Rising Demand from Asia-Pacific Countries Driving Polyetheramine Market

In 2015, the global polyetheramine market reached a value of $660.4 million and is projected to advance at a 10.5% CAGR during the forecast period (2016-2022). The market is witnessing growth due to the manufacturing of high-end quality products, high demand for polyetheramine from countries in Asia-Pacific, and rising demand for extensive range of applications. Polyetheramines are specialty amines utilized as curing agents in a varied range of applications including polyurea, oil field industry, epoxy, and polyurethane.

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When application is considered, the polyetheramine market is categorized into epoxy coating, composites, polyurea, fuel additives, adhesives and sealants, and others. Epoxy coatings accounted for the major volume share of the market during the historical period (2012-2015) and is predicted to dominate the market during the forecast period as well. Amines and Amine derivatives are the most diverse group of epoxy curing agents. The addition of polyetheramine results in harder films and increased reactivity of the curing system. Moreover, epoxy coatings are durable and thus can be used for a wide range of purposes.

The rising demand for polyetheramine from Asia-Pacific countries is a key driving factor of the polyetheramine market. The accelerated infrastructure development, increasing consumer spending, and rapid growth of economies are some factors resulting in the rising demand for polyetheramine from this region. Furthermore, several global companies are shifting their manufacturing facilities to Asia-Pacific as the region offers better investment opportunities and skilled labor and has abundant availability of raw materials. Moreover, because of expanding industrial development and strong consumer base, India is projected to create increased demand for polyetheramine products in the coming years.

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A key trend being observed in the polyetheramine market is that polyetheramine is a solution to major challenges in the oil & gas industry. Wellbore instability because of reactive shale hydration and swelling is a primary challenge in the oil & gas industry. Many approaches have been proposed to deal with the problem, however, among all these methods, polyetheramine is the best available technology for shale inhibition. High performance water-based drilling fluids, based on amine compounds, have been established and are being widely utilized around the world.

Some of the major competitors in the polyetheramine market include Huntsman Corporation, BASF SE, Yantai Minsheng Chemicals Co., Ltd., Yangzhou Chenhua New Materials Co. Ltd, Qingdao IRO Surfactant Co. Ltd., Wuxi Acryl Technology Co. Ltd, Zibo DexinLianbang Chemical Industry Co. Ltd., Clariant, and IRO Group Inc. among others.

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