Ethanolamines Market: Global Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Product, and Application.

The Ethanolamines Market size was valued at USD 3.52 Billion in 2023 and the total Ethanolamines Market revenue is expected to grow at a CAGR of 3.07% from 2024 to 2030, reaching nearly USD 4.35 Billion.
Ethanolamines Market Overview:
Ethanolamine, also known as 2-aminoethanol or monoethanolamine, is an organic chemical compound characterized by its dual nature as a primary amine and a primary alcohol. This product, recognized for its corrosive, flammable, toxic, colorless, and viscous properties, finds application in solutions and dispersions for acid scrubbing, as feedstock material in detergent manufacturing, emulsification agents, and other chemical intermediaries.

The robust global trend of industrialization emerges as a primary catalyst propelling the growth of the ethanolamines market. Increased utilization of the product as feedstock for detergent, polish, and pharmaceutical manufacturing, coupled with heightened demand from key industries like herbicides, detergents, and textiles, contributes to accelerated market growth. The growing application scope, encompassing construction chemicals and corrosion inhibitors for metal protection, along with the product's preference in various industries owing to its role as a weak base compound and an essential head group for phospholipids, further shapes the positive trajectory of the ethanolamines market.To Know About The Research Methodology :- Request Free Sample Report

Government Regulations: Ethanolamines Market

The production, usage, and disposal of ethanolamines are subject to stringent regulations imposed by the U.S. Environmental Protection Agency (EPA) under the Toxic Substances Control Act (TSCA).

Within the European Union, a comprehensive set of regulations has been implemented to mitigate the environmental impact of chemicals used in consumer products, with a specific focus on ethanolamines market. These regulations encompass the Regulation on Registration, Evaluation, Authorization, and Restriction of Chemical Substances (REACH). Additionally, the European Chemicals Agency has established restrictions and labeling requirements for hazardous substances present in consumer products containing ethanolamines market.

In Japan, adherence to the Toxic Substance Control Law is mandatory for manufacturers involved in the production or utilization of ethanolamines in consumer products.

Similarly, the Chinese government has implemented a series of regulations designed to diminish the environmental footprint of chemicals and ensure consumer safety, including labeling requirements for hazardous substances found in products containing ethanolamines.
Ethanolamines Market Dynamics:
the growth of the ethanolamines market is expected to be propelled by an increasing demand from key end-use sectors such as herbicides, detergents, and textiles over the next six years. Additionally, it serves as a crucial raw material in the production of detergents, polishes, and pharmaceuticals. The robust economic growth and rapid industrialization in developing nations of the Asia Pacific, notably China and India, are expected to play a pivotal role in driving ethanolamines market growth. Ethanolamines, existing as a colorless, toxic, explosive, corrosive, and viscous liquid, find diverse applications in various dispersion and solution processes. It is categorized into triethanolamine (TEA), monoethanolamine (MEA), and diethanolamine (DEA) based on its chemical components. Herbicides are projected to surpass pesticides as the leading application segment during the forecast period, while the demand for building chemicals and corrosion inhibitors for metal protection is set to increase.

The development of the ethanolamines market in the next six years will be further driven by the growing demand for surfactants in Europe and North America. Its wide-ranging usage across various sectors is attributed to its role as a weak base compound and its essential contribution to phospholipids. These factors collectively contribute to the global growth of the ethanolamines market throughout the forecast period. The increasing per capita disposable income and heightened consumer awareness are expected to boost the personal care business in the Asia Pacific and South America.

