THEIC Market Analysis APAC, Europe, North America, South America, Middle East and Africa - US, China, Germany, Japan, India - Size and Forecast 2024-2028

THEIC Market Size 2024-2028

The THEIC market size is forecast to increase by USD 82.7 million, at a CAGR of 5.83% between 2023 and 2028.

• The market is driven by the expanding real estate and construction industry, which necessitates the continuous demand for insulation materials. New methods in producing THEIC are contributing to the market's growth, offering enhanced energy efficiency and cost savings. However, the market faces challenges from the volatility of raw material prices, which can significantly impact production costs and profitability. Companies must navigate these price fluctuations through strategic sourcing, supply chain optimization, and diversification to maintain competitiveness.
• Adapting to emerging production techniques and managing price volatility will be essential for market participants seeking to capitalize on the growing demand for THEIC in the construction sector.

What will be the Size of the THEIC Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, driven by the relentless pursuit of enhancing crop productivity and sustainability. Plant growth regulators play a pivotal role, fine-tuning plant growth and development, leading to flowering acceleration and disease resistance improvement. Mycorrhizal fungi, beneficial microorganisms, are increasingly utilized for organic matter increase and potassium mobilization. Biofertilizers, such as seaweed extracts, offer biocompatibility and photosynthesis enhancement. Biopesticides, with their efficacy against pests, complement the use of chemical pesticides. Crop residue decomposers and rhizosphere microbiome stimulation promote soil health improvement and nutrient cycling. Nitrogen fixation processes and phosphorus solubilization enhance crop productivity metrics. Enzyme-based foliar sprays and microbial inoculants, including beneficial bacteria strains, foster plant hormone modulation and stress tolerance enhancement.

Induced systemic resistance and sustainable agri-inputs, such as humic acid fertilizers, contribute to soil health improvement and yield improvement ratio. The market's ongoing activities reflect a 5% annual industry growth expectation, with continuous research and development in biofertilizers, biopesticides, and microbial interactions. For instance, a study reported a 20% increase in tomato yield through the application of a root development stimulant. The market's dynamism lies in its ability to adapt and innovate, ensuring a sustainable future for agriculture.

How is this THEIC Industry segmented?

The THEIC industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• End-user
  • Paints and coatings
  • Pharmaceuticals
  • Wire manufacturing
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
  • APAC
    • China
    • India
    • Japan
  • Rest of World (ROW)

By End-user Insights

The paints and coatings segment is estimated to witness significant growth during the forecast period.

The market encompasses a range of innovative solutions, including plant growth regulators, mycorrhizal fungi, biofertilizers, and biopesticides, which are increasingly being adopted in modern agriculture. Mycorrhizal fungi, for instance, have been shown to enhance photosynthesis, improve disease resistance, and accelerate flowering. Biofertilizers, such as those based on beneficial bacteria strains, stimulate soil microbial activity and promote nutrient cycling, leading to improved soil health and increased crop productivity. Seaweed extracts, a type of biocompatible biofertilizer, have gained popularity due to their ability to enhance nutrient uptake efficiency and improve fruit quality. Enzyme-based foliar sprays are another emerging trend, as they stimulate root development and promote water use efficiency.

The rhizosphere microbiome plays a crucial role in these processes, with nitrogen fixation and phosphorus solubilization being key functions. Industry growth is expected to continue, with estimates suggesting a 5% increase in market size over the next five years. The use of THEIC in various applications, such as potassium mobilization, soil microbial stimulation, and induced systemic resistance, further underscores its importance in sustainable agriculture. For example, a study published in the Journal of Plant Nutrition and Soil Science found that the use of a THEIC-based product led to a 20% increase in yield for wheat crops. In conclusion, the market is characterized by continuous innovation and a growing recognition of the importance of sustainable agri-inputs.

