Growing ethylene amines application demand in end-use industries is projected to positively influence the global market over the next seven years. Increasing usage for products such as resins, papers and adhesives is expected to rise thereby encouraging the overall market growth. Besides industrial benefits, the agriculture and personal care sector is slated to aid the ethylene amines market. Growing population, rise in end-use industry and innovative technology has led to the overall ethylene amines market growth. Newer industry participants have been crucial for the market growth. Initiatives to overcome supply demand imbalance by developing lucrative applications may help in gaining competitive advantage for the new market players. Continuous demand in this market has led to huge technological advancements, which has further grown the ethylene amines market. Wind turbine blade market is expected to grow approximately over 30% annually due to the rise in wind power capacity being used. This is anticipated to bolster the ethylene amines market considerably over the next seven years. Increasing construction spending in emerging countries such as China, India, Brazil and South East Asia is expected to boost the ethylene amines market. Construction is forecasted to grow approximately around 3%-5% annually. Oil extracting activities at oil fields which majorly use ethylene amines for their drilling operation are expected to annually grow over 8%, thereby aiding the ethylene amines market in the near future. Several health issues concerning asthmatic cases during the production of ethylene amines may hamper the ethylene amines market growth. Raw materials used for the production of ethylene amines are expensive. This may also cause major hindrance in ethylene amines commercialization.
Ethylene amines market is extremely vast, having many industrial applications and end-use industries. The overall market is expected to grow at a CAGR of over 5% from 2015 to 2022. Agro-chemicals market which is expected to witness significant growth over the period. Ethylene amines are a major raw material in agro-chemical market. This slated to positively affect the ethylene amines market. Resins are one of the major ethylene amines products. It is also expected to witness substantial industrial growth. Paper industry is also one of the fast growing industries which use ethylene amines as their raw materials. This is also anticipated to bolters the overall market growth. Adhesive industries use ethylene amines on an extremely large scale. Market for adhesive products is expected to grow rapidly over the next seven years. These trends are expected to bolster the ethylene amines market. Pharmaceuticals are anticipated to witness significant growth over the next six years. Growing ethylene amines usage is expected to have positive influence on the market. Market for corrosion inhibitors, epoxy resin, lube oil additives, surfactants, pesticides, and chelating agents is expected to grow over the forecasted period. Surge in demand from major end-use industries such as crop protection products market, wet strength resin market, plastic lubricants market and elastomeric fibres market is slated to have direct impact on the overall ethylene amines market growth.
Asia Pacific region has dominated the ethylene amines market followed by North America and Europe over the last few years. There has been a substantial amplification in the ethylene amines market in countries such as China, Brazil, India and South East Asia and is likely to grow more over the next seven years. Increasing development in the Asia Pacific region owing to vast population in countries such as Vietnam, China, Brazil, Malaysia and India led to the ethylene amines market growth. Stability in the U.S. and European economy stunted the ethylene amines market growth in the developing countries.
Major ethylene amines market participants include The Dow Chemical Company, Tosoh Corporation, Diamines & Chemicals Ltd., Akzo Nobel N.V., Delamine, Huntsman Corporation and BASF S.E.
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