The global Ethanolamines Market was USD 3.31 Billion in 2022 and is expected to reach USD 6.21 Billion in 2032, and register a rapid revenue CAGR of 5% during the forecast period. Rising demand for herbicides in the agriculture sector is one of the key factor driving market revenue growth. Herbicides, which are frequently used to increase agricultural yield and prevent weed development, are made mostly from ethanolamines as primary raw materials.
Herbicides have become increasingly necessary as food demand rises globally to secure higher crop yields. Due to this, need for ethanolamines in the agriculture sector has increased significantly, and in the upcoming years, this demand is expected to rise. In addition, rising demand for personal care products is another factor driving revenue growth of the market. Several personal care items, including shampoos, soaps, and skin care products, are made using ethanolamines. Need for personal care products is increasing by rising self-care and personal hygiene awareness.
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Market Scenario:
The materials and chemicals sector has significantly grown over the recent years and is expected to register robust revenue CAGR over the forecast period. The materials and chemicals sector comprises daily wear products such as detergents, perfumes, soaps, and other raw materials and chemicals used in the manufacturing of other products. There has been a significant increase in the demand for raw materials and chemicals across various industrial sectors such as healthcare and pharmaceuticals, automotive, agriculture, manufacturing, paint, and food and beverages among others. Factors such as increasing awareness about green energy and excess carbon emission, changing consumer preference, growing adoption of biodegradable, sustainable and eco-friendly products, and rapidly expanding industries and building and construction sector are expected to boost global market revenue growth going ahead.
Major Companies:
- BASF SE
- Dow Chemical Company
- Huntsman Corporation
- SABIC
- INEOS
- Taiyo Nippon Sanso Corporation
- Shandong IRO Amine Industry Co. Ltd.
- China National Chemical Corporation
- AkzoNobel N.V.
Competitive Landscape:
The report further sheds light on the competitive landscape and provides in depth information about each market player including its global position, product portfolio, financial standing, revenue growth and company overview. The market players are focused on adopting various inorganic and organic growth strategies such as mergers and acquisitions, joint ventures, collaborations, product launches and partnerships to gain a robust footing in the market.
Key questions addressed in the report:
- What is the expected market size of the global Ethanolamines market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Ethanolamines market?
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Ethanolamines Market Segmentation:
Type Outlook:
- Monoethanolamine
- Diethanolamine
- Triethanolamine
Application Outlook:
- Surfactants
- Chemical Intermediates
- Herbicides
- Gas Treatment
- Others
Regional Outlook:
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- A.E.
- South Africa
- Rest of MEA
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