Ethanolamines market growth is driven by rising demand from surfactants, natural gas and agrochemical sectors
Global Ethanolamines Market size contributed $2.80 billion for 2015 and is projected to expand at a CAGR of 4.2% during forecast timeline. Growing demand from surfactants and agrochemical, strong infrastructural expansion in APAC and significant potential demand from natural gas processing are predicted to enhance the industry trends.
U.S. Ethanolamines Market size, by product, 2013-2024 (KT)
Comparatively slow increase of raw material prices and other aspects are also predicted to add towards revenue gain. Demand from other applications like textiles, paints & coatings, additives and cosmetics are also predicted to help the global ethanolamines industry expand in future.
Key threats faced by global ethanolamines market include strict rules and health concerns due to chemical ill-effect on human beings. Medical studies were carried out to check the chemical effects of the product on human liver and its connections to liver tumors were detected in past. This inhibits the use of the product in many applications and proper replacements have found their way to the industry.
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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.
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.
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.
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.
Author Name : Dhananjay Punekar
This entry was posted in Bulk & Specialty Chemicals and tagged Application Potential, By Application, Competitive Market Share & Forecast, Ethanolamines Market Size By Product, Industry Analysis Report, Price Trends, Regional Outlook.