Future Market Insights analyses the ethylamine market to garner a market size of US$ 2,183.9 million in 2023. The market is projected to grow with a significant CAGR of 4.6% between 2023 and 2033. Increasing demand for resins and adhesives is likely to drive rising demand for Ethylamine in the coming year.
| Attributes | Details |
|---|---|
| Market Size (2022) | US$ 2,087.9 million |
| Market Size 2023 | US$ 2,183.9 million |
| Market Size 2033 | US$ 3,424.2 million |
| Value CAGR (2023 to 2033) | 4.6% |
| Top 3 Countries Share (2023) | 53.1% |
Ethylamine, commonly known as ethanamine, is a chemical compound with the molecular formula CH3CH2NH2. Ethylamine is only found in the atmosphere as a gas. Ethylamine have numerous applications. In end-use industries such as plastics for the production of polyurethane foam and dyes, ethylamine is utilized as a catalyst. It is also utilized in numerous sectors such as the ceramic industry, rubber industry, aviation, and textile industry, among others, for applications such as corrosion inhibitors, fuel tanning, and deflocculating agent.
The growing use of resins, adhesives, and papers is predicted to enhance the demand for ethylamine. Ethylamine will also profit from the development of new manufacturing technologies, which will propel the industry forward.
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During the historical period of 2018 to 2022, the global ethylamine market witnessed a CAGR of 2.9%. The reason behind this slow growth rate is attributed to the impact of the COVID-19 pandemic on the global chemical market, which shrunken the demand and production of chemicals across the globe.
According to the latest evaluation, the ethylamine market is subjected to grow with the increasing end-use industries. The growing use of amines in manufacturing general products and advancement of research and development in this sector is expected to fuel the target market growth in the coming years.
Owing to its importance as a raw ingredient in the production of herbicides such as Atrazine, Cyanazine, and Simazine, the expansion of the ethylamine market is driven by the development of agrochemicals. Farmers around the world rely heavily on amines to achieve higher yields, which has resulted in an increase for ethylamine. This application is acting as a key driver for the market growth over the forecast period.
Ethylamine as a raw ingredient in agrochemicals is bolstering the demand across the world
Ethylamine is being pushed by the agrochemicals sector due to its importance as a raw material in the production of herbicides. Farmers all around the world have begun to rely more heavily on pesticides to enhance yields during the last decade, which has led to a spike in herbicide demand in recent years. The introduction of new technologies into the agricultural industry has increased demand for agricultural products. As a result, ethylamine is being used more frequently to boost agricultural output.
Consumers and health organizations around the world are concerned about food safety and quality. The modern way of life and commercial globalization has increased the demand for higher-quality food. The use of high-grade ethylamine accelerates the improvement of food quality. Food demand will climb by 58% to 98% by 2050, causing the Ethylamine business to expand.
Hazardous nature and volatile prices of ethylamine may hamper the market growth
The hazard of toxicity associated with ethylamine may limit market expansion. Many health issues are anticipated to hamper the expansion of the ethylamine market as a result of asthmatic conditions on the production line. Furthermore, the basic ingredients necessary to make ethylamine are prohibitively expensive. A significant hurdle to the commercialization of ethylamine may also exist.
Because increasing ethylamine can undergo exothermic reactions when exposed to other chemicals, this molecule should be treated with caution during market manufacture. All of these problems are threatening the market growth of ethylamine.
Principal Consultant
Ethylenediamines dominates the sales by type
The ethylenediamines market is estimated to grow at a CAGR of 4.2% during the forecast period. Ethylenediamines has gained importance in a range of industrial applications in recent years, including, ethylene urea resins, chelating agents, ion exchange resins, corrosion inhibitors, oil additives, adhesives, surface-active agents, and rubber chemicals.
Ethylenediamines is further employed as an intermediate in the synthesis of tetraacetyl ethylenediamines (TAED), which is used as a bleaching activator in laundry detergents and additives. The pharmaceutical industry relies heavily on ethylenediamines as a component.
The chemical is used to make aminophylline, a bronchodilator used in the treatment of respiratory problems and other chronic lung ailments. As a result of rising demand from numerous applications, ethylenediamines demand is predicted to rise significantly throughout the forecast period.
