By value, Fact.MR has projected close to 5% CAGR for triethanolamine sales during 2021-2031. In terms of volume, demand is expected to increase at around 4% CAGR over the same period. The market is slated to be valued at around US$ 1.7 Bn by 2031.
Demand for 99% purity grade triethanolamine is expected to remain high, gaining 144 BPS over the next ten years. The East Asia market is projected to account for most of the consumption of triethanolamine, with demand for triethanolamine in skincare products rising.
Report Also Addresses:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Triethanolamine and How to Navigate
- Recommendation on Key Winning Strategies
Sales of Triethanolamine from 2016 to 2020 Vs Market Outlook for 2021 to 2031
Over the past half-decade, the global triethanolamine (TEOA) market expanded at a CAGR of 1.7% (2016-2020). Extensive consumption of personal care products and demand for reagent grade compound in several application has escalated the market value of triethanolamine.
Key factors responsible for market growth are:
- Surfactant production growth
- Range of cosmetic product formulation
- Organic additives in the grinding of cement clinkers
- Strong base with great pH balancing capability
- Rising adoption in several unexplored applications
Globally, cost of personal care and cosmetic products has doubled in the past few years, which can be ascribed to rising expenditure on research & development activities conducted by leading players in the industry.
The personal care industry is expected to be valued over US$ 460 Bn by 2031. More than 57% of revenue generated by this industry comes from the sale of triethanolamine-based products.
Due to its flexible property, demand for triethanolamine in detergent manufacturing has gained popularity, along with several other applications. In terms of value, triethanolamine utilization is set to increase at 5% CAGR, and reach US$ 342 million by 2031.
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What are the Key Opportunities for Triethanolamine Manufacturers?
Due to increasing demand from various end-user industries in developing economies, most chemical manufacturers are experiencing high volumes of sales. Developing Asian nations such as China and India are witnessing high demand for triethanolamine. Owing to high-population countries and rapid urbanization, production of triethanolamine has been stimulated in these countries.
Requirement of triethanolamine in making pesticides has gained traction in several developing economies, including India, China, Malaysia, Brazil, Argentina, Turkey, and South Africa.
Furthermore, growth of the textile industry has opened up new growth opportunities for textile chemical manufacturers across the globe. Fast-growing retail chains, favorable demographics, and supportive government policies and rising disposable income, especially in South Asian countries such as Bangladesh, India, and Thailand is leading to fast growth of the textile market. Owing to volume increase in the sales of clothing, demand for triethanolamine from the textile industry has increased.
Rising demand for precursors and reagents from end-use industries such as textiles and personal care creates enormous opportunities for manufacturers of triethanolamine.
What are the Restraints that Triethanolamine Suppliers Face?
Existence of alternate products with the same properties is minimizing demand for triethanolamine. Alternatives such as mono-ethanolamine and di-ethanolamine particularly restrict the requirement of triethanolamine. All these products are sub-products of ethanolamine, and have almost the same composition, which leads to their increasing utilization.
Apart from mono and di-ethanolamine, 2-amino-2-methylpropanol, and other amino alcohols are also utilized as a replacement of triethanolamine. For applications such as corrosion protection, grease removal, and alkalinity at low pH, these chemical compounds are witnessing growing demand.
Which Region Offers the Largest Opportunity for Sales of Triethanolamine?
With an absolute dollar opportunity of around US$ 288 Mn, East Asia expected to be the most lucrative market for triethanolamine suppliers. The region is expected to witness double-digit growth during 2021-2031.
China and Japan are witnessing for high volume production and consumption of cosmetics and skincare products. Additionally, both countries come under the world’s top 10 exporters’ list, and export over US$ 7.3 billion in terms of dollar value across the globe.
After East Asia, North America, led by the U.S., is the second-highest region witnessing high consumption of triethanolamine, and is considered a mature market. The market in North America is poised to expand at close to 4% CAGR, and responsible for over 1/5 of global market share in terms of value.
Europe is one of the largest consumers of textile products, and the presence of leading textile manufacturers makes the region more viable for production as well. Germany is responsible for 11% textile exports across the globe. Owing to the fact, Europe is also a prominent region for triethanolamine sales.
