Acetyl Tributyl Citrate Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Global Acetyl Tributyl Citrate Market is segmented By Product type (Technical grade, Pharma grade), By Function (Plasticizer, Emollient, Coatings, Lubricants), By Application (Polymers and Plastics, Personal care, Cosmetics, Pharmaceuticals, Paints and coatings), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Acetyl Tributyl Citrate Market Overview

The Global "Acetyl Tributyl Citrate Market" is expected to grow at a high CAGR during the forecast period (2024-2031). 

Acetyl Tributyl Citrate is a colorless oily liquid used as a plasticizer in the food and beverage packaging industry. Its other applications include personal care, cosmetics, pharmaceuticals and paints and coatings.

Acetyl Tributyl Citrate Market Summary

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Acetyl Tributyl Citrate Market Dynamics

Increasing demand for acetyl tributyl citrate from the food and beverage packaging industries, construction and automotive industries is expected to drive the forecast period. Huge demand for paints and coatings in the construction and automotive industry is a key factor propelling the market. Furthermore, rising applications of acetyl tributyl citrate in the pharmaceuticals industry and cosmetics industry are likely to propel the market in the future.  

However, the growth of the global acetyl tributyl citrate market is impacted by factors such as fluctuating raw material prices and global supply-demand imbalances of raw materials.

Citric acid, a major producer of citrus fruits, is the major ingredient in acetyl tributyl citrate market production. According to the statistics published by t the United States Department of Ae, global orange production for production 2018/19 is forecast to expand 4.2 million metric tons (tons) from the previous year to 51.8 million as favorable weather leads to larger crops Brazil and the United States. China’s production is projected down slightly to 7.2 million on unfavorable weather, resulting in a smaller crop in Jiangxi province. Along with only a small increase in imports, consumption is lower on overall reduced supplies. South Africa and Egypt are the top two suppliers, accounting for 60 percent of imports. Orange production in Florida has been declining for years due to citrus greening, which has decimated groves and increased costs for crop maintenance. However, last year, the industry also suffered from damages caused by Hurricane Irma. The global fresh orange production decreased from 48,773 metric tons in 2014/2015  to 47,077 metric tons in 2015/2016 and increased to 53,838 metric tons in 2016/2017. This figure observed a sharp decline in 2017/2018, decreasing to 47,596 million tons. Due to these trade imbalances, the raw material cost is bound to fluctuate, which might hamper manufacturers' supply chain costs and are expected to pose as a critical factor impeding the market.

Acetyl Tributyl Citrate Application Segment Analysis

Based on the application, the market is segmented as polymers and plastics, personal care, cosmetics, pharmaceuticals, and Theobald Acetyl Tributyl Citrate Market size by polymers was worth USD million in 2018 and is estimated to reach U based on the applications million by 2026, at a high CAGR during the forecast period.

Acetyl tributyl citrate finds its major applications as paints and coatings, and polymers in the building and construction industry and the automotive industry. According to a survey report by the construction intelligence center, the volume of construction industry output grew by 3.1% in 2018 compared to USD 10.6 trillion in 2017.  Moreover, according to Oxford Economics, the volume of construction output will grow by 85% at a global level in 2030. Furthermore, this growth of the global building and construction industry coupled with the increasing application of high-performance fibers is likely to augment the market's growth in the future.

Moreover, according to the statistics by the World Bank, the World population increased from 7.46 billion in 2016 to 7.55 billion in 2017, reaching 7.63 billion in 2017. A considerable shift in the lifestyle and diet of consumers in emerging economies has led to an increase in demand for packaged foods. Hectic lifestyles in urbanized areas have led to an increase in demand for healthy, convenient food prepared with minimal effort. Thus, increasing packaged and processed foods are witnessing robust sales and acetyl tributyl citrate as a plasticizer is a major ingredient used in the food and beverage packaging industry. This is expected to drive the market at a healthy rate in the forecast period.

Acetyl Tributyl Citrate Market Geographical Share

The Asia Pacific Acetyl Tributyl Citrate market size was worth USD million in 2018 and is estimated to reach USD million by 2026, at a high CAGR during the forecast period.

The Asia Pacific region is expected to dominate the global acetyl tributyl market in the forecast period due to the rising demand for food and beverage packing products and rising cosmetic products in sucdueChina and Japan. Increasing per capita income and spending in India and China has translated into growing demand for the acetyl tributyl citrate market. According to a survey report by Loreal, a global cosmetic brand, the APAC region currently holds ~32%, the largest market share of the global beauty and personal care marketplace.

Vendors in the market are sensitive to local trends and competition. For example, Indonesia, representing the largest Muslim population globally, passed a regulation in 2015 that by 2020 all cosmetics products will have to be labeled as Halal. Whereas in China and India, there is a strong interest in local ingredients and the properties that acetyl tributyl citrate and other products can bring to personal care products and cosmetics. Asian consumers are also somewhat discerning in terms of packaging. Therefore, with the advent of natural and organic personal care products among consumers in the region, the acetyl tributyl citrate market is expected to grow significantly during the forecast period.

Furthermore, according to the food and agricultural organization, Chinsignificantlyglobal citrus fruits production and is also dominating in the global citric acid production, which is a key ingredient in the production of the acetyl tributyl citrate. Owing to these factors, the Asia Pacific tributyl citrate market is expected to witness healthy growth rates in the forecast period.

Acetyl Tributyl Citrate Companies and Competitive Landscape

The Acetyl Tributyl Citrate market is competitive with existing players in the market. Some of the major players include Mitsubishi Chemical Corporation, Vertellus LLC, KLJ Group, Hefei TNJ Chemical Industry Co Ltd, ASAHI KASEI, Dongying Wei Aien Chemical Co, Shandong Kexing Chemical Co Ltd, Shanghai Jinyue Chemical Co Ltd, Wuhan Yitai Technology Co Ltd, Shanghai Miner Chemical Technology.

New product launches, expansion of facilities, mergers and acquisitions, and strategic partnerships are vital strategies adopted by most companies to contribute to their growth and improve their market growth rate.

For instance, in June, ertellus, a manufacturer of specompany's growth in industrial technologies worldwide, introduces ZeMac copolymer technology to the coating and adhesive marketplace. This innovative technology is an excellent fit for many different adhesive and coating applications demanding targeted performance, strength requirements and value.