LOS ANGELES, April 09, 2019 (GLOBE NEWSWIRE) -- The latest research report by QY states that the global triglycidyl isocyanurate (TGIC) market is expected to grow at a steady pace in the coming years as manufacturing and industrial process continue to be on the rise. As of 2018, the TGIC market was valued at US$104.32 mn and is expected to be worth US$126.78 mn by the end of 2025. During the forecast years of 2018 to 2025, the global market is expected to register a CAGR of 2.82%. The research report on global TGIC market offers a detailed outlook of the market. It opens with an executive summary and it measures the market dynamics using Porter’s five forces analysis and SWOT analysis. The comprehensive outlook of the market is aimed at helping the readers achieving a holistic perspective.
Global Triglycidyl Isocyanurate (TGIC) Market: Market Drivers
The demand for TGIC is expected to rise in the coming years as due to its increasing applications. Applications of Triglycidyl Isocyanurate (TGIC) are anticipated to create new business segments in the market. TGIC is extensively used in powder coating. It is blended with polymers and pigments for achieving the desired effect for powder coating during manufacturing processes. Thus, increasing demand for powder coating in various industries is expected to spike up the demand for TGIC.
Global Triglycidyl Isocyanurate (TGIC) Market: Forecast by Type
On the basis of type, the global TGIC market is segmented into industrial grade and electronic grade. Out of these, the industrial grade segment is expected to create an absolute opportunity of US$22.46 mn between 2018 and 2025. The growing demand for industrial grade TGIC will be due to its growing applications in different types of industries.
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Global Triglycidyl Isocyanurate (TGIC) Market: Forecast by Application
On the basis of application, the global TGIC market is segmented into powder coating industry, printed circuit board, electrical insulation, and plastic industry. Out of these, the powder coating segment is projected to dominate the global market in the coming years as it accounted for a consumption share of 37.54% in 2018. On the other hand, the printed circuit board segment is expected to surge at a CAGR of 2.24% during the forecast period.
Global Triglycidyl Isocyanurate (TGIC) Market: Forecast by Region
Geographically, the global TGIC market is segmented into North America, Europe, China, Japan, and India. Out of these, China is expected to lead the global market as the market reached a valuation of US$66.87 mn in 2018. During the forecast period, this market is expected to surge at a CAGR of 3.20% over the forecast period. Meanwhile, the Japan market is expected to expand at a moderate CAGR of 2.11% in terms of revenue over the forecast period due to increasing consumption in this country.
Global Triglycidyl Isocyanurate (TGIC) Market: Key Players
Nissan Chemical, HUANGSHAN HUAHUI, Huangshan Jinfeng, Anshan Runde, Tech-Powder (Huangshan), NIUTANG, UMC Corp, Kunshan Xin Kui are the key vendors included in this report.
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