USD 1.99 billion
Ethanolamines Market Size, Share, Growth Analysis, By Type(Monoethanolamine (MEA), Diethanolamine (DEA) and Triethanolamine (TEA)), By Application(Detergents, Chemical intermediates) - Industry Forecast 2024-2031
Report ID:
SQMIG15E2400 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
62 |
Figures:
75
Ethanolamines Market Insights
Ethanolamines Market size was valued at USD 1.99 billion in 2021 and is poised to grow from USD 2.1 billion in 2022 to USD 3.17 billion by 2030, at a CAGR of 5.3% during the forecast period (2023-2030).
The Global Ethanolamines Market is a thriving and dynamic industry that encompasses the production, distribution, and application of ethanolamines on a global scale. Ethanolamines, including monoethanolamine (MEA), diethanolamine (DEA), and triethanolamine (TEA), are versatile chemicals used in various sectors such as chemicals, agriculture, personal care, textiles, and pharmaceuticals. The market is driven by several factors, including the growing demand for ethanolamines in the production of surfactants, detergents, and corrosion inhibitors, as well as their use as solvents and intermediates in various industrial processes. Additionally, the increasing awareness about the benefits of ethanolamines, such as their ability to reduce greenhouse gas emissions and their eco-friendly nature, has led to a surge in their adoption in the production of gas treatment agents, herbicides, and other agricultural applications. The market is also influenced by technological advancements and innovations that have improved the production processes, resulting in cost efficiency and enhanced product quality. Geographically, the market is spread across regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa, with Asia Pacific emerging as a dominant market due to the rapid industrialization, expanding agricultural sector, and growing population in countries like China and India. Global market is highly competitive, with key players focusing on research and development activities, strategic partnerships, and mergers and acquisitions to gain a competitive edge. Overall, the market is projected to witness substantial growth in the coming years, driven by the increasing demand for ethanolamines in various industries and the ongoing developments in production technologies.
US Ethanolamines Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Monoethanolamine
Fastest Growth
Monoethanolamine
Growth Rate
5.3% CAGR
Global Ethanolamines Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Ethanolamines Market By Type ($ Bn)
Global Ethanolamines Market By Type (%)
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Ethanolamines Market Segmental Analysis
Global Ethanolamines Market is segmented on the basis of type, application, and region. Based on type, the market can be segmented into Monoethanolamine (MEA), Diethanolamine (DEA) and Triethanolamine (TEA). Based on application, the market is segmented into Detergents. Chemical intermediates, herbicides and metal cleaning and herbicides. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Ethanolamines Market Analysis By Type
The dominant segment in the Global Ethanolamines Market is Monoethanolamine (MEA). MEA is widely used in applications such as gas treatment, personal care products, detergents, and chemical intermediates. Its dominance can be attributed to its versatile nature, excellent solvent properties, and high demand in the production of surfactants and corrosion inhibitors. MEA's extensive usage across various industries and its established market presence contribute to its dominant position in the ethanolamines market.
On the other hand, the fastest-growing segment in the Global Ethanolamines Market is Triethanolamine (TEA). TEA is experiencing significant growth due to its expanding applications in the personal care industry, where it is used as an emulsifier and pH adjuster in skincare and hair care products. The increasing consumer demand for cosmetics and personal care products, coupled with the growing focus on sustainable and natural ingredients, has propelled the demand for TEA. Additionally, TEA's usage in the textile industry as a softener and in the chemical industry as a catalyst further contributes to its rapid growth in the ethanolamines market.
Ethanolamines Market Analysis By Application
The dominant segment in the Global Ethanolamines Market based on application is Detergents. Ethanolamines, particularly monoethanolamine (MEA), are extensively used in the production of detergents due to their excellent surfactant properties. MEA acts as a versatile cleaning agent, emulsifier, and pH adjuster, making it a crucial ingredient in various detergent formulations. The demand for detergents is consistently high across residential, commercial, and industrial sectors, driving the dominance of the detergent segment in the ethanolamines market.
The fastest-growing segment in the Global Ethanolamines Market based on application is Herbicides. Ethanolamines, such as diethanolamine (DEA) and triethanolamine (TEA), are utilized in the formulation of herbicides due to their properties as effective solvents and emulsifiers. The growing global focus on agricultural productivity and the need for efficient weed control have led to an increasing demand for herbicides. Additionally, the shift towards sustainable agriculture practices and the adoption of herbicide-resistant crop varieties have further contributed to the rapid growth of the herbicides segment in the ethanolamines market.
Global Ethanolamines Market By Type, 2023 (%)
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Ethanolamines Market Regional Insights
The dominant region in the Global Ethanolamines Market based on region is Asia Pacific. Asia Pacific holds a significant share in the market due to the presence of major ethanolamine manufacturers and the region's robust industrial and agricultural sectors. Countries like China and India, with their expanding population and rapid industrialization, are driving the demand for ethanolamines in various applications, including detergents, agrochemicals, and personal care products. The growing consumption of ethanolamines in Asia Pacific and the presence of key market players contribute to the region's dominant position in the ethanolamines market.
The fastest-growing segment in the Global Ethanolamines Market based on region is the Middle East and Africa (MEA). MEA is witnessing rapid growth in the ethanolamines market due to increasing industrial activities and infrastructure development in countries like Saudi Arabia, the United Arab Emirates, and South Africa. The region's focus on diversifying its economy and reducing dependence on oil exports has led to investments in various industries where ethanolamines find applications, such as chemicals, detergents, and textiles. The growing demand for ethanolamines in the MEA region, driven by economic development and industrial expansion, positions it as the fastest-growing segment in the ethanolamines market.
