Global Ethanolamines Market - 2022-2029
Market Overview
The global ethanolamines market reached US$ XX million in 2021 and is expected to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period 2022-2029.
Ethanolamines are high-class intermediates with distinct reactivity and solvent characteristics, making them useful in a wide range of applications. Ethanolamines can freeze at room temperature. Ethanolamines are widely used in various applications, including surfactants for detergents and cleaning products, process chemicals for gas treatment, manufacture crop protection agents and wood protectants, lubricants and cement additives and active pharmaceutical ingredients.
Market Dynamics
The growing demand for agrochemicals, which is one of ethanolamines' major applications, is expected to drive the market. However, the toxic effects of ethanolamine on health are likely to restraint the market.
The growing demand for agrochemicals which is one of the major applications of ethanolamines
Agrochemicals are essential components of modern agriculture, as they enable farmers to improve soil nutrients, control pests, boost growth and avoid fungus damage. Agrochemicals are used in all aspects of agriculture, from commercial planting to dairy farming and subsistence to industrial agriculture.
Agricultural intensification has occurred in recent decades due to rising food demand caused by the rapid rise of the human population. Plant-based foods are the most popular dietary trend in western countries, including UK, U.S. and Canada. Furthermore, Africa's agricultural market is one of the world's largest, with agriculture accounting for roughly 23% of Sub-Saharan Africa's GDP. There is still a lot of capacity and demand for agricultural products across the continent, which presents a big potential for agrochemical companies.
According to industry analysts, the agrochemical sector will increase by 12% in the next few years as more customers emphasize health, well-being and sustainability. As a result of the rising demand for agrochemicals, ethanolamine manufacturers have raised their prices to keep up the demand. For instance, in 2017, BASF raised their European sales pricing for all types of ethanolamines (EOA) by US$ 135 per metric ton.
The toxic effects of ethanolamine on health are likely to restraint the market
Ethanolamine is an acidic substance that can irritate and burn the skin and eyes, causing damage to the eyes. Ethanolamine can also irritate the lungs and throat, producing coughing and shortness of breath. As a result, ethanolamine is on OSHA's hazardous substance list and noted by the DOT, ACGIH, NIOSH and NFPA.
Furthermore, the European Commission has banned DEA in cosmetics due to concerns about the production of carcinogenic nitrosamines. Any substance that is designated as a carcinogen is capable of producing cancer in live tissue. Furthermore, research has connected long-term and frequent use of MEA, DEA and TEA-containing goods to liver tumors, leading to organ system damage and increased cancer risk.
COVID-19 Impact Analysis
COVID-19 has impacted the chemicals sector, as it has on other industries. As a petrochemical, methanolamine is strongly reliant on the oil and gas industries. The oil, gas and chemicals industries experienced an unexpected turn in the first quarter of 2020. The industry felt the dual consequences of the COVID-19-related economic slowdown and the oil price fall.
The disaster exacerbated an oversupply scenario for certain chemical companies. The economic downturn lowered demand in both domestic and international markets. Furthermore, due to their reliance on local ethane, U.S. petrochemical businesses' feedstock cost advantage has eroded, potentially rendering their goods less competitive in an ever-difficult market.
Segment Analysis
Based on application, the global ethanolamine market is segmented into agrochemical, gas treatment, household cleaning, paraffin and wax and others.
Natural gas must be sweetened or treated before end-users can use it. Water, hydrogen sulfide (H2S) and carbon dioxide (CO2) must be eliminated. Gas sweetening methods are constantly being improved in terms of efficiency and cost. Recent research has focused on adsorption and absorption approaches, such as wet absorption and dry adsorption. A single chemical solvent, such as monoethanolamine (MEA), diethanolamine (DEA) or methyl diethanolamine (MDEA), is used in the technique.
