Global Triacetin Market Growth, Trends, and Forecast 2020-2025: Tobacco, Cosmetics, Pharmaceutical Industries Driving Growth

Triacetin, also known as glycerine triacetate, glycerol triacetate, are used extensively as a plasticizer in industries like tobacco, pharmaceutical, and cosmetics. Its properties include light resistance, a good plasticizing effect for various plastic and cellulose-based paints very good dissolving power for a number of organic substances.

Application of triacetin as a plasticizer in the cosmetics industry for nail polishing is expected to surge the market demand. The global revenue generated by the nails segment of the cosmetics industry in 2020 is estimated to be USD 11.13 billion and is predicted to grow at a CAGR of 3.6% during 2020-2023.

In 2019, the net sales of nail polish in the United States alone fetched USD 552.51 million and is presumed to increase the triacetin demand in future.

Plasticizer is also used in the tobacco industry to make cigarette filter rods. As of 2020, it is anticipated that the total revenue from cigarettes industry is about USD 731.5 billion which is forecasted to grow during the forecast period and escalate the demand for triacetin.

All the aforementioned factors are expected to drive the triacetin market during the forecast period.