Triethyl
citrate is an ester of citric acid synthesized by reacting citric
acid with ethyl alcohol i.e. esterification. The compound is also
present naturally in wine and cherries. The applications of triethyl
citrate include plasticizers, food additive, lubricants, plastics and
pharmaceutical coatings.
Growing
global demand for plastics and PVC is expected to drive the market
for triethyl
citrate. it is prominently used in the production of plastics and
PVC. The compound stabilizes the final product chemically. Triethyl
citrate is also used as polymer modifier for PVC, vinyl, polyolefins,
rubber and polystyrenics. Growing demand for these polymers is
expected to drive the market for triethyl citrate. In addition,
triethyl citrate forms indispensable part of lubricants in various
industrial processes and automotives. Growing automotive industry in
developing region is expected to drive the triethyl citrate market
growth. Rising disposable income and changing lifestyle of consumer
groups in developing country is driving automotive industry. Further,
industrialization in China is contributing significantly to
industrial development, which in turn driving triethyl citrate market
as lubricants. In addition, growing demand for triethyl citrate from
surfactants industry is expected to boost the market growth. It is
also used in food additives to avoid foam formation. It acts as
solubulizer for essential oils hence, it finds application in
supplement coatings and pharmaceutical coatings.
However,
environmental regulations regarding triethyl citrate and raw
materials price volatility are expected to hamper the market growth.
The compound can be absorbed into body by ingestion and inhalation.
Triethyl citrate is acutely toxic to aquatic animals. Hence there are
regulations regarding its production and transportation in developing
countries. Growing demand for triethyl citrate from various
applications in South America and Middle East is expected to provide
immense opportunities for the players in the market.
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Europe
emerged as the largest market for triethyl citrate in terms of volume
and revenue. Growing demand for lubricants and polymer modifiers are
expected to drive the market for triethyl citrate in the region.
Surfactants industry is further adding to the demand of triethyl
citrate in Europe. Environmental regulations and import issues are
expected to hamper the growth of triethyl citrate market in this
region. Due to impact of these restraining factors the demand in
Europe is expected to grow at moderate pace in the near future.
Central and Eastern Europe is expected to grow at considerable pace
due to growth in plastics industry. Europe was followed by North
America, where United States contributes significantly to consumption
of triethyl citrate. North America market is matured as compared to
other regions. Asia Pacific held low share in global triethyl citrate
market. However, the demand is this region is expected to gain
momentum due to growing industrialization and automotive industry.
Growth of the triethyl citrate market is related to the
industrialization in the region. Rest of the World held minute share
however, South America and Middle East regions are expected to show
highest growth rate in the near future.
Global
triethyl citrate market is characterized by high level of
consolidation. The market have experience significant level of
mergers and acquisitions in the last few years. Major players have
maintained presence across value chain by integrating forward and
backward. Key players in triethyl citrate market include Hangzhou
Trylead Chemical Technology, Tractus, Debye Scientific Co., Ltd, A&J
Pharmtech Co., LTD., RennoTech Co., Ltd., Finetech Industry Limited,
King Scientific and AN PharmaTech.
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