Global Ethanolamine Market is anticipated to reach over US $ 4 Billion by 2026 end growing at a CAGR of over 5% during the forecast period of 2019 to 2026.
Ethanolamine is a flammable, colorless and corrosive liquid substance. It's mainly utilized as an unprocessed material in the making of detergents.
The ethanolamine market is segmented into monoethanolamine, diethanolamine, and triethanolamine. They are all primarily used as absorbents for acidic elements of natural gas. Triethanolamine is also used as a corrosion inhibitor for coolants of airplane engine.
Increasing in demand for metal protection and the construction industry has boosted the growth of the market. A gradual increase in per capita income has influenced the personal care industry which has escalated the growth of the market. Ethanolamine is used heavily in the manufacturing of shampoos and liquid soaps. The latest development in wood preservation and expansion of agrochemical production has fueled the growth of the market.
However, fluctuating prices of raw materials are expected to hamper the growth of the market.
North America controls the majority of the market. The rise in demand for personal care products and detergents in America and Canada is expected to boost the market in the forecast period. Asia-Pacific region is expected to witness high market growth in the coming years. Rising construction activities in China, Thailand, and India have led to more demand for Triethanolamine. Triethanolamine is used to manufacture performance enhancers. The rise in demand for Triethanolamine expected to complement industry growth in the coming years. Low-cost production in India has acted as a lucrative option for big players in the market.
Prominent players of the market are Dow Chemical Corporation, BASF, CNPC, Daicel Chemical Industries, Fushun Beifang Chemical Co.Ltd, Alkyl Amines Chemicals Ltd, and Celanese Corporation.
Ethanolamine Market Restraints:
• Fluctuating prices of raw materials are expected to hamper the growth of the market.
Global Ethanolamine Market Segmentation:
By Product
• Monoethanolamine
• Diethanolamine
• Triethanolamine
By End User
• Polyurethane
• Personal Care
• Chemical
• Agrochemical
• Rubber
• Oil & Petrochemical
• Others
By Region:
• Europe
• North America
• APAC
• Latin America
• Rest of World
Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
FutureWise Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on ethanolamine market based on the product, end users and region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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