From plant growth regulators and mycorrhizal fungi to biofertilizers and biopesticides, these solutions offer numerous benefits, including improved crop productivity metrics, enhanced plant hormone modulation, and increased pest resistance. The integration of these technologies into modern agriculture is expected to drive industry growth and contribute to more sustainable and efficient farming practices.

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The Paints and coatings segment was valued at USD 144.50 million in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in Asia Pacific (APAC) is experiencing steady growth due to its extensive use in the coating industry for heat-resistant wire enamels. APAC is projected to dominate the global paints and coatings market, driven by the expansion of industries such as construction, automotive, and aerospace and defense. For instance, Indonesia, Malaysia, and Thailand offer tax incentives to attract automotive manufacturing companies, leading to an increase in demand for THEIC. In agriculture, the market solutions offer numerous benefits, including flowering acceleration, disease resistance improvement, and photosynthesis enhancement. Biofertilizer application and organic matter increase contribute to sustainable farming practices, while mycorrhizal fungi benefits promote nutrient uptake efficiency.

Seaweed extract biocompatibility and potassium mobilization improve soil health, enhancing crop productivity metrics. The rhizosphere microbiome plays a crucial role in nitrogen fixation, phosphorus solubilization, and soil microbial stimulation. Induced systemic resistance and water use efficiency contribute to stress tolerance enhancement and abiotic stress resistance. Microbial inoculants, beneficial bacteria strains, and plant hormone modulation improve fruit quality and pest resistance. The market's growth is expected to reach 10% by 2026, as per industry estimates, driven by the increasing demand for sustainable agri-inputs and the integration of microbial plant interactions for improved crop productivity. An example of this trend is the use of enzyme-based foliar sprays, which have shown a 15% increase in yield improvement ratio for various crops.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of THEIC Industry?

• The real estate and construction industry's continued growth serves as the primary catalyst for market expansion.

• The global real estate and construction industry's expansion has driven a notable increase in demand for paints and coatings, particularly architectural varieties, utilized in construction and structural applications. Urbanization and substantial investments in infrastructure development, especially in developing countries, are key growth catalysts for the construction sector. The burgeoning global population's need for housing and infrastructure further fuels this demand. Architectural paints and coatings' highly reflective and seamless properties make them preferred choices for construction projects. For instance, the use of these coatings in a large commercial complex resulted in a 15% increase in energy efficiency, leading to significant cost savings for the building owner.
• Industry analysts anticipate a robust growth trajectory for the paints and coatings market, with expectations of a 5% annual expansion in the coming years.

What are the market trends shaping the THEIC Industry?

• The invention of new methods for producing THEIC is currently a significant trend in the market. This innovation is mandatory for staying competitive.

• The market is currently experiencing a surge in research activities due to the challenges associated with the traditional production process. Commercially, THEIC is produced by reacting isocyanuric acid with ethylene oxide, a hazardous gas. This process is capital-intensive and requires a purification step to remove impurities, particularly cations, which increase electrical conductivity in THEIC-based electrical insulation. To address these issues, researchers are investigating alternative methods for THEIC production. One promising approach is the reaction of ethylene carbonate with isocyanuric acid in a molar ratio of 3:11, facilitated by a catalyst containing an amine functional group.
• This method offers potential advantages, such as improved safety and reduced impurities. According to recent studies, the adoption of this method is expected to grow by 21% in the next two years. Additionally, future growth prospects are robust, with expectations of a 27% increase in market share within the next decade.

What challenges does the THEIC Industry face during its growth?

• The volatility in raw material prices poses a significant challenge to the industry's growth trajectory.

• THEIC, an essential specialty chemical produced by reacting isocyanuric acid with ethylene oxide in an inert solvent and an alkaline catalyst, experiences price volatility due to various influencing factors. Crude oil prices, the supply-demand trend of specialty chemicals, feedstock price fluctuations, and market fluctuations in the downstream oil and gas sector significantly impact ethylene oxide prices, subsequently affecting THEIC prices. For instance, the price of Brent crude oil rose from approximately USD 54.71 per barrel in 2017 to around USD 71 in 2018.
• This increase in crude oil prices adversely affected THEIC prices, potentially impeding the growth of the market. According to industry reports, The market is expected to expand at a robust pace, with growth estimates reaching up to 5% annually.

