U.S. Ethanolamines Market size, by product, 2017 – 2024.

U.S. ethanolamines market size will surpass USD 800 million by 2024, and represents the majority of North America revenue generation.

The robust growth of global ethanolamines industry in recent years can be credited to the strong production base in APAC and Middle East Africa (MEA). Escalating demand for agrochemicals, surfactants, and natural gas along with the convenience of government subsidies is positively influencing the industry trends. In addition, cost-effectiveness of the raw materials is further boosting its widespread adoption in sectors like cosmetics, paints and coatings, additives, and textiles. According to Global Market Insights, Inc., “Ethanolamines market having had a revenue share of USD 2.79 billion in 2015, is projected to grow noticeably at a CAGR of 4.1% over the period 2016-2024.”

Ethanolamines industry from surfactants sector dominated the overall market in 2015 with a revenue contribution of 25% of the total volume, and is expected to be one of the prime application arenas thriving the industry. Gas treatment application is majorly driven by Latin America and Gulf ethanolamines market, owing to the increasing usage of the products as gas sweetening agents. Growing agrochemical industry along with high demand across various cleaning process applications iss fueling the chemical intermediate applications.

Herbicides and surfactants applications, together valued over USD 1.5 billion in 2015, are poised to grow substantially with an annual growth rate of 4% over 2016-2024.

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Monoethanalomines(MEA), diethanalomines (DEA), and triethanalomines(TEA) are the three major types of ethanalomines. Diethanolamines being widely used in herbicides, cosmetics, and textile specialties, is expected to be the most prominent product segment in the market. It is estimated that diethanolamines market, having registered a revenue of USD 1 billion in 2015, will exhibit an annual growth rate of more than 4% over 2016-2024. On the other hand, TEA, mainly used as intermediates in bathroom products, photographic film developing, cement additives, and surface active agents will also contribute significantly toward the total revenue over the coming seven years.

Geographically, APAC and MEA are projected to be the most favorable regions driving global ethanolamines market. Asia Pacific ethanolamines industry, mainly driven by India and China, exceeded a revenue of USD 1 billion in 2015, and is forecast to witness a sharp growth in coming years owing to the high prevalence of agricultural-based activities in these regions.

U.S. ethanolamines market is expected to account for a huge chunk of North America industry share, with a projected revenue of USD 800 million by 2024.

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The Dow Chemical Company, INEOS Group Ltd., SABIC, China Petroleum & Chemical Corporation, and Huntsman Corporation are some of the key industry participants. Market strategies for product diversification and to explore untapped applications will further widen the consumer base.

 

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