Ethanolamine Market – Overview
Ethanolamine are organic derivatives obtained from ethylene oxide and ammonia. These amines have excellent physical and chemical properties and can offer better color and viscosity. The Global Ethanolamine Market is expected grow moderately and register a positive CAGR over the forecast period. Some of the protuberant drivers supporting the growth of Global Ethanolamine Market are identified as, rising use of it in detergents and growing use of it as a chemical intermediate and herbicides. However, the raw material required for the manufacturing of Ethanolamine is very high. In addition to this, the raw material availability for the manufacturing of Ethanolamine is also one of the challenging task for the manufacturers which may restrain these Ethanolamine Market. The prolong use of Ethanolamine causes the harmful effects on human health and environment. As a result of this, stringent regulations of environment would reduce the consumption and production of amines, which is a threat to this market.
As agriculture sector accounted high contribution to the GDP of the developing economies. There is tremendous opportunity for the ethanolamine market with its use as herbicide in agriculture sector for countries with developing economies. The Ethanolamine are used by many industries, including for the manufacture of agrochemical, metal cleaning, pharmaceutical and detergents. However, growing trend of Ethanolamine use as additives for the manufacture of polymers, chemical intermediate, herbicide and detergents is observed.
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Industry/ Innovation/ Related News:
April 2012 – Huntsman increased amines capacity in Petfurdo, Hungary and Barcelona, Spain
August 2017 – BASF further expanded production capacity at amines complex in Nanjing, China
October 2015 – BASF expanded its range of specialty amines and basic amines.
July 2017 – Arkema planned to invest in three projects in Asia as part of a plan to drive up its share of sales from specialty chemicals to more than 80% by 2023.
July 2017 – DowDuPont Inc. is a US based company which is formed after the merger of DuPont and Dow Chemical in 2017 in the month of August. This acquisition is expected to increase their global market share in Ethanolamine Market.
Ethanolamine Market – Regional Analysis
Asia Pacific region accounted largest market share in the Global Ethanolamine Market and expected to dominate during the forecast period due to rising agriculture sector in developing economies, detergents, chemical intermediates and growing pharmaceutical industry in the region. China being largest exporter, consumer and manufacturer of Ethanolamine. Chinese manufacturers are mostly small manufacturers and some of the prominent manufacturers. India accounted for the second highest market share by value and volume in Asia Pacific region due to major initiatives taken by Government of India which is expected to support the growth of Ethanolamine production and consumption in India. One of such initiative by Indian Government is ‘Make in India’ which is expected to foster the countries Ethanolamine Market.
The report analyses the level of competition between the industry players as well as market scenario and industry growth. Worldwide, the ethanolamine market is at a growing stage which represents positive stats in terms of market value and overall volume. Over the past few years Ethanolamine Market has witnessed moderate demand from industries like agrochemical, detergents, chemical intermediates among others. However, the level of competition among the market players is still low, owing to limited number of market players present across the globe. Across the world, Ethanolamine Market is less fragmented in nature but it is expected to move towards growth expansion by specifically adopting partnership, expansion and joint-venture strategies and product launch strategies.
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