Ethanolamines Market to Witness a Pronounce Growth by 2025

Ethanolamines are colorless, viscous organic compound with molecular formula HOCH2CH2NH2. These are used as a feedstock in the manufacture of Monoethanolamines (MEA), Diethanolamines (DEA) and Triethanolamines (TEA), which finds wide application in the production of emulsifiers, detergents, polishes, chemical intermediates, corrosion inhibitors and pharmaceuticals.

On the basis of application, the global ethanolamine market can be segmented as surfactants, herbicides, chemicals intermediates, textiles, gas treatments, gas treatment and metal treatment. Herbicides segment is expected to witness highest growth rate during the forecast period, followed by textile and surfactants. Other major applications of ethanolamine are in the field of corrosion inhibitors for metal protection and construction chemicals. These chemicals are largely used in the production of surfactants, which finds wide applications in detergents, emulsions, fabric softeners, paints, inks, adhesives, cosmetics, biocides, among others. Surfactants application segment dominated the ethanolamines market in 2016.

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Ethanolamines are also used in various cosmetics and personal care industry for manufacturing of bath foams, liquid soaps and shampoos. However, the use of diethanolamines in cosmetics had banned by The European Commission in order to lower the contamination from carcinogenic nitrosamines. Also, many studies prove the ill-effects of this chemical on liver and links have been found to liver tumors in the past decades. According to U.S. Department of Health and Human Services -- NIH Publication No. 92-3343, in October 1992, proves the ill effects of diethanolamines on liver and also links have been found to liver tumor in past decades.

Construction industry uses triethanolamines, which is used as cement grinding aids and performance enhancers in order to reduce the energy consumption and to improve the quality of cement. Increasing infrastructure development in emerging economy such as China, India, Brazil, UAE and Saudi Arabia is expected to boost the demand for triethanolamines application segment, which in turn is increasing the demand for ethanolamines during 2017-2025. For instance, as per statistics released by India Brand Equity Foundation (IBEF)—a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India—the Indian government plans to invest US$ 376.53 billion in infrastructure development over the following three years.

The global ethanolamines market size is estimated at US$ 2.99 billion (revenue) and 1840.96 kilo tons (volume) in 2016 and is expected to expand at a CAGR of 4.4% in terms of revenue and 3.6% in terms of volume during the period 2017 – 2025.

Diethanolamines has emerged as the fastest growing application area for ethanolamines

Diethanolamines product segment is expected to be the fastest-growing product in the ethanolamines market over the forecast period. The diethanolamines is largely used as a raw-material to manufacture herbicides which is used as an agricultural chemicals. Glyphosate is used as herbicides in order to kill weeds and grasses, which finds huge demand from agriculture industry owing to the increase in demand for diethanolamines. Moreover, aqueous solution of diethanolamines is also used in the treatment of natural gas in refinery and petrochemicals industry as a gas scrubbing agents. This in turn, positions diethanolamines as the fastest-growing derivative in ethanolamines market.

Regional Insights

Asia Pacific is the largest market for ethanolamines in the past and the trend is expected to continue in the following years due to large amount of domestic consumption in various end use industries, coupled with cheap production cost and rapid economic growth across the region. North America is also expected to witness significant growth due to its large applications in gas sweetening and cleaning process in various downstream process industries. For instance, North America is experiencing wide exploitation of shale gas reserves, which in turn is increasing the supply of natural gas in the region and consequently results in increase the demand for ethanolamines in the treatment of natural gas.

Multinational players need to tap potential addressable market in the emerging regions with the help of geographical expansion

Major players in the global ethanolamines market include The Dow Chemical Company, SABIC, LyondellBasell Industries N.V., Huntsman Corporation, China Chemical & Petroleum Corporation, BASF SE, Sintez OKA LLC, Daicel Chemical industries Ltd. and Celanese Corporation.

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This release was published on openPR.