Glyceryl tribenzoate(GTB) Market size is estimated to be USD 150 Million in 2024 and is expected to reach USD 250 Million by 2033 at a CAGR of 6.5% from 2026 to 2033.
The global Glyceryl tribenzoate (GTB) market was valued at USD 14.3 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.8% from 2022 to 2030. This growth is driven by increasing demand across various end use industries such as plastics, adhesives, and personal care, where GTB is utilized as a plasticizer, stabilizer, and fragrance carrier. Asia Pacific dominated the market in 2022, accounting for over 38% of the total market share, due to rapid industrialization and the expanding chemical manufacturing sector in countries like China and India. North America followed with a 26% share, attributed to increased demand from polymer applications and regulatory support for safer plasticizers. Europe held approximately 21% of the market share, supported by sustainable product development and stringent quality standards, while Latin America and the Middle East & Africa collectively contributed 15% to global revenues.
Opportunities in the GTB market are primarily driven by shifting trends toward non phthalate and environmentally safer plasticizers. The rise in demand for bio based additives and increased regulatory scrutiny on traditional plasticizers present significant prospects for GTB in food packaging and medical grade applications. Technological advancements in chemical synthesis and the development of high purity GTB for sensitive applications like pharmaceuticals and cosmetics are anticipated to fuel market expansion. Additionally, increasing R&D investments in the Asia Pacific region to formulate safer, performance enhancing plasticizer alternatives create lucrative opportunities for suppliers. The market is also expected to benefit from rising global demand for specialty chemicals and the growing inclination toward custom formulations in various industrial applications, particularly in emerging economies.
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FEIYANG GROUP
Synose
Perstorp
Scichemy
Jialong Biological
Velsicol Chemical
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Glyceryl tribenzoate(GTB) Market
Pharmaceuticals
Cosmetics & Personal Care
Food & Beverages
Industrial Applications
Plasticizers
Lubricants
Adhesives
Coatings
Liquid
Solid
Powder
Granules
Liquid
Plasticizing Agent
Stabilizer
Solvent
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Glyceryl tribenzoate(GTB) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Glyceryl tribenzoate(GTB) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Glyceryl tribenzoate(GTB) Market, By Type
6. Global Glyceryl tribenzoate(GTB) Market, By Application
7. Global Glyceryl tribenzoate(GTB) Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Glyceryl tribenzoate(GTB) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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