Ethanol Amines Market worth US$4.5 billion by 2027 at a growth rate of 4.1% - IndustryARC
Growing demand from cleaning products industry
HYDERABAD, TELANGANA, INDIA, January 16, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Ethanol Amines Market size is forecast to reach US$4.5 billion by 2027, after growing at a CAGR of 4.1% during 2022-2027. Ethanol Amines are organic compounds produced by the reaction between ethylene oxide and ammonia and they are composed of amino acids. Ethanolamine is referred to as a class of antihistamines including dimenhydrinate, carbinoxamine, doxylamine clemastine, and dimenhydrinate. Ethanolamine is the second-most-abundant head group for phospholipids, substances found in biological membranes and they are used in aqueous solutions for scrubbing acidic gases. Ethanolamine is one of the representative organic corrosion inhibitors and when ethanolamine reacts with ammonia gives ethylenediamine, which is used as chelating agent. The growing adoption of ethanolamines among different industries such as agrochemicals, metallurgy, personal care, textile, construction, and pharmaceuticals is driving the market growth during the forecast period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.Click here to browse the complete report summary:
https://www.industryarc.com/Research/Ethanol-Amines-Market-Research-507263
Key takeaways:
This IndustryARC report on the Ethanol Amines Market highlights the following areas -
1. The Asia Pacific is expected to register the highest CAGR of 5.6% during the forecast period (2021-2026). Rapid urbanization, emerging economies, and the growing manufacturing sector are the major factors driving the market growth.
2. The triethanolamine segment is expected to hold a major market share during the forecast period 2022-2027.
3. The increasing market for personal care and the growing importance of ethanolamines among end -users are the key factors driving the Ethanol Amines market.
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Segmental Analysis:
1. The triethanolamine segments accounted for approximately 32% of the market share in 2020 and is estimated to grow at a significant CAGR during the forecast period.
2. Asia Pacific region held a significant share in the Ethanol Amines market in 2020, up to 36%, owing to the rapid growth in agriculture, personal care, industrial cleaners, and construction in the region. The presence of developing nations such as India and China is driving the market growth in the region.
3. The household and industrial cleaners segment accounted for more than 18% of the market share in 2020 and is estimated to grow significantly during the forecast period. Ethanolamines are used as a feedstock in the production of detergents, emulsifiers, polishes, corrosion inhibitors, and others.
4. Ethanolamines are used as common ingredients in cleaning products such as floor and tile cleaners, as well as laundry detergents. Ethanolamines help to remove dirt, grease, and stains.
Competitive Landscape:
The top 5 players in the Agro Textiles Industry are -
1. INEOS Oxide Ltd.
2. Huntsman Corporation
3. China Petroleum & Chemical Corporation
4. Thai Ethanolamines Co., Ltd
5. Sinopec Shanghai GaoQiao Petrochemical Corporation
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https://www.industryarc.com/Report/15387/alkyl-amines-market.html
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