Ocean View, DE -- (SBWire) -- 06/23/2020 --Ethylenediamine has garnered considerable traction as a chemical intermediate and ethylenediamine market demand is expected to achieve gains at a CAGR of over 4% during 2018-2024. The highly versatile and reactive ethyleneamines derivative is exploited in the manufacturing of different polymers on account of its lowest molecular weight as compared to derivatives of the ethyleneamines family, which further induces market demand. In addition, agrochemicals being a prominent application of the product, ethylenediamine business volume is likely to gain from expanding agrochemical industry in the agrarian countries such as China and India. As per estimates, China ethylenediamine market volume is anticipated to cross USD 45 million by 2024.
Global ethyleneamines market share is estimated to surpass USD 3 billion by 2024. Ethyleneamines industry size is likely to gain from rising investment by manufacturers towards the development of better and eco-friendly grades of the product, which accompanied by technological progress in manufacturing techniques has opened new potential growth avenues for the market. The product has been gaining substantial acceptance within the cosmetic industry in recent years, where consumer demand for natural, organic ingredients are boosting business share. Furthermore, ethyleneamines derivatives are gradually gaining grounds in the pharmaceutical industry, where they used in formulating muscle relaxants, antidepressants, antimalarials, local anesthetics, antihistamines, and antibiotics.
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Top Companies
1. Tosoh Corporation
2. Akzo Nobel
3. Huntsman Corporation
4. Dow Chemical Company
5. BASF SE
6. Aminat
7. Diamines and Chemicals Limited
8. Delamine B.V.
9. Parsol Chemicals
10. Saanvi Corp
11. Lanxess
12. Gem Chemicals
Regional Growth Drivers are
- North America: Growing medical equipment market in the region owing to extensive presence of hospitals and public health institutions.
- Europe: Growing fuel additive and surfactant market will drive product demand.
- Asia Pacific: Growing agrochemical and pesticides market in the region.
The product finds prominent usage in detergents & cleaning agents. Surging consumer awareness regarding cleanliness and hygiene is propelling ethyleneamines market trends. Other routine applications include utilization in the production of agrochemicals, corrosion inhibitors, demulsifies, and in water treatment applications.
With applicability across a variety of industrial use cases, global ethyleneamines market is treading forward on an upward growth trajectory. Derivatives of the product such as ethylenediamines, diethylenetriamine, triethylenetetramine, tetraethylenepentamine, and others are used in a plethora of applications, which is favoring ethyleneamines business outlook.
Diethylenetriamine has strong footprint in cosmetics, corrosion inhibitors, lube and fuel additives, polyamide resin, and others, which are contributing to diethylenetriamine business share significantly. Application in polyamide resin holds a major prominence and diethylenetriamine industry size from polyamide resin applications is expected to exceed USD 40 million by 2024. France and the US are major diethylenetriamine markets. As per estimates, France diethylenetriamine business share is anticipated to exceed USD 20 million.
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Applications in oil industry has provided strong growth potentials for ethyleneamines market, in large part as a result of accelerated oil & gas refining and production operations on a global scale. The industry uses the product as corrosion inhibitors, neutralizers, demulsifier, functional additives, and for other purposes. Also, usage as an antioxidant to control fouling in refining operation is among the profound applications of the product, which is slated to foster ethyleneamines industry trends.
Ethyleneamines industry demand is likely to remain highly stable through 2024 on account of towering applications in water treatment and industrial processing. They are used to produce weak-base ion exchange resins used in water treatment. Increasing severity of regulations pertaining to water safety is generating massive water treatment demand, which will impact ethyleneamines industry trends positively.
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Ethyleneamines Market 2024: Tosoh Corporation, Akzo Nobel, Huntsman Corporation, Dow Chemical Company, BASF SE, Aminat, Diamines and Chemicals Limited, Delamine B.V., Par
Global ethyleneamines market share is estimated to surpass USD 3 billion by 2024. Ethyleneamines industry size is likely to gain from rising investment by manufacturers towards the development of better and eco-friendly grades of the product, which accompanied by technological progress in manufacturing techniques has opened new potential growth avenues for the market.