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How is Growing Personal Care Industry in Europe Expected to Drive Demand for Triethanolamine?
When it comes to beauty and cosmetics, one name that comes above all is France. The country is witnessing the highest manufacturing and export of cosmetic and skincare products, and is responsible for more than 16% of total exports of cosmetic and skin care products in Europe.
According to the Europe’s Personal Care Association, the region has the world’s largest personal care and cosmetic market, valued over US$ 97 Bn in retail sales in 2020. Apart from France, Germany, the U.K., Italy, and Spain contribute US$ 36 Bn in terms of domestic sales.
Strong production of personal care products in the region also provides impetus to the utilization of personal care ingredients such as triethanolamine.
Why is the Mature Triethanolamine Market in the U.S. Still Growing at Over 4% Annually?
In 2020, the U.S. accounted for over 16% share in the global market and more than 60% share in the North American market for triethanolamine. The U.S. population spends over US$ 375 Mn on cosmetic products every year, and the spending is expected to cross US$ 450 Mn by 2031.
Growing demand for cosmetics and personal care products is anticipated to drive the need for triethanolamine in the country over the short-run forecast period.
The country also manufactures a wide range of personal care and cosmetic products, and exports globally. American cosmetic brands are well-received across the globe, especially in developed economics that have witnessed huge penetration of American cosmetic products.
Aforementioned statistics speak strong of the triethanolamine market stance despite product maturity on the PLC curve.
What Makes China a Hub for Triethanolamine Demand?
China accounts for more than 60% of triethanolamine demand in East Asia, and in terms of value, it is expected to reach US$ 410 Mn by 2031. The country is leading the market in terms of both, consumption and production of triethanolamine.
Additionally, China is the largest manufacturer and exporter of textiles as well as agrochemical products, which is directly influencing demand for triethanolamine. Moreover, the country is the world largest producer of agrochemical products, and the agrochemicals industry in China is witnessing high volume consumption of triethanolamine. In the year 2020, China’s triethanolamine demand mounted to 150 KT for agrochemical production.
How is Growing Cement Production Driving Requirement for Triethanolamine?
In terms of value, demand for triethanolamine as a cement clinker is expected to expand at over 5% CAGR during the forecast period, and capture over 1/10 of global market share.
Top two leading countries accounts for over 40% of triethanolamine demand in the cement industry. Constant population growth and urbanization have led to growth of the construction industry. Increasing demand for infrastructure developments has led to a substantial increase in the use of construction materials, including cement and concrete.
Growing use of concrete and cement has helped increase the consumption of triethanolamine for cement manufacturing. Triethanolamine is one of the most widely chosen compounds for clinker grinding. Owing to rapid industrialization and urbanization, requirement for clinker grinding aids is growing, bolstering demand for triethanolamine as a grinding aid for cement.
Which Application of Triethanolamine Generates the Most Revenue?
Owing to the extensive cosmetics requirements among people globally, demand for triethanolamine for personal care and cosmetics production is expanding at a CAGR of 5%, and the application is expected to capture over 20% market share in terms of value by 2031.
Triethanolamine is an essential raw material for cosmetic formulations, mostly used in combination with fatty acids as emulsifiers for lotions, creams, shampoos, and skin cleaners.
Growing demand for makeup and facial products bolsters requirement for triethanolamine in making products such as mascaras, eye shadow and pencils, facial cleansers, and eye creams. It also finds use in perfumes, colognes, and bath oils for pH adjusting.
How Has COVID-19 Skyrocketed Sales of Triethanolamine?
The COVID-19 pandemic disrupted the world's personal care industry. In the first two quarters of 2020, market flow was weak, and a large number of retail stores were closed. The industry responded confidently to the crisis in a short period of time by switching the manufacturing of cleaning agents and sanitizers.
With growing demand for sanitizers, requirement for triethanolamine has gained traction. COVID-19 has significantly boosted demand for triethanolamine, as customers have started to spend exorbitantly on sanitizers and cleaning products.
