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Global Ethanolamine Market to Grow at a CAGR of 3.75% between 2021 and 2026.

According to a new report by EMR titled, Global Ethanolamine Market Report and Forecast 2021-2026', the global ethanolamine market reached a volume of almost 1.9 million metric tons in 2020. The market is further expected to grow at a CAGR of 3.75% in the forecast period of 2021-2026 to reach 2.3 million metric tons by 2026.

The global ethanolamine market is expanding on account of the increasing demand from end-use industries like textiles, cosmetics and personal care, chemicals, pharmaceutical, and others. The market is led by North America, which is a significant market for ethanolamine. The region is being driven by the increasing demand from cosmetics, surface-active chemicals, and emulsifiers sectors. The growing demand for glyphosate and gas purification for the production of natural gas is also driving the growth of the ethanolamine market in North America. The North America region is followed by the Asia Pacific as the other leading market for ethanolamine. The growing herbicides industry is driving the market in the Asia Pacific. The rising food and home and personal care industries in the region are also driving the growth of the ethanolamine market.

Huntsman International LLC is a subsidiary of Huntsman Corporation (NYSE: HUN). It is a major key player in the global ethanolamine market. Huntsman International LLC supplies various types of ethanolamine, namely, monoethanolamine (MEA), diethanolamine (DEA), triethanolamine (TEA), and amides and amine ethoxylates. Ethanolamine offers multiple applications and is produced commercially by the interaction of ethylene oxide with ammonia. They are alkaline and hence react with acids to become esters or salts.

Market Analysis by Application and Region:

  • The market is divided on the basis of application into detergents and personal care, pesticides, gas purification, cement, and wood preservation, among others.
  • Regionally, the market is divided into North America, Europe, the Middle East, and Africa, the Asia Pacific, and Latin America.

Key Findings of The Report:

  • The global ethanolamine market is driven by the pesticide industry, also known as glyphosate industry, which uses ethanolamine as its raw material.
  • The growing major downstream industries, such as detergents and personal care products, are aiding the market for ethanolamine.
  • The rising disposable income and improving economic conditions in Asia and other emerging nations are further enhancing the market growth.
  • The increase in the global construction industry due to rapid urbanisation positively impacts the demand for ethanolamine, as the product is used in the cement industry to produce cement grinding aids and performance enhancers.
  • The rising gas treatment application for the removal of acidic impurities such as carbon dioxide and hydrogen sulphide is providing further impetus to the market growth of ethanolamine.

Key Offerings of the Report:

  • The EMR report gives an overview of the global ethanolamine market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the application and regional markets of ethanolamine.
  • It gives an in-depth look at the regional price trends in the global ethanolamine market for the periods (2016-2020) and (2021-2026).

BASF SE, Dow Chemical Company, INEOS Capital Limited, Huntsman International LLC, Nouryon, Saudi Kayan Petrochemical Co., and Nippon Shokubai Co., Ltd, among others, are the key players in the global ethanolamine market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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