September 14, 2022 13:07 ET | Source: Facts & Factors Facts & Factors
NEW YORK, United States, Sept. 14, 2022 (GLOBE NEWSWIRE) -- According toFacts and Factors has published a new research report titled “Ethyleneamines Market Size, Share, Growth Analysis Report By Type (Ethylenediamine and Heavy Ethyleneamines), By Industry Vertical (Personal Care, Pulp & Paper, Adhesives, Paints & Coatings, Agro Chemicals, Automotive, Pharmaceutical, Oil & Gas, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Ethyleneamines Market size & share in terms of revenue was valued at USD 1.8 billion in 2021 and it is expected to surpass around USD 2.5 billion by 2028, growing at a compound annual growth rate (CAGR) of approximately 5.1% during the forecast period 2022 to 2028.”
Ethyleneamines are organic substances composed of ethylene and amine groups. The amine groups are used to connect the ethylene. These amine compounds typically have a fishy amine smell, are colorless, and have low viscosity. Either monethanolamine or ethylene dichloride reacts with ammonia to create ethyleneamines. Ethyleneamines are employed in epoxy resin as a curing agent and as chemical building blocks.
Ethyleneamines can be used to change the characteristics of a wide range of chemical products. This comprises properties like softness, hardness, flexibility, adhesive properties, and others, leading to its application in the production of goods like cosmetics, medications, adhesives, detergents, and others. In addition to these, ethylenediamine is a crucial raw ingredient in the agrochemicals sector.
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The demand for ethyleneamines is anticipated to be driven by the overall increase in the usage of chemicals in the manufacturing of a variety of common products.
Among the factors that may the global ethyleneamines impede market expansion over the projection period are the high cost of raw materials and strict laws and regulations addressing environmental concerns. However, over the projection period, manufacturers' increased attention to merger and acquisition operations of regional companies to meet rising product demand is anticipated to generate a lucrative potential for market expansion.
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Ethyleneamines Market: COVID-19 Impact Analysis
Because of its reliance on the textile, automotive, and chemical industries, the market for ethyleneamines experienced unfavourable effects as a result of the COVID-19 epidemic. According to the International Organization of Motor Vehicle Manufacturers, the COVID-19 pandemic had a significant impact on the global auto manufacturing industry in 2020, resulting in a 16% decrease in output due to lockdowns and factory closures. This decline in production was caused by the pandemic. The potential for infections to spread among workers in areas where ethyleneamines are used to produce lubricants has resulted in the cessation of operations or a significant reduction in those activities at a number of vehicle businesses. During the COVID-19 time period, it caused the demand for ethyleneamines to drop for a short time.
The global ethyleneamines market is segmented based on type, industry vertical, and region.
The global market is divided into ethylenediamine and heavy ethyleneamines based on type. Due to the rising demand for ethylenediamine across a range of end-use industries, such as chelating agents, corrosion inhibitors, ethylene urea resins, ion exchange resins, thermoplastic resin lubricants, petroleum additives, polyamide resins, rubber chemicals, surface-active agents, and more, this trend is anticipated to continue over the forecast period. It is a single component that is transparent and colorless, and it has the lowest molecular weight of any ethyleneamine yet synthesized. Moreover, tetra acetyl ethylenediamine (TAED), a bleaching activator used in detergents and additives for dishwashing and laundry, is made using ethylenediamine as an intermediary in the process. As a result, it is anticipated that the increased demand from diverse applications will cause ethylenediamine demand to expand significantly throughout the projected period.
The ethyleneamines market is segmented into personal care, pulp & paper, adhesives, paints & coatings, agrochemicals, automotive, pharmaceutical, oil & gas, and others based on the industry vertical. During the forecasted period, adhesives, paints, and coatings are expected to expand significantly. Ethyleneamines are increasingly in demand as a result of the development of epoxy resins in the paint, coatings, and adhesives sectors. Ethylene amines are used to create epoxy resins, which are crucial to the paint and adhesives industries. It prevents steel and marine structure corrosion in the coated zone. In the adhesive area, it may adhere to a wide range of materials, including metal, wood, glass, and plastic. These resins are also present in the field of composite materials and are among the most important engineering resins for automobiles, aircraft, and wind turbine blades. After drying, the epoxy resin functions as expected. The use of ethylene amine is necessary for this step. Therefore, it is expected that the ethyleneamines market will experience growth throughout the projected period due to the high demand for ethyleneamines used to make epoxy resins.
The global Ethyleneamines market is segmented as follows:
Browse the full “Ethyleneamines Market Size, Share, Growth Analysis Report By Type (Ethylenediamine and Heavy Ethyleneamines), By Industry Vertical (Personal Care, Pulp & Paper, Adhesives, Paints & Coatings, Agro Chemicals, Automotive, Pharmaceutical, Oil & Gas, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/ethyleneamines-market
The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. Some of the main competitors dominating the global Ethyleneamines market include -
Key Insights from Primary Research:
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In terms of revenue, the ethyleneamines market in the Asia Pacific contributes a significant portion and is anticipated to rule the global market during the forecast period. The Asia Pacific ethyleneamines market is expected to increase over the forecast period as a result of rising demand for ethyleneamines in a wide range of industries including resin, agrochemicals, and pharmaceuticals in the region. In addition, the Asia Pacific ethyleneamines market is anticipated to experience revenue growth as a result of the increasing industrialization and expanding population in developing nations like China, India, and Indonesia.
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