Strategic Analysis Of Diethylenetriamine Market
Rising demand from end-use industries is expected to drive the diethylenetriamine market. End-use industries include automotive, construction, personal care, agriculture, oil & gas and other major industries. Developing countries, particularly in the Asia Pacific region are the major contributors to the rising building & construction industry. Industrial as well as residential construction in China, Latin America, Middle East, India and other developing regions are the highest contributors of the global building & construction industry revenue. Additionally, growing automotive industry globally is expected to boost the market growth. Automotive industry is witnessing tremendous growth in developing countries. Diethylenetriamine is used in the manufacture of various resins, lubricants and additives which are part of automotive industry. Furthermore, burgeoning oil & gas industry is further expected to boost the diethylenetriamine market. These serve as indispensable part of oil-field chemicals as they are mostly used as chelating agents and lubricants.
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However, environmental regulations regarding use of hazardous raw materials are expected to hamper the market growth for diethylenetriamine market. Several regulatory bodies such as EPA and OSHA also have stringent regulations about storage and transport of hazardous raw materials. In addition, availability and cost of raw materials is anticipated to be major hurdle for the growth of diethylenetriamine market. Development of bio-based polyamines is expected to provide opportunities for the players in the market. Furthermore, development of high quality and application specific products is expected to be an important opportunity to invest in the next few years. Diverse product development with wide range of applications would help the companies to maintain their market share. For instance, demand for diethylenetriamine based products that can be used in the manufacture of wind turbine blades will continue to expand at significant rate. Additionally, growth in end-use industries in developing economies of Latin America and Middle East are expected to provide immense opportunities in the next few years.
Asia Pacific accounts for the largest market for diethylenetriamine in terms of consumption and production. China is the largest contributor of the diethylenetriamine demand as it hosts all major end-use industries such as automotive, electronics, coatings, textiles and medical. Owing to rising manufacturing sector and industrialization the demand for diethylenetriamine has been increasing at steady pace in the region and is expected to grow at the fastest pace in the next few years. Developed economies such as North America followed Asia Pacific in terms of consumption. Europe is matured market in terms of consumption as compared to North America and Asia Pacific. Environmental regulations in the region are expected to hamper the consumption. Rest of the World is expected to grow steadily due to increasing demand from end-use industries.
AkzoNobel N.V., BASF SE, Diamines and Chemicals Ltd., Huntsman Corporation, and The Dow Chemical Company are some of the key manufacturers of diethylenetriamine, dominating the market.
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