Email
Print
Ethanol Amines Market Overview
Ethanol Amines
market size is forecast to reach US$4.5 billion by
2027, after growing at a CAGR of 4.1% during
2022-2027. Ethanol Amines are organic compounds produced by the reaction between
ethylene oxide and ammonia and they are composed of amino acids. Ethanolamine
is referred to as a class of antihistamines including dimenhydrinate, carbinoxamine,
doxylamine clemastine, and dimenhydrinate. Ethanolamine is the
second-most-abundant head group for phospholipids, substances found in
biological membranes and they are used in aqueous solutions for scrubbing
acidic gases. Ethanolamine is one of the representative organic corrosion inhibitors and when
ethanolamine reacts with ammonia gives ethylenediamine, which is used as chelating agent. The growing adoption
of ethanolamines among different industries such as agrochemicals, metallurgy, personal
care, textile, construction, and pharmaceuticals is driving the market growth
during the forecast period. They are used extensively in the manufacture of
detergents, gas sweetening, building, and construction additives, cutting oils,
and crop protection among others. The improving standard of living along with the
growing usage of cleaning products and personal care products are supporting
the market growth for ethanolamines during the forecast period. According to
Cosmetics Europe, the European cosmetics and personal care industry was valued
at about USD 95.32 billion in 2019, with a growth rate of about 1.5% compared
to the previous year.
COVID-19 Impact
The COVID-19
pandemic impacted different industries; one of the few industries that were primarily
hit to some extent was the ethanolamines industry. The demand for Ethanol
Amines is low during the covid-19 crises. The delay in manufacturing activities
and shut down different end-use industries such as personal care, textile, and
chemical, in both developed and developing nations impacted the market growth
for Ethanol Amines during covid-19. However, the Ethanol Amines industry faced
problems related to the supply chain, lack of workforce, and lack of raw
materials supply among others.
Ethanol Amines Report Coverage
The report: “Ethanol Amines Market – Forecast
(2022-2027)” by IndustryARC, covers an in-depth analysis of the following
segments of the Ethanol Amines industry.
By Product Type: Monoethanolamine
(MEA), Diethanolamine (DEA), and Triethanolamine (TEA)
By Grade: Pharmaceutical grade,
Food grade, and Industrial or technical grade
By Application: Agriculture
(Herbicides, Fertilizers, and Insecticides), Personal Care (Body care, Skin
Care, Haircare, and others), Industrial Lubricants, Metallurgy and
Metalworking, Household and Industrial Cleaners (Detergents, Emulsifiers,
Furniture Polishes, and Others), Textile, Oil and Gas, Construction,
Pharmaceutical, Packaging, food & beverages, and Others.
By Geography: North
America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and
Rest of Europe), Asia-Pacific (China, Japan, South Korea, India,
Australia, and New Zeeland, Indonesia, Taiwan, Malaysia, and Rest of APAC),
South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and
Rest of the World (the Middle East and Africa)
Key Takeaways
- The Asia Pacific is expected to register the highest CAGR of 5.6% during the forecast period (2021-2026). Rapid urbanization, emerging economies, and the growing manufacturing sector are the major factors driving the market growth.
- The triethanolamine segment is expected to hold a major market share during the forecast period 2022-2027.
- The increasing market for personal care and the growing importance of ethanolamines among end -users are the key factors driving the Ethanol Amines market.
Figure: Asia Pacific Ethanol Amines Market Revenue, 2021-2027 (US$ Billion)
Ethanol Amines Market Segment Analysis - By Type
The triethanolamine
segments accounted for approximately 32% of the
market share in 2020 and is estimated to grow at a significant CAGR during the
forecast period. The growing consumption of triethanolamine type in numerous applications
such as fragrances, hair care products, hair dyes, wave sets, shaving products,
and sunscreens, among others are driving the market growth for ethanolamines
during the forecast period. The triethanol amines are used as corrosion
inhibitor and surfactants in various applications. According to Cosmetics
Europe, the European cosmetics products market is valued at USD67.2 billion at a
retail sales price in 2020. Hence the growth in usage of personal care products
is one of the major factors driving the market for the triethanolamine segment.
