Published: Apr, 2018
The global ethanolamines market is highly fragmented and is characterized by tough competition among the market players due to low scope of profit. The top five organizations in the global ethanolamines market are INEOS Group Ltd., The Dow Chemical Company, SABIC, Huntsman Corporation, and LyondellBasell Industries N.V. These firms together represented a share of nearly 48% in 2015. Once the battle against high initial investment is won, firms in the ethanolamines market can profit by low risks of substitutes, various suppliers of ethylene oxide and ammonia, and a unaware consumer base.
The increasing number of organizations have been revolving around research and development and technological advancement as a major strategy in the ethanolamines market. Organizations have been indulging into partnership, joint ventures, collaborations, and mergers and acquisition to sustain their position in the market. Considering the rising spotlight on decreasing the environmental footprints, vendors are probably anticipated to divert resources to fulfill the sustainability criteria of the products. Hoping to profit by this driving pattern, Akzo Nobel put US$10 mn in another research and development center in Strongsville, Ohio in December 2015.
According to Transparency Market Research, the global ethanolamines market is anticipated to grow at a steady CAGR of 4.1% within the forecast period from 2016 to 2024. The market was valued at US$2.8 bn in 2015. This figure is likely to reach around US$4.0 bn by the end of 2024. Based on application, the global ethanolamine market is segmented into surfactants, gas treatment, cement, herbicides, and other uses for example, textiles, wood preservatives, and metal working fluids. Among these, surfactant segment emerged as a key application in 2015. Geographically, Asia accounted for 70% of total market share in 2015, thereby emerging as a key region.
Rising Production of Glyphosate to Boost Market Growth
Ethanolamines are one of the prominent raw materials utilized in the production of herbicides. The rise in demand for glyphosate, which is the highest consumed variety of herbicides has significantly propelled the global ethanolamines market. The rise in cultivation of genetically mutated products and the rising prevalence of no-till farming has surged the demand for glyphosate. Produced in more than 20 nations around the globe and utilized in than 130 nations, the demand for glyphosate is set to flourish in upcoming years. This as a result will help the global ethanolamines market. The ethanolamines market has additionally gotten boosted by the surfactants market, particularly in the developing regions of Latin America, Asia Pacific, and the Middle East and Africa.
Fluctuating Cost of Raw Material to Elevate Demand for Ethanolamines
On the other hand, volatility in raw material costs is hampering the development of the ethanolamines market. However, the growing demand for gas sweetening agents presents lucrative scope of profit for players in the ethanolamines market.
This review of the global dental laboratories market is based on a recent market research report by “Ethanolamines Market (Product - Monoethanolamines (MEA), Diethanolamines (DEA), Triethanolamines (TEA); Application - Surfactants, Chemical Intermediates, Herbicides, Gas Treatment, Cement) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”
- The rise in demand for production of glyphosate, which is the highest consumed variety of herbicides has significantly propelled the global ethanolamines market.
- Produced in more than 20 nations around the globe and utilized in than 130 nations, the demand for glyphosate is set to flourish in upcoming years. This as a result will help the global ethanolamines market.
Ethanolamines Market - Product Segment Analysis
- Monoethanolamines (MEA)
- Diethanolamines (DEA)
- Triethanolamines (TEA)
Ethanolamines Market - Application Analysis
- Chemical Intermediates
- Gas Treatment
- Others (Textile, Wood Preservatives, Metalworking Fluids etc.)
Ethanolamines Market - Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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