Global Ethanolamines Market - Segmented by Product Type, Application and Geography - Growth, Trends and Forecast (2018 - 2023)
The global ethanolamines market is expected to witness a CAGR of approximately 4.4% during the forecast period, majorly driven by the rising demand from corrosion inhibitors and glysophate herbicides applications.
Increasing Application Base
Ethanolamines are corrosive, colorless, flammable, and viscous liquids that are produced by the reaction of ethylene oxide and ammonia. It is required in various industries for applications such as cement grinding, gas treatment, pharmaceuticals, agricultural, and personal care products. The demand for ethanolamines from corrosion inhibitors for metal protection, and glysophate herbicides are expected to drive the market extensively during the forecast period. Furthermore, the increasing demand for DEA from the herbicides segment shall further augment the growth of the ethanolamines market
Cement Grinding is the Most Dominating Segment
Cement grinding dominates the market for ethanolamines by application. This is due to the rising demand from the construction sector because of the increasing construction activities in developing nations including India, Indonesia, Thailand, and China. Additionally, the rising investments in the construction sector from both the government and international companies (owing to growing tourism and business opportunities) in these economies are expected to boost the demand for ethanolamines from the cement grinding segment. Other than cement grinding, the textile and the others segment hold growth potential.
Growing Demand from Textile and Personal Care Segments in Asia-Pacific
Asia-Pacific held the largest share, followed by North America. Asia-Pacific is also expected to be the fastest growing region during the forecast period due to the growth in the textiles, herbicides, and personal care segments. In China, new plants have been constructed that require MEA as a raw material. This shall further augment the growth of the market in the Asia-Pacific region during the forecast period.
Key Developments in the Market
August 2017: DowDuPont force majeure announcement on MEA, TEA, & DEA at its Seadrift, Texas site due to the widespread flooding caused by Hurricane Harvey.
September 2017: BASF SE increases price of ethanolamines by EUR 150 per ton in Europe, stating that the increase shall restore sustainable margins in light of increased costs.
The major players include – BASF SE, Celanese Corporation, DowDuPont, Huntsman Corporation, and LyondellBasell, amongst others.
Reason to Purchase the Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating process type and filler used in the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 month analyst support, along with the Market Estimate sheet (in Excel)
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