Trimethylolpropane Prices

Trimethylolpropane Prices December 2023

The price of trimethylolpropane in the United States for 2023 reached 2195 USD/MT in December. The market saw a dip in product rates in response to the rising raw material costs, greater difficulty in obtaining sufficient crude oil for production, reduced export volumes, and slower domestic growth.

In December 2023, China's trimethylolpropane prices were recorded at 948 USD/MT. The country's price rates for this product saw a downfall due to low demand from feedstock industries and ample supply from both domestic and overseas markets.

In Germany, trimethylolpropane was priced at 2214 USD/MT in December 2023. The market saw fluctuations in the last quarter of the year as prices fell due to rising interest rates, a changing economic picture, and high energy expenses.

Trimethylolpropane Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Trimethylolpropane Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of trimethylolpropane pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of trimethylolpropane at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of trimethylolpropane price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing trimethylolpropane price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Trimethylolpropane Market Analysis

The global trimethylolpropane market size reached US$ 629.2 Million in 2023. By 2032, IMARC Group expects the market to reach US$ 903.33 Million, at a projected CAGR of 4.10% during 2023-2032.

• Trimethylolpropane is being used in the creation of alkyd resins, which are important in the manufacturing of paints and coatings. The growing construction and automotive sectors are major consumers of these coatings, owing to their high durability, superior gloss, and resistance to environmental factors. As a result, the rise in infrastructure development, along with a hike in automotive production across the globe, has been directly impacting the demand for these coatings and, thus, trimethylolpropane. For instance, the Government of India (GOI) allocated 3.3% of GDP to the infrastructure sector in the fiscal year 2024, which is contributing to the expansion of this market. Additionally, global auto production reached 85.4 million in 2022, an increase of 5.7% over 2021. This sector is constantly expanding, which is creating the need for TMP-based products.
• TMP is also used to create long-lasting, weather-resistant coatings for wind turbines and solar panels. The shifting global trend toward renewable energy sources, as well as increased investment in wind and solar power projects, are creating significant demand for TMP-based goods. For example, the United States has made investments worth $488 billion in domestic utility-scale clean energy since August 2022. Furthermore, the European Union (EU) has made elaborate plans to construct 1,000 GW of solar and wind capacity by 2030, which is a hike from 400 GW in the year 2022. These investments have resulted in the need for reliable and long-lasting materials to make sure that the efficiency and durability of renewable energy infrastructure are not compromised, thereby promoting the expansion of the trimethylolpropane market.
• The biomedical and healthcare industries are making use of TMP-based products due to their biocompatibility and versatility. The compound is used to produce biocompatible polymers and hydrogels for medical devices, drug delivery systems, and tissue engineering. The increasing need for innovative medical equipment, as well as the global expansion of the healthcare industry, are important factors driving the use of TMP. For example, India's spending on public healthcare totaled 2.1% of the country's GDP in the financial year of 2023. Similarly, in Europe, general government spending on health touched €1221 billion, or 7.7% of GDP, in 2022. This increase has driven up the demand for trimethylolpropane in biological applications.
• The aerospace industry has been making use of TMP-based products for coatings, adhesives, and composite materials as the industry requires high-performance materials that are known to handle extreme temperatures. The growth of the aerospace industry, fueled by rising air travel and defense spending, has increased the demand of the compound in this sector. For example, 820 million people in the EU traveled by air in 2022, with Paris Charles De Gaulle recording the highest number of air passengers, 57 million, followed by Amsterdam Schiphol, 52 million. Also, North American carriers reported a 28.3% annual traffic increase in 2023 compared to 2022. This heightened use of air transportation has led to an uptick in demand for materials that can withstand extreme conditions.

Trimethylolpropane News

The report covers the latest developments, updates, and trends impacting the global trimethylolpropane market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in trimethylolpropane production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the trimethylolpropane price trend.

Latest developments in the trimethylolpropane industry:

• In April 2023, LANXESS announced that its advanced industrial intermediates (AII) business unit will offer more sustainable solutions for around 80 percent of its POP portfolio. Seven of the nine products, including the chemicals trimethylolpropane (TMP), adipic acid (ADA), 1,6-hexanediol (HDO) and phthalic anhydride (PSA), have already successfully completed LANXESS’s internal Scopeblue certification.

Product Description

Trimethylolpropane (TMP) (C6H14O3) is a versatile triol produced from formaldehyde and n-butyraldehyde. It is available in pure form and as esters and is renowned for its high thermal stability, resistance to oxidation, and significant melting point. It is used extensively in industries for applications, such as coatings and resins, lubricants, plasticizers, polyurethane (PU) foams, adhesives, surface coatings, alkyd resins, polyvinyl chloride (PVC) stabilizers, printing inks, and explosives.

Trimethylolpropane offers numerous benefits, such as enhanced durability, improved thermal stability, increased hardness, better adhesion, high gloss, enhanced flexibility, resistance to environmental degradation, improved chemical resistance, compatibility with various materials, and cost-effectiveness. Moreover, it is lauded for its versatility, ease of handling, high purity, consistent quality, wide availability, excellent performance under extreme conditions, environmental friendliness, improved safety in handling, long shelf life, and enhanced product performance.

Regional Coverage

The report provides a detailed analysis of the trimethylolpropane market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the trimethylolpropane price trend. 

Global Trimethylolpropane Price

The report offers a holistic view of the global trimethylolpropane pricing trends in the form of trimethylolpropane price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of trimethylolpropane but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed trimethylolpropane demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Trimethylolpropane Price

European trimethylolpropane market in the last quarter of 2023 experienced a mixed price trajectory due to several factors. Initially, the price rates saw a hike owing to increased demand from downstream industries. However, the prices started declining in the middle of the fourth quarter due to surging interest rates, unstable economy, and high energy costs.

This analysis can be extended to include detailed trimethylolpropane price information for a comprehensive list of countries.

North America Trimethylolpropane Price

The North American trimethylolpropane market experienced a decline during the fourth quarter of 2023. The rising costs of raw materials and challenges in obtaining sufficient crude oil for production decreased consumer confidence, leading to lower prices. Additionally, the market faced a significant increase in inventories due to reduced export volumes and slow domestic growth, which further hindered trimethylolpropane prices.

Specific trimethylolpropane historical data within the United States and Canada can also be provided.

Middle East and Africa Trimethylolpropane Price

The report explores the trimethylolpropane pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on trimethylolpropane prices for countries can also be provided.

Asia Pacific Trimethylolpropane Price

The trimethylolpropane pricing trends in Asia Pacific during the fourth quarter of 2023 showcased a mixed trajectory. Initially, it witnessed a downward movement due to slow progress in the feedstock industries and a rise in inventories as there was an excess supply from local and international sources. However, as the quarter progressed, the prices experienced a hike owing to the rising cost of feedstock chemicals.

This trimethylolpropane price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Trimethylolpropane Price

The analysis of trimethylolpropane prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of trimethylolpropane pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting trimethylolpropane price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The trimethylolpropane price charts ensure our clients remain at the forefront of the industry.