As per a new report published by Fact.MR, the Sales of triethanolamine is forecast to exceed a valuation of US$ 1.7 Bn in 2031, expanding at a CAGR of close to 5% through the same period.
The emulsification property of triethanolamine (TEA) makes it useful in several industrial applications such as gas treating and chemical manufacturing. For the removal of contaminants from gasoline, triethanolamine along with DEA and MEA in gas treating process is highly recommended.
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Additionally, demand for triethanolamine as a chemical intermediate has shown drastic growth over the past half-decade. Triethanolamine is used in agrochemicals to make pesticides, where it works as a dissolvent and increases the ability of the pesticide to dissolve easily in water.
In wax production and polish & coating products, triethanolamine works as an admixture to mix ingredients and protect other materials from corrosion. In chemical manufacturing plants, triethanolamine is most used for the removal of carbon dioxide from ammonia gas for synthetic ammonia production.
Key Takeaways from Market Study
- East Asia accounts for the most consumption of triethanolamine, with an absolute $ opportunity worth US$ 288 Mn predicted by 2031.
- Followed by East Asia, South Asia & Oceania is anticipated to garner a dollar opportunity of US$ 120 Mn over the long-run forecast period.
- On the basis of purity level, 99% purity grade triethanolamine dominates the market. In terms of volume, 99% purity grade is expected to register a CAGR of 4.5% over the forecast period, and gain around 144 BPS in market share.
- Commercial grade triethanolamine is projected to create an absolute $ opportunity of US$ 616 Mn during forecast period of 2021 to 2031.
- Textile finishing applications are projected to grow 1.5X in value over the next ten years.
- Concrete admixture applications are projected to grow 1.7X in value during the forecast period of 2021-2031.
- The Middle East & Africa and Latin America together hold a minute market share.
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“Diversified portfolio of triethanolamine has reduced market risk multi- fold over the past half-decade,”says a Fact.MR analyst.
Key Market Segments Covered
- By Purity Level
- 99% Triethanolamine
- 98% Triethanolamine
- 85% Triethanolamine
- By Grade
- Triethanolamine for Research Purposes
- Triethanolamine for Commercial Purposes
- By Function
- Triethanolamine as Additives
- Triethanolamine as Intermediates
- Triethanolamine as Surfactants
- Triethanolamine as Corrosion inhibitors
- Triethanolamine as Neutralizers
- Triethanolamine as Softening Agents
- By Application
- Triethanolamine for Detergent Manufacturing
- Triethanolamine for Personal Care & Cosmetics
- Shaving Creams
- Cosmetic Creams
- Sun care products
- Triethanolamine for Textile Finishing
- Triethanolamine for Concrete Admixtures
- Triethanolamine for Agricultural Chemicals
- Triethanolamine for Photographic Emulsions
- Triethanolamine for Engineering/ Metal-working Fluids
- Triethanolamine for Rubber & PU Foams
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- By Region
- North America
- Latin America
- East Asia
- South Asia & Oceania
The market is highly consolidated and manufacturers are trying to maintain their long-run dominance in the market. Key manufacturers are constantly involved in developing new product lines to enter new application areas. Moreover, their thirst for market dominance is high owing to a rapidly growing market with higher potential.
- Huntsman Corporation
- INEOS Oxide
- Jiahua Chemicals Inc.
- Nippon Shokubai
- Oriental union chemical Corporation
- PCC Group
- Sintez OKA Group of Companies
- The Dow Chemical Company
- San Fu Chemical CO. LTD.
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the triethanolamine market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of purity level (99%, 85%, and 98%), grade (research and commercial), function (additives, intermediates, surfactants, corrosion inhibitors, neutralizers, softening agents, and others), and application (detergent manufacturing, personal care & cosmetics [shampoos, shaving creams, cosmetic creams, lotions, sun care products, and others], textile finishing, concrete admixtures, agricultural chemicals, photographic emulsions, engineering/ metal-working fluids, rubber & PU foams), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia Oceania, and MEA).
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Veracity Reporter journalist was involved in the writing and production of this article.