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N,N-Diethanol-P-Toluidine Market - Forecast(2024 - 2030)
N,N-Diethanol-P-Toluidine Market Overview
N,N-diethanol-p-toluidine market size is forecasted to grow at a CAGR of 4.5% during the forecast period 2022-2027. N,N-diethanol-p-toluidine is a free radical curing and polymerization catalyst used in various end-use industries such as paints and coatings, adhesives, and more. The acrylate, epoxy resins, vinyl ether, and more are the resins manufactured from N,N-diethanol-p-toluidine. These resins are widely utilized in the manufacturing of paints and coatings. The N,N-diethanol-p-toluidine market is primarily driven by the growth of the paints and coatings industry. Moreover, the growth of the adhesives industry is anticipated to fuel the demand for N,N-diethanol-p-toluidine, this, in turn, will drive the N,N-diethanol-p-toluidine industry growth during the forecast period. However, the health hazards associated with the use of N,N-diethanol-p-toluidine will restrict the market growth during the forecast period.
N,N-Diethanol-P-Toluidine Market COVID-19 Impact
The Covid-19 pandemic created a bottleneck for the growth of the N,N-diethanol-p-toluidine in 2020. This was due to the restrictions on industrial production activities, which resulted in the decline in production related to paints and coatings, rubber, and more. For instance, according to Japan Paint Manufacturers Association (JPMA), in the year 2019, the total paints and coatings production in Japan was 1,645,960 tons, and in 2020 it was 1,487,705 tons, a decline of 10.64%. Likewise, in other parts of the world, there was a decline in production activities. As a result, N,N-diethanol-p-toluidine industry suffered losses. However, in 2021, the industrial production activities started resurging again, which resulted in the growth of the N,N-diethanol-p-toluidine market. Moreover, it is projected that in the upcoming years the impact of the Covid-19 pandemic will be phased out. This will result in N,N-diethanol-p-toluidine industry growth scenario similar to the pre-Covid time.
Report Coverage
The report: "N,N-Diethanol-P-Toluidine Market–Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the N,N-Diethanol-P-Toluidine Market.
Key Takeaways
- Asia-Pacific region dominated the N,N-diethanol-p-toluidine market, owing to the growing paints and coatings industry in the region. For instance, according to the Japan Paint Manufacturers Association (JPMA), in 2019, the total synthetic resin base paints and coating manufactured in Japan was 1,101,715 tons, which was about 1.2% higher when compared with 2018.
- The factors such as increased demand from the packaging sector and the booming construction industry construction are fueling the demand for adhesives. As a result of such growth, it is projected that the demand for N,N-diethanol-p-toluidine will grow, which will fuel the growth of the market in the forecast period.
- Moreover, the surging demand for the unsaturated polyester due to the growth of the automotive, electrical & electronics, and more such industries is accelerating the N,N-diethanol-p-toluidine market growth.
- Also, the increasing use of N,N-diethanol-p-toluidine as a tertiary amine for reducing the number of disinfection byproducts is expected to create an opportunity for the growth of the market.
Figure: Asia-Pacific N,N-Diethanol-P-Toluidine Market Revenue, 2021-2027 (US$ Million)
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N,N-Diethanol-P-Toluidine Market Segment Analysis – ByApplication
The unsaturated polyester segment held a significant share in the N,N-diethanol-p-toluidine market in 2021 and is forecasted to grow at a CAGR of 5.6% during the forecast period 2022-2027. N,N-diethanol-p-toluidine is used as tertiary amine in the manufacturing of the unsaturated polyester. The synergistic property of N,N-diethanol-p-toluidine peroxide in free radical curing systems ensures appropriate resistance to water and a variety of chemicals, as well as weathering and aging. Thus, the N,N-diethanol-p-toluidine based unsaturated polyester often results in higher paints and coatings and adhesives durability. Hence, due to these functions the adoption of N,N-diethanol-p-toluidine is surging in unsaturated polyester. This, in turn, is accelerating the growth of the market.
N,N-Diethanol-P-Toluidine Market Segment Analysis – By End-Use Industry
The paints and coatings segment held a significant share in the N,N-diethanol-p-toluidine market in 2021 and is forecasted to grow at a CAGR of 5.9% during the forecast period 2022-2027. In the paints and coatings industry N,N-diethanol-p-toluidine is utilized as a tertiary amine to boost organic compound degradation while decreasing disinfection byproduct (DBP) generation. The key factors such as growing demand for repainting and new construction are propelling the growth of the paints and coatings industry. For instance, according to British Coatings Federation (BCF), due to continued strong consumer demand for DIY commodities such as paints and wall coverings, as well as a strong manufacturing and construction industry rebound, the first 5 months of 2021 achieved remarkable sales results in both industrial and decorative coatings in the United Kingdom. Overall, paint and coatings sales in the UK increased by 24% compared to the same period in 2020. Thus, the growth of the paints and coatings industry is fueling the growth of the N,N-diethanol-p-toluidine, which is propelling the market growth.