In general, DEA is less reactive than MEA. Refinery gas streams, for example, can be successfully treated with significant volumes of COS and carbon disulfide (CS2). Resistance to COS and CS2 degradation and a low solvent vapor pressure results in possibly lower solvent losses, a less corrosive character and a lower solvent cost when compared to MEA.
Over the last decade, MDEA solvents have gained significant market share. MDEA's commercial success stems from its capacity to selectively remove H2S from a gas stream containing CO2 and H2S while slipping a large amount of CO2.
Geographical Analysis
The global ethanolamines market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa based on geography.
Asia-Pacific has a significant share of the global ethanolamine market, with China and India consuming the most. In terms of GDP, China is the world's largest economy. Due to increased population, living standards and per-capita income, China is one of the world's fastest-growing economies, with practically all end-user industries expanding.
Ethanolamines are used in various industries, such as gas treatment, cement grinding, medicines, agricultural and personal care products. Furthermore, ethanolamines are frequently utilized in the construction industry, including cutting fluids, concrete setting accelerators, corrosion inhibitors and asphalt chemicals. Henceforth, the region's growing building & construction sector is expected to drive the market.
Competitive Landscape
The global ethanolamines market is extremely competitive and fragmented due to several multinational companies. Major players in the market include Sintez OKA Group of Companies, Merck KGaA, BASF SE, Oxiteno, Dow, Nouryon, SABIC, HUNTSMAN CORPORATION, Jay Dinesh Chemicals, Thai Ethanolamines Co., Ltd among others. The major players in the market are known to incorporate numerous market strategies to achieve growth in the global ethanolamines market; these include mergers, acquisitions, product launches, contributions and collaborations.
BASF SE
Overview: BASF SE is a Germany-based multinational company specializing in manufacturing and supplying chemicals. The company operates six (6) incorporated production sites and 390 other production sites in Europe, America, Asia-Pacific and Africa. In addition, it is headquartered in Ludwigshafen, Germany.
Product Portfolio: BASF SE manufactures ethanolamines for various applications, including agrochemicals, cosmetic and gas treatment.
Key Development:
In August 2021, BASF SE and SINOPEC extended their Verbund site in Nanjing, China, run by BASF-YPC Co., Ltd. (BASF-YPC), a 50-50 joint venture between them the two firms. The expansion comprises an increase in the capacity of several downstream chemical plants, including ethanolamines.
Why Purchase the Report?
To visualize the global ethanolamines market segmentation by type, form, grade, application, end-user and region and understand key commercial assets and players.
Identify commercial opportunities in the global ethanolamines market by analyzing trends and co-development.
Excel data sheet with numerous data points of ethanolamines market-level with five segments.
PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
Product mapping available as excel consisting of key products of all the major market players
The global ethanolamines market report would provide approximately 77 tables, 77 figures and almost 219 pages.
Target Audience 2022
Service Providers/ Buyers
Petrochemical Companies
Oil and Gas Companies
Personal Care & Cosmetic Business
Research Professionals
Manufacturers
- 1. Global Ethanolamines Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Global Ethanolamines Market – Market Definition and Overview
- 3. Global Ethanolamines Market – Executive Summary
- 3.1. Market Snippet by Type
- 3.2. Market Snippet by Form
- 3.3. Market Snippet by Grade
- 3.4. Market Snippet by Application
- 3.5. Market Snippet by End-User
- 3.6. Market Snippet by Region
- 4. Global Ethanolamines Market-Market Dynamics
- 4.1. Market Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. The growing demand for agrochemicals which is one of the major applications of ethanolamines
- 4.1.1.2. XX
- 4.1.2. Restraints
- 4.1.2.1. The toxic effects of ethanolamine on health
- 4.1.3. Opportunity
- 4.1.3.1. XX
- 4.1.4. Impact Analysis
- 5. Global Ethanolamines Market – Industry Analysis
