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Polyetheramine Market - Global Industry Analysis, Size, Share 2024 | Research Report
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Polyetheramines are also used as fuel additives. Thus, usage of polyetheramine in a wide array of applications is expected to drive the market for polyetheramine during the forecast period. Based on type, the market for polyetheramine can be segmented into monoamine, diamine, triamine, and others. In terms of application, the market for polyetheramine can be divided into polyurea, composites, epoxy coatings, fuel additives, adhesives & sealants, and others.
The market for polyetheramine is anticipated to witness strong growth owing to the expansion of end-user industries. Increase in the usage of polyetheramine based composites in the wind energy industry since the last few years is anticipated to drive the market during the forecast period. In terms of type, the diamine segment is estimated to witness strong growth owing to the rising usage in wind blade composites. Increase in demand for renewable energy is boosting the market for wind industry. This, in turn, is projected to augment the polyetheramine market during the forecast period.
The epoxy coatings application segment constituted significant share of the global polyetheramine market in 2016. The segment is likely to expand substantially in the near future. Increase in expenditure on epoxy coatings in the building & construction industry is expected to boost the epoxy coatings segment. Epoxy coatings are durable coatings, which are used in adhesives, metals, floors, etc.
Increase in population in emerging countries, growth in the manufacturing industry, and rise in local end-use production are anticipated to propel the consumption of polyetheramines. Expansion in industries such as cement additives and acid neutralization is also estimated to augment the polyetheramine market. However, rise in environmental regulations on the usage of polyetheramines owing to their hazardous impact on the aquatic life can hamper market growth during the forecast period.
In terms of geography, Asia Pacific accounted for significant share of the global polyetheramine market in 2016. The region is projected to continue its dominance during the forecast period. Growth in population, increase in demand for renewable energy, and expansion in end-user industries that employ polyetheramine are the factors augmenting the polyetheramine market in Asia Pacific. Polyetheramine is gaining momentum in the region owing to its burst resistance and fatigue resistance properties. Asia Pacific was followed by North America and Europe in 2016.
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Innovative coating technologies, rise in demand for renewable energy, and construction solutions for infrastructure development are expected to fuel the polyetheramine market in North America. Considering the global outlook, the market for polyetheramine is anticipated to record strong growth during the forecast period.
Key players operating in the polyetheramine market are BASF SE, Wuxi Acryl Technology Co., Ltd., Huntsman Corporation, Yangzhou Chenhua New Materials Co., Ltd., Clariant, Yantai Minsheng Chemicals Co., Ltd., Zibo Dexin Lianbang Chemical Industry Co., Ltd., and Iro Surfactant Co., Ltd. Companies are adopting various strategies such joint ventures, acquisitions, and new product development to increase their presence in market. Huntsman Corporation expanded its global production of polyetheramine by 15% in 2015.
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