Polyetheramine Market worth 1,074.0 Million USD by 2022 | Key Players include Huntsman Corporation, BASF SE, and Wuxi Acryl Technology Co. Ltd

According to recent market research "Polyetheramine Market by Type (Monoamine, Diamine, and Triamine), Application (Epoxy Coating, Polyurea, Adhesives & Sealants, Composites, and Fuel Additives), and Region - Global Forecasts to 2022", The global polyetheramine market was valued at USD 625.8 Million in 2016 and is projected to reach USD 1,074.0 Million by 2022, at a CAGR of 9.3% from 2017 to 2022. The market is driven by the growing trend of renewable & eco-friendly energy generation and continuous improvements in the construction industry.

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This report estimates the market size of polyetheramine on the basis of type, application, and region, in terms of value and volume. The global polyetheramine market is projected to grow at a CAGR of 9.3%, from 2017 to 2022, in terms of value. The growing trend of eco-friendly & renewable energy generation and continuous improvements in the construction are the major drivers for the polyetheramine market. The increasing usage of polyetheramine in wind energy, building & construction, and automotive & transportation industries owing to its excellent fatigue resistance, burst resistance, flexibility, high wear & tear resistance, and other physical properties is projected to drive the global polyetheramine market.

Manufacturers have been increasingly focusing on sustainability related to bio-based polyetheramine and production processes and property enhancements during the past five years. Developments related to eco-friendly and high performance polyetheramine are expected to lead to an increase in the demand for polyetheramine over other materials.

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Investments & expansions, partnerships, and new product launches were the key strategies adopted by industry players to achieve growth in the polyetheramine market between 2012 and 2016. The key players, such as Huntsman Corporation (U.S.) and BASF SE (Germany), have adopted these strategies to develop their businesses, globally. Increasing demand for advanced coatings, improving living standards of populations, and the use of composites in wind energy blades have led to a rise in the demand for polyetheramine.

Huntsman Corporation is a major player in the polyetheramine market. The company's wide range of business segments provides an added advantage to the company's profit margin, which enables it to compensate losses from low performing business segments and enables investments in strategic expansions and R&D activities. The performance products business segment includes polyetheramine products. The company earned around 24% of its revenue from performance products business segment in 2015 and is planning to invest further in this segment to enhance its sales globally. The company follows growth strategies such as capacity expansions and investing in R&D activities to meet the growing demand, improve product cost competitiveness, and enhance its product portfolio for new applications to cater to the market. In May 2015, Huntsman Corporation expanded its production capacity of Conroe chemical plant, which has polyetheramine manufacturing facility.

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BASF SE is another major player in the polyetheramine market. Europe accounted for 44% of the overall company revenue in 2015. The chemical business segment of the company manufactures polyetheramine for various applications and end users. This business segment earned around 22% of its revenue in 2015. The company's business strategy mainly revolves around its targets to increase global reach, enhance revenue, and launch innovative solutions through its products. As a part of its growth strategy, the company plans to establish new production facilities and expand its existing plant capacities which could enable the company to take advantage of the opportunities in the high growth polyetheramine market. In April 2016, BASF SE inaugurated a new plant to produce specialty amines in the Nanjing Chemical Industry Park in Nanjing, China, as part of a move to open first specialty amines plant in Asia-Pacific. This expansion is expected to meet the growing market demands of polyetheramine in personal care, construction, wind energy, and coatings sectors.

Apart from the above mentioned market players, Wuxi Acryl Technology Co., Ltd. (China), Clariant (Switzerland), Yangzhou Chenhua New Materials Co., Ltd (China), and IRO Surfactant Co., Ltd. (China) are the other important players in this market.

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