Triglycidal Isocyanurate (TGIC) Market Synopsis:
Triglycidal Isocyanurate (TGIC) Market Size Was Valued at USD 1.10 Billion in 2023, and is Projected to Reach USD 2.48 Billion by 2032, Growing at a CAGR of 9.50 % From 2024-2032.
TGIC stands for Triglycidal Isocyanurate and this compound has its major use as a curing agent mainly in powder coating products, products that are suitable for; chemically and UV resistance, anti corrosive applications. Coatings industry acknowledges the material for its capacity to improve the performance and endurance of coatings applied in automobile, industrial and architectural applications. TGIC is an essential component in preparing the coatings that possess good adhesion properties, withstand weathers, chemicals and heat.
The market for TGIC is advancing at a fast pace owing to the rising demand for better performing coatings across auto maker sector and construction sector as well as the electronics sector. However, the automotive industry is one of the key industries benefiting from market growth by using TGIC-based coatings for durability and beauty of the automotive part installed in severe environmental conditions. In addition, due to rising awareness of the environment, industries are gradually moving towards the usage of eco-smart powder coatings that are free from solvents and symbols, less generating of VOCs hence promoting the demand of TGIC in coatings.
Likewise, the increasing construction and electronics sectors also contribute significantly for the growth of the market. TGIC based coatings are useful as the demand for protective and long lasting coatings in infrastructure projects and electronics production grows. The current trend of adopting advanced deep coating systems that provide increased protection and functionality is predicted to drive the market continually in the future.
Triglycidal Isocyanurate (TGIC) Market Trend Analysis:
Increasing Demand for Eco-Friendly Coatings
- Among the principal trends characterising the TGIC market it is possible to track a tendency to utilise environmentally-friendly powder coatings. This is because with rising regulation to minimize VOC emissions, TGIC based powder coatings technologies that do not contain solvents, and emit fewer toxic fumes have found ample use. The preference for sustainable products by consumers provides TGIC with an opportunity for a niche market on the conservative market in the future.
- Technological Advancements in Coating Formulations: Another equally important trend is the continuous efforts being made throughout the world on the development of new and improved formulations of the TGIC based coatings. Advances in polymer chemistry and the use of cross-linking agents used in coatings are enhancing the hardness, UV resistance and chemical durability of the coatings to suit the most challenging sectors of automotive, aerospace and industrial.
Increased Adoption in Powder Coatings for Electronics and Appliances:
- Expanding End-Use Industries: TGIC has a greater growth prospect for specialty end-use segments that find new market perspectives in Asia Pacific and Latin America. Bob explained that the vapor deposited coatings provide perfect finishes for these industries because they are highly durable, possess relatively high-performance rates, and match the pace of these developing regions. This expansion also holds potential for TGIC manufacturers to expand into new markets more so as the automotive and construction industries continue to grow.
- The second potentiality is closely associated with the growing usage of TGIC-based powder coatings in electronics and home appliance industries. Strengthened by the increase in the demand for quality and appearance of electronic gadgets and devices, TGIC’s ability to provide a rich choice of high-quality material for the creation of quality surfaces should create new opportunities for the company’s development. Manufacturers are up for the challenge to add value to TGIC and its versatility in the market, making it applicable in these sectors.
Triglycidal Isocyanurate (TGIC) Market Segment Analysis:
Triglycidal Isocyanurate (TGIC) Market is Segmented on the basis of Type, Application, End-Use Industry, and Region.
By Type, Solid TGIC segment is expected to dominate the market during the forecast period
- Solid TGIC & Liquid TGIC: The TGIC market is divided into two groups: solid TGIC and liquid TGIC, where its applications alter between the two. Mainly solid TGIC is used in powder coatings because of the excellent chemical as well as weather resistance and is most suitable for automotive and industrial uses. Liquid TGIC is used in the cases where liquid based materials are expected for examples in the formulation of paints and coatings
By Application, Powder Coatings segment expected to held the largest share
- Powder Coatings, Plastics, Automotive Coatings, Industrial Coatings, Others: TGIC is use frequently in the formulation of powder coatings because of its capability to offer long-lasting and resistant coatings. It is also used in the manufacture of plastics especially to enhance surface characteristics; to provide an anti-wear feature. In automotive coatings, TGIC improves properties of the coatings of auto parts that experience extreme conditions. Basic and advanced industrial coatings require TGIC that has the versatility to work in harsh conditions is the reason it favors heavy machinery and equipment. The Other part illustrates additional industries with specific application cases where TGIC is still used for varying coating requirements.
