As per a new report published by Fact.MR, the triethanolamine market is forecast to exceed a valuation of US$ 1.7 Bn in 2031, expanding at a CAGR of close to 5% through the same period. The emulsification property of triethanolamine (TEA) makes it useful in several industrial applications such as gas treating and chemical manufacturing. For the removal of contaminants from gasoline, triethanolamine along with DEA and MEA in gas treating process is highly recommended.
Additionally, demand for triethanolamine as a chemical intermediate has shown drastic growth over the past half-decade. Triethanolamine is used in agrochemicals to make pesticides, where it works as a dissolvent and increases the ability of the pesticide to dissolve easily in water.
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Key Market Segments Covered
- By Purity Level
- 99% Triethanolamine
- 98% Triethanolamine
- 85% Triethanolamine
- By Grade
- Triethanolamine for Research Purposes
- Triethanolamine for Commercial Purposes
- By Function
- Triethanolamine as Additives
- Triethanolamine as Intermediates
- Triethanolamine as Surfactants
- Triethanolamine as Corrosion inhibitors
- Triethanolamine as Neutralizers
- Triethanolamine as Softening Agents
- Others
- By Application
- Triethanolamine for Detergent Manufacturing
- Triethanolamine for Personal Care & Cosmetics
- Shampoos
- Shaving Creams
- Cosmetic Creams
- Lotions
- Sun care products
- Others
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Key Companies Profiled
- BASF
- Huntsman Corporation
- INEOS Oxide
- Jiahua Chemicals Inc.
- Nippon Shokubai
- Nouryon
- Oriental union chemical Corporation
- PCC Group
- SABIC
- Sintez OKA Group of Companies
- The Dow Chemical Company
- San Fu Chemical CO. LTD.
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Key Takeaways from Market Study
- East Asia accounts for the most consumption of triethanolamine, with an absolute $ opportunity worth US$ 288 Mn predicted by 2031.
- Followed by East Asia, South Asia & Oceania is anticipated to garner a dollar opportunity of US$ 120 Mn over the long-run forecast period.
- On the basis of purity level, 99% purity grade triethanolamine dominates the market. In terms of volume, 99% purity grade is expected to register a CAGR of 4.5% over the forecast period, and gain around 144 BPS in market share.
- Commercial grade triethanolamine is projected to create an absolute $ opportunity of US$ 616 Mn during forecast period of 2021 to 2031.
- Textile finishing applications are projected to grow 1.5X in value over the next ten years.
- Concrete admixture applications are projected to grow 1.7X in value during the forecast period of 2021-2031.
- The Middle East & Africa and Latin America together hold a minute market share.