Polyetheramine Market Overview
The polyetheramine market is likely to capture a CAGR of 9% during the forecast period. The market is projected to be valued at US$ 1.53 Bn in 2022 and likely to be valued at US$ 3.62 Bn by 2032.
Polyetheramine Market CAGR (2022-2032)
Polyetheramine Market Value (2022)
US$ 1.53 Bn
Polyetheramine Market Value (2032)
US$ 3.62 Bn
The adoption of polyetheramine is rising due to widely used paints & coating, wind blades, fuel, and lubricants, among others, during the forecast period. In addition, growing eco-friendly and improving construction are driving the polyetheramine market size in recent years. Moreover, growing environmental concerns and expansion in the cement industry are increasing the demand for polyetheramine. On the other hand, the rising adoption of polyetheramine in the wind energy and transportation sector is driving the market growth during the forecast period.
Moreover, the demand for polyetheramine is likely to increase by end-use industries due to its enhanced properties, such as toughness, flexibility, and hydrophilicity, among others. The adoption of polyetheramine is growing in the automotive sector to design lightweight equipment. High resistance and high dielectric strength are growing the polyetheramine market share. The global automotive market is likely to be valued at US$ 18 billion by 2025 due to rising enhancements in the electric vehicle to reduce vehicle weight which is likely to raise the polyetheramine market opportunities.
Based on application, the market is further divided into polyuria, composites, fuel additives, epoxy coating, adhesives, and sealants. The epoxy coating application dominates the market size by contributing the maximum share during the forecast period. It is widely used in fiberglass, and carbon fibers are likely to increase the demand for epoxy coating during the foreseen time. In addition, the epoxy coating helps to seal the concrete surface and prevent moisture, accelerating the adoption of epoxy coating.
Based on geography, Asia-Pacific is anticipated to boost the global market by capturing the highest share during the forecast period. Countries such as India, China, Thailand, and Malaysia are likely to increase the demand for polyetheramine due to the growing construction industry and wind energy in recent years.
Due to the rising wind turbine blades, the key manufacturers are likely to increase the adoption of polyetheramine in the region during the foreseen time. In addition, producing renewable energy in the countries such as China and India is increasing the demand for polyetheramine in wind energy.
The key players are driving the market by capturing the lion’s share and playing a crucial role in the global market during the forecast period. These players are focusing on customer satisfaction and developing new innovative products as per end-users demand. The key vendors are using several marketing strategies to advance the market heights. Some of these marketing methodologies are mergers, product launches, acquisitions, partnerships, and collaborations.
Market Players Enhance the Quality of Polyetheramine to Push Sales
Polyetheramines are typically the curing agents which contain polyether and amine moieties, are majorly used to increase toughness, flexibility, hydrophobicity or hydrophilicity of the end-products. Polyetheramines are used for a range of applications including polyurea, epoxy curing and polyamides in a range of coatings.
Polyetheramines are also used in adhesives, ink resins, elastomers and sealants. The considerable growth in coating industry is anticipated to boost the demand for polyetheramine. Additionally, the substantial growth of elastomers, sealants and adhesives are also expected to increase the demand for polyetheramine during the forecast period.
Thus, the wide array of applications and the following end-user industry is expected to drive the market for polyetheramine. The growth in polyetheramine end-user industries in Asia Pacific region is expected to be the largest region in the polyetheramine market.
Polyetheramines have a moderate glass transition range of 25 to 100O C and are primarily available in colorless liquid form with odor similar to amines. Additionally, polyetheramines have long pot life and find application in hot melt adhesives, engineering composites and sealants.
In addition to adhesives, polyetheramines are also used as fuel additives. Epoxy coatings are also used in composite materials such as fiber glass and carbon fibers. The broad range of properties of polyetheramines is expected to drive the polyetheramine market.
Considering the rising demand for polyetheramines in several end-user industries, in January 2014, Hunstman Corporation announced to increase the global production of polyetheramines by 15 percent.
Polyetheramine Market: Segmentation
Polyetheramine market is segmented on the basis of application and region. Based on application, the market can be segmented into polyuria, composites, fuel additives, epoxy coating, adhesives and sealants and other application.
The epoxy coating application is expected to be the major application segment in the polyetheramine market. Epoxy coatings being exceedingly durable coatings can be used for variety of purposes including adhesives, durable coatings for metals and floors. By region, the polyetheramine market can be segmented into North America, Latin America, Asia Pacific, Western Europe, Eastern Europe, Middle East and Africa and Japan.
Polyetheramine Market: Regional Outlook
Asia Pacific region is expected to be the fastest growing market for polyetheramine during the forecast period. The major reason for the growing demand for polyetheramine is the considerable growth in end-user applications and the respective industries consuming polyetheramines.
The developing Asian countries such as India, China, Malaysia, Indonesia and Thailand are expected to have sizeable growth owing to demand for adhesives, sealants and other major applications of polyetheramines. Growing consumption of polyetheramines from epoxy coatings and from several composite materials is likely to increase the requirement of polyetheramine across the globe.
The other applications of polyetheramines primarily include cement additives, acid neutralization, demulsification in oilfield and other niche applications are expected to drive the demand for polyetheramine. The developed countries such as U.S. and U.K. are progressively recovering from the sluggish economic conditions and boosting the demand for polyetheramines.
Considering the global outlook, the demand for polyetheramine application products is expected to record an outstanding growth during the forecast period.
Polyetheramine Market Key Players
Some of the key players operating in polyetheramine market are Yantai Dasteck Chemicals Co., Ltd., BASF SE, Huntsman Corporation, Clariant, Yantai Minsheng Chemicals Co., Ltd., Yangzhou Chenhua New Materials Co., Ltd, Wuxi Acryl Technology Co., Ltd. and Qingdao IRO Surfactant Co., Ltd.
The report covers exhaustive analysis on
- Polyetheramine Market Segments
- Polyetheramine Market Dynamics
- Historical Actual Market Size, 2012 - 2014
- Polyetheramine Market Size & Forecast 2016 to 2026
- Supply & Demand Value Chain
- Polyetheramine Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
- Polyetheramine Market Drivers and Restraints
Regional analysis for Polyetheramine Market includes
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.