N,N-Diethanol-P-Toluidine Market Segment Analysis – By Geography
Asia-Pacific region is the dominating region as it holds the largest share in the N,N-diethanol-p-toluidine market in 2021 up to 48%, and is forecasted to grow at a CAGR of 6.3% during the forecast period 2022-2027. The Asia-Pacific region's economy is booming due to the growth of various industries such as paints and coatings, adhesives, and more. The critical factors such as growth in the construction activities, increasing renovation activities, and other factors are driving the growth of the paints and coatings industry. For instance, in 2021, Nippon Paints Group made medium to long-term investments in upgrading and streamlining industrial facilities in Japan from 2021 to 2023 to secure a market edge and boost productivity while building new demand for paints and coatings. Moreover, in September 2021, Axalta, a global leader in liquid coatings started the construction of a cutting-edge coatings facility in Jilin City, Jilin Province, North China. The new 46,000-square-meter plant will manufacture mobility coatings to meet expanding Chinese customer demand for light vehicles, commercial vehicles, and automotive plastic components. This project's construction will be completed by 2023. Therefore, the growth of the paints and coatings industry in the Asia-Pacific region is projected to fuel the demand for N,N-diethanol-p-toluidine. This will drive the market growth in the upcoming years
N,N-Diethanol-P-Toluidine Market Drivers
Surging Adhesives and Sealants Industry
N,N-Diethanol-P-Toluidine is used as a curing synergist in a range of free radical curing adhesive compositions. The factors such as increasing demand for adhesives from various industries such as packaging, constriction, and more are fueling the growth of the adhesives industry. For instance, according to a recent study issued in 2020 by the European Adhesive and Sealant Industry, the adhesives and sealants sector increased its production operations throughout multiple locations. In 2020, Asia-Pacific experienced a 36.8 percent increase, Europe saw a 34.5 percent increase, North America saw a 23.1 percent increase, the Middle East saw a 1.3 percent increase, and Africa saw a 1.1 percent increase. Hence, the growth of the adhesives industry is boosting the demand for the N,N-Diethanol-P-Toluidine. This is driving the growth of the market.
The Surging Adoption of N,N-Diethanol-P-Toluidine as Tertiary Amine
In industries, such as paints and coatings, rubber, polymer, and more, N,N-Diethanol-P-Toluidine is deployed to increase the breakdown of organic compounds while lowering the production of disinfection byproducts. The factors such as increasing growth of the paints and coatings and rubber manufacturing facility are expected to fuel the demand for N,N-Diethanol-P-Toluidine as a tertiary amine. For instance, in February 2022, AkzoNobel, a global coatings company, announced plans to invest in expanding its in-house resin manufacturing in the short run by 2023 to meet the in-house demand for paints and coating. Moreover, in December 2020, Mesnac, a Chinese rubber and machinery manufacturer, announced to open its rubber wet-mixing production unit in Qingdao in 2023. Hence, the surging adoption of N,N-Diethanol-P-Toluidine as tertiary amine is fueling the growth of the market.
N,N-Diethanol-P-Toluidine Market Challenges
Availability of N,N-Diethanol-P-Toluidine Substitutes
Although N,N-diethanol-p-toluidine is deployed as tertiary amine and peroxide synergist, the availability of various substitutes such as N,N-Diethyl-p-toluidine, N,N-Bis (2-hydroxyethyl)-p-toluidine, and more. The superior benefits associated with these types of p-toluidine are posing as a major restrain for the growth of the market. The higher function of N,N-Diethyl-p-toluidine with resins and dyes makes them ideal for use in paints and coatings, textile, and other such industries. Moreover, these chemicals also work efficiently in the polymerization process. Therefore, these superior properties of N,N-Diethyl-p-toluidine, N,N-Bis(2-hydroxyethyl)-p-toluidine, and more are restricting the new product development related to N,N-diethanol-p-toluidine. This, in turn, is posing as a major roadblock to the growth of the market.
Global N,N-Diethanol-P-Toluidine Industry Outlook
Technology launches, acquisitions, and increased R&D activities are key strategies adopted by players in the N,N-diethanol-p-toluidine market. Global N,N-diethanol-p-toluidine top 10 companies are:
- BASF
- GFS Chemicals
- Hangzhou J&H Chemical
- C/D/N Isotopes Inc
- LANXESS
- OQEMA
- Hangzhou Tongte Chemical Co., Ltd.
- Jiangsu Qingquan Chemical Co., Ltd.
- Tokyo Chemical Industry
- Glentham Life Sciences
Relevant Reports
Report Code: CMR 1049
Report Code: HCR 0054
LIST OF TABLES
1.Global N,N-Diethanol-P-Toluidine Market, by Type Market 2023-2030 ($M)2.Global N,N-Diethanol-P-Toluidine Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
3.Global N,N-Diethanol-P-Toluidine Market, by Type Market 2023-2030 (Volume/Units)
4.Global N,N-Diethanol-P-Toluidine Market Analysis and Forecast by Type and Application Market 2023-2030 (Volume/Units)
5.North America N,N-Diethanol-P-Toluidine Market, by Type Market 2023-2030 ($M)
6.North America N,N-Diethanol-P-Toluidine Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
7.South America N,N-Diethanol-P-Toluidine Market, by Type Market 2023-2030 ($M)
8.South America N,N-Diethanol-P-Toluidine Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
9.Europe N,N-Diethanol-P-Toluidine Market, by Type Market 2023-2030 ($M)
10.Europe N,N-Diethanol-P-Toluidine Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
11.APAC N,N-Diethanol-P-Toluidine Market, by Type Market 2023-2030 ($M)
12.APAC N,N-Diethanol-P-Toluidine Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
13.MENA N,N-Diethanol-P-Toluidine Market, by Type Market 2023-2030 ($M)
14.MENA N,N-Diethanol-P-Toluidine Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)