Top 5 Companies Relied Upon in the Global Monoethanolamine Market

The global monoethanolamine market is expected to grow at a CAGR of 3.5% in the forecast period of 2022-2027. As per the analysis by Expert Market Research, the market is expected to be driven by the rising demand for the product in cosmetic and personal care products as pH controller, and as a cleaning agent in detergents and cleaners.

The rising popularity of using monoethanolamine in industries ranging from chemical to personal care, pharmaceutical textiles and agrochemicals, is driving the market growth of monoethanolamine. Rising disposable incomes along with changing lifestyles, and growing urbanisation are factors enhancing the detergent and cosmetic industries, which in turn is augmenting the demand for monoethanolamine. Further, rising applications of the product in the textile industry for the preparation of softeners and dye auxiliaries are additional factors shaping the growth of the market.

In April 2021, Nippon Shokubai Co., Ltd. (NPSHY) confirmed that the functional polymer developed by the company has antiviral properties against the novel coronavirus. The product is expected to be used in cosmetic care products to gently moisturise and protect the skin and hair from different kinds of bacteria and viruses. The functional polymer designed by Nippon Shokubai comprises of a combination of hydrophilic and hydrophilic monomers. The growing demand for antibacterial personal care products, coupled with the rising standards of living, is expected to boost the market growth of monoethanolamine in the coming years.

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Top 5 Monoethanolamine Market Companies in the World:

Nippon Shokubai Co., Ltd.

Nippon Shokubai Co., Ltd. is a Japan-based company involved in the manufacture and sales of basic and fine chemicals, catalysts, and synthetic resins. The company’s portfolio comprises of ethylyne oxide, super absorbent polymers, acrylic acid, process catalyst, and automobile catalysts, among others. Nippon Shokubai has overseas production centres in the United States, Belgium, Singapore, Indonesia, China, Korea, and Taiwan. In 2021, the company had 4,555 consolidated employees.

BASF SE

BASF is a multinational chemical company headquartered in Germany, and is among the largest chemical producers around the globe. The BASF Group has multiple subsidiaries and joint ventures spanning across more than 80 countries and operations through six integrated production sites along with 390 additional production sites in Asia, Europe, Australia, the Americas and Africa. There are six segments in the product portfolio of BASF: industrial solutions, chemicals, materials, nutrition and care, surface technologies, and agricultural solutions. With an employee base of around 1,11,000, BASF recorded a revenue of EUR 78.6 billion in 2021.

Dow Chemical Company

The Dow Chemical Company (TDCC) is a multinational chemical corporation based out of the United States. One of the largest chemical producers in the world, Dow is engaged in the production of plastics, chemicals, and agricultural products. Dow’s product portfolio includes processing aids, additives, lubricants for crust treatment, finishing solutions, as well as acrylic and silicone finishing coats. The company has a global presence in nearly 160 countries, with an employee count of nearly 54,000.

Nouryon

Nouryon manufactures a variety of daily-use products, including agriculture and food, personal care, paints and coatings, cleaning goods, pharmaceuticals, and building products. It operates in over 80 countries worldwide and has about 7900 employees. Its product portfolio includes cellulosic, organic peroxides, surfactants, bleaching chemicals, and expandable microspheres. Eka, Dissolving, Trigonox, and Berol are among the leading brands of Nouryon.

Saudi Basic Industries Corporation (SABIC)

Saudi Basic Industries Corporation is a multinational chemical manufacturing organisation and the state-owned subsidiary of the Saudi Aramco petroleum and natural gas company. The primary business of the company includes petrochemicals, chemicals, industrial polymers, fertilisers, and metals. The company has operations in over 50 countries with a global workforce of over 32,000.