Triethylaluminum is an organoaluminum with extensive applications in chemical and polymer industry. In chemical industry it is vastly used as a catalyst to manufacture other chemicals and intermediates. Moreover, it is also used as a precursor to manufacture intermediates in pharmaceutical and chemical industry.
Majority of the demand is driven from the chemical industry over the historical period. The growth of the market could largely be attributed to the chemical industry growth. Diversification of the market towards other industries is less likely to occur over the mid-term forecast period. Therefore, market is expected to grow by 2 folds over the period of FY2020 – FY2025. Apart from the chemical industry applications, polymer industry also plays a role in driving the demand of the market.
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Segmentation analysis of Triethylaluminum Market:
The global Triethylaluminum market is bifurcated into four major segments: purity, application, end-use industry and region.
On the basis of purity, Triethylaluminum market has been segmented as follows:
- <95%
- >95%
On the basis of application, Triethylaluminum market has been segmented as follows:
- Catalyst
- Intermediate
- Others
On the basis of End-use industry, Triethylaluminum market has been segmented as follows:
- Chemical
- Polymer
- Pharmaceutical
- Others
On the basis of geographic regions, Triethylaluminum market is segmented as
- North America
- Europe
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Triethylaluminum Market: Regional Outlook
From regional perspective, North America holds largest market share owing to the positioning of consumers and manufacturers in the region. The region favors economies of density and the incline in demand depends mostly with respect to the year on year consumption growth of Triethylaluminum. The demand for Triethylaluminum in North America has drastically increased over the past half-decade with higher digit CAGR.
East Asia followed by North America is set to grow at a much faster pace owing to the rapid growth of chemical industries in the region.
Europe is a mature market for Triethylaluminum and the demand is set to grow at a moderate pace over the forecast period. Latin America and Middle East and Africa capture less than one-tenths of the Triethylaluminum market. All-in-all market is assessed to grow at a larger one-digit CAGR over the forecast period of FY2020-FY2030.
Triethylaluminum Market: Key Players
Global Triethylaluminum market is highly consolidated in nature with the presence of only countable manufacturers across the globe. Key players in market are focused towards collaborative approach. These players aim to channel a Triethylaluminum suitable to different Polymer and chemical industries. Key players in global Triethylaluminum market are Albemarle, Nippon Aluminum Alkyls, Tianjin Lianli Chemical, Sasol O&S, Albemarle, Saudi Organometallic Chemicals and others.
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