Ethanolamines Market worth $3.98 billion by 2024
Published Date: August 24, 2016 Authors: Kiran Pulidindi, Hemant Pandey
According to a new research report by Global Market Insights, Inc., the Ethanolamines Market size is expected to reach USD 3.98 billion by 2024. Government subsidies and growing demand for agrochemicals, surfactants, and natural gas are major will drive the product business. Moreover, positive supply outlook on ethylene oxide is expected to stabilize the market trends.
Surfactants and herbicides together accounted for approximately USD 1.5 billion with more than 4% growth target. Gas treatment, chemical intermediates and cement are also expected to show a favorable and steady growth in the coming years. Gas treatment is expected to be driven by Middle East (majorly the GCC countries) and Latin America due to high demand for gas sweetening agents in the near future.
Diethanolamines (DEA) and triethanolamines (TEA) are projected to be the major product segments in the ethanolamines market. DEA are majorly used in the manufacture of cosmetics, detergent and textile specialties, wax and other polish, in agrochemicals, as petroleum demulsifiers, coating emulsifiers, soluble oils and as corrosion inhibitors.
Triethanolamines is used as intermediates in surface active agents, bathroom products, cement additives, cutting oils, photographic film developing, corrosion inhibitors, as dispersant for dyes, shellac, rubber latex and casein; and also as sequestering agents. With a wide range of applications, these products have exhibited tremendous demand and are likely to maintain a significant ethanolamines market share over the next decade.
Browse key industry insights spread across 100 pages with 149 market data tables & 14 figures & charts from the report, “Ethanolamines Market By Product (Monoethanolamine [MEA], Diethanolamines [DEA], Triethanolamines [TEA]), By Application (Surfactants, Chemical Intermediates, Herbicides, Gas Treatment, Cement), Industry Analysis Report, Regional, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 - 2024” in detail along with the table of contents:
Agrochemicals, surfactants, natural gas, cement processing and chemical intermediates are the major driving application segments. Herbicides and surfactants generated approximately USD 1.5 billion in global revenue and are likely to be the major application segments for the ethanolamine market size in the coming years.
Diethanolamines and triethanolamines are likely to show relatively rapid growth in the ethanolamines product market and accounted for over 70% of the total ethanolamines demand by product in 2015.
U.S. ethanolamines market size will surpass USD 800 million by 2024 and represents the majority of North America revenue generation. On the other hand, Asia Pacific market share will grow to over 40% by 2014 and will be driven by demand from China, India, ASEAN and many agricultural sectors in the region.
Strong integration trends across the value chain along with fragmented market with market consolidation within a few players is likely to increase the competition among major players and drive growth.
The Dow Chemical Company, SABIC, INEOS Group Ltd., LyondellBasell Industries Holdings B.V., Huntsman Corporation, China Petroleum & Chemical Corporation and BASF-YPC Company Limited are some of the major companies operating in the ethanolamines industry. Growth strategies center around product diversification and penetration into new or untapped applications in order to reach a wider customer base and to ensure considerable portfolio.
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