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Global Monoethanolamine Market Expected to Reach 2.25 MMT by 2026, Driven by the Growing Demand from the Detergents Industry

According to a new report by EMR titled, 'Global Monoethanolamine Market Report and Forecast 2021-2026', the global monoethanolamine demand reached a volume of almost 1.84 million metric tons in 2020. The demand is further expected to grow at a CAGR of 3.5% in the forecast period of 2021-2026 to reach a volume of around 2.25 million metric tons by 2026.

The global monoethanolamine industry is being driven by the rising demand for the product from the detergent sector. Due to growing awareness regarding personal hygiene, the demand for detergents and surfactants are on the rise. Monoethanolamine has the unique quality of alkaline permissibility, which helps clean and protect clothes from further soiling.

The Asia Pacific region contributes significantly to the market growth as the region is witnessing a drastic change owing to the increasing disposable incomes, rapid urbanisation, and changing lifestyles. The region is also expected to present robust growth opportunities for the monoethanolamine industry due to the presence of an expanding detergents industry, especially in its developing economies.

Dow Chemical Company (NYSE: CTA-B), a major key player within the industry, is offering innovative cleaning solutions. The company offers solutions to prepare high-efficiency laundry detergent that outdoes the ordinary cleaning, by offering a combination of efficiency, multifunctional performance, and sustainability. The growing demand for cleaning solutions like detergents, with the rising standards of living, is expected to boost the market growth of monoethanolamine.

Market Analysis by Application and Region:

  • The monoethanolamine industry, on the basis of application, is divided into detergents, personal care, textile, wood preservation, agrochemical, and metal cutting, among others.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The monoethanolamine industry is driven by the product’s wide applications in multiple industries, such as chemical and textile industry.
  • The product is extensively used in the chemical industry to facilitate the removal of primary contaminant carbon dioxide (Co2) and hydrogen sulphide, popularly known as gas scrubbing or gas sweetening.
  • The product is widely used in the manufacture of detergents as it provides alkaline permissibility, making it suitable for cleaning and safeguarding the clothes from soil or dirt deposition.
  • Within textiles industry, the product is used to produce softeners and dye auxiliaries, owing to its hygroscopic property.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for monoethanolamine for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the applications and the regional markets of monoethanolamine. 
  • It gives an in-depth look at the regional price trends in the monoethanolamine industry.
  • It analyses the global trade data for the market, looking into the value and volume of the significant importing as well as exporting countries.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

Nippon Shokubai Co., Ltd., BASF SE, Dow Chemical Company, Nouryon, and Saudi Basic Industries Corporation (SABIC), among others, are the key players in the global monoethanolamine 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 thrive 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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