Growing Utilisation as Raw Material in Cleaning and Disinfectant Industry to Fuel Demand
DPTA (dipropylene triamine) is a curing agent for epoxy resins. The demand for triamine is expected to rise as the need for epoxy curing agent rises, contributing to global dipropylene triamine market to grow. Dipropylene triamine facilitates greater efficacy in the chemical and pharmaceutical industries. Dipropylene triamine also has a wide. The market is expected to benefit from a wide range of application areas of dipropylene triamine such as hardening, wood preservation, and chemical synthesis. Moreover, increasing demand for dipropylene triamine in civil engineering and construction applications are driving the global dipropylene triamine market.
The market is predicted to grow due to demand for epoxy curing agents from their application in adhesives and coatings, as well as an increase in demand for adhesives in the construction industry, over the forecast period. Increased use of epoxy curing agents in civil engineering and construction applications such as concrete bonding, flooring, and marble laminate is also expected to boost the market. The global construction industry's income is predicted to increase gradually in the next years. It is expected to be more than twice as large in 2030 as it was in 2020. In 2020, the construction market was worth 6.4 trillion dollars, and by 2030, it is estimated to be worth 14.4 trillion dollars.
A significant increase in energy demand, conventional energy sources are rapidly depleting. As a result, there is a growing need to expand and use renewable energy sources such as wind power. The Indian Ministry of New and Renewable Energy (MNRE) has set a target of 5.0 GW of offshore wind installations by 2022, and 30 GW by 2030. As a result, the demand for epoxy curing agents in wind energy industry is increasing at a significant which is further increasing the demand for dipropylene triamine hence driving the market growth.
Pharmaceutical Category to Aid Dipropylene Triamine Market Growth
The Pharmaceutical category is expected to dominate the global dipropylene triamine market over the forecast period. Many chronic diseases, such as rheumatoid arthritis, hypertension, diabetes, and cancer, have seen an increase in both the younger population as well as the ageing population. Demand for medications used in the treatment of various disorders increased as the patient pool grew, having a substantial bearing on market growth throughout the study period. Furthermore, due to COVID-19 pandemic, the pharmaceutical industry has seen a significant development in recent years. In this highly competitive environment, most well-established companies are consolidating to strengthen their market position. Small to mid-sized pharmaceutical companies, on the other hand, are bought for their inventive capabilities. Furthermore, strict rules aimed at lowering pharmaceutical prices have led in a slew of mergers, and acquisitions.
Rising Urbanisation and Spending Power in Asia Pacific to Drive Growth of Dipropylene Triamine Market
Asia Pacific is expected to dominate the global dipropylene triamine market over the forecast period due to rising urbanisation and spending power in the region. The market here is expected to expand rapidly. Dipropylene triamine has a wide range of other applications, including hardeners, wood preservatives, and chemical synthesis. Furthermore, the increasing application of epoxy curing agents in the flourishing building & construction, wind energy sector, automotive and aerospace industry in this region will propel the dipropylene triamine market. The region is the largest market for dipropylene triamine because of significant expenditures in energy efficiency and environmental friendliness in the dipropylene triamine industry in China, Japan, and India. The region's automotive and aviation industries are benefiting from rising population, and per capita income.
According to the International Trade Administration, the Chinese government expects car production to reach 35 million by 2025. (ITA). According to Boeing, China will require 7,690 new aircraft worth $1.2 trillion over the next 20 years. Furthermore, China currently accounts for 15% of the world's commercial aeroplane fleet, and by 2037, it will account for nearly 20%. As a result of the thriving automotive and aviation industries, there will be an increase in demand for composite materials like epoxy curing agents, which is expected to drive the market in Asia Pacific.
Europe is also a significant consumer of dipropylene triamine. Owing to an increase in the number of manufacturers and increased sales of pharmaceutical products in the region, the dipropylene triamine market in the region is predicted to grow significantly. For instance, the European Federation of Pharmaceutical Industries and Association (EFPIA) represents a sizeable proportion of Europe's drug manufacturers. It currently includes 36 national pharmaceutical associations and 39 of Europe's leading pharmaceutical companies. Russia, and Turkey are also members of the EFPIA. It was estimated that EFPIA members generated approximately 310 billion euros in production value in 2020.
Global Dipropylene Triamine Market: Competitive Landscape
Companies in the market are introducing new products alongside initiation collaborations, alliances and partnership agreements. Strategic steps have been taken by key businesses to increase their presence and preserve a competitive edge in the market. In addition, market participants are engaged in product development, cooperation and partnership models, agreements, business expansion, and merger & acquisition strategies in order to strengthen their product portfolio and meet demand for dipropylene triamine products.
A few of the players in the dipropylene triamine market include BASF SE, Nouryon, Rugao Wanli Chemical Industry Co., Ltd., Merck KGaA, Shandong Paini New Material Co. Ltd, Parchem, Indo Amines Limited, Clariant AG, Hainan Zhongxin Chemical Co., Ltd. and Wuhan Dachu Hexing Technology Co., Ltd.
Regional Classification of the Global Dipropylene Triamine Market is Listed Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability.
Key Elements Included In The Study: Global Dipropylene Triamine Market
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