CAGR 5.3% Analysis and Future Outlook of the Global Ethanolamines Market by 2023

Global Industry Analysis

A family of compounds known as ethanolamines (EAs) is utilised in numerous sectors. These are chemical substances that have functional groups for both alcohol and amine. They are utilised as emulsifiers, surfactants, solvents, and chemical intermediates among other things. The three most widely utilised ethanolamines (EAs) on the market are monoethanolamine (MEA), diethanolamine (DEA), and triethanolamine (TEA). Ethanolamines are mostly produced when ethylene oxide and ammonia combine. Because they can potentially replace numerous dangerous compounds, ethanolamines are a safer option in a number of sectors.

Market Size:

The global Ethanolamines market was valued at USD 2.81 billion in 2020 and is expected to reach USD 4.27 billion by 2023, growing at a CAGR of 5.3% from 2015 to 2023. The Asia Pacific is the largest market for ethanolamines, accounting for a significant share of the global demand.

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Alcoholamine functions as a weak base substance (chemical base that does not ionise fully in an aqueous solution). The second-most abundant head group component for phospholipids is ethanolamine. Additionally, messenger molecules like palmitoylethanolamide use ethanolamine.

Ethanolamine is also referred as a class of antihistamines including carbinoxamine, clemastine, dimenhydrinate, diphenhydramine and doxylamine. In 2012, more than one third of ethanolamines were used in the manufacturing of surfactants.

On the bases of organic compound in the ethanolamine, global ethanolamine market can be bifurcated into monoethanolamine (MEA), diethanolamine (DEA) and triethanolamine (TEA). On the bases of application ethanolamine market can be divided into herbicides, personal care industry, textiles, detergents, agrochemicals, gas treatment, metal cleaning, wood preservatives etc.

Herbicides are expected to dominate the consumption of ethanolamines in the forecasted period followed by, detergents, personal care and metal cleaning. other major application of ethanolamine are in the field of construction chemicals, corrosion inhibitors for metal protection. Majority of ethanolamine compound is used in the manufacturing of surfactants, which is expected to dominate the global market in the forecasted period.

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North America has the largest market share for ethanolamines substances, followed by Europe and Asia-Pacific. The U.S. and China are the largest consumer of ethanolamine substance globally and are expected to lead the market in the coming future. North America is expected to maintain its dominance in the forecasted period; Europe is expected to shoe average growth. However, Asia-Pacific region is expected to witness highest growth in the forecasted period owing to the increasing domestic demand from the end-user industries in the developing countries such as India and China.

Increasing demand from the end-user industries such as herbicides, detergent, and personal care industries is driving the global ethanolamines market. Additionally, increasing demand from the developing markets such as India and China paired with invention of new application in the field of wood preservation, construction chemicals corrosion inhibitors for metal protection is further expected to increase the global demand for ethanolamine substance. However, volatility of price associated with raw materials used for the manufacturing of ethanolamine is expected to hamper the growth, but at a very low level.

Low cost of production of ethanolamine substance especially in the emerging market such as India is influencing the ethanolamine manufacturing companies to invest more in this region. BASF and Dow Chemical Corporation lead the global manufacturing of ethanolamine.

Some of the other major companies involved in the manufacturing of ethanolamine in the global market are INEOS Oxide Ltd., Huntsman Corporation, China Petroleum & Chemical Corporation, Thai Ethanolamines Co., Ltd, Sinopec Shanghai GaoQiao Petrochemical Corporation, Akzo Nobel, Shijiazhuang Haisen Chemical Co., Ltd, Alkyl Amines Chemicals Ltd., Air Products and Chemicals Inc., Daicel Chemical industries Ltd and Celanese Corporation.

This report covers a thorough analysis of:

• Market segment
• Market dynamics
• Market size
• Supply demand
• Current Trends/Issues/Challenges
• Competition and related companies
• Technology
• Value chain

Regional analysis includes:

• North America (USA, Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, UK, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia and New Zealand)
• Japan
• Middle East and Africa (GCC countries, South Africa, North Africa)

Report highlights:

• Detailed overview of the top markets
• Changing market dynamics of the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• competitive landscape
• Strategies of major players and products provided
• Potential and niche segments, areas showing promising growth
• A neutral view of market performance
• Essential information for market participants to maintain and strengthen their market footprint

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