Analysis of Ethanolamines Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global sales of the Ethanolamines Market in 2021 were held at US$3.1 Bn. With 4.1%, the projected market growth during 2022 - 2032 is expected to be significantly higher than the historical growth.
Monoethanolamine is expected to be the highest revenue-generating category, projected to register an opportunity of 3.7% CAGR 2022 – 2032.
historically, from 2017 to 2021, the market value of the Ethanolamines Market increased at around 4.8% CAGR.
Global Market CAGR (2022-2032)
Global Market Size (2022)
US$ 3.2 Bn
Global Market Size (2032)
US$ 4.8 Bn
U.S. Market CAGR (2022-2032)
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With the increased use of ethanolamines by end-use sectors including detergents, herbicides, and textiles, the market expansion is expected to be driven by increased demand in the agricultural sector.
Ethanolamines are commonly exploited as a raw material in the production of solvents, polishes, and medications. Demand for building chemicals and protective coatings for metal shielding is anticipated to grow as the application is then used to a greater degree. Over upcoming years, anticipated growth in surfactant used in the United States and Western Europe is likely to drive the market expansion.
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Over the forecast years, volatile raw material costs are expected to stymie the market expansion and provide a challenge to industry participants. The price of ammonia has been rising in the chemical commodities market, which has a direct impact on the overall price of amines.
Due to production expansions and increased expenditures, the industry is suffering from an excess of raw materials. The industry's development is expected to be hindered by increased weed resistance, which will reduce the demand for glyphosate.
Besides, stringent restrictions and health concerns created by the ill effects of these substances on human well-being are two key hurdles facing the global market. To prevent contamination from carcinogenic nitrosamines, the European Commission restricted the use of DEA in cosmetics.
Medical research has been undertaken to see how this chemical affects the human liver, and in the last decade, correlations to liver cancers have been discovered. This restricts the use of these compounds in a variety of applications, and viable alternatives have emerged at the very same time.
Rapid industrialization in the Asia Pacific especially in countries like India and China is projected to drive market growth throughout the forecast period. Overall Asia pacific is predicted to grow at a faster pace throughout the projected timeframe due to the strong infrastructural growth, and rising agrochemical and surfactant demand.
In the forthcoming years, low-cost production, particularly in India, is expected to be a significant driver for regional market growth. Demand in the area is likely to be driven by manufacturing industry expansion and growing income levels in countries like Vietnam and Thailand. Because of significant demand from end-use sectors such as care and hygiene products, detergents, and herbicides, the market in North America is expected to rise rapidly.
Due to market concentration in end-use sectors, the market in Europe is projected to develop at a moderate rate during the next seven years. Increased use of agrochemicals and herbicides in the area is expected to boost industry growth throughout the forecast period.
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U.S. Ethanolamines Market Analysis
The United States is expected to account for the largest market globally, accounting for US$ 1.7 Bn by the end of 2032. Along with China, the United States is a key ethanolamine user.
The market for ethanolamines is likely to benefit from increased technology and the advancement of new applications. Due to increased household consumption from end use sectors in developing countries such as India and China there is tremendous growth in the upcoming years.
U.K. Ethanolamines Market Analysis
The market in the U.K. is expected to surge at a CAGR of 3.1% during 2022 – 2032. The market in the country is expected to reach a valuation of US$ 200 Mn, registering an absolute dollar opportunity of US$ 100 Mn during 2022 – 2032.
China Ethanolamines Market Analysis
In China, the market is projected to reach a valuation of US$ 300 Mn by 2032. The market in the country is expected to gross an absolute dollar opportunity of US$ 100 Mn during 2022 – 2032.
Monoethanolamine is expected to account for a CAGR of 3.7% during the forecast period. Ethanolamines are being used to make bath foams, liquid soaps, and shampoos in the personal care products and cosmetics business.
CO2 capture is working on optimizing CO2 absorption utilizing amines mostly monoethanolamine in order to reduce energy consumption and enhance absorption efficiency. The increased demand for acid gas removal, such as Hydrogen sulfide from natural gas, olefins cracker output, and refinery streams, is driving up Monoethanolamine demand.
The Agriculture end-user sector is expected to be the prominent end-user of ethanolamines, expected to register a CAGR of 3.9% by the end of 2032. Growing agrochemical demand from agricultural operations, as well as the need for various cleaning procedures in a variety of end-user sectors, are among the causes for these markets to expand the fastest over the projection period.
Despite the fact that the new market is overcapacity, the development and installation of new manufacturing plants in various countries have been reported to result in significant market growth in the coming years. Innovative uses, such as wood preservation and agricultural chemical manufacture, are opening up new avenues for ethanolamine production companies.
Ethanolamine also has important applications in corrosion inhibitors for metal shielding and construction chemicals. These compounds are mostly used to make surfactants, which are used in a variety of products such as detergents, emulsions, fabric softeners, paint, ink, adhesives, cosmetics, and biocides.
Ethanolamines are utilized in the manufacture of metalworking fluids and as an antifreeze component in metalworking lubricants. As steel production has increased in recent years, the metallurgy and metalworking industry is supporting market growth.
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Some of the key companies in the market include Huntsman Corporation, Dow Chemical Corporation, CNPC, BASF, Alkyl Amines Chemicals Ltd., Thai Ethanolamines Co., Daicel Chemical Industries, INEOS Oxide Ltd., Fushun Beifang Chemical Co. Ltd., Celanese Corporation and Akzo Nobel.
Some of the recent developments in the Ethanolamines Industry are:
The collaborators will increase ethyleneamines, ethanolamines, propionic acid, propionic aldehyde, and purified ethylene oxide manufacturing capacity, as well as construct a new tert-butyl acrylate factory. For a long time, SINOPEC and BASF have worked closely together, diligently implementing relevant national and local government requirements to speed up the transition and eco-friendly advancement of the petrochemical industry, continuously optimizing the industrial structure, and promoting the further augmentation of the industry value chain to the downstream.
Similarly, more recent developments related to companies in Ethanolamines Market services have been tracked by the team at Fact.MR, which are available in the full report.
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The global market is worth more than US$ 3.1 Bn at present.
The value of the Ethanolamines Market is projected to increase at a CAGR of around 4.1% during 2022 – 2032.
The market in the US is projected to expand at a CAGR of around 3.9% during 2022 – 2032.
The demand for building compounds and protective coatings for metal protection is predicted to shape the growth of the Ethanolamines Market as the application scope expands.
The value of the Ethanolamines Market increased at a CAGR of around 4.8% during 2017 – 2021.
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