Aminoethylethanolamine Market To Hit Value $299.7 Million By 2027 |Grand View Research, Inc. in Web marketing

  • May 3, 2021, 2:31 a.m.
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The global aminoethylethanolamine market size is projected to reach USD 299.7 million by 2027 registering a CAGR of 4.7%, according to a new report by Grand View Research, Inc. Rising demand for polyurethane products as well as increasing consumption of chelating agents in detergents and cleaning products are projected to drive the market. Polyurethane is widely utilized across numerous end-use industries, such as automotive, construction, consumer goods, electrical & electronics, packaging and footwear, owing to its inherent advantageous characteristics including high thermal & chemical resistance, durability, and low-cost production.

It is one of the highly consumed plastics owing to its favorable physical properties and abrasion resistance. Amino Ethyl Ethanol Amine (AEEA) is used to manufacture polyurethane that is used in the production of spray foams, appliances, building panels, and automotive elastomers. China is a global leader, in terms of polyurethane consumption, owing to rising demand from end-use industries. The presence of a large number of manufacturers coupled with investments in upstream activities is driving the demand. North America and Europe markets are growing steadily owing to slightly sluggish growth in the end-use industries.

Increased efficiency in building materials has generated higher demand for efficient insulating materials to regulate HVAC. PU foams are extremely efficient insulation materials, which lead to greater energy savings. Numerous businesses have realized other intangible benefits of green buildings, such as increased employee productivity, improved employee satisfaction, and their positive impact on company’s brand and reputation. These factors are likely to fuel the utilization of AEEA in the manufacturing of polyurethane over the coming years. Furthermore, detergents and household cleaners have exhibited significant growth in the past few years due to factors such as, rising disposable income in emerging economies, which is also driving the market.

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The chelating agents form water soluble metal complexes that help form more lather and reduce surface tension. Amino Ethyl Ethanol Amine (AEEA) is used as a chelating agent as it is made up of a primary and secondary amine group that can be used to form metal complexes. It is replacing chemicals, such as phosphonates and citric acid, as prospective chelating agents. Detergents and household cleaners had significant demand in the past few years. Changing consumer habits, such as the adoption of online channels for the purchase of household products, have assisted the market growth. The demand for household cleaning products is higher in the U.S., China, and Japan due to the rising population and general awareness about personal hygiene.

Aminoethylethanolamine Market Report Highlights

99% grade of AEEA accounted for the largest volume share in 2020 and is projected to expand at a steady CAGR from 2020 to 2027 on account of its utilization as a dispersant in engine oil and other lubricants
Lubricants application is expected to witness a CAGR of 3.2%, in terms of volume, from 2020 to 2027 due to increasing demand for fuel additives
Asia Pacific is expected to register the fastest growth rate of 3.9%, in terms of volume, from 2020 to 2027 owing to strong presence of cleaning products manufacturers, lubricant formulators, and textile producers in the region
The major companies are adopting strategies, such as mergers & acquisitions and project expansion, to strengthen their market position
A similar trend is being adopted by consumers in emerging economies, such as India, Indonesia, the Philippines, Argentina, and Vietnam. As most of the high-growth markets are present in the Asia Pacific, manufacturers are expected to invest more in the region over the coming years. Private label products are expected to assist in the market growth of chelating agents as their volumetric consumption is increasing rapidly in emerging economies.

The demand for chelating agents is expected to grow synonymously with that of detergents as they have now become an indispensable component of detergent formulations. The degradation of water quality in emerging economies due to heavy industrialization is expected to benefit market growth. The rising adoption of a healthy lifestyle and increased penetration of the online distribution channels will boost the demand further as more volume of detergents will be produced to meet the rising demand.

In terms of volume, >99% grade segment led the market with a share of more than 57% in 2020. This high share is attributable to the wider application of the grade type across various end-use industries. AEEA is used in a variety of industries due to its properties, such as low vapor pressure, versatility, and high viscosity. Companies, such as Dow Chemical, Nouryon, Prasol Chemicals, and Huntsman Corp., are some of the leading producers of <99% and >99% purity grade AEEA products.

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Major companies are focusing on new product development, partnerships, and collaborations to reach out to the maximum potential customer at optimum distribution cost. Manufacturers of specialty chemicals, such as surfactants and softeners, have been actively doing collaborations with industry leaders to enhance their market penetration and product positioning. Key market participants are also emphasizing on analyzing the customer needs and value proposition of the competition in the market. They are investing in developing and innovating new technologies to reduce their production costs and time; simultaneously increasing their operational efficiency.
Some of the prominent players in the aminoethylethanolamine market include:

AkzoNobel
Ashland
Dow Inc.
Huntsman International
TCI Chemicals Ltd.
Tosoh Corporation

Grand View Research has segmented the global aminoethylethanolamine market on the basis of grade, application:

Amino Ethyl Ethanol Amine Grade Outlook (Volume, Tons; Revenue, USD Thousand, 2016 - 2027)

99%
<99%

Amino Ethyl Ethanol Amine Application Outlook (Volume, Tons; Revenue, USD Thousand, 2016 - 2027)

Chelating Agent
Surfactants
Textile Additives
Fabric Softeners
Lubricants
Others

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com


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