Ethanolamine Market Size Expected to Fly High with Increased Demand | Diacel Chemical Industries Ltd., The Dow Chemical Company

The North America ethanolamine market accounted for a revenue of $794 million in 2017 and is anticipated to generate $1,224 million by 2025. This market is expected to grow at a CAGR of 5.6% from 2018 to 2025. Ethanolamine is a hygroscopic organic chemical compound, which exhibits characteristics such as colorless, viscous, and hygroscopic. It acts as a weak base and is a bifunctional molecule comprising both a primary amine and a primary alcohol group. Ethanolamine is utilized in numerous applications, including acid gas purification, surfactants for soaps and detergents, and others.

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The growth of the North America ethanolamine market is driven by increase in demand from end user industries, such as personal care and cleaning, where it is used owing to its tendency to form emulsions. Furthermore, growth of the surfactants industry in North America is anticipated to boost the ethanolamine market in the region. However, fluctuating prices of raw materials, which are used to manufacture ethanolamine, are expected to impede the growth of the market. Conversely, use of ethanolamines in novel applications, such as the wood industry, is anticipated to provide lucrative growth opportunities to key players in North America.

The North America ethanolamine market is segmented based on product, application, end-user industry, and country. Based on product, it is categorized into monoethanolamine, diethanolamine, and triethanolamine. By application, the market is segmented into cleaning, gas treatment, water treatment, cosmetics, lubricants, and others. Based on end-user industry, the market is segmented into polyurethane, personal care, chemical, agrochemical, oil & petrochemical, and others. By country, the market is segmented into the U.S., Canada, and Mexico.

The key players analyzed in this report are BASF SE, Huntsman International LLC, INVISTA, Mitsubishi Gas Chemical Company, Akzo Nobel N.V., Diacel Chemical Industries Ltd., The Dow Chemical Company, INEOS, SINOPEC, and TAMINCO.

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The other players in the value chain (not included in the report) include Brenntag, HELM AG, LyondellBasell Industries N.V., and Sintez OKA LLC.

Key Benefits For Ethanolamine Market :

This report provides a detailed quantitative analysis of the current market trends from 2017 to 2025 to identify the prevailing opportunities along with strategic assessment of the North America ethanolamine market.

Market estimations are based on a comprehensive analysis of the type, end user, applications, and developments in the industry.

A qualitative analysis based on innovative products and devices facilitates strategic business planning.

The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.

COVID-19 Impact

In 2019, the COVID-19 epidemic swept the globe. It brought everything to a halt. It had an impact on the entire world economy. Moreover, a great number of people have also perished. In total, 5,091,465 fatalities and 252,297,094 cases of COVID-19 have been reported worldwide. A majority of the nations on earth were affected by the pandemic. The pandemic brought some kind of loss in the majority of industries. The epidemic caused a slowdown in the chemical industry as well. According to Statista, the business generated over US$ 3.94 trillion in worldwide sales in 2019. An all-time high of US$5.4 trillion in revenue was produced by the sector in 2014.

The level of rivalry among well-known international corporations has been determined by studying a number of key industries, as well as market competition, market share, current developments in the sector, novel product launches, alliances, mergers, and acquisitions by key corporations.

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Ethanolamine Key Market Segments :

By Type

Monoethanolamine (MEA)

Diethanolamine (DEA)

Triethanolamine (TEA)

By Application

Cleaning

Gas Treatment

Water Treatment

Cosmetics

Lubricants

Others

By End User

Polyurethane

Personal Care

Chemical

Agrochemical

Rubber, Oil & Petrochemical

Others

By Country

U.S.

Canada

Mexico

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This release was published on openPR.