The global trimethylamine market is estimated to witness a healthy growth, at an estimated CAGR of over 4%, over the forecast period. The major factor driving the growth of the market studied is increasing initiatives and investments by government and animal welfare associations.
- Increasing oil and gas industrial activities are likely to create opportunities for the market in the coming years.
- Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
Key Market Trends
Choline Chloride - A Huge Market Potential
- Choline chloride is the largest application of trimethylamine. Trimethylamine is used in the production of choline chloride which is used in the animal feed and human development as a vitamin, in the oil & gas exploration activities, lubricants, and greases, etc.
- Choline chloride is majorly used as feed in the poultry. With rising incomes of the consumers to eat more protein coupled with the increasing population and urbanization, the demand for poultry meat and eggs is significantly rising.
- Poultry is a key factor for the smallholders and poor people, both in rural and urban areas, thereby boosting the production of poultry. According to the Poultry Hub Organization, global poultry production was 111,000 thousand metric tons in 2015 and is expected to reach 131,255 thousand metric tons in 2025.
- With the increasing demand for poultry meat coupled with the increasing poverty in the country, there is a significant growth in the poultry industry. Owing to all these factors, the market for trimethylamine is likely to grow across the world during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy, in terms of GDP. China is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country’s manufacturing sector is one of the major contributors to the country’s economy.
- China’s trimethylamine demand is rising faster than the global average, due to the rising demand for meat products from China’s wealthy middle class. The enormous growth can be explained by the surging demand for animal feed used in the livestock and farming industries. Since the population almost doubled to 1.4 billion people, the country’s demand for meat and animal feed has exploded.
- Recently, the development of China's aquaculture industry accelerated hugely. The capacity of pork eggs and livestock also ranked in the first place, worldwide. This scenario is creating an exciting opportunity for the trimethylamine market in the country.
- Furthermore, the 12th five-year development plan in the feed industry clearly pointed out that China should develop feed products with excellent quality, safety, high-efficiency, and new feed additives, as well as strengthen the international competitiveness and reduce the production cost.
- Due to all such factors, the market for trimethylamine in the region is expected to have a steady growth during the forecast period.
The trimethylamine market is consolidated in nature. Some of the major players in the market include BASF SE, Celanese Corporation, Eastman Chemical Company, MITSUBISHI GAS CHEMICAL COMPANY, INC., and DuPont, among others.
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