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Global Ethanolamines Market to Exhibit 4.10% CAGR 2016-2024 thanks to Growing Demand for Gas Sweetening Agents

Press release Description

Albany, New York, September 28, 2016: Market Research Reports Search Engine (MRRSE) has recently announced the inclusion of a new market intelligence report to its vast repository of research studies. The 191-page research report, titled “Ethanolamines Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016-2024,” provides a thorough analysis, emphasizing on the potential growth opportunities and latest trends in the market. The report has made extensive use of analytical tools to determine the key growth prospects and challenges in the global ethanolamines market

As per the research study, in 2015, the global ethanolamines market was worth US$2.8 bn and is anticipated to reach a value of US$4 bn by the end of 2024, exhibiting a 4.10% CAGR between 2016 and 2024. The rise in the production of glyphosate and the promising growth of ethanolamines in the surfactants market are the primary factors driving the global ethanolamines market. In addition, the rising demand for gas sweetening agent is projected to create potential opportunities for the key market players throughout the forecast period. On the flip side, volatility in raw material prices is expected to curtail the growth of the global ethanolamines market.

The global ethanolamines market has been classified on the basis of product type into triethanolamines (TEA), monoethanolamines (MEA), and diethanolamines (DEA). Furthermore, on the basis of application, the market has been categorized into gas treatment, metalworking fluids, herbicides, surfactants, chemical intermediates, cement, textile, and wood preservatives. Advancements in this area are expected to expand the application base, thus fuelling the growth of the global market. The research study has highlighted the demand, supply, and consumption of each segment in the global ethanolamines market.

Among the key geographical segments, Asia Pacific is expected to witness robust growth throughout the forecast period, thanks to the rising demand from several end use industries in India and China. The other key segment, including Europe and North America are also expected to witness significant growth in the coming years. The expected growth rate, demand, and market share of each region have been discussed in the scope of the research report.

The key players in the market are focusing on research and development activities and innovations to increase their market penetration and sustain in the overall market. Additionally, the rising number of mergers and acquisitions, collaborations, partnerships, and joint ventures is projected to contribute extensively towards the growth of the ethanolamines market across the globe.

The global ethanolamines market is highly fragmented in nature with the presence of a large number of companies operating in it. Huntsman Corporation, China Petroleum & Chemical Corporation, LyondellBasell Industries N.V., Jiaxing Jinyan Chemical Co. Ltd., BASF-YPC Company Limited, SABIC, Akzo Nobel N.V., NEOS Group Ltd., Sintez OKA LLC, Thai Ethanolamines Co. Ltd., The Dow Chemical Company, and are some of the leading players operating in the global ethanolamines market.

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