The Global Ethanolamines Market was valued at US$ 2.99 Billion in 2016, according to a new report published by Coherent Market Insights. Ethanolamines are colorless, viscous organic compound with molecular formula HOCH2CH2NH2. These are used as a feedstock in the manufacture of Monoethanolamines (MEA), Diethanolamines (DEA) and Triethanolamines (TEA), which finds wide application in the production of emulsifiers, detergents, polishes, chemical intermediates, corrosion inhibitors and pharmaceuticals. Diethanolamines are largely used as a feedstock in the production of agrochemicals, which is used to manufacture herbicides. Glyphosate are commonly used herbicides to kill insects, such as weeds in the agricultural fields. North America followed by Asia Pacific are leading in terms of consumption and production of herbicides in the past and expected to retain the trend in the following years for diethanolamine market. Diethanolamines are the primary feedstock used in the manufacture of glyphosate. Increasing demand for glyphosate from agricultural industry, is in turn expected to propel the market for diethanolamines market during the forecast period. Moreover, diethanolamines finds wide application in process chemical industry, which is used as a gas scrubbing agents. Also, petrochemical industry and petroleum refinery uses diethanolamines to remove carbon dioxide and hydrogen sulfide from the gas stream and the process is known as gas sweeting process.
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Burgeoning demand for cosmetic and personal care products on the back of increasing inclination of the populace towards personal aesthetic appeal, which in turn is augmenting demand for ethanolamine, as it finds large application in the manufacture of various fatty acids amides, which are used in various cosmetic products. Also, ethanolamines is used as intermediates in the manufacturing of corrosion inhibitors, water soluble lubricants, emulsifiers and biocides.
According to the stats provided by Coherent Market Insights, in 2016, the global surfactants market in the application segments is dominating in 2016 and the trend is expected to continue in the following years. Surfactants are widely used chemicals in various industry as well as in household purposes. For instance—
- Cleaning of storage tanks and crude oil transportation lines in downstream petroleum industry
- Enhanced Oil Recovery system in upstream oil & gas industry
- Biocides in agricultural industry
- Immunological adjuvant and gene delivery in healthcare industry.
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Key takeaways of the market:
- Asia Pacific dominated the market in 2016 and the trend is expected to remain the same during 2017-2025. The increasing demand for ethanolamine derivatives in various end-use industries such as agriculture, refinery, and construction chemicals due to low production cost of ethanolamines in China and India over following years is the major driving force to position Asia-Pacific as the largest and fastest-growing region in the global ethanolamines market.
- The market in Latin America is expected to register a significant growth rate over the forecast period. Rise in agricultural activities along with increasing textile industry are expected to create lucrative growth opportunities for the players in this region.
- Major challenges faced by the global ethanolamines market include stringent regulations coupled with adverse health impact of these chemicals on environment as well as human being. For instance, in November 30, 2009, The European Parliament and The Council of the European Union had banned DEA use in cosmetics to reduce contamination from carcinogenic nitrosamines. Also, various medical test proves the effects of this chemical on liver and links have been found to liver tumors in the past decades. According to United States Department of Health and Human Services-- NIH Publication No. 92-3343, in October 1992, proves the ill effects of diethanolamines on liver and also links have been found to liver tumor in past decades.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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