Triglycidal Isocyanurate (TGIC) Market Regional Insights:
Asia Pacific is Expected to Dominate the Market Over the Forecast period
- The TGIC market is also dominated by the Asia Pacific region as a result of increasing industrialization, automotive industries, infrastructural development in countries such as China, India and Japan, amongst others. High demand for high-performance coatings in these regions has therefore boosted its TGIC based products especially car coatings, industrial and architectural coatings. The Asia Pacific shall remain in the market for TGIC due to its large investments on the infrastructure and manufacturing industries.
Active Key Players in the Triglycidal Isocyanurate (TGIC) Market:
- Arkema Group (France)
- BASF SE (Germany)
- Covestro AG (Germany)
- DSM Coating Resins (Netherlands)
- Evonik Industries AG (Germany)
- Hexion Inc. (USA)
- Kraton Polymers (USA)
- Mitsubishi Chemical Corporation (Japan)
- SABIC (Saudi Arabia)
- The Dow Chemical Company (USA)
- Other Active Players
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Triglycidal Isocyanurate (TGIC) Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 1.10 Billion |
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Forecast Period 2024-32 CAGR: |
9.50 % |
Market Size in 2032: |
USD 2.48 Billion |
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Segments Covered: |
By Type |
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By Application |
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By End-Use Industry |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Triglycidal Isocyanurate (TGIC) Market by By Type (2018-2032)
4.1 Triglycidal Isocyanurate (TGIC) Market Snapshot and Growth Engine
4.2 Market Overview
4.3 Solid TGIC
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
4.3.3 Key Market Trends, Growth Factors, and Opportunities
4.3.4 Geographic Segmentation Analysis
4.4 Liquid TGIC
Chapter 5: Triglycidal Isocyanurate (TGIC) Market by By Application (2018-2032)
5.1 Triglycidal Isocyanurate (TGIC) Market Snapshot and Growth Engine
5.2 Market Overview
5.3 Powder Coatings
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
5.3.3 Key Market Trends, Growth Factors, and Opportunities
5.3.4 Geographic Segmentation Analysis
5.4 Plastics
5.5 Automotive Coatings
5.6 Industrial Coatings
5.7 Others
Chapter 6: Triglycidal Isocyanurate (TGIC) Market by By End-Use Industry (2018-2032)
6.1 Triglycidal Isocyanurate (TGIC) Market Snapshot and Growth Engine
6.2 Market Overview
6.3 Automotive
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
6.3.3 Key Market Trends, Growth Factors, and Opportunities
6.3.4 Geographic Segmentation Analysis
6.4 Construction
6.5 Electronics
6.6 Aerospace
6.7 Others
Chapter 7: Company Profiles and Competitive Analysis
7.1 Competitive Landscape
7.1.1 Competitive Benchmarking
7.1.2 Triglycidal Isocyanurate (TGIC) Market Share by Manufacturer (2024)
7.1.3 Industry BCG Matrix
7.1.4 Heat Map Analysis
7.1.5 Mergers and Acquisitions
7.2 KRATON POLYMERS (USA)
7.2.1 Company Overview
7.2.2 Key Executives
7.2.3 Company Snapshot
7.2.4 Role of the Company in the Market
7.2.5 Sustainability and Social Responsibility
7.2.6 Operating Business Segments
7.2.7 Product Portfolio
7.2.8 Business Performance
7.2.9 Key Strategic Moves and Recent Developments
7.2.10 SWOT Analysis
7.3 HEXION INC. (USA)
7.4 BASF SE (GERMANY)
7.5 EVONIK INDUSTRIES AG (GERMANY)
7.6 MITSUBISHI CHEMICAL CORPORATION (JAPAN)
7.7 THE DOW CHEMICAL COMPANY (USA)
7.8 COVESTRO AG (GERMANY)
7.9 SABIC (SAUDI ARABIA)
7.10 ARKEMA GROUP (FRANCE)
7.11 DSM COATING RESINS (NETHERLANDS)
7.12 OTHER ACTIVE PLAYERS
Chapter 8: Global Triglycidal Isocyanurate (TGIC) Market By Region
8.1 Overview
8.2. North America Triglycidal Isocyanurate (TGIC) Market
