Press release
Monoethanolamine Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Monoethanolamine
What Is the Projected Growth of the Monoethanolamine Market?
The monoethanolamine market size will grow from $3.24 billion in 2024 to $3.46 billion in 2025, at a CAGR of 6.7%. The growth is driven by expansion in the construction industry, oil and gas refining, use as corrosion inhibitors, increased demand for herbicides, and the growth in the production of ethanol-based chemicals.
The monoethanolamine market is projected to grow to $4.45 billion by 2029, at a CAGR of 6.5%. Growth is driven by demand in agrochemicals, surfactants for detergents, gas sweetening processes, the textile industry, and personal care products. Trends include expanded applications in cement grinding aids, water treatment solutions, metalworking fluids, and advancements in chemical manufacturing and gas treatment technologies.
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What Are the Different Monoethanolamine Market Segments?
The monoethanolaminemarket covered in this report is segmented -
1) By Type: Purity 99% And Above, Purity Below 99%
2) By Form: Liquid, Solid
3) By Grade: Industrial Grade, Pharmaceutical Grade
4) By Distribution Channel: Direct Sales, E-Commerce, Other Distribution Channels
5) By Application: Detergents And Cleaners, Gas Treatment, Personal Care Products, Herbicides, Chemical Intermediates, Cement Additives, Other Applications
Subsegments:
1) By Purity 99% and Above: Pharmaceutical Grade Monoethanolamine, Industrial Grade Monoethanolamine, Food Grade Monoethanolamine, High Purity Monoethanolamine
2) By Purity Below 99%: Technical Grade Monoethanolamine, Agricultural Grade Monoethanolamine, Impure Monoethanolamine (Mixed Grades)
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What Are the Primary Drivers Shaping the Monoethanolamine Market?
The increasing use of monoethanolamine in the pharmaceutical industry is projected to spur the growth of the monoethanolamine market. The pharmaceutical sector, driven by the demand for advanced treatments and the rising prevalence of chronic diseases, is expanding. Monoethanolamine is essential for synthesizing drugs and producing active pharmaceutical ingredients. In December 2022, Statistics Canada reported a 3.9% increase in the pharmaceuticals and pharmacy supplies industry, reaching $6.4 billion. Hence, the rising use of monoethanolamine in pharmaceuticals is propelling its market growth.
Which Companies Are Leading in the Monoethanolamine Market?
Major companies operating in the monoethanolamine market are BASF SE, Dow Chemical Company, SABIC (Saudi Basic Industries Corporation), Sasol Limited, Lotte Chemical Corporation, INEOS Group, Akzo Nobel N.V., Eastman Chemical Co., Huntsman International LLC, Lubrizol Corporation, Petronas Chemicals Group Berhad, Nouryon, Nippon Shokubai Co. Ltd., HELM AG, Zhejiang Jianye Chemical Co. Ltd., Miwon Commercial Co. Ltd., Alkyl Amines Chemicals Ltd., Amines & Plasticizers Ltd., Colonial Chemical Solutions Inc., Enaspol GmbH, Jiahua Chemicals Inc., Mitsui Chemicals Inc
What Trends Are Expected to Dominate the Monoethanolamine Market in the Next 5 Years?
Companies in the monoethanolamine market are pursuing strategic partnerships to expand their amine product portfolios. BASF, in February 2024, partnered with OQEMA AG to leverage OQEMA's distribution network and BASF's product offerings, improving market presence and ensuring reliable access to high-quality products.
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What Are the Top Revenue-Generating Geographies in the Monoethanolamine Market?
Asia-Pacific was the largest region in the monoethanolamine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the monoethanolamine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Monoethanolamine Market?
2. What is the CAGR expected in the Monoethanolamine Market?
3. What Are the Key Innovations Transforming the Monoethanolamine Industry?
4. Which Region Is Leading the Monoethanolamine Market?
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What Is the Projected Growth of the Monoethanolamine Market?
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Monoethanolamine or β-Aminoethanol is an organic compound which is colorless, flammable, and toxic by nature emitting odor similar to that of ammonia. Monoethanolamine depicts the unique blend of properties from both the groups, namely amines (alkaline) and alcohols (hygroscopic). For most of the industrial applications Monoethanolamine is largely used in pure form while in aqueous form it is used as gas scrubbing absorbent. Monoethanolamine also finds its intermediate application…
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