- 5.1. Porter's Five Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 6. Global Ethanolamines Market – COVID-19 Analysis
- 6.1. Analysis of COVID-19 on the Market
- 6.1.1. Before COVID-19 Market Scenario
- 6.1.2. Present COVID-19 Market Scenario
- 6.1.3. After COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
- 7. Global Ethanolamines Market – By Type
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 7.1.2. Market Attractiveness Index, By Type
- 7.2. Monoethanolamine (MEA)*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Diethanolamine (DEA)
- 7.4. Triethanolamine (TEA)
- 8. Global Ethanolamines Market – By Form
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 8.1.2. Market Attractiveness Index, By Form
- 8.2. Liquid*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Solid
- 9. Global Ethanolamines Market – By Grade
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 9.1.2. Market Attractiveness Index, By Grade
- 9.2. 98%*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. 99%
- 9.4. 99.5%
- 9.5. Others
- 10. Global Ethanolamines Market – By Application
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.1.2. Market Attractiveness Index, By Application
- 10.2. Agrochemicals*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Gas Treatment
- 10.4. Household Cleaning
- 10.5. Paraffin and Wax
- 10.6. Others
- 11. Global Ethanolamines Market – By End-User
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.1.2. Market Attractiveness Index, By End-User
- 11.2. Cosmetics & Personal Care*
- 11.2.1. Introduction
- 11.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 11.3. Agriculture
- 11.4. Pharmaceutical
- 11.5. Food & Beverage
- 11.6. Paint and Coating
- 11.7. Others
- 12. Global Ethanolamines Market – By Region
- 12.1. Introduction
- 12.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 12.1.2. Market Attractiveness Index, By Region
- 12.2. North America
- 12.2.1. Introduction
- 12.2.2. Key Region-Specific Dynamics
- 12.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 12.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12.2.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.2.8.1. U.S.
- 12.2.8.2. Canada
- 12.2.8.3. Mexico
- 12.3. Europe
- 12.3.1. Introduction
- 12.3.2. Key Region-Specific Dynamics
- 12.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 12.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12.3.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.3.8.1. Germany
- 12.3.8.2. UK
- 12.3.8.3. France
- 12.3.8.4. Italy
- 12.3.8.5. Russia
- 12.3.8.6. Rest of Europe
- 12.4. South America
- 12.4.1. Introduction
- 12.4.2. Key Region-Specific Dynamics
- 12.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 12.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12.4.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.4.8.1. Brazil
- 12.4.8.2. Argentina
- 12.4.8.3. Rest of South America
- 12.5. Asia-Pacific
- 12.5.1. Introduction
- 12.5.2. Key Region-Specific Dynamics
- 12.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 12.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12.5.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.5.8.1. China
- 12.5.8.2. India
- 12.5.8.3. Japan
- 12.5.8.4. Australia
- 12.5.8.5. Rest of Asia-Pacific
- 12.6. Middle East and Africa
- 12.6.1. Introduction
- 12.6.2. Key Region-Specific Dynamics
- 12.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 12.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.6.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 13. Global Ethanolamines Market – Competitive Landscape
- 13.1. Competitive Scenario
- 13.2. Market Positioning/Share Analysis
- 13.3. Mergers and Acquisitions Analysis
- 14. Global Ethanolamines Market- Company Profiles
- 14.1. Sintez OKA Group of Companies*
- 14.1.1. Company Overview
- 14.1.2. Product Portfolio and Description
- 14.1.3. Key Highlights
- 14.1.4. Financial Overview
- 14.2. Merck KGaA
- 14.3. BASF SE
- 14.4. Oxiteno
- 14.5. Dow
- 14.6. Nouryon
- 14.7. SABIC
- 14.8. HUNTSMAN CORPORATION
- 14.9. Jay Dinesh Chemicals
- 14.10. Thai Ethanolamines Co., Ltd
- LIST NOT EXHAUSTIVE
- 15. Global Ethanolamines Market – Premium Insights
- 16. Global Ethanolamines Market – DataM
- 16.1. Appendix
- 16.2. About Us and Services
- 16.3. Contact Us
Research Assistance
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook