Diethylamine Market - Forecast(2023 - 2028)

Diethylamine Market Overview

Diethylamine Market size is forecasted to grow at a CAGR of 3.9% during the forecast period 2022-2027. Diethylamine (DEA) is a secondary amine in the dialkylamine class that is derived from bio-ethanol, a renewable resource. The beneficial properties of diethylamine such as superior solubility in water and ethanol, higher environmental sustainability, and more makes its use ideal in various end-use industries such as textile, water and wastewater, and other such industries. The Diethylamine Market is primarily driven by the growth of the medical and healthcare sector. In addition to this, the surging application of diethylamine in the manufacturing of chemicals such as hydrogen cyanide, carbon disulfide, dipotassium phosphate, and more are expected to benefit the global diethylamine industry growth during the projected forecast period. 

Diethylamine Market COVID-19 Impact 

The Covid-19 pandemic resulted in revenue losses for the Diethylamine Market as the major economies of the world were under lockdown. This resulted in supply chain disruption, which impacted the imports and exports of diethylamine. For instance, according to the International Trade Centre, in 2019, the global imports of diethylamine were US$4.75 million, and in 2020 it was US$4.01 million, a decline of 18.45%. Additionally, in 2019, the worldwide exports of diethylamine were US$3.3 million, and in 2020 it was US$2.02 million, a decline of 63.4%. Thus, such a decline in exports and imports of diethylamine resulted in revenue losses for the Diethylamine Market. However, the various government measures to revive the industries including industrial stimulus packages, ease in lockdown regulations, and more resulted in Diethylamine Market growth. Moreover, it is expected that during the upcoming years the impact of Covid-19 will be phased out. Hence, this will result in the Diethylamine Market growth scenario before the pre-Covid time.

Report Coverage 

The report: "Diethylamine Market–Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Diethylamine Market. 

The medical and healthcare segment held a significant share in the Diethylamine Market in 2021 and is forecasted to grow at a CAGR of 4.8% during the forecast period 2022-2027. In the medical and healthcare sector diethylamine is used in medical and healthcare for the production of ointments, painkillers, tables, and more. Diethylamine has properties such as pain relief agents, anti-inflammatory, and more, which makes its use ideal in medical and healthcare. Due to the increasing patient hospitalization rate at the global level, the demand for medicines in healthcare organizations is increasing. For instance, according to a recent report published on JAMA Network, global demand for medications, including painkillers from public hospitals surged in 2020. Hence, such surging demand for medicines from the healthcare sector is expected to increase the demand for diethylamine, which is propelling the market growth.

Diethylamine Market Segment Analysis – By Geography 

Asia-Pacific region is the dominating region as it holds the largest share in the Diethylamine Market in 2021 up to 42%and is forecasted to grow at a CAGR of 5.1% during the forecast period 2022-2027. The economic growth of the Asia-Pacific countries is driven by the sectors such as medical and healthcare, paints and coatings, and more. The reasons, including an aging population, a growing middle class, an increasing proportion of lifestyle diseases, and an increased emphasis on public-private partnerships, are driving the rise of the medical and healthcare sector growth in the Asia-Pacific region. For instance, according to the India Brand Equity Foundation (IBEF), the healthcare market in India is predicted to reach US$372 billion by 2022, driven by rising income, improved health awareness, lifestyle diseases, and more. Moreover, according to the International Trade Administration, the pharmaceuticals market in Vietnam is expected to grow by a 10% annual rate from 2017 to 2028, with revenues per capita virtually tripling in ten years from 2017 to 2027. Therefore, the surging medical and healthcare sector in the Asia-Pacific region is expected to fuel the demand for diethylamine, which in turn is accelerating the market growth during the forecast period.