$3.98bn Ethanolamines Market Forecast Showing 4.1% CAGR to 2024 | Top Key Players - Huntsman Corporation, INEOS, LyondellBasell, SABIC, AkzoNobel, BASF, The Dow Chemical Company
Agrochemicals, surfactants, natural gas, cement processing and chemical intermediates are the major driving application segments. Herbicides and surfactants generated approximately USD 1.5 billion in global revenue and are likely to be the major application segments for the ethanolamine market size in the coming years.
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Moreover, positive supply outlook on ethylene oxide is expected to stabilize ethanolamines market price trends. Surfactants and herbicides together accounted for approximately USD 1.5 billion of the global ethanolamines market share with more than 4% growth target. Gas treatment, chemical intermediates and cement are also expected to show a favorable and steady growth in the coming years. Gas treatment is expected to be driven by Middle East (majorly the GCC countries) and Latin America due to high demand for gas sweetening agents in the near future.
o Ethanolamines Product Analysis (Volume, Kilo Tons & Revenue, USD Million; 2013 - 2024)
o Ethanolamines Application Analysis (Volume, Kilo Tons & Revenue, USD Million; 2013 - 2024)
• Chemical Intermediates
• Gas Treatment
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Diethanolamines (DEA) and triethanolamines (TEA) are projected to be the major product segments in the ethanolamines market. DEA are majorly used in the manufacture of cosmetics, detergent and textile specialties, wax and other polish, in agrochemicals, as petroleum demulsifiers, coating emulsifiers, soluble oils and as corrosion inhibitors.
The Ethanolamines Market is set to grow from its current market value of more than $2.79 billion to over $3.98 billion by 2024; as reported in the latest study by Global Market Insights, Inc. Government subsidies and growing demand for agrochemicals, surfactants, and natural gas are major will drive global ethanolamines market size. This trend is likely to continue over the duration of the forecast period and the market is likely to grow rapidly.
TEA are used as intermediates in surface active agents, bathroom products, cement additives, cutting oils, photographic film developing, corrosion inhibitors, as dispersant for dyes, shellac, rubber latex and casein; and also as sequestering agents. With a wide range of applications, these products have exhibited tremendous demand and are likely to maintain a significant ethanolamines market share over the next decade.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
3. China Petroleum & Chemical Co., Ltd.
4. Huntsman Corporation
8. Sintez OKA LLC
9. The Dow Chemical Company
10. Thai Ethanolamines Co. Ltd.
Browse key industry insights from the report, “Ethanolamines Market” in detail along with the table of contents:
Key insights from the report include:
• Diethanolamines and triethanolamines are likely to show relatively rapid growth in the ethanolamines product market and accounted for over 70% of the total ethanolamines demand by product in 2015.
• U.S. ethanolamines market size will surpass USD 800 million by 2024, and represents the majority of North America revenue generation.
• Asia Pacific market share will grow to over 40% by 2014 and will be driven by demand from China, India, ASEAN and many agricultural sectors in the region.
• Strong integration trends across the value chain along with fragmented market with market consolidation within a few players is likely to increase the competition among major players and drive growth.
• The Dow Chemical Company, SABIC, INEOS Group Ltd., LyondellBasell Industries Holdings B.V., Huntsman Corporation, China Petroleum & Chemical Corporation and BASF-YPC Company Limited are some of the major companies operating in the industry. Growth strategies center around product diversification and penetration into new or untapped applications in order to reach a wider customer base and to ensure considerable portfolio.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Ethanolamines are organic amino alcohol manufactured by the reaction between ethylene oxide and ammonia. Three types of ethanolamines are produced commercially – monoethanolamines (MEA), diethanolamines (DEA), and triethanolamines (TEA). Production of MEA, DEA, and TEA depends on the number of ethylene oxide molecules reacting with single molecule of ammonia. Chemical properties of ethanolamines combine properties of both amines and alcohols. Thus, the versatile chemical features of ethanolamines enable its usage
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