N,N-Diethanol-P-Toluidine Market - Forecast(2023 - 2028)

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. 

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