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Polyetheramine Market growth trends, share & industry analysis from 2016 to 2024
The Polyetheramine Market size is expected to witness an exponential reach over the estimated timeframe. The market is estimated to grow at a high CAGR in the forecasted period. Polyetheramine is colorless in nature and is used as a curing agent.
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Polyetheramine is mainly used in the coating industry for manufacturing of epoxy, polyurea and polyamides. Epoxy coatings are used in the fiber glasses, carbon fibers and many other composite materials.
The polyetheramine market globally is determined by its wide range of applications in end user industries such as the adhesive, ink, sealants, elastomer, resin and coating industry to name a few.
Manufacturing of polyetheramine is done through various raw materials, mainly, polytetramethylene ether, polypropylene glycol, polyethylene glycol, propylene oxide and ethylene oxide. These raw materials are provided by corporations such as Manali Petrochemicals Limited (India), INEOS (Switzerland), LyondellBasell (Netherland), BASF SE (Germany), The Dow Chemical Company (U.S.) and Huntsman Corporation (U.S.). Fluctuations in the raw material prices of this product may be a future restraint for market growth.
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In terms of volume and value, epoxy coating segment was highly valued in 2015. It is projected to grow at a CAGR of over 10% in value terms during the forecasted timespan. On the basis of region, the global market of polyetheramine can be segmented into Latin America, North America, Western Europe, Eastern Europe, Asia Pacific, Africa and Middle East and Japan.
The product finds application in sealants, engineering compositions and hot melt adhesives as it has long pot life. It contains compounds such as the polyether and amine moieties that are majorly used for increasing the hydrophobicity, hydrophilicity, flexibility and toughness. It is also used as a fuel additive in the cleaning of carburetors, injectors and valves.
The polyetheramine market globally was valued over USD 660 million approximately in the year 2015, and is estimated to grow at a rate over 9% CAGR during the forecasted timespan. Taking into consideration the volumes, a major share was accounted for by the Asia-Pacific in the polyetheramine market globally in the year 2015. The primary reason behind this market growth is the rising demand of the product in countries such as Thailand, Malaysia, Indonesia and India.
Polyetheramine market consists of some key competitors. These are IRO Group Inc., Clariant, Zibo DexinLianbang Chemical Industry Company Ltd., Wuxi Acryl Technology Co. Ltd., Qingdao IRO Surfactant Co. Ltd., Yangzhou Chenhua New Materials Company Ltd, Yantai Minsheng Chemicals Company, Ltd., BASF SE and Huntsman Corporation to name a few.
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Bearing in mind the increasing demand for polyetheramines in several end-user industries, Hunstman Corporation, in January 2014 declared to rise the production of polyetheramines globally by 15%.
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