Polyetheramine Market Size, Share & Trends Analysis Report By Product (Monoamine, Diamine), By Application (Polyurea, Fuel Additives), By Region, And Segment Forecasts, 2023 - 2030

Polyetheramine Market Size, Share & Trends Analysis Report By Product (Monoamine, Diamine), By Application (Polyurea, Fuel Additives), By Region, And Segment Forecasts, 2023 - 2030

Polyetheramine Market Growth & Trends

The global polyetheramine market size is anticipated to reach USD 1.44 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 5.1% from 2023 to 2030. One of the key drivers of the market is their extensive use in the manufacturing of epoxy coatings and adhesives. Epoxy coatings are widely used in industries such as aerospace, construction, and automotive for their excellent corrosion resistance and adhesion properties to a variety of substrates such as old paint and steel.

In addition, polyetheramines are essential curing agents in epoxy formulations, as they enhance the durability as well as the performance of these coatings. In March 2022, the global coatings market PPG announced the launch of a new multipurpose epoxy coating, Amerlock 600, to be used for various field purposes. It would provide high performance on steel substrates including stainless steel, carbon steel, as well as marginally prepared surfaces.

Increasing environmental concerns globally and regulations have also played a crucial role in boosting the polyetheramine industry. As governments worldwide are implementing stricter environmental regulations and norms, there is a growing emphasis on using eco-friendly and low-VOC (volatile organic compound) products that evaporate and transfer harmful chemicals into the air. For instance, in the UK, the government has implemented the VOC in paints, as per the Varnishes and Vehicle Refinishing Products Regulations 2012, to control VOC content in products. Polyetheramines are favored for their low toxicity and minimal VOC emissions unlike traditional coatings infused with toluene, benzene, formaldehyde, and others, making them a preferred choice in industries where environmental compliance is essential.

Another major driver of polyetheramine is the increasing demand from the infrastructure and construction sectors. Polyetheramines find usage in a variety of applications in construction materials such as adhesives, sealants, and coatings. The increasing amount of construction activities occurring globally, particularly in developing countries such as China and India has greatly increased the expanse of the construction industry. The global construction market is expected to reach USD 15.2 trillion in 2030 with India, China, the U.S., and Indonesia accounting for approximately 58% of global growth. This growth is expected to help increase the usage of polyetheramine in the construction industry in the long term.

Numerous manufacturing enterprises are actively engaging in strategic endeavors, including the introduction of new products, and the expansion of production capacities, among others to fulfill demand from end-use industries. As an example, in December 2021, Zibo Zhengda announced its intention to construct a polyetheramine facility with a capacity of 90,000 tons in Maqiao Industrial Park, Huantai County, a chemical park within the province. The company's plan entails commencing production at a rate of 40,000 tons by July 2022 and subsequently scaling up to an additional 50,000 tons in 2023, aligning with efforts to achieve carbon reduction goals and support the production of clean energy materials.

Polyetheramine Market Report Highlights

• In terms of product, the diamine segment is anticipated to register the fastest CAGR of 4.7% from 2023 to 2030 due to an increase in its usage in applications in epoxy coatings and adhesives, hence making it useful in a range of industries such as automotive, construction and industrial coatings
• Based on application, the composites segment is anticipated to register the fastest CAGR of 4.5% over the forecast period due to increasing usage in aerospace and defense sectors, turbines, and production of sports equipment
• Based on region, North America is anticipated to register the fastest CAGR of 5.2% from 2023 to 2030 due to the presence of large manufacturers in the automotive sector, large-scale construction activities, as well as other industrial manufacturing in the region
• Polyetheramines show the characteristics of increasing viscosity with increasing molecular weight, fluidity in low temperatures, thermal oxidation stability as well and lubricity. This makes it ideal to be used in the manufacturing of lubricants in the oil & gas industry

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