Global Monoethanol Amine Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028.
The Monoethanol Amine or Monoethanolamine (MEA) can be defined as simple ethanolamine and an organic chemical compound with one primary amine and one alcohol group. It is a colorless liquid with a mild ammonia odor. MEA is widely used in detergent, personal care, textile finishing, and wood treating products. It also has applications in corrosion protection of oil well and metalworking products. In consumer personal care and cleaning products, MEA acts as a cleansing ingredient and surfactant. The rising Textile Sector worldwide and growing pulp & dye industry as well as recent collaboration from leading market players are factors that are accelerating the global market demand. For instance, according to Textile Exchange's Preferred Fiber & Materials Market Report 2021- during 2020, the global fiber production estimated at around 109 million tonnes and, it is expected to increase by around 34 percent to 146 million tonnes in 2030. Furthermore, recent expansion activities from leading market players would influence the growth of Global Monoethanol Amine market. For instance, in April 2022, BASF and SINOPEC announced the expansion of their Verbund site operated by name BASF-YPC Co., Ltd. (BASF-YPC). This company is a 50-50 joint venture of both companies in and located in Nanjing, China. Under this expansion both the players would expand production capacities of propionic acid, propionic aldehyde, ethyleneamines, ethanolamines and purified ethylene oxide, and would also build a new tert-butyl acrylate plant. Also, growing expansion of cleaning products industry as well as rising industrialization in developing regions are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, negative impact of covid 19 pandemic on end use industries and health hazards associated with Monoethanol Amine impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Monoethanol Amine Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing consumption of specialty chemicals and presence of leading market players. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of the agriculture industry and increasing number of construction activities in the region, would create lucrative growth prospects for the global Monoethanol Amine Market across the Asia Pacific region.
Major market players included in this report are:
The Lubrizol Corporation
Dow Chemical Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Monoethanol Amine Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers