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Triethylenediamine Market Size Forecast to Reach $230.2 Million by 2026

06-21-2021 10:10 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: IndustryARC

Triethylenediamine Market

Triethylenediamine Market

Triethylenediamine Market size is forecast to reach $230.2 million by 2026, after growing at a CAGR of 6.5% during 2021-2026, owing to the extensive usage of triethylenediamine as a catalyst to promote both gelling and blowing reactions in the production of flexible, semi-rigid, and rigid polyurethane foams. Triethylenediamine market is witnessing significant growth due to its highly reactive catalytic property. Diethylenetriamine and isocyanate application in various end-use industries have offered good momentum to the overall growth of triethylenediamine market share globally. The growth of the automobile and construction sector are the two most important end-use applications of polyurethane. Furthermore, the rise in urbanization and growing population is one of the key factors driving the construction market globally, which is substantially driving the triethylenediamine market industry growth during the forecast period.

Covid-19 Impact

Due to the Covid-19 outbreak, the automotive industry has been hit by factory closures, supply chain disruption, and a collapse in demand. The automotive industries are facing issues such as delays in receiving raw materials from the manufacturers due to the restriction on import and export of commodities. In addition to lower construction, the production of automobiles has been stopped, which in turn decreased the demand for polyurethane foams. According to the Society of India Automobile Manufacturers (SIAM), passenger vehicle sales declined by 51% to 143,014 units in March 2020 whereas the sales of commercial vehicles crashed by 88%. Associated General Contractors of America (AGC), anticipated that 40% of construction firms have had to lay off staff due to the Covid-19 outbreak, this, in turn, hampers the growth of the triethylenediamine market.

Full Report Link @ https://www.industryarc.com/Report/16986/triethylenediamine-market.html

Triethylenediamine Market Segment Analysis – By Product

Ethylenediamine segment held the largest share of more than 30% in the triethylenediamine market in 2020. Triethylenediamine are prepared by the reaction of ethylenediamine (EDA) in the presence of a zeolite catalyst, wherein the zeolite catalyst comprises one or more metals in oxidation states II, III, or IV as oxides. Ethylenediamine is a contact sensitizer capable of producing local and generalized reactions. Efficiency and cost-effectiveness are the major factors driving the use of ethylenediamine for the preparation of triethylenediamine.

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Triethylenediamine Market Segment Analysis – By Application

Polyurethane foams held the largest share of more than 25% in the triethylenediamine market in 2020. Triethylenediamines are extensively used as a catalyst in the production of flexible, semi-rigid, and rigid polyurethane foams as well as elastomers. Surging use of flexible polyurethane foams as cushioning material in a variety of consumer and commercial products including furniture, bedding, pillows, carpets, and mattresses drives the growth of the triethylenediamine market. Lightweight, water resistance, shock absorption, and resiliency make polyurethane foams suitable for packing sensitive equipment such as electronic circuit boards, jewelry, and delicate foods. Furthermore, an increase in the use of flexible polyurethane foams in the textile and fiber industries for making tents, life rafts, and handbags is also raising the demand for triethylenediamine.

Triethylenediamine Market Segment Analysis – By End-Use Industry

Transportation segment is projected to witness the highest CAGR of 7.5% in the triethylenediamine market during the forecast period. The surging demand for diethylenetriamine and polyurethane foams from the automotive, aviation, and marine sector is augmenting the market growth. Durability coupled with strength makes polyurethane foam ideal not only for cushioning purposes but also within the bodies of an automobile where they provide insulation against heat and noise of the engine. Polyurethane foams lower the environmental impact of vehicles by reducing the weight of the vehicle. This improves fuel efficiency and also lowers emission levels. According to the International Energy Agency (IEA) electric car, deployment has grown rapidly over the past ten years, with the global stock of electric passenger cars passing 5 million in 2018, an increase of 63% from the previous year. Thus increase in EV also increases the use of polyurethane foams for headrest, seats, armrest, etc. substantially boosting the demand for triethylenediamine for polyurethane formulation.

Triethylenediamine Market Segment Analysis – By Geography

Asia Pacific held the largest share of more than 40.8% in the triethylenediamine market in 2020, owing to the increasing adhesives, building & construction, automotive industry in the APAC region. Triethylenediamine is used as a base to crosslink the butyl rubber. The tensile strength of the rubber increases with increasing concentration of triethylenediamine. Surging use of butyl rubber in various applications including tubeless tires, inner tubes, sports-ball bladders, industrial gloves, seals and gaskets, etc. Butyl rubbers are also used as a patching material for membrane roofs and as a sealant for insulated windows. According to International Trade Centre (ITC), China’s import of butyl rubber increased from 63,824 tons in 2018 to 84,210 tons in 2019. Increasing construction activities and rising demand for automotive accelerates the use of butyl rubber which in turn drives the growth of the triethylenediamine market.