8.2.1 Key Market Trends, Growth Factors and Opportunities
8.2.2 Top Key Companies
8.2.3 Historic and Forecasted Market Size by Segments
8.2.4 Historic and Forecasted Market Size By By Type
8.2.4.1 Solid TGIC
8.2.4.2 Liquid TGIC
8.2.5 Historic and Forecasted Market Size By By Application
8.2.5.1 Powder Coatings
8.2.5.2 Plastics
8.2.5.3 Automotive Coatings
8.2.5.4 Industrial Coatings
8.2.5.5 Others
8.2.6 Historic and Forecasted Market Size By By End-Use Industry
8.2.6.1 Automotive
8.2.6.2 Construction
8.2.6.3 Electronics
8.2.6.4 Aerospace
8.2.6.5 Others
8.2.7 Historic and Forecast Market Size by Country
8.2.7.1 US
8.2.7.2 Canada
8.2.7.3 Mexico
8.3. Eastern Europe Triglycidal Isocyanurate (TGIC) Market
8.3.1 Key Market Trends, Growth Factors and Opportunities
8.3.2 Top Key Companies
8.3.3 Historic and Forecasted Market Size by Segments
8.3.4 Historic and Forecasted Market Size By By Type
8.3.4.1 Solid TGIC
8.3.4.2 Liquid TGIC
8.3.5 Historic and Forecasted Market Size By By Application
8.3.5.1 Powder Coatings
8.3.5.2 Plastics
8.3.5.3 Automotive Coatings
8.3.5.4 Industrial Coatings
8.3.5.5 Others
8.3.6 Historic and Forecasted Market Size By By End-Use Industry
8.3.6.1 Automotive
8.3.6.2 Construction
8.3.6.3 Electronics
8.3.6.4 Aerospace
8.3.6.5 Others
8.3.7 Historic and Forecast Market Size by Country
8.3.7.1 Russia
8.3.7.2 Bulgaria
8.3.7.3 The Czech Republic
8.3.7.4 Hungary
8.3.7.5 Poland
8.3.7.6 Romania
8.3.7.7 Rest of Eastern Europe
8.4. Western Europe Triglycidal Isocyanurate (TGIC) Market
8.4.1 Key Market Trends, Growth Factors and Opportunities
8.4.2 Top Key Companies
8.4.3 Historic and Forecasted Market Size by Segments
8.4.4 Historic and Forecasted Market Size By By Type
8.4.4.1 Solid TGIC
8.4.4.2 Liquid TGIC
8.4.5 Historic and Forecasted Market Size By By Application
8.4.5.1 Powder Coatings
8.4.5.2 Plastics
8.4.5.3 Automotive Coatings
8.4.5.4 Industrial Coatings
8.4.5.5 Others
8.4.6 Historic and Forecasted Market Size By By End-Use Industry
8.4.6.1 Automotive
8.4.6.2 Construction
8.4.6.3 Electronics
8.4.6.4 Aerospace
8.4.6.5 Others
8.4.7 Historic and Forecast Market Size by Country
8.4.7.1 Germany
8.4.7.2 UK
8.4.7.3 France
8.4.7.4 The Netherlands
8.4.7.5 Italy
8.4.7.6 Spain
8.4.7.7 Rest of Western Europe
8.5. Asia Pacific Triglycidal Isocyanurate (TGIC) Market
8.5.1 Key Market Trends, Growth Factors and Opportunities
8.5.2 Top Key Companies
8.5.3 Historic and Forecasted Market Size by Segments
8.5.4 Historic and Forecasted Market Size By By Type
8.5.4.1 Solid TGIC
8.5.4.2 Liquid TGIC
8.5.5 Historic and Forecasted Market Size By By Application
8.5.5.1 Powder Coatings
8.5.5.2 Plastics
8.5.5.3 Automotive Coatings
8.5.5.4 Industrial Coatings
8.5.5.5 Others
8.5.6 Historic and Forecasted Market Size By By End-Use Industry
8.5.6.1 Automotive
8.5.6.2 Construction
8.5.6.3 Electronics
8.5.6.4 Aerospace
8.5.6.5 Others
8.5.7 Historic and Forecast Market Size by Country
8.5.7.1 China
8.5.7.2 India
8.5.7.3 Japan
8.5.7.4 South Korea
8.5.7.5 Malaysia
8.5.7.6 Thailand
8.5.7.7 Vietnam
8.5.7.8 The Philippines
8.5.7.9 Australia
8.5.7.10 New Zealand
8.5.7.11 Rest of APAC
8.6. Middle East & Africa Triglycidal Isocyanurate (TGIC) Market
8.6.1 Key Market Trends, Growth Factors and Opportunities
8.6.2 Top Key Companies
8.6.3 Historic and Forecasted Market Size by Segments
8.6.4 Historic and Forecasted Market Size By By Type
8.6.4.1 Solid TGIC
8.6.4.2 Liquid TGIC
8.6.5 Historic and Forecasted Market Size By By Application
8.6.5.1 Powder Coatings
8.6.5.2 Plastics
8.6.5.3 Automotive Coatings
8.6.5.4 Industrial Coatings
8.6.5.5 Others
8.6.6 Historic and Forecasted Market Size By By End-Use Industry
8.6.6.1 Automotive
8.6.6.2 Construction
8.6.6.3 Electronics
8.6.6.4 Aerospace
8.6.6.5 Others
8.6.7 Historic and Forecast Market Size by Country
8.6.7.1 Turkiye
