PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1557348
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1557348
The global diethanolamine market is anticipated to grow at a 3.87% CAGR during the forecast period (2024-2029).
Diethanolamine (DEA) is a chemical compound widely used in detergents, cosmetics, and processes. DEA and DEA-related chemicals are used in cosmetics as emulsifiers or foaming agents and to change the pH (acidity) of the product. According to data filed with the FDA's Voluntary Cosmetic Registration Program, DEA and DEA-related substances are utilized far less often in cosmetic goods than they were when the NTP conducted their research.
The trend is that people are using shampoos, conditioners, body washes, and skin care products as a regimen in their day-to-day lives. Secondly, due to significant changes in modern life, with stressful schedules, especially in large urban environments, there is an even greater need for quick and efficient skin care products.
Additionally, global economic development, especially the growth of new international markets, has increased consumers' purchasing power to buy more personal and home products. The sectors of organic, natural, and premium outcomes also contribute to expanding the market size.
Further, technology enhances the production of DEA and helps form new substances. Dow Chemical Company makes diethanolamine as part of the ethanolamine chemical compound product line. It distributes it worldwide, including sample choices for consumers to evaluate the product's composition before purchasing in bulk. The industry is also boosted by eco-friendly DEA products that connect with environmental objectives. These factors combine to upsurge the DEA market expansion.
Diethanolamine is expected to increase significantly in the construction sector. The growing construction due to expansion in urbanization and infrastructure are boosting the demand for paints, varnishes, and concrete admixture products. These goods primarily use diethanolamine in their preparation. In addition, the expansion in the amount of diethanolamine-containing building chemicals like sealants and adhesives raises the market consumption.
Infrastructure is the most developed area in Great Britain within the construction subsector. Infrastructure output rose by 4.6% in 2023. The UK government also reaffirmed its plan to invest $127.4 billion in economic infrastructure from 2022-23 to 2024-25. Further, government statistics disclosed by the US Census Bureau create aggregate permits of 14,40,000 for April 2024 and completions of new one-unit residential constructions correspondingly equal 16,23,000. In conclusion, increasing construction activities increases the need for diethanolamine in the process, promoting its industry use.
Asia Pacific's diethanolamine market is expected to develop as the personal care sector expands. India expanded the cosmetics and personal care industry by creating new firms and brands. The overall Indian cosmetics industry mainly encompasses skin care, hair care, oral care, fragrances, and color cosmetics. The market share is estimated to reach $20 billion by 2025, with a compound annual growth rate (CAGR) of 25%. On the other hand, the worldwide cosmetics business is rising at a 4.3% CAGR and is expected to reach US$ 450 billion by 2025, mainly in regions like India, Japan, and South Korea.
In addition, the growth of large chemical businesses, including Mitsubishi Chemical Holdings, Toray Industries, and Reliance Industries, is bound to popularize the use of diethanolamine as a chemical intermediary in their manufacturing.
Besides, the increasing purchase of agrochemicals required in Asian countries in agriculture operations is stretching the market for diethanolamine, given that DEA is used to manufacture glyphosate, eradicating unwanted vegetation on plantations. According to the National Bureau of China, the chemical fertilizer consumption in 2023 was 5021.7 ten thousand tonnes. Owing to its widespread usage in different industries, the diethanolamine market in the Asia Pacific is expected to grow swiftly.