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Ethanolamines Market Trends 2024 Comprehensive Study Explores Huge Growth in Future

Author : Ronak Bora | Published Date : 2019-05-09 

Moreover, positive supply outlook on ethylene oxide is expected to stabilize ethanolamines market price trends. Surfactants and herbicides together accounted for approximately USD 1.5 billion of the global ethanolamines industry share 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.Ethanolamines Market will likely surpass USD 3.9 billion by 2024 according to this new research report.

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North America ethanolamines market is led by the U.S. which occupied more than 85% of the regions revenue whereas Europe will likely experience a dip due to banning of diethanolamines in cosmetics. The most lucrative regions for the ethanolamines industry are Asia Pacific and Middle East & Africa. These two regions will witness favorable growth within the forecast years and will chiefly drive the overall industry.

Global ethanolamines market is segmented into six application categories including surfactants, chemical intermediaries, herbicides, gas treatment, cement and others. Surfactants was the most prominent application segment in 2015, accounting for more than a quarter of the overall revenue. High demand for industrial cleaners will augment the growth of this segment. Herbicide and chemical intermediary segments are anticipated to grow at a healthy rate till 2024 due to high growth in chemical industries sector and increasing demand for agrochemicals. These two segments together occupied more than two fifth of the overall ethanolamines industry.

Ethanolamines market may face challenges in the future due to the possible harmful effects of the compound on human health. Studies have linked the compound with liver tumors and the European Union banned the use of DEA in cosmetic products due to its carcinogenic nature. There is a possibility of safer compounds to substitute the product in the future and ultimately hinder the industry growth.

Monoethanolamines (MEA), diethanolamines (DEA) and triethanolamines (TEA) are the three product segments in the global ethanolamines market. Diethanolamines will be the fastest growing segment with 4% CAGR during the forecast years. In 2015, the market value of this segment was around USD 1 billion. Triethanolamines had the largest share of the overall ethnolamines market in 2015 and is anticipated to grow at a favorable rate till 2024.

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Product Trends

Global ethanolamines industry is segmented into key products like triethanolmines, monoethanolamine and diethanolamines.

Diethanolamines is predicted to be attractive product segment with revenue of higher than $1.1 billion for 2015 with higher than 4.1% CAGR expected to be recorded during forecast timeline. Its expansion is credited to herbicides growth.

Triethanolmines product segment was the biggest segment for 2015 and is projected to expand significantly during forecast timeline. Demand for ester quats is projected to fuel the segment revenue.

Monoethanolamine segment is projected to grow owing to heavy demand from triazines and ethyleneamines. Furthermore, the increase in demand for the segment can be credited to rising demand from olefins cracker items and refinery streams.

Application Trends

Global ethanolamines market is segmented into various applications like gas treatment, chemical intermediates, cement, surfactants and herbicides.

Surfactants segment contributed more than 25.1% of total revenue for 2015. Chemical intermediates and herbicides contributed for more than 40.1% of ethanolamines market share with nominal gains projected by end of forecast timeline. Rising agrochemicals sector owing to increasing demand from farming activities and growing demand from different cleaning methods in most of end use sectors are few of the aspects for these segments to display fast growth during forecast timeline.

Regional Trends

Global ethanolamines market is segmented into various geographical locations like North America, APAC, MEA, Europe and Latin America.

APAC, specifically, India and China ethanolamines industry, contributed more than $1.1 billion for 2015 in revenue terms and the region is projected to experience heavy expansion depending on domestic use.

MEA and APAC are predicted to be the most favored areas for the industry during forecast timeline.

Latin America and North America are predicted to demonstrate positive growth in future. U.S. ethanolamines market share that was higher than 400 kilo tons for 2015 today contributes more than 84.1% of overall North American industry share in terms of revenue.

Competitive Trends

Key industry participants profiled in the report include SABIC, Huntsman Corporation, The Dow Chemical Company, LyondellBasell Industries N.V., BASF-YPC Company Limited, Thai Ethanolamines Company Limited, Akzo Nobel N.V., China Petroleum & Chemical Corporation, INEOS Group and Sintez OKA LLC.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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