8.6.7.2 Bahrain
8.6.7.3 Kuwait
8.6.7.4 Saudi Arabia
8.6.7.5 Qatar
8.6.7.6 UAE
8.6.7.7 Israel
8.6.7.8 South Africa
8.7. South America Triglycidal Isocyanurate (TGIC) Market
8.7.1 Key Market Trends, Growth Factors and Opportunities
8.7.2 Top Key Companies
8.7.3 Historic and Forecasted Market Size by Segments
8.7.4 Historic and Forecasted Market Size By By Type
8.7.4.1 Solid TGIC
8.7.4.2 Liquid TGIC
8.7.5 Historic and Forecasted Market Size By By Application
8.7.5.1 Powder Coatings
8.7.5.2 Plastics
8.7.5.3 Automotive Coatings
8.7.5.4 Industrial Coatings
8.7.5.5 Others
8.7.6 Historic and Forecasted Market Size By By End-Use Industry
8.7.6.1 Automotive
8.7.6.2 Construction
8.7.6.3 Electronics
8.7.6.4 Aerospace
8.7.6.5 Others
8.7.7 Historic and Forecast Market Size by Country
8.7.7.1 Brazil
8.7.7.2 Argentina
8.7.7.3 Rest of SA
Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies
Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research
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Triglycidal Isocyanurate (TGIC) Market |
|||
|
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
|
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 1.10 Billion |
|
Forecast Period 2024-32 CAGR: |
9.50 % |
Market Size in 2032: |
USD 2.48 Billion |
|
Segments Covered: |
By Type |
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|
|
By Application |
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By End-Use Industry |
|
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|
By Region |
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Key Market Drivers: |
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Key Market Restraints: |
|
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Key Opportunities: |
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Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Triglycidal Isocyanurate (TGIC) Market research report is 2024-2032.
Kraton Polymers (USA), Hexion Inc. (USA), BASF SE (Germany), Evonik Industries AG (Germany), Mitsubishi Chemical Corporation (Japan), The Dow Chemical Company (USA), Covestro AG (Germany), SABIC (Saudi Arabia), Arkema Group (France), DSM Coating Resins (Netherlands). and Other Active Players.
The Triglycidal Isocyanurate (TGIC) Market is segmented into By Type, By Application, By End-Use Industry and region. By Type, the market is categorized into Solid TGIC, Liquid TGIC. By Application, the market is categorized into Powder Coatings, Plastics, Automotive Coatings, Industrial Coatings, Others. By End-Use Industry, the market is categorized into Automotive, Construction, Electronics, Aerospace, Others. By region, it is analyzed across North America (U.S., Canada, Mexico), Eastern Europe (Russia, Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe), Western Europe (Germany, UK, France, The Netherlands, Italy, Spain, Rest of Western Europe), Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC), Middle East & Africa (Turkiye, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa), South America (Brazil, Argentina, Rest of SA).
TGIC stands for Triglycidal Isocyanurate and this compound has its major use as a curing agent mainly in powder coating products, products that are suitable for; chemically and UV resistance, anti-corrosive applications. Coatings industry acknowledges the material for its capacity to improve the performance and endurance of coatings applied in automobile, industrial and architectural applications. TGIC is an essential component in preparing the coatings that possess good adhesion properties, withstand weathers, chemicals and heat.
Triglycidal Isocyanurate (TGIC) Market Size Was Valued at USD 1.10 Billion in 2023, and is Projected to Reach USD 2.48 Billion by 2032, Growing at a CAGR of 9.50 % From 2024-2032.
