“Global Ethyleneamines Market to reach a market value of USD 3.3 Billion by 2031 growing at a CAGR of 5%”
The Global Ethyleneamines Market size is expected to reach $3.3 billion by 2031, rising at a market growth of 5.0% CAGR during the forecast period. In the year 2023, the market attained a volume of 5,608.34 hundred tonnes, experiencing a growth of 17.4% (2020-2023).
Ethyleneamines are employed as fuel additives in automotive fuels to improve combustion efficiency, reduce emissions, and prevent engine deposits and corrosion. Thus, the automotive segment acquired 10.6% revenue share in the market 2023. In terms of volume the automotive segment attained a volume of 569.36 hundred tonnes in 2023. They act as detergents, dispersants, and corrosion inhibitors, keeping fuel systems clean, preventing the buildup of deposits on fuel injectors, intake valves, and combustion chambers, and protecting metal components from corrosion caused by ethanol-blended fuels and biodiesel.
Ethyleneamines are intermediates in synthesizing pharmaceutical compounds, including active pharmaceutical ingredients (APIs) and drug precursors. Advancements in medicinal chemistry and drug discovery techniques have developed new therapeutic agents with enhanced efficacy, specificity, and safety profiles.
Additionally, Ethyleneamines are used as conditioning agents and pH adjusters in hair care products such as shampoos, conditioners, and hair treatments. They help improve hair's manageability, softness, and shine by smoothing the cuticles and reducing static electricity. Hence, increasing focus on personal care industry has been a pivotal factor in driving the growth of the market.
However, Raw material prices, including ethylene oxide and ammonia, are volatile due to global demand-supply dynamics, currency fluctuations, and geopolitical events. Sudden price spikes or shortages in raw materials can lead to increased production costs for ethyleneamines manufacturers, affecting their profitability and competitiveness in the market. Thus, availability and cost of raw materials can slow down the growth of the market.
By type, the market is categorized into ethylenediamines, diethylenetriamine, triethylenetetramine, and others. The diethylenetriamine segment covered 28.3% revenue share in the market in 2023. In terms of volume the diethylenetriamine segment would capture a volume of 2,266.86 hundred tonnes by 2031.
Based on application, the market is classified into chelating agents, corrosion inhibitors, lube oil & fuel additives, processing aids/additives, textile additives, curing agents, and others. The lube oil & fuel additives segment acquired 22.1% revenue share in the market in 2023. In terms of volume the lube oil & fuel additives segment would attain 1,688.54 hundred tones by 2028.
On the basis of end-use, the market is divided into resin, paper, adhesive, automotive, water treatment, agro chemicals, pharmaceuticals, personal care, textile chemicals, and others. In 2023, the resin segment dominated the market with 22.8% revenue share. In terms of volume the resin segment would attain a volume of 1,596.87 hundred tonnes by 2029.
Free Valuable Insights: Global Ethyleneamines Market size to reach USD 3.3 Billion by 2031
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the North America region acquired 21.7% revenue share in the market. In terms of volume North America region would attain 1,545.50 hundred tonnes by 2030.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 2.2 Billion |
| Market size forecast in 2031 | USD 3.3 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5% from 2024 to 2031 |
| Quantitative Data | Volume in Hundred Tonnes, Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 460 |
| Number of Tables | 910 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, End-use, Region |
| Country scope |
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| Companies Included | Huntsman Corporation, Tosoh Corporation, BASF SE, SABIC (Saudi Arabian Oil Company), Oriental Union Chemical Corp., The Do, Chemical Company, Nouryon Chemicals Holding B.V., Kanto Chemical Co., Inc., Balaji Speciality Chemicals Limited (Balaji Amines Ltd.), Diamines and Chemicals Limited |
By Type (Volume, Hundred Tonnes, USD Billion, 2020-2031)
By Application (Volume, Hundred Tonnes, USD Billion, 2020-2031)
By End-use (Volume, Hundred Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Hundred Tonnes, USD Billion, 2020-2031)
This Market size is expected to reach $3.3 billion by 2031.
Advancements in the healthcare industry are driving the Market in coming years, however, Availability and cost of raw materials restraints the growth of the Market.
Huntsman Corporation, Tosoh Corporation, BASF SE, SABIC (Saudi Arabian Oil Company), Oriental Union Chemical Corp., The Do, Chemical Company, Nouryon Chemicals Holding B.V., Kanto Chemical Co., Inc., Balaji Speciality Chemicals Limited (Balaji Amines Ltd.), Diamines and Chemicals Limited
In the year 2023, the market attained a volume of 5,608.34 hundred tonnes, experiencing a growth of 17.4% (2020-2023).
The Curing Agents segment is leading the Market by Application in 2023; thereby, achieving a market value of $833 million by 2031.
The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.5 billion by 2031.
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