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Ethyleneamines market to expand USD 3 billion by 2024, rising pharmaceutical applications fuel industry demand

Author : Ravi Chawat | Published Date : 2020-09-25 

Ethyleneamines market size is likely to gain from rising investment by manufacturers towards the development of better and eco-friendly grades of the product, which accompanied by technological progress in manufacturing techniques has opened new potential growth avenues for the market. The product has been gaining substantial acceptance within the cosmetic industry in recent years, where consumer demand for natural, organic ingredients are boosting business share. Furthermore, ethyleneamines derivatives are gradually gaining grounds in the pharmaceutical industry, where they used in formulating muscle relaxants, antidepressants, antimalarials, local anesthetics, antihistamines, and antibiotics.

Global ethyleneamines market share is estimated to surpass USD 3 billion by 2024. The product finds prominent usage in detergents & cleaning agents. Surging consumer awareness regarding cleanliness and hygiene is propelling ethyleneamines market trends. Other routine applications include utilization in the production of agrochemicals, corrosion inhibitors, demulsifies, and in water treatment applications.

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Ethyleneamines are a class of complex organic chemicals that are used in the production of myriad other chemicals utilized in pharmaceutical, personal care, and agrochemical industries. The different types of ethyleneamines include ethylenediamines, diethylenetriamine, triethylenetetramine, and tetraethylenepentamine. Ethyleneamines have gained substantial traction within the bulk and specialty chemicals domain are poised to witness a strong demand in the upcoming years.

Robust oil and gas sector in the U.S. to meet the energy demands of people is a major factor complementing the adoption of the compounds across the region. U.S. ethyleneamines market from lube and fuel additives applications will register gains of close to 4% over the period of study. DETA is primarily used as a fuel additive that controls the amount of deposits in the fuel system. Ethyleneamine finds considerable commercial usage as a dispersant detergent chemical in gasoline.

Moreover, ethyleneamine is widely used in oil mining activities at oil fields due to its ability to prevent corrosion on drilling equipment. The derivatives from the product have applications in oil and gas refining and production operations such as functional additives, demulsifiers, neutralizers and corrosion inhibitors. The product is used as an antioxidant to monitor any form of contamination in refining operations. 

BASF SE, Dow Chemical Company, Huntsman Corporation, Gem Chemicals, Akzo Nobel, Tosoh Corporation, Saanvi Corporation, Lanxess, Parsol Chemicals, Delamine B.V., and Aminat, Diamines and Chemicals Limited are a few prominent names in the industry. A rapidly expanding personal care sector is fueling global ethyleneamines market size, which is estimated to be worth more than US$3 billion by 2024.

Get More News:

https://www.globenewswire.com/news-release/2017/11/23/1205350/0/en/Monoethylene-Glycol-Market-to-hit-40bn-by-2024-Global-Market-Insights-Inc.html

https://www.globenewswire.com/news-release/2018/11/07/1646845/0/en/Metal-Bonding-Adhesives-Market-to-hit-6bn-by-2025-Global-Market-Insights-Inc.html

 

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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