Global Monoethanolamine Market Report and Forecast 2024-2032

Global Monoethanolamine Market Outlook

The global monoethanolamine market attained a volume of 2.04 million metric tons in 2023. The market is expected to grow at a CAGR of 3.4% in the forecast period of 2024-2032 to reach a volume of 2.75 million metric tons by 2032.                 

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Extensive Demand from the Application Sectors to Contribute to the Growth of the Monoethanolamine Industry

The monoethanolamine industry is being aided by the rising demand for the product from its wide application sectors, such as detergents and cleaning. Further, the growing demand from pharmaceutical and cosmetic industries is providing a boost to the market growth. The product finds its use in the cosmetic industry as a pH controller. Moreover, factors such as rising disposable incomes, changing lifestyles, and growing urbanisation are together contributing to the market growth of the product due to the enhanced affordability of such new age products. The market is expected to thrive owing to the rising use of pesticides in agricultural activities. Pesticide includes monoethanolamine in its formulation. As a result, the expansion of agricultural activities supports the growth of the monoethanolamine industry.

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Monoethanolamine: Market Segmentation

Monoethanolamine, variously known as β-Aminoethanol, is an organic compound having characteristics such as being colourless, flammable, and toxic. It produces an ammonia-like odour. The product is widely used in pure form and in the liquid form.

On the basis of application, the market is divided into:

• Detergents
• Personal Care
• Textile
• Wood Preservation
• Agrochemical
• Metal Cutting
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Demand from Textile Industry to Aid the Global Market Growth of Monoethanolamine

The market is driven by the extensive application of monoethanolamine in the chemical industry and detergents and personal care products. Further, the metal cutting applications offered by monoethanolamine are finding great use in the textile industry. The product finds application in textiles in the preparation of softeners and dye auxiliaries due to its hygroscopic property derived principally from alcohols. Monoethanolamine is used in the lubricants to prevent them from corroding due to the presence of acidic additives.

Within the chemical industry, the product is used in the removal of primary contaminant carbon dioxide (Co2) and hydrogen sulphide, popularly known as gas scrubbing or gas sweetening. Further, the demand for the product is rising in the production of laundry detergents as it offers alkaline permissibility, which makes it suitable for cleaning and prevents the deposition of soil or dirt on clothes.

Key Industry Players in the Global Monoethanolamine Market

The report gives a detailed analysis of the following key players in the global monoethanolamine market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Nippon Shokubai Co., Ltd.
• BASF SE
• Dow Chemical Company
• Nouryon
• Saudi Basic Industries Corporation (SABIC)
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report