Ethanolamines Market

Increase in building and construction is fuelling market growth

Building and construction operations are regarded as the pillars of a country's progress and contribute significantly to the market CAGR for Ethanolamines growth. According to Volvo CE, the construction sector has seen a growth in the production and manufacturing of construction materials across numerous regions since the fourth quarter of 2020. In 2020, South America saw a 12% increase, Asia 39%, Europe 20%, and China 28%. All of these reasons raised demand for construction materials such as concrete, steel, cement, paints, and other building materials around the world.

Ethanolamines are often utilized as performance enhancers and cement grinding aids to minimize total energy consumption during the cement manufacturing process, as well as to improve cement quality. Similarly, Ethanoalamines offer corrosion prevention capabilities as well as higher mechanical and compressive strength, making them appropriate for the manufacturing of protective coatings, steel, and concrete. This, in turn, increased demand for the use of Ethanolamine, which is necessary for the production of various construction materials, resulting in market growth in the next years.

Additionally, ethanolamine is also found in agricultural chemicals like insecticides and herbicides. The primary benefit of employing Ethanolamine is that it improves a pesticide's capacity to dissolve in water. Similarly, Diethanolamine is one of the key raw chemicals necessary during the synthesis of glyphosate, which aids in the production of high-quality herbicides. According to "Statistics Times" data, China is the top contributor to the agricultural economy, accounting for 19.49% of total agricultural output, followed by India at 7.39%. Furthermore, when released into aquatic habitats, ethanolamines can pollute the water by increasing the chemical oxygen requirement and total nitrogen count.

As a result, the significant danger of environmental degradation and health risks associated with the long-term usage of Ethanolamines may limit market revenue.

The Global Ethanolamines Market Industry experiences a notable surge in demand driven by the agricultural sector. Ethanolamines serve as essential components in the production of herbicides, pesticides, and fertilizers, enhancing crop yield and quality. As the global population continues to grow, the need for efficient agricultural practices intensifies. This trend is reflected in the projected market value, which is expected to reach 2.42 USD Billion in 2024. The increasing adoption of sustainable farming practices further propels the demand for ethanolamines, as they are often favored for their lower environmental impact compared to traditional chemicals.

The Global Ethanolamines Market Industry is characterized by various trends and projections that highlight its growth potential. The market is expected to reach a value of 2.42 USD Billion in 2024, with a projected increase to 3.86 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate (CAGR) of 4.34% from 2025 to 2035. Key factors influencing this growth include rising demand in agriculture, personal care, and industrial applications, alongside increasing environmental regulations. These trends indicate a dynamic market landscape, where ethanolamines play a crucial role in meeting diverse industry needs.

The Global Ethanolamines Market Industry is witnessing growth due to the increasing utilization of ethanolamines in the construction sector. These compounds are employed in the formulation of cement and concrete additives, enhancing their properties and performance. As urbanization accelerates globally, the demand for construction materials that improve durability and workability is on the rise. Ethanolamines contribute to achieving these objectives, making them essential in modern construction practices. This trend aligns with the overall market growth, as the industry adapts to meet the needs of a rapidly urbanizing world.

The Global Ethanolamines Market Industry is significantly influenced by the expanding personal care sector. Ethanolamines are utilized as surfactants and emulsifiers in various personal care products, including shampoos, conditioners, and skin creams. The rising consumer awareness regarding personal grooming and hygiene is likely to bolster the demand for these products. As a result, the market for ethanolamines is projected to grow, with estimates suggesting a value of 3.86 USD Billion by 2035. This growth is indicative of the increasing incorporation of ethanolamines in formulations that cater to consumer preferences for effective and safe personal care solutions.

The Global Ethanolamines Market Industry benefits from the expanding industrial applications of ethanolamines. These compounds are integral to the production of various chemicals, including detergents, textiles, and plastics. The versatility of ethanolamines allows them to serve multiple roles, such as pH control agents and corrosion inhibitors. As industries seek to enhance product performance and sustainability, the demand for ethanolamines is anticipated to rise. This trend is supported by a projected compound annual growth rate (CAGR) of 4.34% from 2025 to 2035, indicating a robust market outlook driven by industrial innovation and efficiency.

The Global Ethanolamines Market Industry is shaped by the increasing emphasis on environmental regulations and sustainability. Governments worldwide are implementing stricter regulations on chemical usage, prompting industries to seek greener alternatives. Ethanolamines, known for their relatively lower toxicity and biodegradability, are becoming preferred choices in various applications. This shift towards sustainable practices is likely to drive demand for ethanolamines, as industries aim to comply with environmental standards while maintaining product efficacy. The growing awareness of environmental issues among consumers further supports this trend, indicating a potential for sustained growth in the ethanolamines market.

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific region held the largest share in the Ethanolamines Market in 2021, up to 30%, owing to rising demand for Ethanolamines in the fragrance, cosmetics, and personal care industries.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: ETHANOLAMINES MARKET SHARE BY REGION 2022 (%) 

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe’s ethanolamines market accounts for the second-largest market share due to the increased usage of herbicides and agrochemicals in the area. Further, the German ethanolamines market held the largest market share, and the UK ethanolamines market was the fastest-growing market in the European region.

The North America Ethanolamines Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the considerable demand from end-use industries such as personal care, detergent, and herbicides within the region. Moreover, China’s ethanolamines market held the largest market share, and the Indian ethanolamines market was the fastest-growing market in the North American region.

Leading market players are investing heavily in R&D in order to expand their product lines, which will help the ethanolamines market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, ethanolamine industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the ethanolamines industry to benefit clients and increase the market sector. In recent years, the ethanolamines industry has offered some of the most significant advantages to medicine. Major players in the ethanolamines market, including SABIC (Saudi Arabia), Jiaxing Jinyan Chemical Co. Ltd. (China) and China Petroleum & Chemical Corporation (China) and others, are attempting to increase market demand by investing in R&D operations.

Sinopec, or China Petroleum & Chemical Corporation, is a Chinese oil and gas company headquartered in Beijing. It is listed in Hong Kong and also trades in Shanghai. Sinopec Limited's parent company, Sinopec Group, is the world's largest oil refining, gas, and petrochemical conglomerate, located in Beijing's Chaoyang District.

Sinopec's operations include oil and gas exploration, refining, and marketing; production and sales of petrochemicals, chemical fibres, chemical fertilizers, and other chemical products; storage and pipeline transportation of crude oil and natural gas; and import, export, and import/export agency business of crude oil, natural gas, refined oil products, petrochemicals, and other chemicals. It also creates ethanol and a variety of biofuels, including biodiesel and green jet fuel, from waste vegetable oil.

INEOS Group Limited is a British multinational chemicals corporation based in London. It is the world's fourth largest chemical corporation as of 2021. Ineos is organized into around 20 separate business divisions, each with its own board and operating almost entirely autonomously, but founder Sir Jim Ratcliffe and his friends occasionally sit on their boards. Ineos is an abbreviation for INspec Ethylene Oxide and Specialities, the company's prior name.

It also contains one Latin word and two Greek terms. "Ineo" means "new beginning" in Latin, "Eos" is the Greek goddess of dawn, and "neos" means "something new and innovative" in Greek. Ineos claims that its name reflects the "dawn of something new and innovative" in addition to being an acronym. In July 2019, INEOS Group Holdings S.A announced the new ethylene oxide and derivatives production plant in Houston, U.S. The new plant, which will produce 520,000 tons of ethylene oxide, is expected to be operational by 2023.

This will allow the company to address a fast-growing ethylene oxide market, as well as its own requirements.