Ethanolamine Market Outlook
According to a new report by Expert Market Research titled, “Ethanolamine Market Size, Share, Analysis, Report and Forecast 2024-2032″, the global ethanolamine market is projected to grow at a CAGR of 3.75% between 2024 and 2032. Aided by the increasing demand for ethanolamine in diverse applications, such as surfactants, chemical intermediates, and agricultural chemicals, the market is expected to grow significantly by 2032.
Ethanolamine, also known as monoethanolamine (MEA), is a versatile organic chemical compound. It is a primary amine and a primary alcohol, making it a valuable ingredient in the production of a wide array of industrial chemicals, including detergents, emulsifiers, and pharmaceuticals.
Ethanolamine’s utility spans across various industries which is bolstering the ethanolamine market demand. In the cleaning sector, it is a core component of surfactants found in laundry detergents and dishwashing liquids. As an emulsifying agent, it is extensively used in cosmetics and personal care products, where it helps in the stabilisation of oil and water mixtures. Its function as a chemical intermediate is notable in the production of emulsifiers and demulsifiers in the textile sector, as well as corrosion inhibitors in antifreeze fluids.
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Furthermore, ethanolamine is indispensable in the agricultural sector, where it is used to produce herbicides and other agrochemicals. As global demand for food rises in line with a growing global population, agrochemicals that enhance crop yields will likely see increased demand, thereby indirectly driving the ethanolamine market growth.
One of the key growth drivers for the ethanolamine market is its escalating demand in the production of surfactants, which are integral in various consumer products. As living standards rise globally, particularly in emerging economies, demand for these consumer products is expected to grow, thereby fuelling the market expansion.
Moreover, the surge in the demand for personal care products and cosmetics, particularly in developing regions where consumer spending is on the rise, has driven significant growth in the ethanolamine market. The compound’s emulsifying properties are essential in the formulation of lotions, creams, and other skincare products, which are seeing robust sales in line with a global trend towards self-care and wellness.
Asia Pacific accounts for a significant portion of the ethanolamine market share, driven by a booming industrial sector and a growing middle class with increasing purchasing power. China and India are significant players in this region, owing to their expansive agricultural and industrial sectors.
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Ethanolamine Market Segmentation
The market can be divided based on application and region.
Market Breakup by Application
- Detergents & Personal Care
- Pesticides
- Gas Purification
- Cement
- Wood Preservation
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global ethanolamine market. Some of the major players explored in the report by Expert Market Research are as follows:
- BASF SE
- The Dow Chemical Company
- INEOS AG
- Nouryon Chemicals Holding B.V.
- Saudi Kayan Petrochemical Company SJSC
- Nippon Shokubai Co., Ltd.
- Others
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