Global Ethanolamines Market Research Report 2016 - 2024: TMR
ALBANY, New York, April 25, 2017 /PRNewswire/ --
The global market for ethanolamines is highly fragmented and holds out a strong promise of growth for the numerous companies jostling for greater share in the market. The only entry barrier in the industry is the substantial initial investment. Once aspiring players have managed to raise the upfront capital, they can hope to benefit from the easy availability ammonia and ethylene oxide, reduced threat from substitutes, and a highly aware consumer base.
A report by Transparency Market Research uncovered that the five main companies in the global ethanolamines market, namely the Dow Chemical Company, INEOS Group Ltd., SABIC, LyondellBasell Industries N.V., and Huntsman Corporation accounted for about 48% share in the market in 2015.
To further increase their foothold in the global market for ethanolamines companies are focusing on research and development to formulate better products. Besides, companies are also resorting to partnerships, collaborations, and mergers and acquisitions to make further inroads into the ethanolamines market.
The report by TMR finds that the global market for ethanolamines will register tepid growth both in terms of volume and revenue on account of volatility in raw material prices. The report forecasts the market to expand at 4.1% CAGR between 2016 and 2024 to attain a value of US$4 bn by 2024 from US$2.8 bn in 2015.
Demand for Detergents and Glyphosate-based Herbicides Propel Asia Pacific and North America Market
Ethanolamines find application as chemical intermediates, surfactants, herbicides, cement, and also for gas treatment. They are also used as wood preservatives, textile additives, and metal working fluids. Among them, the surfactants form the dominant application segment of ethanolamines. The Surfactants procured from ethanolamines find application in formulating heavy-duty laundry detergents, cosmetics, industrial cleaners, and other foam-based personal care products.
Going forward, the herbicides application segment is predicted clock maximum growth in the market for ethanolamines because of higher production of glyphosates.
Geographically, the key segments of the global market for ethanolamines are Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. Asia Pacific and North America, among them, jointly held a whopping 70% in the market in 2015 on the back of rising demand for ethanolamines in surfactants and herbicides applications.
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The expansion in the Asia Pacific market for ethanolamines has been primarily driven by the heavy demand for detergents and the personal care in the highly populous and fast developing nation of China. The rising production of herbicides in China is also expected to boost the ethanolamines market in the foreseeable future.
The market for ethanolamines in North America, on the other hand, has been powered by the rising production of glyphosate-based herbicides. This is in turn because of the concentration of prominent herbicide manufacturers in the U.S.
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Rising Adoption of No-till Farming Spurs Growth in Market
Majorly boosting the growth in the global market for ethanolamines is the massive demand for glyphosate which is the most used variety of herbicides. Explains the lead analyst of the TMR report, "The increasing cultivation of genetically modified crops and the rising popularity of no-till farming has spurred the demand for glyphosate. Produced in over 20 countries around the world and used in over 130 countries, the demand for glyphosate is set to increase over the forecast period. This in turn will boost the global ethanolamines market."
Another factor driving growth in the ethanolamines market is the rising surfactants market, particularly in the developing nations of Latin America, Asia Pacific, and the Middle East and Africa.
One factor countering the growth in the global ethanolamines market is the volatility in raw material prices.
This review is based on the findings of a TMR report, titled, "Ethanolamines Market (Product - Monoethanolamines (MEA), Diethanolamines (DEA), Triethanolamines (TEA); Application - Surfactants, Chemical Intermediates, Herbicides, Gas Treatment, Cement) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016-2024."
Global Ethanolamines Market, by Product
- Monoethanolamines (MEA)
- Diethanolamines (DEA)
- Triethanolamines (TEA)
Global Ethanolamines Market, by Application
- Surfactants
- Chemical Intermediates
- Herbicides
- Gas Treatment
- Cement
- Others (Textiles, Wood Preservatives, Metal Working Fluid, etc.)
Global Ethanolamines Market, by Region
- North America
- U.S.
- Rest of North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Browse Other Related Market Research Reports:
- Global Surfactants Market: http://www.transparencymarketresearch.com/surfactants-market.html
- Fiber Thermoplastics Market: http://www.transparencymarketresearch.com/fiber-thermoplastics-market.html
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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