Monoethanolamine Market With Top 20 Countries data Analysis And In-Depth Research On Market Dynamics, Trends, Emerging Growth Factors And Forecasts To 2030

Market Overview

Monoethanolamine is an organic chemical compound and also referred to as ethanolamine. It is widely used across corrosion inhibitors, pharmaceuticals, textile auxiliaries, cosmetics and wood chemicals, and scrubbing acidic gases (H2S, CO2). This colorless, viscous liquid is a first-generation monoethanolamine with the antihistaminic property. It is available in different grades such as low freeze grade and iron and chloride free, as well as gas treating grades. Moreover, it is a water-soluble and biodegradable compound.

Market Dynamics

Rising application of monoethanolamine across corrosion inhibitors, pharmaceuticals, textile auxiliaries, cosmetics, and wood chemicals, scrubbing acidic gases (H2S, CO2) is the prime factor fueling the market growth. The Environmental Protection Agency (EPA) classifies monoethanolamine as a specialized industrial chemical. Moreover, it is also used to remove CO2 and H2S from natural gas and other gases and is also used as a pharmaceutical adjuvant and solvent for many fats and oils. Furthermore, it is also used in the production of soaps in the formulations of various types of emulsion such as lotions and creams. Hence, the rising demand for monoethanolamine from various end-use industries is projected to propel the market growth.

On the other hand, the availability of other amines as a substitute to monoethanolamine is projected to hinder the market growth. Moreover, monoethanolamine also has side-effects such as irritation of the eyes and nose, injury to mouth, throat, digestive tract, skin, and eyes, this factor is also expected to hamper the market growth.

Use of monoethanolamine in carbon capture and storage (CCS) is expected to offer lucrative growth opportunities for market players

Market Outlook

Based on the region, the global monoethanolamine market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East. The market in Europe is projected to experience significant growth, on the account of growing personal care industry as monoethanolamine is used to neutralize fatty acids that find application as emulsifiers for oil-in water emulsions such as aerosol shave creams, geltype industrial hand cleaners, and hand and body lotions. In addition to this, North America is projected to witness significant market share, and this can be attributed to the rising demand for monoethanolamine from the textile industry. MEA is used as reaction intermediates for the preparation of durable press fabric finishes and softeners.

Key Players

Major players operating in the monoethanolamine market include BASF, Dow Chemical Company, GaoQiao Petrochemical Corporation, Ineos Oxide, Equistar, Akzo Nobel, Nippon Shokubhai, Helm AG, Sasol, Huntsman, Jiaxing Jinyan Chemical Co., Mitsui Chemicals, Amines &Plasticizers Ltd. (APL), and Fushun Huafeng.