The triethylenediamine market size is anticipated to rise at a CAGR of 6.5% from 2022 to 2032, from a value of US$ 187.44 Mn in 2022 to US$ 351.85 Mn by 2032.
Some of the factors boosting the sales of triethylenediamine are:
| Attributes | Details |
|---|---|
| Triethylenediamine Market Value (2022) | US$ 187.44 Million |
| Triethylenediamine Market Forecast Value (2032) | US$ 351.85 Million |
| Triethylenediamine Market CAGR (2022 to 2032) | 6.5% |
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Since they are used in many different applications, such as insulation sheets for refrigerators, bed and pillow fillings, seals, and gaskets, polyurethane foams do not absorb moisture and also serve as a thermal insulator.
About 56 percent of the energy used in U.S. homes annually, according to the U.S. Department of Energy, is used for heating and cooling. Builders favor polyurethane foams that may be used in roofs, walls, and windows for insulation and air barrier sealants to maintain a constant temperature and reduce noise levels. According to research, the global production of construction would increase by 85% to $15.5 trillion by 2030.
"The market is likely to witness growth due to the growing preference for organic fornicating agents over metallic ones, such as polyurethane and diethylenetriamine."
Polyurethane foam is perfect for cushioning because of its firmness and durability, but it's also great within car bodywork as it insulates against heat and noise from the engine. By making cars lighter, polyurethane foams reduce the environmental effect of transportation. This increases fuel economy while reducing emissions.
According to the International Energy Agency (IEA), the number of electric cars on the road has increased significantly over the past ten years. In 2021, there were more than 15 million electric passenger cars on the road worldwide, a 63% increase from the previous year.
Due to this growth in EV, more polyurethane foam is used for headrests, seats, armrests, and other purposes, which significantly increases the demand for triethylenediamine in polyurethane formulation.
The sales of triethylenediamine are growing as a result of the growing usage of flexible polyurethane foams as padding in a range of consumer and industrial items, including furniture, beds, pillows, carpets, and mattresses. Furthermore, the demand for triethylenediamine is rising since flexible polyurethane foams are being used in the textile and fiber sectors to create purses, life rafts, and tents.
In the oil and gas sector, managing temperature and corrosion is a significant concern. The ideal environment for corrosion is one with water, acids, acidic gases, high oxygen levels, and brine. Corrosion inhibitors, which are utilized in the oil and gas sectors, are made from triethylenediamines. The adoption of triethylenediamine as an ingredient in rigid polyurethane foam for pipe insulation also contributes to the market's expansion.
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Triethylenediamine market is witnessing significant growth due to its highly reactive catalytic property. Its tendency to copolymerize with various donor monomer makes it highly reactive in nature. Triethylenediamine are low density, relatively high tensile strength, and low compression set chemical.
It finds its application in most polyurethane applications ranging from apparel, appliances, automotive, building and construction to electronics, medical and furnishing industries.
The triethylenediamine market is expected to grow significantly during the forecast period, primarily due to demand for end care products among consumers such as apparel, appliance and electronics. This is expected to be primarily driven by construction sector.
Though the market seems optimistic in coming years, shifting trends towards green chemicals along with stringent regulatory procedures in some of the key nations can led to some negative impact on this industry. However, this billion dollar industry is expected to witness upward trend during the forecast period 2015-2025.
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Triethylenediamine market is broadly classified on the basis of end use industries. Polyurethane application in various end-use industries has offered good momentum to overall growth of triethylenediamine market. Growth of automobile and construction sector are two most important end-use applications of polyurethane.
Together, they contribute more than 50% of overall market of polyurethane applications, which in turn is expected to boost the demand for triethylenediamine globally. Rise in urbanization is one of the key factor driving the construction market globally.
Other important applications where polyurethane finds its applications are electronics and communication and textile industries. On the basis of product, polyurethane is widely segmented as rigid foam, flexible foam, coatings, adhesives & sealants. Rigid foams is one such product where triethylenediamine is widely used as a catalytic product.
Most of the demands for triethylenediamine is expected to generate from Asia Pacific followed by developed economics such as Europe and North America. Most of the demands in Asia Pacific is expected to generate from China and India.
These two potential markets are well equipped with automotive and electronics segment. Also, these two countries are expecting surge in construction related activity. Government friendly policies towards FDI is another major factor behind the surge in demand for these applications.
This is expected to offer significant thrust to overall growth of triethylenediamine market in Asia Pacific. North America and Europe are two other prospective market for triethylenediamine, however, is going to lose significant market share during the forecast period, 2015-2025. Sluggish growth in construction and automotive sector is the prime factor behind the slowdown of triethylenediamine demand in developed economies.
Some of the key market players in triethylenediamine market are Air Products & Chemicals Inc., Eastman Chemical Company, BASF SE, Jiangxi Donggxu Chemical Co., Ltd. Tianjin Zhongxin Chemtech Co., Ltd., Shanghai GAOXIANG Chemical Co., Ltd., etc.
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