Asia Pacific Ethanolamines Market share will grow to over 40% by 2014 and will be driven by demand from China, India, ASEAN and many agricultural sectors in the region.
Global Ethanolamines Market size contributed $2.80 billion for 2015 and is projected to expand at a CAGR of 4.2% during forecast timeline. Growing demand from surfactants and agrochemical, strong infrastructural expansion in APAC and significant potential demand from natural gas processing are predicted to enhance the industry trends.
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Key threats faced by global ethanolamines market include strict rules and health concerns due to chemical ill-effect on human beings. Medical studies were carried out to check the chemical effects of the product on human liver and its connections to liver tumors were detected in past. This inhibits the use of the product in many applications and proper replacements have found their way to the industry.
Ethanolamines Industry Insights
1 Industry Segmentation
2 Industry Size and forecast, 2013 – 2024
3 Industry ecosystem analysis
3.1 Distribution channels
3.2 Vendor matrix
3.4 Industry Impact forces
3.5.1 Growth drivers
22.214.171.124 Increasing demand for agrochemicals such as Glyphosate
126.96.36.199 Growth in surfactant market
3.5.2 Industry pitfalls and challenges
188.8.131.52 Volatile raw material prices
3.5 Growth potential analysis
3.6 Porter’s analysis
3.7 Company market share analysis, 2015
3.7.1 Strategic landscape
3.8 PESTEL analysis
Global ethanolamines market is segmented into various applications like gas treatment, chemical intermediates, cement, surfactants and herbicides.
Surfactants segment contributed more than 25.1% of total revenue for 2015. Chemical intermediates and herbicides contributed for more than 40.1% of ethanolamines market share with nominal gains projected by end of forecast timeline. Rising agrochemicals sector owing to increasing demand from farming activities and growing demand from different cleaning methods in most of end use sectors are few of the aspects for these segments to display fast growth during forecast timeline.
Key insights from the report include:
- Global ethanolamines market size is poised to exceed USD 3.9 billion by 2024, at a CAGR of over 4%.
- Agrochemicals, surfactants, natural gas, cement processing and chemical intermediates are the major driving application segments. Herbicides and surfactants generated approximately USD 1.5 billion in global revenue and are likely to be the major application segments for the ethanolamine market size in the coming years.
- Diethanolamines and triethanolamines are likely to show relatively rapid growth in the ethanolamines product market and accounted for over 70% of the total ethanolamines demand by product in 2015.
- U.S. ethanolamines market size will surpass USD 800 million by 2024, and represents the majority of North America revenue generation.
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Global ethanolamines market is segmented into various geographical locations like North America, APAC, MEA, Europe and Latin America.
APAC, specifically, India and China ethanolamines industry, contributed more than $1.1 billion for 2015 in revenue terms and the region is projected to experience heavy expansion depending on domestic use.
MEA and APAC are predicted to be the most favored areas for the industry during forecast timeline.
Latin America and North America are predicted to demonstrate positive growth in future. U.S. ethanolamines market share that was higher than 400 kilo tons for 2015 today contributes more than 84.1% of overall North American industry share in terms of revenue.
The Dow Chemical Company, SABIC, INEOS Group Ltd., LyondellBasell Industries Holdings B.V., Huntsman Corporation, China Petroleum & Chemical Corporation and BASF-YPC Company Limited are some of the major companies operating in the industry. Growth strategies center around product diversification and penetration into new or untapped applications in order to reach a wider customer base and to ensure considerable portfolio.
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