and advantageous properties of triallyl isocyanurate such as heat resistance, mechanical characteristics, hydrolytic resistance, and weather resistance are the prime growth drivers of the triallyl isocyanurate industry in the forecast era. 


Triallyl Isocyanurate Market Report Coverage

The report: “Triallyl Isocyanurate Market Report – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Triallyl Isocyanurate Industry.
By Application: Automotive, Plastic & Rubber, Electronics, Paints and Coatings, Industrial Use, Aerospace and Defense, and Others
By Geography: North America, Asia Pacific, Europe, Middle East & Africa, South America and Others


Key Takeaways

  • An increase in the adoption of triallyl isocyanurate for application in new industrial verticals and emerging economies are the driving force which will accelerate the Triallyl Isocyanurate industry in the forecast era.
  • Since triallyl isocyanurate is free from metal corrosion due to impurities in it, it can therefore be used as a sealing material for printed circuit boards in electronics industry.
  • Effect of COVID-19 has a direct impact on the chemical industry, impacting supply of raw materials, upsetting the value chain of the triggering commodity inflation risks. The disruption has led to a retardation of remote work and will affect the growth of triallyl Isocyanurate Market in the forecast period.


Triallyl Isocyanurate Market Segment Analysis - By Application 

Plastic and rubber sector held the largest share in the triallyl isocyanurate market in 2019 and is projected to grow at a CAGR of 6.8% during the forecast period 2020-2025. Triallyl isocyanurate is used as a cross-linking agent for rubber products and plastics products. Isocyanurates and their derivatives are specialty resins primarily used in elastomers and plastics products as co reactants for other resins. It is regulated by the Food and Drug Administration's Code of Federal Regulations as triallyl isocyanurate is used as a plastic cross-linking agent that is used in food packaging. Triallyl isocyanurate also acts as a flame retardant in vinyl cured rubber and plastic products. Application areas are the manufacture of rubber and plastic goods in industrial environments. Additionally, growth in the footwear industry across the globe is anticipated to boost the market. For the manufacturing of soles and for use as an elastomer in the raw materials of the footwear synthetic rubbers manufactured using triallyl isocyanurate are used. 


Triallyl Isocyanurate Market Segment Analysis - By Geography 

Asia Pacific held the largest share with 42% in the triallyl isocyanurate market in 2019. Growth for synthetic rubbers from the footwear and automotive industries is expected to boost the demand for triallyl isocyanurate in the Asia Pacific region. Countries in this region such as China, India, Japan, South Korea, and Malaysia are witnessing significant increase in the use of triallyl isocyanurate in rubber industry leading to an increase in the automotive applications. According to the International Trade Administration, China is the largest automotive market in the world, with the Chinese government predicting 30 million vehicles to be produced by 2020. Also, according to the India Brand Equity Foundation, India became the fourth largest car market in 2018, with sales increasing 8.3 percent year-on-year to 3.99 million units. Thus, with the growth of automobile industries in the Asia-Pacific region the market for triallyl isocyanurate is estimated to boost in the forecast period.

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