Ethanolamines Market Analysis, Growth, COVID-19 Overview, Demand and Industry Forecast 2023
Ethanolamines Market Overview:
The organic compounds which are composed of amino acids and formed
by the reaction between ethylene oxide and ammonia are called ethanolamines.
These compounds are utilized in various end-uses to impart aesthetic
appearance, glossy finish, and others to the final product. Moreover, they also
provide versatility and reliability to the product.
The global COVID-19 analysis on ethanolamines
market has been driven by the range of its
application in various sectors such as detergents, chemical intermediates,
herbicides, and others. Moreover, it is estimated that the detergents segment
is set to witness the highest growth in the market due to its growing demand in
various end-user applications over the forecast period.
Ethanolamines Market Segmentation:
The global ethanolamines
market analysis is segregated into the product
and application. On the basis of the product, the market is further categorized
into monoethanolamine, diethanolamines, and triethanolamines segments. The
triethanolamines segment is most widely used due to its growing consumption in
heavy end-use industries such as cosmetics, pharmaceuticals, chemicals,
healthcare, and others. Moreover, durability and reliable nature are the major
factors behind the popularity of this segment. The increasing use of these
materials in metal cleaning, gas treatment, and other systems is estimated to
drive the market during the assessment period.
On the basis of the application, the market is segmented into
detergents, chemical intermediates, herbicides, metal cleaning, metal cleaning,
gas treatment, cement, personal care, textiles, and others. The detergents
sector is the leading segment of the market and is anticipated to observe a
rapid growth due to its boundless use in various applications. The emulsifying
agents are used in these applications to improve the structural properties of
the product. Moreover, corrosion resistance, superior performance, and reliable
nature are some of the properties offered by these materials in the industry.
The chemical intermediates sub-segment is predicted to witness a higher growth
in the industry due to its growing consumption in the production of dyes,
lubricants, lacquers, and others for textiles and cement industries.
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Competitive Analysis:
Some of the major players functioning in the global ethanolamines
market are BASF SE (Germany), The Dow Chemical Corporation (U.S.), Akzo Nobel
N.V. (the Netherlands), Huntsman Corporation LLC (U.S.), LyondellBasell
Industries Holdings B.V. (U.S.), Sintez OKA Group of Companies (Russia), INEOS
(U.K.), SABIC (Saudi Arabia), Jiaxing Jinyan Chemical Co. Ltd. (China) and
China Petroleum & Chemical Corporation (China) among others.
Ethanolamines Segmental Analysis:
The global ethanolamines industry is spanned across five key regions: Asia Pacific, North
America, Europe, Latin America, and the Middle East & Africa. Among these,
Asia Pacific holds a major portion of the global market and is anticipated to
continue its dominance due to the rising demand for ethanolamine products in
various applications. Countries such as China, Japan, and India are the major
players in this region. The North America region is estimated to witness a
higher growth in the U.S., Canada, and Mexico owing to the increasing demand
for diethanolamines in cosmetics, personal care, and other sectors. The
extensive use of triethanolamines in fragrances, hair care products, and hair
dyes has driven the manufacturers to use these materials in the end-use industries
due to growing consumer preference and changing lifestyles. Moreover, it is
projected that the implementation of stringent rules and regulations in the
major sectors has propelled European region to witness a stagnant growth in
Germany, the U.K, and Italy.
The Middle East & Africa is estimated to observe a slow growth
due to changing prices of raw materials and economic slowdown in the region.
Additionally, the growing demand for emulsifying agents in major industries is
projected to boost the market in the Latin American region.
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NOTE: Our team of
researchers are studying Covid19 and its impact on various industry verticals
and wherever required we will be considering covid19 footprints for a better
analysis of market and industries. Cordially get in touch for more details.
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