Ethanol Amines Market Segment Analysis - By Application
The household
and industrial cleaners segment accounted for more than 18% of the market share in 2020 and is estimated to grow
significantly during the forecast period. Ethanolamines are used as a feedstock
in the production of detergents, emulsifiers, polishes, corrosion inhibitors, and
others. The growing population, rapid urbanization, and rising consumer
awareness regarding hygiene are some of the major factors driving the market
for the household and industrial cleaners segment. In January 2019, the global
FMCG manufacturer Unilever acquired the Laundress Company, involved in manufacturing
detergent, fabric care, and home cleaning products, to strengthen its global
presence and enhance its portfolio. Thus the growing collaborations and
expansion among major end-users are supporting the market growth for
ethanolamines. The construction industry is also estimated to hold a
significant share during the forecast period. Growing foreign investments in
the construction industry are also supporting market growth. According to the
data published by FDI India, Indian real estate attracted approximately US$5
billion in institutional investments in 2020, and they also mentioned that
Institutional real estate investments in India increased by 21% in the first
quarter (2021) to US$922 million.
Ethanol Amines Market Segment Analysis - By Geography
Asia Pacific region held a significant share in the Ethanol Amines market in 2020, up to 36%, owing to the rapid growth in agriculture, personal care, industrial cleaners, and construction in the region. The presence of developing nations such as India and China is driving the market growth in the region. Abundant raw material sources and the availability of a workforce also support the regional demand. The presence of leading personal care manufacturing companies such as LOreal SA., The Procter & Gamble., Beiersdorf AG., Avon Products Inc., Unilever PLC., and others are supporting the regional growth during the forecast period. The growing FDI in the Asia Pacific region is driving market growth. According to the 2021 World Investment Report published by UNCTAD, FDI inflows into China increased by 6% in 2020, to USD 149 billion, up from USD 141 billion in 2019.
Ethanol Amines Market Drivers
Growing demand from cleaning products industry
Ethanolamines are used as common ingredients in cleaning products such as floor and tile cleaners, as well as laundry detergents. Ethanolamines help to remove dirt, grease, and stains. Diethanolamines are used in industrial cleaning products, such as engine degreasers and industrial strength detergents, due to their ability to break down oil and grease. The growing population along with the growing demand for cleaning products such as detergents, tile cleaners, disinfectants, dishwashers, and others is driving the market for ethanolamines. According to the statics published by the Euro monitor International, the global laundry detergent market was valued at US$120 billion in 2019. The rapid growth in the manufacturing and chemical processing sectors in the Asia Pacific region is driving the demand for industrial cleaners which is further driving the demand for ethanolamines. According to the Department for Promotion of Industry and Internal Trade (DPIIT), cumulative FDI inflows in the manufacturing subsectors amounted to US$ 100.35 billion between April 2000 and June 2021.
Ethanol Amines Market Challenges
Health Hazard related to Ethanol Amines
Ethanolamines cause many health-related diseases such as skin
irritation, eyes irritation when body parts have direct contact with
ethanolamines. They also irritate the nose, throat and cause coughing,
wheezing, and shortness of breath. However,
stringent regulations regarding the use of DEA in personal care products and
cosmetics will hamper the market growth during the forecast period. The
European Commission prohibits diethanolamine (DEA) in cosmetics, to reduce
contamination from carcinogenic nitrosamines. The International Agency for
Research on Cancer classifies that DEA compounds react with nitrites in cosmetics
to form nitrosamines. The Danish Environmental Protection Agency also stated
that cocamide DEA is hazardous to the environment because of its acute toxicity
to aquatic organisms. These are some of the major challenges hampering the
market growth during the forecast period.
Ethanol Amines Industry Outlook
Technology launches,
acquisitions, and R&D activities are key strategies adopted by players in
the Ethanol Amines market. Major players in the Ethanol Amines market include
- INEOS Oxide Ltd.
- Huntsman Corporation
- China Petroleum & Chemical Corporation
- Thai Ethanolamines Co., Ltd
- Sinopec Shanghai GaoQiao Petrochemical Corporation
- Akzo Nobel
- Shijiazhuang Haisen Chemical Co., Ltd
- Alkyl Amines Chemicals Ltd.
- Air Products and Chemicals Inc.
- Daicel Chemical Industries Ltd
- Celanese Corporation
- Other Companies
Recent Developments
In
August 2021, BASF and SINOPEC announced they will further expand their Verbund
site operated by BASF-YPC Co., Ltd. a
50-50 joint venture of both companies in Nanjing, China. It includes the
capacity expansion of several downstream chemical plants including propionic
acid, propionic aldehyde, ethyleneamines, ethanolamines,
and purified ethylene oxide. They also mentioned the expanded and new plants
are planned to come on stream in 2023.
Relevant Reports
Ethanol
Market - Forecast(2022 - 2027)
Report Code: CMR 22472
Alkyl
Amines Market - Forecast(2022 - 2027)
Report Code: CMR 0276
For more Chemical and Materials related reports, please click here