Press release
Global Ethyleneamines Market Research Report Outlook 2017-2024
It is a colorless organic compound which is commercially produced from ammonia, caustic soda, and ethylenedichloride (EDC). Ethylenediamine and diethylenetriamine are the major byproducts of the ethyleneamines used in wide range of applications as reactive intermediates to produce other useful chemicals.
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Strong application outlook in automotive industry as fuel and lube oil additive will stimulate ethyleneamines market size. It is primarily used to decrease the development of varnish and sludge deposits inside internal combustion engines by solubilizing oil-insoluble liquids, by hindering the aggregation of particles, and by neutralizing acidic species established in the combustion process. Global demand for internal combustion engine was valued at over USD 166.9 billion in 2016 and may surpass USD 208.3 billion by 2020, registering over 5.7% growth.
Increased product usage in agriculture industry owing to their wide range of application in fungicides, algaecide and molluscide products will trigger market growth in forecast timeframe. Apart from this rise in demand for triisopropanolamine as a neutralizing agent in agricultural products will propel ethyleneamines industry growth.
Rise in demand for ethyleneamines in personal care industry may propel the market growth over the forecast timeframe. It is widely used in various personal care products such as shampoos, cosmetic creams, hand lotion, cleansing creams, and shaving creams. Positive application scope in highly concentrated liquid laundry detergents as a bleach activator is also expected to boost the product demand.
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Asia Pacific led by China, India and Japan ethyleneamines market should witness significant growth owing to presence of key players engaged in capacity expansion in this region. Positive outlook towards automotive, agriculture, adhesives and paper industries may promote regional product demand. Rise in demand for chelating agents in water treatment industry is also expected to boost the overall market in this region.
Europe driven by France, UK and Germany stainless steel market may witness high growth owing to positive application outlook in automotive industry. Stringent regulations from European commission for reducing particulate emissions is expected to fuel the growth of global ethyleneamines market.
Manufactures are focusing towards development of new technology to expand their amines product offering. In September 2017, AkzoNobel N.V. has introduced a novel technology platform to produce ethyleneamines. This will help the company enhance their product portfolio and to reduce the overall raw material consumption per ton of product, by providing sustainability profile and improved cost as compared to existing processes.
Global Ethyleneamines market share is moderately consolidated and competitive with major industry players include The Dow Chemical Company, Tosoh Corporation, Delamine B.V., Huntsman Corporation, Diamines & Chemicals Limited, Akzo Nobel N.V., and BASF S.E. Companies are focusing on merger and acquisitions with local & regional companies to open new market opportunities this will further boost ethyleneamines industry growth.
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