Ethanolamine Market to 2031 | Size, Share, Growth, Analysis

Ethanolamine Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis By Type (Monoethanolamine, Diethanolamine, and Triethanolamine) and End-User (Agriculture, Construction, Personal Care, Oil & Gas, Metallurgy & Metalworking, Textile, and Others)

Publication Month : Apr 2024

  • Report Code : TIPRE00003427
  • Category : Chemicals and Materials
  • Status : Upcoming
  • No. of Pages : 150
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Analyst Perspective 

The global ethanolamine market is expected to register a CAGR of 3.7%. The global ethanolamine market is thriving due to a rise in environmentally friendly and sustainable products. Ethanolamine, recognized for its low toxicity and ability to cut greenhouse gas emissions in specific applications, is becoming popular across industries like personal care, agriculture, and chemicals. Ethanolamine produces herbicides and pesticides, contributing to the market's growth alongside the expanding agrochemical sector. Ethanolamine finds application in pharmaceuticals as a buffering agent and chemical synthesis, further bolstering the market. Product diversification technological advancements are significant growth-driven opportunities for the ethanolamine market. Volatile raw material prices, environmental concerns, and competition are significant challenges that may hamper ethanolamine's market growth.

Market Overview

Ethanolamine is a chemical compound used in various industrial applications, including producing detergents, personal care products, and agrochemicals. It is employed in gas treatment and as a feedstock for producing surfactants and pharmaceuticals. Ethanolamine is a versatile chemical that plays a significant role in construction and agriculture. Ethanolamine acts as a performance enhancer and grinding aid, significantly reducing energy consumption while making cement finer and smoother. Ethanolamine-infused coatings for steel and concrete offer enhanced corrosion resistance, extending the lifespan of infrastructure and machinery. It is also used in producing metalworking fluids and as an antifreeze additive in lubricants for metalworking. The growing demand for ethanolamine presents lucrative opportunities for established players to expand capacities and for innovative companies to develop next-generation applications. Sustainability is a crucial differentiator for the manufacturers.

Market Drivers

  • Ethanolamine finds applications in diverse industries, including personal care, agrochemicals, construction, and wood preservation. The booming construction and personal care sectors in developing countries are significant drivers.
  • Ethanolamine's amphiphilic nature, which has both hydrophilic and hydrophobic properties, makes it an ideal ingredient for surfactants. Surfactants are used in various cleaning products, cosmetics, and agrochemicals, contributing to the rising demand for ethanolamine.
  • Ethanolamine is crucial in capturing acid gases like carbon dioxide and hydrogen sulfide from natural gas and industrial emissions. This is becoming increasingly important due to stringent environmental regulations and the growing focus on carbon capture and storage technologies.
  • The factors mentioned above are likely to drive the growth of the ethanolamine market.

Market Segmentation

The global ethanolamine market is segmented based on type and end-user. Based on type, the market is segmented into monoethanolamine, diethanolamine, and triethanolamine. Based on end-user, the market is segmented into agriculture, construction, personal care, oil & gas, metallurgy & metalworking, textile, and others.

Regional Analysis

The report provides a detailed industry overview, which includes qualitative and quantitative information. It gives information on an overview and forecast of the global Ethanolamine market based on several segments. It also provides market size and forecast estimates from 2020 to 2030 concerning five major regions: Europe, North America, Asia-Pacific (APAC), Middle East & Africa (MEA) and South & Central America. The Ethanolamine market by region is also sub-segmented by respective countries and segments. The Ethanolamine market report covers an analysis and forecast of 18 countries globally and the prevailing trends and opportunities in the region.

The report analyses factors affecting the Ethanolamine market from both the demand and supply side. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive Porter's Five Forces analysis highlighting factors affecting the Ethanolamine market in these regions.

Key Players

The reports cover vital organic and inorganic growth strategy developments in the ethanolamine market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, and others. Inorganic growth strategies activities observed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the development of the business and customer base of market players. The market players in the ethanolamine market are expected to have lucrative growth opportunities with the increasing demand for versatile products globally.

The report includes key companies' profiles, SWOT analysis, and Ethanolamine market strategies. The report also focuses on leading market players with information including company profiles, components, and services offered, financial information for the last three years, and critical development in the past five years.

Below is a list of companies engaged in the Ethanolamine market.

  • Akzo Nobel
  • Alkyl Amines Chemicals Ltd
  • BASF SE
  • Celanese Corporation
  • Dow Chemical
  • Humstan Corporation
  • Ineos
  • Jiaxing Jinyan Chemical Co Ltd
  • Sabic
  • Sintez Oka Group of Companies
REGIONAL FRAMEWORK
World Geography

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies

1. Akzo Nobel N.V.
2. BASF SE
3. China Petroleum & Chemical Corporation or Sinopec
4. Daicel Corporation
5. Eastman Chemical Company
6. Huntsman International LLC
7. INEOS
8. Koch Industries
9. Mitsubishi Gas Chemical Company, Inc.
10. The Dow Chemical Company

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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