ALBANY, New York, October 8, 2018 /PRNewswire/ --
The global ethanolamines market is fragmented in nature. The market witness a steed competition among the market players owing to low scope of profit. Top five players in the market which holds a whopping share of 48% of the overall market are The Dow Chemical Company, Huntsman Corporation, LyondellBasell Industries N.V, INEOS Group Ltd., and SAIBC. Players in order to enter the market have to siphon hefty amount of investment at an early stage, once it has been invested, players can enjoy considerate amount of profit through unaware consumer base, numerous suppliers ammonia and ethylene oxide, and less number of substitutes available.
Rise in number of players in the market are focusing on extensive research and development to provide efficient product and to attract consumers. Players in the market are opting for various strategies, such as partnership, collaborations, mergers and acquisitions in order to have a firm grip over the consumer base.
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Transparency Market Research, recently made a report based on ethanolamines market. Analysts present, predicted that the global ethanolamines market to rise at a stable CAGR of 4.1% during the assessed period, 2016 - 2024. The market which was worth at US$2.8 bn in 2015, is anticipated to touch US$4.0 bn by the end of the assessed period. The global ethanolamines market on the basis of application is segregated into gas treatment, surfactants, herbicides, cement, and other uses such as textiles, metal working fluids, wood preservatives, and textiles. Of these surfactant segment is likely to holds the major share throughout the forecast period. On the basis of geography, Asia Pacific, held a whopping 70% of the total market share in recent years and is anticipated to retain the position in the coming years.
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Surge in Uptake of Glyphosate and Personal Care Products to Bolster Demand
Ethanolamines is considered as one of the important raw materials required for producing herbicides. Rise in uptake of glyphosate, which is considered to be highly consumed herbicides has helped the market to grow at a stupendous rate. Increase in the cultivation of genetically mutated products along with increasing dominance of no-till farming has helped consumption of glyphosate to a whole new level. The product is known to be utilized in 130 nation and produced in 20 nations. Rise in uptake of glyphosate is anticipated to have a positive influence on the global ethanolamines market in coming years. Apart from these, ethanolamines have finds its application in the surfactants market. Growing surfactants market all across the world is helping the market to climb up the growth ladder.
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Volatile Raw Material Costs to Negatively Affect Market Growth
However it has been noticed that the erratic cost of raw materials required for manufacturing ethanolamines is going to pull the market down drastically. Expensive cost of the raw materials is making major players to reduce their production rate whereas the small players stall their production waiting for the cost to settle. Although, rise in uptake of gas sweetening agents is anticipated to provide lucrative approach to profit the players. Apart from these, exponential rise of surfactants from the personal care products market particularly in the emerging regions such a Asia Pacific, Middle East and Africa, and Latin America. Personal care market is growing stupendously attributed to change in lifestyle and rapid urbanization is likely to have positive influence on the growth of the market.
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This review of the global dental laboratories market is based on a recent market research report by "Ethanolamines Market (Product - Monoethanolamines (MEA), Diethanolamines (DEA), Triethanolamines (TEA); Application - Surfactants, Chemical Intermediates, Herbicides, Gas Treatment, Cement) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."
Global Ethanolamines Market - Product Segment Analysis
- Monoethanolamines (MEA)
- Diethanolamines (DEA)
- Triethanolamines (TEA)
Global Ethanolamines Market - Application Analysis
- Chemical Intermediates
- Gas Treatment
- Textile, Wood Preservatives, and Metalworking Fluids
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