Ethyleneamines Market may exceed USD 3 billion by 2024; according to a new research report. Extensive product usage in oil mining activities at oil fields owing to its feature of preventing corrosion on drilling equipment is likely to drive product demand. Ethyleneamine derivatives have application in oil & gas refining and production operations as demulsifiers, functional additives, corrosion inhibitors and neutralizers. Heavy product usage as antioxidant to control fouling in refining operation may foster ethyleneamines market in projected timeframe.
Increasing usage in papers, adhesives and resins owing to its properties to make product soft, flexible along with improving adhesion will boost ethyleneamines market. Growing consumer consciousness pertaining to hygiene and cleanliness has led to escalated product demand as surfactants in detergent products may act as another contributing factor towards industry growth.
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China ethylenediamine (EDA) market from pesticide application is anticipated to surpass USD 45 million by 2024. These products are used as fungicides for preventing of mildew, blight., rust and scab. Growing agro chemical market mainly in India and China owing to ensure crop safety and ensuring continuous supply of high-quality crop yield is likely to boost ethyleneamines market in projected timeline.
Rising investments to manufacture innovative products which are ecofriendly in nature with upgraded properties supported by technological advancements in manufacturing techniques will propel product demand. Presence of various manufacturers engaged in capacity expansion and collaboration mainly in Asia Pacific in order to cater rising product demand may further stimulate ethyleneamines market in forecast timeframe.
Ethyleneamines are used in production of weak-base ion exchange resins which are used in industrial processing and water treatment applications, thereby driving product demand. Growing need for water treatment globally owing to strict regulation pertaining to water safety is likely to propel ethyleneamines market.
U.S. diethylenetriamine (DETA) industry from lube and fuel additives applications may witness gains of 4% by 2024. These products are used in fuel additives which control deposits in fuel system. DETA has found substantial commercial usage as dispersant detergent additive in gasoline, thus driving product demand in forecast timeframe.
UK tetraethylenepentamine (TEPA) market from epoxy curing agent application is poised to witness gains of over 3% by 2024. These products find application in curing epoxy resin-based castings, laminates, coatings, grouts and adhesives. Growing paints & coatings market in the region owing to high demand from aerospace, automotive, construction and marine sector is likely to stimulate ethyleneamines market in the projected timeframe.
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Italy triethylenetetramine (TETA) market from polyamide resin application is poised to surpass USD 5 million up to 2024, owing to its usage as resins which finds applications in binders in production of inks. Growing usage of these inks in food & beverage packaging is likely to foster ethyleneamines regional market growth. Thermoplastic polyamides resins are produced using TETA and find application as abrasion-resistant, formulating gloss and overprint varnishes, thus further propelling product demand.
Complex handling and storing conditions may hamper industry profitability which may incur additional cost to ensure proper storage conditions affecting ethyleneamines market price trends. However, growing acceptance of ethyleneamines derivatives in pharmaceutical sector for producing muscle relaxant, antimalarials, antihistamines, local anesthetics, antibiotics and antidepressants may drive product demand by 2024.
Global ethyleneamines market share is moderately consolidated among participants including Tosoh Corporation, The Dow Chemical Company, Huntsman Corporation, BASF SE, Delamine B.V, Akzo Nobel N.V and Diamines & Chemicals Limited.
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