North America Ethanolamines Market to register significant gains over 2020-2024 | The Dow Chemical Company, INEOS Group Ltd., SABIC, LyondellBasell Industries N.V., Huntsman Corporation
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The Dow Chemical Company, INEOS Group Ltd., SABIC, LyondellBasell Industries N.V., Huntsman Corporation, China Chemical & Petroleum Corporation, BASF-YPC Company Ltd., Sintez OKA LLC
Diethanolamines are majorly used in the manufacturing of detergent, cosmetics, textile specialties, wax, polish and others. In agrochemicals, DEA is used as a petroleum demulsifies, corrosion inhibitors, coating demulsifiers, soluble oils. TEA finds application as cement additives, intermediates in surface active agents, cutting oils, bathroom products, photographic film developing, as dispersant for dyes, shellac, rubber latex, casein, corrosion inhibitors and as sequestering agents.
Gas treatment applications will show substantial growth due to high demand for gas sweetening agents from Middle East and Latin America region. Herbicides and surfactant applications together accounted for revenue generation of USD 1.5 billion for ethanolamines market players in 2017 and the segments are likely to grow at 4% CAGR up to 2024.
Expansive industrial applications will drive the demand for the compounds over the coming years. Estimates suggest that global ethanolamines market size will exceed USD 3.98 billion in terms of annual valuation by 2024.
Growing consumption of cosmetics and personal care products
With rapid urbanization and rise in disposable incomes, personal care product consumption is gradually increasing. Ethanolamines find wide range of application in manufacturing of personal care products and cosmetics, as cleansing agents or surfactants. They add dirt removing properties by dissolving grease and aid blending together of other important ingredients in a cosmetic product.
Ethanolamines also adjust the pH of a product which keeps it from denaturing when stored in a container and hence increases product shelf-life. Cocamide diethanolamine, that is made by reacting DEA with coconut oil to create a cleansing foam in bath products like hand soaps and shampoos. DEA is also used as a key ingredient in products like hair dye, due to their mild odor.
Growth of beauty & personal care sector as the fastest growing consumer market, reinforced by social media, internationality, and eCommerce will positively impact ethanolamines market demand over the coming years.
Robust demand in agrochemical applications
As a chemical intermediate, diethanolamines market are widely used in agrochemicals for the manufacturing of pesticides, to aid in boosting the pesticide’s ability to dissolve in water. Triethanolamines on the other hand are used as surfactant in agrochemicals, that allows pesticide dispersion into crops, which in turn easily targets on the crops.
Growing focus on increasing crop quality and yield will favor product adoption. In 2014, Asia Pacific ethanolamine market held 40% of the global share and is expected to showcase major growth rate on account of several agriculture economy-based countries in the region.
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Demand from industrial application worldwide
DEA and monoethanolamine (MEA) are fit for extensive range of industrial applications, such as gas treating and chemical manufacturing due to excellent emulsification properties. In the production of coating products, wax and polish, DEA acts as an emulsifier to boost mixing of ingredients and keep other materials from corroding. In gas treating processes for natural gas streams and refineries, DEA and MEA aid in elimination of contaminants from gasoline.
TEA is an excellent petroleum demulsifier, that quickly separate oil from water and other substances. It is used a cement additive that advance hardening or setting of cement. In addition, it acts as a corrosion inhibitor in zinc and steel material used in building & construction. Robust product consumption across industrial applications will favor industry growth.
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