Global Ethanolamines Market By Geography, 2024-2031
- Largest
- Fastest
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Ethanolamines Market Dynamics
Ethanolamines Market Drivers
Increasing demand for eco-friendly and sustainable products
- One key driver of the Global Ethanolamines Market is the increasing demand for eco-friendly and sustainable products. Ethanolamines are considered environmentally friendly chemicals, as they have low toxicity and can reduce greenhouse gas emissions in certain applications. The growing awareness and emphasis on sustainability across various industries, such as personal care, agriculture, and chemicals, drive the demand for ethanolamines as a greener alternative, thus fueling market growth.
Ethanolamines Market Restraints
Volatility in raw material prices
- A key restraint of the market is the volatility in raw material prices. The production of ethanolamines relies on raw materials such as ethylene oxide and ammonia, which are subject to price fluctuations influenced by factors like supply-demand dynamics and geopolitical events. Fluctuating raw material prices can affect the overall production costs and profitability of ethanolamines manufacturers, which in turn can pose challenges to the market growth.
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Ethanolamines Market Competitive Landscape
The competitive landscape of the Global Ethanolamines Market is highly fragmented, with numerous players operating globally. The market is characterized by intense competition, driven by factors such as product quality, innovation, pricing strategies, and distribution networks. Key players in the market focus on research and development activities to enhance product performance and expand their application scope. Strategic collaborations, partnerships, and mergers and acquisitions are common strategies employed by companies to strengthen their market presence and gain a competitive edge. Additionally, companies also emphasize sustainability and environmental initiatives to cater to the growing demand for eco-friendly solutions. The competitive landscape is expected to witness further evolution as companies strive to differentiate themselves and capture market share in various regions.
Ethanolamines Market Top Player’s Company Profiles
- INEOS Oxide Ltd. (UK)
- Fushun Beifang Chemical Co. Ltd. (China)
- China Petroleum & Chemical Corporation (China)
- Thai Ethanolamines Co. Ltd. (Thailand)
- Sinopec Shanghai GaoQiao Petrochemical Corporation (China)
- Huntsman Corporation (US)
- Shijiazhuang Haisen Chemical Co. Ltd. (China)
- Jiaxing Jinyan Chemical Co. Ltd. (China)
- SABIC (Saudi Arabia)
- Celanese Corporation (US)
- LyondellBasell (Netherlands/US)
- Invista (US)
- Daicel Chemical Industries Ltd. (Japan)
- Amines & Plasticizers Ltd. (India)
- BALAJI AMINES (India)
- Sintez OKA (Russia)
- Reliance Industries Limited (India)
Ethanolamines Market Recent Developments
- In April 2022, BASF and SINOPEC made an announcement regarding the expansion of their joint venture, BASF-YPC Co., Ltd., in Nanjing. The partners are planning to increase the production capacity of ethanolamines and other chemicals at the Verbund site.
- In March 2022, BASF initiated an expansion project at its Antwerp site to enhance the alkyl ethanolamine capacity. With the construction of a new factory, the aim is to achieve an annual capacity of 140,000 metric tons for alkyl ethanolamines.
- In February 2022, the reform and upgrading project of PetroChina Jilin Petrochemical Company commenced. This project is a significant part of CNPC's strategy to foster growth in its petrochemical and refinery activities. The Jilin project focuses on utilizing green energy and incorporating advanced environmental conservation and energy-saving technologies. It includes the construction of new facilities, such as an ethylene factory, as well as the rehabilitation and closure of existing facilities. The project aims to benefit CNPC's petrochemical and refinery operations, promote the expansion of the local petrochemical industry, and contribute to the revitalization of Northeast China.
- In September 2021, Huntsman announced a capacity increase project at its Petfurdo facility in Hungary. The investment, expected to be completed by mid-2023, aims to enhance the production capabilities of polyurethane catalysts and specialty amino acids. The expansion project will provide improved flexibility, new technologies, and increased capacity to serve industries such as polyurethane, coatings, metals, and electronics.
Ethanolamines Key Market Trends
- Shift towards sustainable and eco-friendly production processes: One key market trend in the Global Ethanolamines Market is the growing focus on sustainable and eco-friendly production processes. Companies in the industry are increasingly adopting and investing in technologies that reduce the environmental impact of ethanolamines production. This trend is driven by the rising demand for green and sustainable products across various sectors. By implementing cleaner and more sustainable production methods, such as using renewable energy sources and reducing emissions, companies aim to meet the growing consumer demand for environmentally friendly solutions and align with global sustainability goals.
Ethanolamines Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Ethanolamines Market analysis, global market is a competitive and dynamic industry driven by factors such as the increasing demand for eco-friendly products and the growing focus on sustainable production processes. Ethanolamines, including monoethanolamine (MEA), diethanolamine (DEA), and triethanolamine (TEA), find diverse applications in sectors such as chemicals, agriculture, personal care, and textiles. The market is characterized by key players who emphasize research and development, strategic partnerships, and mergers and acquisitions to gain a competitive edge. The market is segmented based on type, application, and region, with MEA dominating the market and TEA emerging as the fastest-growing segment. Asia Pacific holds a significant market share, while the Middle East and Africa exhibit rapid growth. The industry faces challenges such as volatile raw material prices. However, the market continues to witness growth, driven by factors like the demand for ethanolamines in detergents and herbicides and the trend towards sustainability and eco-friendliness.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.99 billion |
| Market size value in 2031 | USD 3.17 billion |
| Growth Rate | 5.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ethanolamines Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ethanolamines Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Ethanolamines Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ethanolamines Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ethanolamines Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ethanolamines Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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