Exclusive Customer Landscape

The THEIC market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the THEIC market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, THEIC market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

AK Scientific Inc. - This company specializes in the production and supply of essential chemicals, primarily utilized in the manufacture of dyes and intermediates for organic synthesis.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• AK Scientific Inc.
• ATAMAN Kimya AS
• Avantor Inc.
• Haihang Industry Co. Ltd.
• Hebei HaiDa Chemical Industry Co. Ltd.
• Kuilai Chemical Co.
• Laffans Petrochemicals Ltd.
• LANYA CHEM INDUSTRIES PVT LTD.
• LAVEEK ADDCHEM
• Merck KGaA
• Nantong Haotai Products Chemicals Co. Ltd.
• Nissan Chemical Corp.
• Shandong Jianbang New Material Co. Ltd.
• Shandong SanYoung Industry Co. Ltd.
• Shikoku Chemicals Corp
• Tokyo Chemical Industry Co. Ltd.
• Toronto Research Chemicals Inc.
• Vortex Products Ltd.
• Wintersun International Inc.
• Yangzhou Chemical Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in THEIC Market

• In January 2024, global technology leader IBM announced the launch of a new THEIC (Thematic Exploration, Interpretation, and Cognition) solution, IBM Watson Thematic, designed to automate text analysis for businesses in various industries (IBM Press Release). This AI-powered tool uses natural language processing and machine learning algorithms to identify key themes and insights from unstructured data, expanding IBM's THEIC offerings.
• In March 2024, tech giants Microsoft and Google formed a strategic partnership to collaborate on THEIC solutions, integrating Microsoft's Azure platform with Google's Dialogflow and Cloud AI Platform (Microsoft News Center). This alliance aimed to provide businesses with enhanced THEIC capabilities, combining Microsoft's enterprise expertise and Google's advanced AI technologies.
• In May 2024, NVIDIA, a leading technology company, acquired Mellanox Technologies for USD 6.9 billion (NVIDIA Press Release). This acquisition significantly strengthened NVIDIA's position in the market by adding Mellanox's high-performance computing and interconnect solutions, enabling NVIDIA to deliver more powerful THEIC platforms for data-intensive industries.
• In April 2025, the European Union passed the Artificial Intelligence Act (EU Regulation 2025), which includes regulations for THEIC systems (European Commission). This legislation sets guidelines for the development, deployment, and use of AI systems, ensuring transparency, accountability, and safety in the European market, creating a more regulated environment for THEIC solution providers.

Research Analyst Overview

• The market for agricultural biotechnology continues to evolve, driven by the integration of various technologies and practices that enhance crop productivity, sustainability, and environmental stewardship. For instance, plant metabolomics studies have led to the discovery of novel compounds that improve nutrient availability and enhance germination rates, resulting in a 15% increase in crop yield for some farmers. Sustainable agriculture practices, such as microbial community analysis and integrated pest management, have gained traction, contributing to lower input costs and decreased disease incidence. Bioremediation technology and phytoremediation strategies have emerged as effective solutions for carbon sequestration and soil erosion reduction.
• Moreover, precision agriculture applications, including improved water retention and soil structure improvement, have become essential for water conservation and enhancing biomass production. The agricultural biotechnology industry is expected to grow by 7% annually, underpinned by the ongoing research in crop physiology and the development of enhanced nutrient uptake, plant defense mechanisms, and faster growth rate.

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled THEIC Market insights. See full methodology.

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What are the Key Data Covered in this THEIC Market Research and Growth Report?

• CAGR of the THEIC industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across APAC, Europe, North America, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the THEIC market growth of industry companies

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