Ethanolamines play a common role in the personal care sector, being utilized in the production of liquid soaps, bath foams, and shampoos. However, the industry faces challenges of oversupply due to capacity growths and increased investments in raw materials. Additionally, ethanolamine is considered a corrosive substance that can cause irritation and burns to the skin and eyes, posing potential risks of eye injury. Furthermore, inhalation of ethanolamine may lead to health issues such as coughing, wheezing, and shortness of breath, causing irritation to the nose, throat, and lungs.
Ethanolamines Market Segment Analysis:
The Ethanolamine market is segmented into Mono Ethanolamine, Di Ethanolamine, and Tri Ethanolamine based on types. Currently, Mono Ethanolamine holds a dominant position in the global Ethanolamine market, commanding a market share of approximately 52% in 2023. It is expected to maintain its dominance in the years to come. Mono Ethanolamine is extensively employed in various applications such as polishes, hair-waving solutions, the production of surface-active compounds, and serving as a dispersant for agricultural chemicals. Its uses span across surfactants, textile finishing, wood treatment, personal care products, corrosion inhibitors in oil well chemicals and metalworking, as well as a dispersant for agricultural chemicals. Mono Ethanolamine also plays a significant role in the manufacturing of ethylenediamines.Di Ethanolamine finds common application in soap manufacturing, as well as in the production of surfactants for laundry detergents, cosmetics, and hair conditioning and shampoos. Its uses extend to gas purification, the production of cement additives, and in the manufacturing of agrochemicals and herbicides. Triethanolamine is predominantly utilized in detergents, gas treatment, and personal care products.
Ethanolamines Market Regional Analysis:
The Asia-Pacific region has taken the lead in the global ethanolamines market, with China and India being the primary consumers. Notably, China boasts the strongest economy in terms of GDP. The rapid growth of China's economy can be attributed to factors such as a growing population, improving living standards, and increasing per-capita income. China stands as one of the world's fastest-growing economies, with virtually all end-user industries experiencing growth. North America is poised for significant growth, driven by substantial demand from crucial end-use sectors like personal care, detergents, and herbicides. Among the North American regions, the United States emerges as one of the largest consumers of ethanolamines. The ethanolamines market is expected to benefit from ongoing developments and innovations in new applications.
In Europe, growth is expected to be moderate over the next seven years owing to ethanolamines market saturation in key end-use sectors. However, an increased consumption of agrochemicals and herbicides in the region is projected to contribute to industry growth throughout the forecast period. The Middle East, Africa, and South America ethanolamines market are set to experience substantial expansion, primarily driven by rising demand from the construction and personal care industries.
Ethanolamines Market Industry News:
The PetroChina Jilin Petrochemical Company initiated its restructuring and enhancement project in February 2022. The Jilin project plays a crucial role in CNPC's commitment to achieving its objectives and fostering robust growth in its petrochemical and refinery operations. Distinguished by its utilization of cutting-edge environmental conservation and energy-saving technology, this initiative represents CNPC's first chemical project entirely powered by green energy for green supply chain management. The project encompasses the construction of 21 new facilities, including an ethylene plant, along with the refurbishment and closure of nine existing facilities. Beyond benefiting CNPC's petrochemical and refinery operations, the project aims to contribute to the expansion of the local petrochemical industrial chain and the revitalization of Northeast China.

Huntsman announced a capacity expansion for polyurethane catalysts and specialty amino acids at its facility in Petfurdo, Hungary In September 2021. Expected to be completed by mid-2023, this multimillion-dollar investment project aims to enhance global capacity and provide greater flexibility and new technologies to the polyurethane, coatings, metalworking, and electronics sectors.
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Global Ethanolamines Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 3.52 Bn.


Forecast Period 2024 to 2030 CAGR:
3.07%
Market Size in 2030:
US $ 4.35 Bn.


 Segments Covered:
by Product Type
Monoethanolamine
Diethanolamine
Triethanolamine


by Application
Surfactants
Chemical Intermediates
Herbicides
Gas Treatment
Others



Global Ethanolamines Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Ethanolamines Market Key players:
Ethanolamines Producers in North America
DowDuPont (US)
Huntsman Corporation (US)
Celanese Corporation (US)
LyondellBasell (Netherlands/US)
Invista (US)

Ethanolamines Producers Europe
BASF SE (Germany)
Thai Ethanolamines Co. Ltd. (Thailand)
Sintez OKA (Russia)

Ethanolamines Producers Asia Pacific
Fushun Beifang Chemical Co. Ltd. (China)
China Petroleum & Chemical Corporation (China)
Sinopec Shanghai GaoQiao Petrochemical Corporation (China)
Shijiazhuang Haisen Chemical Co. Ltd. (China)
Jiaxing Jinyan Chemical Co. Ltd. (China)
Daicel Chemical Industries Ltd. (Japan)
Amines & Plasticizers Ltd. (India)
BALAJI AMINES (India)
Reliance Industries Limited (India)

Ethanolamines Producers Middle East & Africa
SABIC (Saudi Arabia)
FAQs:
1. What are the growth drivers for the Ethanolamines market?
Ans. Rapid industrialization, particularly in emerging economies like China and India, contributes to the growth of the ethanolamines market.

2. What is the major challages for the Ethanolamines market growth?
Ans. Ethanolamines are known to pose environmental and health risks. Concerns about their impact on the environment and potential health hazards, such as skin and eye irritation, pose challenges to the Ethanolamines market.

3. Which region is expected to lead the global Ethanolamines market during the forecast period?
Ans. APAC is expected to lead the global ethanolamines market during the forecast period.

4. What is the projected market size & and growth rate of the Ethanolamines Market?
Ans. The Ethanolamines Market size was valued at USD 3.52 Billion in 2023 and the total Ethanolamines Market revenue is expected to grow at a CAGR of 3.07% from 2024 to 2030, reaching nearly USD 4.35 Billion.

5. What segments are covered in the Ethanolamines Market report?
Ans. The segments covered in the Ethanolamines market report are product and application