The global ethanolamines market is expected to reach USD 4,240.4 Million by 2028, according to a new report by Reports and Data. A growing demand for ethanolamines from the metallurgy industry is one the significant factors influencing market growth. Ethanolamines often find application as neutralizers of acidic constituent, primarily responsible for the corrosion of metal surfaces, in lubricants. This chemical is used to provide alkalinity to water-soluble grinding and cutting fluids, needed to offer protection from rusting. Moreover, it is deployed as an intermediate in the production of emulsifiers, corrosion inhibitors, and biocides, among others.
Monoethanolamine often finds application as a preferred solvent in carbon CO2 (carbon dioxide) scrubbing processes. Recently, these types of scrubbing systems are increasingly being built is attributed to the growing focus on carbon dioxide capture and sequestration (CCS) notion related to initiatives for CO2-free power generation. Technological development of this solvent absorption system along with its exceptional features, including fast reaction kinetics, high loading capacity for carbon dioxide at low partial pressures, and high removal efficiencies, are likely to drive the market growth in the forecast period.
Top Companies Operating in the Global Ethanolamines Market:
Huntsman Corporation, Dow Chemical Company, CNPC, BASF SE, Alkyl Amines Chemical Ltd., Daicel Chemical Industries, Thai Ethanolamines Company, INEOS Oxide Limited, Celanese Corporation, and AkzoNobel
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Further key findings from the report suggest
- By product type, monoethanolamine contributed to the largest market share in 2018 and is likely to grow at a rate of 4.3% in the forecast period. It is chiefly used as feedstock in the production of detergents, polishes, emulsifiers, corrosion inhibitors, pharmaceuticals, and chemical intermediates. The potential demand for monoethanolamine is in ethylene amines and triazines markets.
- By application, surfactants dominated the market size in 2018 and is estimated to grow at a rate of 4.5% in the period 2019-2027. The application of ethanolamines in surfactants is used to remove dirt, stains, and dirt. DEA is a commonly used ingredient in industrial cleaning products, including industrial strength detergents and engine degreasers, as it breaks down oil and grease.
- By industry vertical, metallurgy industry accounted for the largest market share in 2018 and is projected to witness a growth rate of 4.3% in the forecast period.
- The Asia Pacific region is anticipated to witness the highest CAGR of 5.4% in the forecast period, attributed to a growing demand from the end-user industries including metallurgy, construction, and cosmetics, among others, and a rise in the level of disposable income in countries, such as China India.
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Ethanolamines Market Segmentation
Product Type Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Monoethanolamine (MEA)
- Diethanolamine (DEA)
- Triethanolamine (TEA)
Application Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Surfactants
- Absorbents
- Lubricants
- Corrosion Inhibitors
- Solvents
- Others
Industry Vertical Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Metallurgy
- Agriculture
- Construction
- Cosmetic
- Oil Gas
- Textile
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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