Ethanolamines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The market is segmented by Product Type (Monoethanolamine, Diethanolamine, and Triethanolamine), End-user Industry (Agriculture, Construction, Personal Care, Oil and Gas, Metallurgy and Metalworking, Textile, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers the market size and forecasts in revenue USD million for all the above segments.

Ethanolamines Industry Overview

Ethanolamines Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: > 4 %

Major Players

Ethanolamines Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Ethanolamines Market Analysis

The ethanolamines market is expected to record a CAGR of more than 4% during the forecast period (2022-2027).

Ethanolamines are obtained commercially through the reaction of ethylene oxide with ammonia. During further rectification, monoethanolamine (MEA), diethanolamine (DEA), and triethanolamine (TEA) are separated. Owing to the COVID-19 outbreak, governments around the world took various measures, such as lockdowns, to curb its spread, and this has led to a halt of operations in many sectors, affecting the market. However, the ethanolamines market is expected to register a positive growth rate during the forecasting period (2022-2027).

  • The major factor driving the market studied is the rising demand for applications, including glyphosate herbicides and corrosion inhibitors, for metal protection.
  • The increasing weed resistance to weaken the demand for glyphosate is likely to hinder the market's growth.

Ethanolamines Industry Segments

Ethanolamines are organic compounds produced by the reaction between ethylene oxide and ammonia. They are composed of amino acids. The Ethanolamines market is segmented by Product Type (Monoethanolamine, Diethanolamine, and Triethanolamine), End-user Industry (Agriculture, Construction, Personal Care, Oil and Gas, Metallurgy and Metalworking, Textile, and Other End-user Industries (Chemicals and Detergents)), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report also covers the market size and forecasts for the market in 15 countries across major regions. The report offers the market size and forecasts in revenue USD million for all the above segments.

Product Type
Monoethanolamine (MEA)
Diethanolamine (DEA)
Triethanolamine (TEA)
End-user Industry
Agriculture
Construction
Personal Care
Oil and Gas
Metallurgy and Metalworking
Textile
Other End-user Industries (Chemicals and Detergents)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Ethanolamines Market Trends

This section covers the major market trends shaping the Ethanolamines Market according to our research experts:

Metallurgy and Metalworking to Dominate the Market

  • Metalworking is the process of cutting, forming, and joining a metal for end-use applications. It is used for various applications, such as shipbuilding, construction, jewelry, automotive, and aerospace. Some of the commonly used metalworking machines include lathe, arc welder, mill, and computer numerical control (CNC) machines.
  • Metalworking is classified into three prime methods, namely, hot-working, cold-working, and extruding. The aforementioned processes generate huge amounts of heat and utilize water, which may corrode surfaces. Thus, lubricants and metalworking fluids are used during the metalworking procedure in order to ease the process and ensure the smooth and efficient functioning of machines.
  • Ethanolamines are used in the production of metalworking fluids and are also used as an antifreeze additive in lubricants for metalworking.
  • In the Asia-Pacific region, China has been the leading consumer, followed by the United States in the North American region. The metalworking fluids market is complex, with a variety of applications, changing trends, and market developments. Health and safety regulations, new machining techniques, and new material technology have been reshaping the metalworking fluid formulations.
  • Steel production has been increasing over the recent past. Global steel production increased Y-o-Y by 3.4% during 2019. However, in 2020, global crude steel production reached 1,864.0 million tons (Mt). The production of steel leads to a higher demand for metalworking to mold the steel in its desired form.
  • This scenario is expected to remain constant throughout the forecast period, thus, fueling the demand for ethanolamines in metallurgy and metalworking applications.
Ethanolamines Market, Revenue (%), by End-user Industry, Global, 2021

Asia-Pacific to Dominate the Market

  • Asia-Pacific dominated the market across the world, with the largest consumption from countries such as China and India. Ethanolamines are primarily required in various industries for several ranges of applications, including cement grinding, gas treatment, pharmaceuticals, agricultural, and personal care products, among others.
  • The Asia-Pacific construction sector is the largest in the world, and it has been growing at a healthy rate, owing to the rising population, increase in the middle-class population’s incomes, and urbanization. The increasing infrastructure construction activities are among major drivers for the Asia-Pacific construction sector, owing to the development activities in the major developing countries, such as China, India, and other ASEAN countries.
  • In China, amid the recent COVID-19 outbreak, there has been an exponential increase in the production of masks and PPE kits, both domestically and internationally, which has significantly enhanced the usage of textile chemicals. As of May 2020, China was producing around 116 million medical masks and millions of PPE kits daily.​
  • Moreover, personal care is one of the fastest-growing sectors in countries like China and India. Continuous growth in population is another factor fueling the demand for personal care, soaps, and detergents in these countries, which, in turn, has been augmenting the ethanolamines market.
  • Thus, from the aforementioned factors, the increasing demand from the various end-user industries is boosting the growth of the market studied during the forecast period (2022-2027).
Ethanolamines Market - CAGR by Region, 2022-2027

Ethanolamines Market Competitor Analysis

The ethanolamines market is moderately fragmented in nature. Some of the major players (not in any particular order) in the market include BASF SE, Dow, Nouryon, SABIC, and Indorama Ventures Limited.

Ethanolamines Market Top Players

  1. BASF SE

  2. Dow

  3. Nouryon

  4. SABIC

  5. Indorama Ventures Limited

*Disclaimer: Major Players sorted in no particular order

Ethanolamines Market Concentration

Ethanolamines Market Recent Developments

  • In August 2021, BASF and SINOPEC announced a 50-50 joint venture of both companies in Nanjing, China. The joint venture will help to expand the production capacities of propionic acid, propionic aldehyde, ethyleneamines, ethanolamines, and purified ethylene oxide.

Ethanolamines Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rising Demand from Applications, including Glyphosate Herbicides and Corrosion Inhibitors for Metal Protection

      2. 4.1.2 Growing Construction Activities in the Asia-Pacific Region

    2. 4.2 Restraints

      1. 4.2.1 Increasing Weed Resistance to Weaken the Demand for Glyphosate

    3. 4.3 Industry Value-chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Monoethanolamine (MEA)

      2. 5.1.2 Diethanolamine (DEA)

      3. 5.1.3 Triethanolamine (TEA)

    2. 5.2 End-user Industry

      1. 5.2.1 Agriculture

      2. 5.2.2 Construction

      3. 5.2.3 Personal Care

      4. 5.2.4 Oil and Gas

      5. 5.2.5 Metallurgy and Metalworking

      6. 5.2.6 Textile

      7. 5.2.7 Other End-user Industries (Chemicals and Detergents)

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 Dow

      3. 6.4.3 Indorama Ventures Limited

      4. 6.4.4 INEOS

      5. 6.4.5 Jiaxing Jinyan Chemical Co. Ltd

      6. 6.4.6 LyondellBasell Industries NV

      7. 6.4.7 Nouryon

      8. 6.4.8 OUCC

      9. 6.4.9 Penta Manufacturer

      10. 6.4.10 SABIC

      11. 6.4.11 Sintez OKA Group of Companies

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Ethanolamines Market Research FAQs

The Ethanolamines Market is studied from 2018 - 2028.

The Ethanolamines Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

Asia Pacific holds highest share in 2021.

BASF SE, Dow, Nouryon, SABIC, Indorama Ventures Limited are the major companies operating in Ethanolamines Market.

Ethanolamines Industry Reports

In-depth industry statistics and market share insights of the Ethanolamines sector for 2020, 2021, and 2022. The Ethanolamines research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Ethanolamines report PDF.

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