Supportive government legislations along with growing application of the compound in surfactants, herbicides, and cement is expected to push Ethanolamines Market growth over the years to come. Furthermore, its wide application across chemical intermediates, natural gas, cosmetics, paints & coatings, natural gas, cosmetics, and textiles will further boost the industry trends. According to Global Market Insights, Inc., study “Ethanolamines Market size is forecast to hit USD 3.98 billion by 2024.” Sluggish increase in costs of raw materials will contribute substantially towards the business growth over the years to come.
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Monoethanolamine, Triethanolamines, and Diethanolamines are few of the major products of Ethanolamines industry. Diethanolamines market, which was valued at USD 1 billion in 2015, is anticipated to record a CAGR of 4% over 2016-2024, driven by its wide application in soluble oils, coating emulsifiers, cosmetics, detergents, wax, and agrochemicals. Monoethanolamine industry is expected to witness a high surge over the coming years, driven by escalating demand for triazines and ethyleneamines. Triethanolamines industry, which dominated the product landscape in 2015, is forecast to experience a notable growth over the period of 2016 to 2024, driven by its wide application in bathroom items, corrosion inhibitors, photographic film development, cement additives, and cutting oils.
Surfactants sector, which dominated ethanolamines industry share in 2015, is expected to boost the industry revenue over the coming timeframe. The booming agrochemicals sector is expected to contribute handsomely towards ethanolamines market revenue, driven by high demand for the chemical compound across farming sector.
Geographical trends influencing global ethanolamines industry landscape over 2016-2024 are as below:
- High demand for ethanolamines across the agricultural sector is projected to drive Asia Pacific ethanolamines industry size over the coming timeframe, having attained a targeted revenue of USD 1 billion in 2015. India and China are expected to drive the regional revenue.
- Europe industry is projected to observe substantial growth over the years to come, driven by the growing use of the chemical compound across various sectors.
- North America, driven by U.S. ethanolamines market share, is expected to grow substantially over the coming seven years. U.S. is expected to cross USD 800 million by 2024.
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Market players will try to increase their ROI as well as regional presence through product innovations, high investments in R&D activities, and strategic collaborations. Key industry participants include SABIC, China Petroleum & Chemical Corporation, The Dow Chemical Company, LyondellBasell Industries N.V., INEOS Group Limited, Huntsman Corporation, Sintez OKA LLC, and BASF-YPC Company Limited.
Browse key industry insights spread across 100 pages with 148 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 Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Application Potential, Price Trends, Competitive Market Share & Forecast, 2013 – 2024” in detail along with the table of contents:
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