Ethanolamine Market (CAGR of 4.15%) 2035 - Ethanolamine Industry Trends, Revenue, and Outlook | ChemAnalyst
According to ChemAnalyst report, “Ethanolamine Market Analysis: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, End-User Industries, Type, Distribution Channel, Regional Demand, 2015-2035”. Ethanolamine market witnessed a demand of around 2.16 million tons globally in 2021 and it is projected to grow with a healthy CAGR of 4.15% until 2035 owing to its rising demand to produce Soaps & detergents, Cosmetics & personal care products, Oil & gas treatment, Agrochemicals, & Various Others like textiles & pharmaceuticals.
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Ethanolamine are Ethylene Oxide Derivatives having bi-functional group; alcohol and amine; thus, it can react from both ends giving it a wide range of industrial features. It is commercially produced by reacting ammonia with EO in aqueous acid catalyzed reactor phase. Mono, Di, and Tri-Ethanolamine are produced which are separated from downstream distillation columns. With the conventional method, the ratio of ethanolamine’s generated (MEA: DEA: TEA = 1:1:1) can be altered using catalysts inhibitors to produce more desirable products.
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Ethanolamines span a large number of end markets. It can dissolve oils and is used as a solvent for petroleum industries. MEA’s key use is in production of ethylene amines & chelating agents. It is also used as feedstock & solvent in the production of pharmaceuticals, detergents, polishes, corrosion inhibitors, cosmetics, emulsifiers, and other chemical intermediates. DEA is largely used in the production of agrochemicals mainly, glyphosate, a herbicide, but is also used as a surface-active agents in personal care products, in gas purification, and as a corrosion inhibitor for oil wells & metalworking. A major portion of TEA goes into cosmetics, personal care & detergents, engineering/metallurgy working. Other uses of ethanolamine are as an Ingredient in shampoo, conditioner, fabric softener, cosmetics, pharmaceutical product & textile conditioning. Additionally, they are very desirable as H2S and CO2 absorbents for natural gas treatment.
The growing population coupled with rapid urbanization and industrialization along with increased per capita income have prompted improved quality of life thus creating more demands for ethanolamine for detergents, personal care products, cosmetics, and pharmaceuticals. industries. The agricultural revolution and growing demand for more food crops, grains & fruits have increased the consumption of agrochemicals which require ethanolamine.
Region wise, Asia Pacific with its large population holds the largest demand share of the Ethanolamine having consumption of more than 42% in the region. China & India is the largest market in the region and growing development projects is driving the market in Asia pacific region. In 2020, China has started Zhongke Refining & Chemicals Ltd., in Guangdong province & it is undergoing production at near full efficiency to meet the growing demands and cut imports of the products. They have also levied anti-dumping duties on European and US imports. In India, Amines & Plasticizers ltd., is the largest manufacturer of ethanol & alkanol amine. Balaji Amines Ltd. have also started manufacturing this product along with alkyl amines. The Ethanolamine market is expected that it would grow at a promising pace through 2035 fueled by ongoing healthcare & development projects and growing agriculture, pharmaceuticals & daily use sector in the developing south Asian region. North America holds the largest capacity to make this product and demand wise, it ranks second after APAC owing to growing consumption from end user industries. Europe and MEA region holds the third & fourth large share of ethanolamine in terms of demand, and they export significant portion of their produce to Asia & Africa.
According to ChemAnalyst report, “Ethanolamine Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2035”, Key players for Ethanolamine market globally are Dow Chemical Company (USA), INEOS Oxide (USA, France), Huntsman Corporation (USA), Sadara Chemical (Saudi Arabia), Oxiteno Chemical (Brazil), Saudi Kayan (Saudi Arabia), Dow (Union Carbide) - Petronas JV (Malaysia), Sintez OKA Group of Companies (Russia), Nippon Shokubai (Japan), Lotte Chemical (China), Arak Petrochemical Complex (Iran), Sasol (Germany), IDESA Group (Mexico), Oriental Union Chemical Corp. (OUCC) (Taiwan, China), BASF SE (Global), KPX Green Chemical (South Korea), Amines & Plasticizers Limited (APL) (India), AkzoNobel (Sweden), Petronas Chemicals Group (Malaysia), PTT Global (Thailand) and Others
“Ethanolamine is perceived as an extremely utilized organic compound, which is employed in vast majority of chemical end-user industries. Hence, its broad spectrum of industrial & manufacturing applications is projected to propel the Ethanolamine market growth in the anticipated period. Rapidly growing industries such as, Soaps & detergents, Gas treatment, Cosmetics, Personal care products, Textiles, Agrochemicals, Pharmaceutical & Chemical Synthesis are heavily dependent on it. Ethanolamine’s and their derivatives predominantly find their application in cleaning & water treatment chemical followed by lubricants and rubber industry. Owing to all these applications of Ethanolamine, a rise in its demand is projected to drive its market growth over the forecast period and offer various openings for manufacturers to expand their existing capacities and fill the demand - supply gap in future.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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