Sudden demand surge for triethanolamine created a mild demand-supply gap in the first quarter of 2020; however, manufacturers soon ramped up production to meet this elevated demand. With disrupted distribution, manufacturers also increased their distribution reach to online channels.
An Adaptive Approach to Modern-day Research Needs
Majority of companies discussed in the report have focused on product launches and expanding their manufacturing units in developing regions. Strategies include innovation, collaborations with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks. Recent developments related to companies manufacturing triethanolamine have been tracked by the team at Fact.MR, which are available in the full report.
|Historical Data Available for||2016-2020|
|Market Analysis||US$ Mn for Value|
|Key Regions Covered||
|Key Countries Covered||
|Key Segments Covered||
|Key Companies Profiled||
|Pricing||Available upon Request|
Key Market Segments Covered
By Purity Level
- 99% Triethanolamine
- 98% Triethanolamine
- 85% Triethanolamine
- Triethanolamine for Research Purposes
- Triethanolamine for Commercial Purposes
- Triethanolamine as Additives
- Triethanolamine as Intermediates
- Triethanolamine as Surfactants
- Triethanolamine as Corrosion inhibitors
- Triethanolamine as Neutralizers
- Triethanolamine as Softening Agents
- Triethanolamine for Detergent Manufacturing
- Triethanolamine for Personal Care & Cosmetics
- Shaving Creams
- Cosmetic Creams
- Sun care products
- Triethanolamine for Textile Finishing
- Triethanolamine for Concrete Admixtures
- Triethanolamine for Agricultural Chemicals
- Triethanolamine for Photographic Emulsions
- Triethanolamine for Engineering/ Metal-working Fluids
- Triethanolamine for Rubber & PU Foams
- North America
- Latin America
- East Asia
- South Asia & Oceania
Triethanolamine Market - Scope of Report
A recent study by Fact.MR on the triethanolamine market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of triethanolamine.
The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies manufacturing triethanolamine, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of triethanolamine across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of triethanolamine during the forecast period. Price point comparison by region with global average price is also considered in the study.
Analysis on Market Size Evaluation
The market has been analyzed for each market segment in terms of volume (tons) and value (US$ Mn).
Market estimates at global and regional levels for triethanolamine are available in terms of “US$ Mn” for value and in “tons” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying the potential resources, considering the sales and distribution perspective in the global triethanolamine market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of triethanolamine market during the forecast period.
Country-specific valuation on demand for triethanolamine has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers of triethanolamine, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of triethanolamine has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
- FAQs -
Global market for triethanolamine is estimated to be valued at US$ 1.1 Bn in 2021, and progress at a compound annual growth rate of close to 5% over the next 10 years.
Triethanolamine market is expected to emerge for textiles and agrochemicals over the coming years. These two industries cumulatively account for over 25% market share.
The global triethanolamine market expanded at around 1.7% CAGR from 2016 to 2020, creating an absolute dollar opportunity of US$ 70.6 Mn globally.
Global triethanolamine industry has seen the development of advanced grades of triethanolamine with better formulation capability.
Upsurge in demand for detergent and cosmetic formulations is a key factor driving demand for triethanolamine. The textile and agrochemical sectors are prime movers for market growth.
Top 5 triethanolamine market players account for more than 60% of the total market share.
China, the U.S., Japan, India, and Saudi Arabia are the top 5 countries driving demand for triethanolamine.
North America is the second-highest market after East Asia. The region is expected to reach US$ 360 million at a 3.7% CAGR by 2031-end.
Europe is considered as a market with moderate demand, and the region is expected to register 3.2% CAGR and account for 14% market share by 2031.
China, Japan, the U.S., Russia, Germany, and South Africa are key producers of triethanolamine due to the presence of leading manufacturers in these countries.
China, Germany, and the U.S. are the top three exporters of triethanolamine. These nations have clusters of manufacturers with multiple production units.
Japan is one of the leading markets for triethanolamine, and accounted for more than 10% market share. South Korea is an emerging market for triethanolamine, and is expected to reach US$ 63.9 Mn in terms of value by 2031.
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