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Triethylenediamine Market Drivers

Increasing Oil & Gas Sector

Controlling corrosion and temperature is a big challenge in the oil and gas industry. The presence of water, acids, acidic gases, high levels of oxygen and brine all provide the perfect environment for corrosion. Triethylenediamines are used in formulation of corrosion inhibitors, which are used in the oil & gas industries. In addition, use of triethylenediamine as an additive for polyurethane rigid foam for pipe insulation also augments the market growth. According to International Association of Oil & Gas Producers (IOGP), gas production in Africa increased by 5% in 2018. The biggest producer was Algeria, with 92.3 billion cubic meters, equivalent to a 39% share of total volumes for the region. In 2018, Asia Pacific produced 7.6 million barrels of oil per day, 8% of the world’s total. China was the region’s largest producer, accounting for half of its oil. Other important Asia Pacific producers were India and Indonesia with a share of 11% each, Malaysia with 9%, Thailand with 6%, Australia with 5% and Vietnam with 4%. Thus, the flourishing oil and gas sector is expected to boost the demand for triethylenediamine.

Growing demand for polyurethane foams from building and constructions

Polyurethane foams do not absorb moisture and also behave as a thermal insulator owing to their use in various applications such as insulation sheets for refrigerators, fillings for beds and cushions, seals, and gaskets. According to the U.S. Department of Energy, heating and cooling account for about 56 percent of the energy use in U.S. homes every year. In order to maintain uniform temperature and lower noise levels, constructors prefer polyurethane foams that can be used in roofs, walls, and windows for insulation and air barrier sealants. Institute of Civil Engineers estimated that construction output will grow by 85% to $15.5 trillion worldwide by 2030. Also, according to the U.S Census Bureau, total construction spending in the U.S has increased by 6.03% from February 2018 and estimated to be 1,366,697 $Mn in February 2020. Thus increase in renovation and construction activities will bolster the demand for polyurethane foam which in turn aids the growth of the triethylenediamine market.

Triethylenediamine Market Challenges

Stringent Government Regulations On Use of Triethylenediamine

The growth of the triethylenediamine market will be slowed down due to stringent environmental regulations imposing restrictions on the use of hazardous substances like isocyanate and diethylenetriamine. Regulatory bodies such as the Environmental Protection Agency (EPA) and the Occupational Safety and Health Administration (OSHA) have been imposing strict regulations pertaining to the use of triethylenediamine as it poses certain risks. The transport and storage of triethylenediamine has also been a matter of scrutiny by regulatory agencies as triethylenediamine is very hygroscopic, Incompatible with strong oxidizing agents, strong acids, and highly flammable. Pure triethylenediamine is very toxic. Inhalation of triethylenediamine could cause severe irritation in the respiratory tract, which is characterized by shortness of breath, coughing and choking and anticipated to restrain the market growth during the forecast period.

Triethylenediamine Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the triethylenediamine market report. Major players in the triethylenediamine market are Matthey Process Technologies, W.R. Grace and Co, Evonik Industries AG, E. I. du Pont de Nemours and Company, Dorf Ketal Chemicals Llc, Borealis AG, Sinopec Corp., Royal, and Dutch Shell PLC, Shanghai GAOXIANG Chemical Co., Ltd. among others.

Key Takeaways

Asia Pacific dominates the triethylenediamine market, owing to the increasing demand and production of automobiles. According to OICA, in 2018 the production of light commercial vehicles has increased by 10.2 % in the APAC region.

Rising use of organic impregnating agent like polyurethane and diethylenetriamine over metallic impregnating agents may boost the growth of the market.

Due to the COVID-19 pandemic, the entire world has gone into a lockdown period due to which operations of various end-use industries such as oil & gas, adhesives are disruptively stopped, which is affecting the triethylenediamine market.

Related Reports :

A. Ethyleneamines Market
https://www.industryarc.com/Report/16439/ethyleneamines-market.html

B. Fuel Antioxidants Market
https://www.industryarc.com/Report/6353/Fuel-Antioxidants-Market-Research-Report.html

For more Chemicals and Materials Market reports @ https://www.industryarc.com/Domain/4/chemicals-materials-market-research.html

Venkat Reddy
Sales Director
Email: venkat@industryarc.com
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

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