The major trend being witnessed in the global ethanolamine market is increased capital expenditure in order to boost production capacity of ethanolamine. With the rapid advancement in agricultural sector across the world, the companies engaged in production of amine are looking forward to expand their production capacity.
On the basis of product type, the ethanolamine market is categorized into monoethanolamine, diethanolamine, and triethanolamine. Triethanolamine held a significant share in the market during the historical period. It is a widely used amine in construction industry as performance enhancer as well as grinding aid for cement.
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With the growing economic development and advancement in the agricultural sector, emerging economies are expected to offer lucrative opportunities for the growth of the ethanolamine market. Countries such as China and India are witnessing rapid advancement in the construction industry as well as the agricultural sector.
Based on region, the ethanolamine market is categorized into Europe, North America, Asia-Pacific, Latin America, and Middle East and Africa. Among all the regions, Asia-Pacific held a significant share in the market during historical period, driven by growing demand for amine from domestic end-use industries in the region. The expanding base of industries owing to lower cost of production in countries such as India and China is expected to boost the growth of the regional market in the coming years.
Aome of the major players competing in the global market include BASF SE, INEOS Oxide Ltd., DowDupont Incorporation, China Petroleum & Chemical Corporation, Thai Ethanolamines Co. Ltd., Fushun Beifang Chemical Co. Ltd., Sinopec Shanghai GaoQiao Petrochemical Corporation, Akzo Nobel N.V., Jiaxing Jinyan Chemical Co. Ltd., Shijiazhuang Haisen Chemical Co. Ltd., and Huntsman Corporation.
The major driver identified in the ethanolamine market is the growing usage of the amine in the European agricultural sector. The European countries have a well-developed agriculture sector and is characterized by usage of modern agricultural practices.
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The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.
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