Polyetheramine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Polyetheramine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The market for Polyetheramine is expected to grow at a CAGR of over 9% during the forecast period. Major factors driving the market studied are increasing demand from construction industry and growing trend of eco-friendly and renewable energy generation. On the flipside, growing environmental concern due to excessive use of polyetheramines and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of market.

Expansion in industries such as cement additives and acid neutralization is expected to offer various opportunities for the growth of market.

By application, composites segment is expected to dominate the market owing to the increasing use of poyetheramine as an additive to improve the property of composites in wind turbine blades.

Asia-Pacific region dominated the market across the globe with the largest consumption from countries such as China, India and Japan.

• Polyetheramine are typical curing agents that comprise of polyether and amine molecules and are used to enhance properties of end products such as flexibility, hydrophobicity, hydrophilicity and toughness.
• Rising usage of polyetheramine based composites in the wind energy industry is projected to drive the market of polyetheramine during the forecast period.
• Polyeteramines are widely used in composites applications as they provide critical balance between strength and flexibility.
• Furthermore, polyetheramines based composites are designed to replace wood, metal and concrete and are useful in highly demanding applications such as aerospace, automotive parts and wind turbine blades owing to their lightweight design and high dielectric strength combined with high resistance to environmental degradation.
• The global automotive composites material market is projected to reach USD 18.33 billion in the year 2025 owing to increasing usage as they enhance electric vehicle efficiency by reducing vehicle weight which is expected to create lucrative opportunities for the polyetheramine market to grow during the forecast period.
• Owing to all the above-mentioned factors for polyetheramine, its market is expected to grow rapidly over the forecast period.

• Asia-Pacific region is expected to dominate the market for polyetheramine during the forecast period. In countries like China and India owing to the increasing demand from wind energy and construction & building applications, the demand for polyetheramine has been increasing in the region.
• Polyetheramine are widely used as additive in adhesives to adhere two parts of blades and in composites used in wind turbine blades owing to which there is high demand of polyetheramine in wind energy applications which will propel its market during the forecast period.
• Additionaly, governments of countries like India and China have emphasized on producing green and renewable energy which will increase the demand of polyetheramine in wind energy industry. China government has setup a roadmap and targets to reach wind power capacity of more than 210 GW in the year 2020.
• Polyetheramines are widely used as epoxy coatings in construction and building applications as epoxy coatings helps in sealing the surface of concrete and prevents the rapid loss of moisture.
• The construction industry in Asia-Pacific is projected to grow at a CAGR of over 5% during the forecast period owing to increasing population, urbanization and industrialization which will create high demands for epoxy coatings and consequently polyetheramine and therefore propel the polyetheramine market in the region.
• Some of the major companies operating in Asia-Pacific region are Dasteck, Yangzhou Chenhua New Material Co., Ltd., and BASF SE.
• The aforementioned factors, coupled with government support, are contributing to the increasing demand for polyetheramine during the forecast period.

The polyetheramine market is consolidated with key players accounting for a major share of the market. Some key companies in the market include Huntsman International LLC, BASF SE, Clariant, Dasteck, and Yangzhou Chenhua New Material Co., Ltd.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support