Ethanolamines Market to Gain Traction from Rising Furnishing Needs in Developing Regions

Introduction:
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.

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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.

Ethanolamines – Insights
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.

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.

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.

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Diethanolamines segment is expected to be the fastest growing application area n the ethanolamines market
Among product type, diethanolamines segment is expected to be the fastest growing product in the ethanolamines market over the forecast period. This is due to its wide applications in the manufacturing of herbicides as raw materials. Glyphosate is used as herbicides to kill weeds and grasses and the demand for it is high from agriculture industry, owing to increasing demand for diethanolamines. Moreover, aqueous solution of diethanolamines are also used as gas scrubbing agents to treat natural gas in refinery and petrochemicals industry. This drives growth of the segment in the 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.

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