Expanded Growth Projection for Ethanolamines Market Reaches 5.0% Compound Annual Growth Rate (CAGR) by 2034
The global ethanolamines market is experiencing a significant surge, with projections indicating a compound annual growth rate (CAGR) of around 7.35% from 2022 to 2030, reaching an estimated value of approximately USD 24 billion by 2030. This growth trend is expected to continue beyond 2030, with the market size potentially exceeding the projected value.
The ethanolamines market is part of the broader amines market, which includes ethylene amine, alkyl amines, fatty amines, specialty amines, and ethanolamines. These versatile chemicals find applications in various sectors, such as water treatment, cleaning products, agriculture, personal care, petroleum, paint & coatings, pharmaceuticals, and more. The increasing demand in these end-use sectors, particularly in cleaning and personal care, is driving the market's growth.
In 2024, the Asia-Pacific region led the global ethanolamines market, accounting for 47.1% of the market share with a valuation of USD 1.2 billion. This regional dominance is expected to continue, with the Asia-Pacific region set to reach USD 4.4 billion by 2034.
Surfactants and gas treatment are key areas of demand for ethanolamines in the Asia-Pacific region. In 2024, surfactants held a dominant market position, capturing more than a 31.8% share of the global ethanolamines market.
Notable developments in the ethanolamines industry include OUCC's expansion of its ethanolamines production in 2024 to meet the rising demand in the Asia-Pacific region. Similarly, Dow announced a capacity expansion at its U.S. ethanolamines facility in May 2025 to support growing demand in home care and industrial cleaning.
The agricultural sector is another significant growth area for ethanolamines. The use of ethanolamine-based herbicides is growing significantly, with herbicide-supported agricultural production projected to increase by approximately 70% by 2050.
Efforts towards sustainability are also shaping the ethanolamines market. Companies like Akzo Nobel's Nouryon and Huntsman Corporation LLC have received certifications or launched sustainable ethanolamine product lines derived from bio-based feedstocks.
Government policies in countries like India are expected to boost ethanol demand, indirectly driving ethanolamine production and use. For instance, the Ministry of Petroleum and Natural Gas in India is advancing biofuel adoption by promoting ethanol-gasoline blending, aiming for a 20% blend by 2025.
In conclusion, the ethanolamines market is poised for robust growth, driven by its wide use in various industries and the increasing demand in key regions like the Asia-Pacific. With companies focusing on sustainability and government policies promoting biofuels, the market is expected to continue its upward trajectory.
- The versatile ethanolamines, a part of the broader amines market, are not only in demand for sectors like water treatment, agriculture, and personal care, but are also finding applications in industries such as finance, energy, and oil-and-gas, due to their use in surfactants and gas treatment.
- In the realm of the housing market and real-estate, companies like Dow have increased their ethanolamines capacity to cater to the growing demand in home care and industrial cleaning products.
- The agricultural sector, particularly in India, where government policies are promoting ethanol-gasoline blending, is expected to be a significant growth area for ethanolamines, with the use of ethanolamine-based herbicides projected to increase by approximately 70% by 2050.
- In an effort to bolster sustainability, companies like Akzo Nobel's Nouryon and Huntsman Corporation LLC have received certifications or launched sustainable ethanolamine product lines derived from bio-based feedstocks, aligning with global trends and investor preferences in the finance sector.
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