Ethylamine Market

Ethylamine Market Snapshot

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.

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.

Historic (2018 to 2022) Vs Forecast (2023 to 2033) Market Outlook for Global Ethylamine

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.

Market Dynamics

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.

Nikhil Kaitwade

Principal Consultant

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Segment-wise Analysis

Which is the peak selling ethylamine by type?

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.

Which end-use industry has a robust demand for ethylamine?

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.

Region-wise Analysis

How opportunistic is the market for ethylamine across North America?

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.

What are the growth prospects for the Asian ethylamine market?

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.

Market Competition

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:

• In May 2022, Técnicas Reunidas S.A. has been granted an INEOS project management contract for work on the project management, engineering, procurement, and construction management and supervision of Europe's largest ethylene plant. The facility will be built near the Belgian port of Antwerp and will be capable of producing 1.5 million tonnes of steel per year. The plant is scheduled to begin operations in 2026.
• In September 2022, Balaji Amines, a key amines manufacturing company in India, completed phase-1 of its expansion plans. This phase-1 expansion includes a new plant over 90 acres of land.

More insights on these players and their recent developments are available in the report.

Scope of the Report

Key Segments Profiled in the Market

By Thickeners:

• Ethylenediamines (EDA)
• Diethylenetriamines (DETA)
• Triethylenetetramines (TETA)
• Tetraethylenepentamines (TEPA)

By End Use Industry:

• Personal Care
• Pulp and Paper
• Adhesives, Paints, and Resins
• Agro Chemicals
• Automotive
• Pharmaceuticals
• Oil and Gas
• Other End Use Industries

By Region:

• North America
• Latin America
• Western Europe
• Easter Europe
• South Asia and Pacific
• East Asia
• Central Asia
• Russia & Belarus
• Balkan & Baltic Countries
• Middle East and Africa