PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1457960
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1457960
The estimated value of the global ethyleneamines market in 2023 is USD 2,298.9 million, with a projected increase to USD 3,177.3 million by 2030. This growth is expected to occur
at a compound annual growth rate (CAGR) of 4.8% between 2024 and 2030.
Trends/Drivers
The etheleneamines industry is experiencing stronger demand driven by agriculture with these compounds' respective uses in pesticides, herbicides, and fungicides, contributing to better crop yields, and boosting output. Diethylenetriamine and ethylenediamine can be utilized as chelating agents to mix with metal ions in the soil.
This can aid in preventing the hail of metal ions, which might be damaging to plant growth. These agents can also advance the obtainability of vital micronutrients, such as zinc and iron for plants. Therefore, these organic substances cater as an important ingredient in the making of agricultural chemicals, like fertilizers and pesticides.
Ethyleneamines are employed as less-cost alcohol additives to raise fuel quality and lower emissions so that marketers can avoid clogging fuel injectors and combustion chambers. Therefore, the fuel consumption is related to the demand of automobiles.
The market evolves as a result of an increased number of consumers in the gender segment who are using cosmetic products containing ethyleneamines in their daily use and as a source for the manufacturer of several hair dyes and skin care products opening up new markets.
Thriving Automotive Sales
Demand for Lightweight Vehicles: Ethyleneamines are important in-vehicle applications for fuel-efficient and lightweight cars, such as corrosion inhibitors, fuel additives, and plastics, advancing industry development.
Chinese Market Is Leading: China is the largest vehicle industry worldwide that propels ethyleneamines needs, with the government aiming for 40 million units in vehicle production by 2025 (ITA).
Indian Automotive Sector Development: India's automotive market development, according to SIAM data, with more than 17.6 million automobiles sold in 2021-22 and 21.2 million in 2022-23, shows the growing use of ethyleneamines in the industry.
Market Analysis
The resins category holds a significant market share of 25% in 2023 and is expected to continue growing rapidly in the coming years. Ethyleneamines are crucial in manufacturing various types of resins, including epoxy resins and polyamide resins, commonly used in adhesives, coatings, and composites, contributing to the dominance of the resins segment.
DETA-based polyamines, a type of ethyleneamine, are utilized to enhance the wet strength of paper products. These additives prevent loss of strength and disintegration when the paper comes into contact with moisture or water by crosslinking the paper fibers.
The curing agent's category, the core of the sector, is the DETA, TETA, TEPA, and AEP EA variants, which generate an essential part of market revenue. These relatively chemically resistant and reactive epoxy resins when coupled with ethylamine curing agents have the same physical and mechanical properties as solvents during the end product forming. Moreover, they have even superior physical properties when compared to solvents.
Industries such as construction, automotive, and aerospace that place emphasis on super materials, as well as energy-efficient fabrication processes, often utilize these ethyleneamine curing agents in their applications.
Regional Outlook
The dominance of the Asia-Pacific region in the industry is credited to economic development and augmented need for automobiles.
China is a major producer of ethyleneamines for several sectors such as textiles, adhesives, paints, and personal care items.
Hygiene worries and the surge in tourism activities pay to the augmented need for laundry detergent items, particularly in hotels.
India is the second-largest maker of garments and textiles and the fifth-biggest exporter of apparel, technical textiles, and home furnishings.