Ethylamine to experience robust demand from agrochemical industries during assessment period
The market is divided into personal care, pulp & paper, adhesives, paints, & resins, agricultural chemicals, automotive, pharmaceutical, oil and gas, and other end-use industries. During the projection period, the agrochemicals market is expected to expand rapidly at a CAGR of 4.1%.
Since ethylamine are utilized in the production of a variety of crop protection products, the expansion of the global agrochemicals sector will provide significant assistance to the global ethylamine industry. The ethylamine business uses ethylamine to make a variety of crop protection products, and it is expected to benefit from the agrochemical sector's continuous growth.
North America will benefit from easy access to a strong petrochemical market in coming years
Ethylamine are widely used in a variety of industries in North America. Because of the expanding need for petrochemicals in North America, ethylamine are projected to see increased market activity. During the projected period, the ethylamine market in the United States is expected to develop at a CAGR of 4.4%. The petrochemical sector is predicted to grow steadily as the export market expands. During the forecast period, the market for ethylamine in the United States is expected to increase at a revenue rate of US$ 1.0 billion.
Booming demand for automotive components to drive growth
During the forecast period, the Asia-Pacific region is expected to witness the fastest growth in vehicle sales. This will bring lucrative opportunities for the ethylamine market in the region. Ethylamine is used in the manufacturing of a variety of automotive components and coatings. The demand for ethylamine in the automotive industry of the Asia-Pacific region is expected to have a quicker expansion in nations such as China, India, Japan, and South Korea due to steady economic growth.
The markets for China, Japan, and South Korea are predicted to rise at CAGRs of 4.0%, 3.8%, and 3.5%, respectively in the next ten years. China, one of the key countries in this region generating Ethylamine, accounts for the majority of market demand. Ethylamine are used in a variety of industries in China, including personal care, textiles, adhesives, paints, and automobiles.
Japan's demand for ethylamine is predicted to rise as a result of new automobile rules and legislation. As a result, the demand for ethylamine is predicted to rise due to their use as a fuel additive in this region. As lubricants and paints become more common in the automotive industry, market demand for Ethylamine will rise. Because of rising disposable incomes, the region's demand for passenger and commercial cars has increased, increasing the likelihood of these items being utilized as additives. The ethylamine market in this region is predicted to rise owing to increasing usage of chelating agents in water treatment industry.
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The market participants in the global ethylamine market are focusing on their expansion of production facilities as well as strategic collaborations and acquisitions in emerging markets to increase their regional footprints. These players are also emphasizing new technology development, research, and developments to broaden their product portfolio. A few of the recent developments in the market are listed below:
More insights on these players and their recent developments are available in the report.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.6% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Tons, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, End Use Industry, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Russia and Belarus; Central Asia; Balkan and Baltic countries; East Asia; South Asia and Pacific; Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Argentina, Germany, United kingdom, France, Italy, Spain, BENELUX, NORDICS, Russia, Belarus, Hungary, Poland, Romania, Czech Republic, Central Asia, Balkan and Baltic countries, China, Japan, India, ASEAN, Australia and New Zealand, Kingdom of Saudi Arabia, UAE, Türkiye, Northern Africa, Israel, South Africa |
| Key Companies Profiled | Arabian Amines Company; BASF SE; Delamines BV; Diamines and Chemicals Ltd.; Dow; Fisher Chemical; Huntsman International LLC; Nouryon; Oriental Union Chemical Corporation; Sadara Chemical Company; Saudi Basic Industries Corporation (SABIC); Tosoh Corporation |
| Customization and Pricing | Available upon Request |
In 2022, the value of the global ethylamine market reached over US$ 2,087.9 million.
In 2023, the value of the global ethylamine market reached over US$ 2,183.9 million.
During the forecast period, the global ethylamine market is estimated to expand at a CAGR of 4.6% during 2023 to 2033.
The global ethylamine market is projected to reach US$ 3,424.2 million by the end of 2033.
The USA is projected to lead the global ethylamine market in the forecast period.
The market for agrochemical ethylamine is expected to grow by nearly with CAGR of 4.9% by 2033.
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Ethylamine Market
