H1 2023: The leading companies in the global Ethanolamine market in H1 2023 were Dow Chemical Company, BASF SE, and INEOS. Based on region-wise consumption, the Asia Pacific region was the leading consumer of ethanolamine. There are three kinds of ethanolamine- Monoethanolamine, Diethanolamine, and Triethanolamine. Sadara Chemical, one of Saudi Arabia's biggest chemical companies, declared a force majeure on the Triethanolamine plant in February 2023 which lasted for the entire month. In North America, Ethanolamine prices plummeted in January 2023. The primary driver of the regional price decline was a drop in the raw material prices (ethylene oxide and ammonia), which are utilised in the production of triethanolamine. There was a stable supply of ethanolamine from domestic manufacturers and cheap imports from the foreign market, which influenced prices in the US market. The Ethanolamine market continued to plummet until June, owing to a sharp drop in feedstock Ammonia and Ethylene Oxide. Furthermore, abundant product supply and the weak US economy contributed to weak product demand. Similarly, in the Chinese market, Triethanolamine prices fell in January 2023 due to low commodity demand and a drop in ammonia price. In March 2023, an unexpected spike in demand from the end-user industries boosted the Chinese market. The Asia Ethanolamine market expanded from April 2023 due to increased demand from downstream industries. Prices began to climb exponentially from May 2023 backed by the high demand from downstream Asian cosmetic markets such as India and South Korea.
The global Ethanolamine market has swelled to reach demand of approximately 1700 thousand tonnes in 2022 and is expected to grow at a CAGR of 3.98% during the forecast period until 2032.
Ethanolamine or 2-Aminoethanol is an organic bifunctional compound. It has one amine group and an alcohol group present in its formulation. This compound is synthesized on an industrial level by the chemical reaction of ethylene oxide with ammonia. The reaction conditions include 40- 80 degree Celsius and pressure in the range of 20- 40 atm. On further rectification, Ethanolamine is separated into its three main types: Mono Ethanolamine, Di Ethanolamine, and Tri Ethanolamine. Ethanolamine is utilized to produce cleansers, emulsifying agents, varnishes, polishes, analgesics, protective coatings, and chemical intermediates. Furthermore, it is also used as a precursor for producing the chelating agent Ethylenediamine tetraacetic acid (EDTA). Mono Ethanolamine and Di Ethanolamine are frequently employed as surfactants in the production of cosmetics, shampoos, conditioners, and detergents. Di Ethanolamine is further employed in the production of agrochemicals and herbicides. Triethanolamine is mostly found in personal care items, gas treatment, and detergents.
The primary market driver for the global Ethanolamine market is Soaps & Detergents Industry. Furthermore, it is estimated to dominate the market in the forecast period. Ethanolamine is employed in Gas Treatment and chemical synthesis, which further contributes to the Global Ethanolamine demand. The gas treatment utilizes Ethanolamine for scouring waste gas streams of acidic contaminants like carbon dioxide and hydrogen sulphide. The global Ethanolamine market is expected to reach a demand of approximately 2500 thousand by 2032.
Based on demand by region, Asia Pacific dominates the global Ethanolamine market. In 2022, Asia Pacific consumed approximately 44% of total Ethanolamine globally produced. Owning to the high demand in the surfactants and cosmetics industries, which is driving the Ethanolamine market throughout the Asia Pacific region, a surge in the Ethanolamine demand is expected by 2032. However, North America is the second largest consumer with demand for applications in the personal care sector and oil & gas sector. With the rise of gas purification in the production of natural gas, North America is anticipated to foresee a hike in demand in the coming times.
Based on type, the Ethanolamine market is segregated into Mono Ethanolamine, Di Ethanolamine, and Tri Ethanolamine. Mono Ethanolamine is dominating the global Ethanolamine market and displayed a market share of about 52% in 2022. It is expected to dominate the global Ethanolamine market in the forthcoming years. Mono Ethanolamine is utilized in polishes, hair-waving solutions, the manufacture of surface-active compounds, and as a dispersant for agricultural chemicals. Mono ethanolamine finds applications in surfactants, textile finishing & wood treatment, personal care products, corrosion inhibitors in oil well chemicals & metalworking, as a dispersant for agricultural chemicals. They are extensively used in the manufacturing of ethylenediamines. Di ethanolamine is commonly used in manufacturing of soaps, surfactants for laundry detergents, cosmetics, hair conditioning & shampoos. It is also used in gas purification, manufacturing of cement additives, agrochemicals & herbicides. Tri ethanolamine is majorly used in detergents, gas treatment & personal care products.
Based on the end-user industry, the global Ethanolamine market is segmented into Soaps & Detergents, Gas Treatment, Cosmetics & Personal Care Products, Agrochemicals, and Others. The Soaps & Detergents industry is dominating the Ethanolamine market. This industry consumed approximately 37% of the market in 2022 and is anticipated to domain the market in the forecast period as well. The gas Treatment industry is the second largest consumer with the Cosmetics & Personal Care Products Industry as a close competitor.
Major players in the production of Global Ethanolamine are Dow Chemical Company, BASF SE, INEOS, AKZO Nobel, Oriental Union Chemical Corporation (OUCC), Oxiteno, Saudi Kayan Petrochemical Company, Petronas Chemical Group, Nippon Shokubai Co., Ltd, PTT Global, Lotte Chemical, Sasol, and Shazand Petrochemical Co., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2032
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Objective of the Study:
• To assess the demand-supply scenario of Ethanolamine which covers production, demand and supply of Ethanolamine market in the globe.
• To analyse and forecast the market size of Ethanolamine
• To classify and forecast Global Ethanolamine market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Ethanolamine market in the globe.
To extract data for Global Ethanolamine market, primary research surveys were conducted with Ethanolamine manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Ethanolamine market over the coming years.
ChemAnalyst calculated Ethanolamine demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Ethanolamine across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Ethanolamine manufacturers and other stakeholders
• Organizations, forums and alliances related to Ethanolamine distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Ethanolamine manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Ethanolamine market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
1700 thousand tonnes
Market size Volume by 2032
2500 thousand tonnes
Growth Rate
CAGR of 3.98% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Capacity by Process, Capacity by Technology, Production by Company, Demand by End- Use, Demand by Type, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
Segments covered
By End-Use: (Soaps & Detergents, Gas Treatment, Cosmetics & Personal Care Products, Agrochemicals, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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supply of the product in the market at a Global level.
What is the expected demand by volume of the global Ethanolamine market by 2032?
Ans:
It is expected that the demand by volume of the global Ethanolamine market will reach approximately 2500 thousand tonnes by 2032.
Q2.
What are the major end-use industries utilizing Ethanolamine?
Ans:
The majority of the global Ethanolamine is held by Soaps & Detergents, Gas Treatment, Cosmetics & Personal Care Products, and Agrochemicals are the leading end-use industries.
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