The ethanolamines market had US$3.1 billion in sales globally in 2021. The anticipated market growth from 2022 to 2032 is anticipated to be 4.1%, which is significantly higher than the growth in the past. The highest revenue-generating segment is anticipated to be monoethanolamine, with a 3.7% CAGR between 2022 and 2032. Historically, the Ethanolamines Market’s market value increased at a 4.8% CAGR from 2017 to 2021.
The market expansion is anticipated to be fueled by increased demand in the agricultural sector given the increased use of ethanolamines by end-use industries such as detergents, herbicides, and textiles. Commonly used as a raw material in the creation of cleaners, polishes, and medicines is ethanolamine. As the application is then used more extensively, demand for building chemicals and protective coatings for metal shielding is anticipated to increase. The market will likely expand in the coming years as a result of the anticipated increase in surfactant use in Western Europe and the United States.
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Key Takeaways from the Market Study
- Global Ethanolamines Market is expected to reach a market size of US$ 3.2 Bn by 2022.
- Monoethanolamine product type is expected to have the highest CAGR rate of 3.7% during the forecast period.
- United States to remain the most dominant market with absolute dollar growth opportunity of US$ 500 Mn during 2022 – 2032.
- The market in China is set to experience the highest CAGR of 3.6% during the 2022-2032 forecast periods.
Some of the recent developments in the Ethanolamines Market are:
- The PetroChina Jilin Petrochemical Company’s restructuring and improvement project got underway in February 2022. In order for CNPC to achieve its objectives and encourage strong growth in its petrochemical and refinery operations, the Jilin project is a crucial component. As the first chemical project entirely powered by green energy from CNPC, it makes use of cutting-edge environmental preservation and energy-saving technology. In addition to closing nine existing facilities and renovating 21, the project calls for the construction of an ethylene plant. The project will support the refinery and petrochemical operations of CNPC, as well as the development of the regional petrochemical industrial chain and the revitalization of Northeast China.
- Huntsman announced in September 2021 that its facility in Petfurdo, Hungary would be able to produce more specialty amino acids and polyurethane catalysts. The multimillion-dollar investment project should be finished by mid-2023. Huntsman anticipates that the brownfield site will increase global capacity and provide the polyurethane, coatings, metalworking, and electronics industries with new technologies as well as greater flexibility.
Key Companies Covered
- Huntsman Corporation
- Dow Chemical Corporation
- Alkyl Amines Chemicals Ltd.
- Thai Ethanolamines Co.
- Daicel Chemical Industries
- INEOS Oxide Ltd.
- Fushun Beifang Chemical Co. Ltd.
- Celanese Corporation
- Akzo Nobel
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Regional Analysis For Ethanolamines Market
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)
Some of the key questions that may be covered in a market analysis of the ethanolamines market include:
- What is the current size of the ethanolamines market, and what is its projected growth rate over the next few years?
- What are the main applications of ethanolamines, and which sectors are driving demand?
- Who are the major players in the ethanolamines market, and what are their market shares and strategies?
- What are the key technological trends in the ethanolamines market, and how are they likely to impact the market in the future?
- What are the key regulatory frameworks governing the ethanolamines market, and how are they expected to evolve in the future?
- What are the key challenges facing the ethanolamines market, and how are they being addressed by manufacturers and other stakeholders?
- What are the key geographical regions for the ethanolamines market, and how is demand distributed across these regions?
- What are the different types of ethanolamines and their respective applications, and how do they differ in terms of features and capabilities?
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Global Ethanolamines Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Global Ethanolamines Market by Product Type (Monoethanolamine, Diethanolamine, and Triethanolamine), by End-user (Agriculture, Construction, Personal Care, Oil and Gas, Metallurgy and Metalworking, Textile and Other End-user Industries), across five regions (North America, Asia Pacific, Europe, Middle East & Africa and Latin America).
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