The new report by Expert Market Research titled, ‘Global Ethanolamine Market Analysis, Size, Share, Growth, Trends, Report and Forecast 2023-2028’, gives in-depth analysis of the global ethanolamine market, assessing the market based on its segments like application, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028): –
- Historical Market Size (2020): 1.9 Million Metric Tons
- Forecast CAGR (2023-2028): 3.75%
The market for construction chemicals and corrosion inhibitors for metal safety is expected to grow as the application scope expands. Over the next seven years, ethanolamines market growth is expected to be fueled by rising surfactant demand in Europe and North America.
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It is widely used in a variety of industries because it functions as a poor base compound and is a required head group for phospholipids. Increasing per capita disposable income, combined with increased customer awareness, is expected to boost the personal care industry in Asia Pacific and Latin America’s emerging economies.
Ethanolamine Industry Definition and Major Segments
Ethanolamine is a chemical compound that is both a primary amine and a primary alcohol (organic compounds with a lone pair on the nitrogen atom) (alcohol having hydroxyl group connected to carbon atom). Scrub acids, detergents, emulsification agents, varnishes and polishes, and other chemical intermediaries contain ethanolamine, a corrosive, colourless, flammable, viscous, and toxic liquid.
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It finds its applications in the production of the following segments:
- Detergents and Personal Care
- Gas Purification
- Wood Preservation
Based on region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Ethanolamine Market Trends
The market is growing due to the expansion of application scope, such as corrosive inhibitors and construction chemicals for metal safety. The personal care industry is expected to be influenced by consumer awareness, and rising per capita income will drive demand growth in emerging economies such as Latin America and Asia-Pacific.
New applications, such as wood preservation and agrochemical processing, would open up new business opportunities. End-use applications such as gas treatment and metal cleaning will drive market growth in the coming years, with gas treatment applications driving the market forward.
In addition, the demand for the commodity from cement, herbicides, textiles, and chemical intermediates, among other applications, is driving market growth and creating opportunities for the ethanolamines market in the forecast period. Due to the demand for diethanolamines in detergents, chemical intermediates, herbicides, metal cleaning, and other applications, Asia Pacific dominates the market.
The region’s growth has been accelerated by a rise in disposable income and rapid urbanisation over the assessment period. China, Japan, and India are the most important players in this business. Because of the high standard of living and increased production of cosmetic products, the North American region is rapidly expanding in the industry. During the forecast period, it is expected that increasing investments in end-use industries will drive the demand in the area.
Key Market Players
The major players in the market are BASF SE (OTCMKTS: BASFY), Dow Chemical Company, INEOS Capital Limited, Huntsman International LLC, Nouryon, Saudi Kayan Petrochemical Co., Nippon Shokubai Co., Ltd, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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