Ethanolamines Market 2020 -2026 : Recent Industry Activity, Product Innovations & Focus on Key Players
seattle, WA -- (SBWire) -- 03/05/2020 --Global Ethanolamines Market, By Product Type (Monoethanolamines (MEA), Diethanolamines (DEA), Triethanolamines (TEA)), Application (Surfactants, Chemical Intermediates, Herbicides, Gas Treatment, Metal Treatment, Textile), and Geography - Global Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025
Ethanolamines are colorless, viscous organic compounds with molecular formula HOCH2CH2NH2. These are used as a feedstock in the manufacture of Monoethanolamines (MEA), Diethanolamines (DEA) and Triethanolamines (TEA), which finds wide application in the production of emulsifiers, detergents, polishes, chemical intermediates, corrosion inhibitors and pharmaceuticals.
On the basis of application, the global ethanolamine market can be segmented as surfactants, herbicides, chemicals intermediates, textiles, gas treatments, and metal treatment. Herbicides segment is expected to witness highest growth rate during the forecast period, followed by textile and surfactants. Other major applications of ethanolamine are in the field of corrosion inhibitors for metal protection and construction chemicals. These chemicals are largely used in the production of surfactants, which finds wide applications in detergents, emulsions, fabric softeners, paints, inks, adhesives, cosmetics, biocides, among others. Surfactants application segment dominated the ethanolamines market in 2016.
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Ethanolamines are also used in various cosmetics and personal care industry for manufacturing bath foams, liquid soaps and shampoos. However, the use of diethanolamines in cosmetics was banned by The European Commission in order to lower the contamination from carcinogenic nitrosamines. Also, many studies have demonstrated the ill-effects of these chemicals on the liver. According to the U.S. Department of Health and Human Services' NIH publication (No. 92-3343), in October 1992, ill effects of diethanolamines on the liver were observed.
The construction industry uses triethanolamines as cement grinding aids and performance enhancers in order to reduce the energy consumption and to improve the quality of cement. Increasing infrastructure development in emerging economy such as China, India, Brazil, UAE and Saudi Arabia is expected to boost demand for triethanolamines, which in turn is expected to drive demand for ethanolamines over the forecast period. For instance, as per India Brand Equity Foundation (IBEF)—a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India—the Indian government plans to invest US$ 376.53 billion in infrastructure development over the following three years
The global ethanolamines market size was valued at US$ 2.99 billion (revenue), and 1840.96 kilo tons (volume) in 2016, and it is expected to expand at a CAGR of 4.4% in terms of revenue and 3.6% in terms of volume between 2017 and 2025.
Diethanolamines segment is expected to be the fastest growing application area in the ethanolamines market
Among product type, the diethanolamines segment is expected to be the fastest growing segment in the ethanolamines market over the forecast period owing to its wide applications in the manufacture of herbicides. Glyphosate is used as an herbicide to kill weeds and grasses, and its demand from the agriculture industry is growing due to rising demand for diethanolamines. Moreover, aqueous solution of diethanolamines is also used as a gas scrubbing agents to treat natural gas in refineries and in the petrochemicals industry. These factors are projected to drive growth of the segment in the ethanolamines market.
Asia Pacific is the largest market for ethanolamines, and the trend is expected to continue over the following years due to large amount of domestic consumption in various end-use industries, coupled with cheap production cost and rapid economic growth across the region. North America is also expected to witness significant growth due to its vast application in gas sweetening. For instance, North America is experiencing wide exploitation of shale gas reserves, which in turn is increasing the supply of natural gas in the region and driving demand for ethanolamines for the treatment of natural gas.
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Major players operating in the global ethanolamines market are The Dow Chemical Company, SABIC, LyondellBasell Industries N.V., Huntsman Corporation, China Chemical & Petroleum Corporation, BASF SE, Sintez OKA LLC, Daicel Chemical industries Ltd. and Celanese Corporation.
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