Technavio market research analysts forecast the global ethanolamines (ETAs) market to grow at a CAGR of more than 4% during the forecast period, according to their latest report.
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Technavio has published a new market research report on the global ethanolamines market 2017-2021 under their chemicals and materials library. (Graphic: Business Wire)
The report further segments the global ethanolamines market by product (DEAs, TEAs, and MEAs) and by geography (the Americas, APAC, and EMEA).
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global ethanolamines market:
- Growth of the global glyphosate market
- Burgeoning demand from the cosmetics and personal care industry
- Growth of the construction industry
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Growth of the global glyphosate market
Global increase in the production of herbicides, is fueling the growth of the global ETAs market. One of the largest consumed herbicide types, glyphosate, has led to the growth of the global ETAs market owing to the increased use of ETAs, particularly DEA, in the production of herbicides. When ETAs are added, it improves the quality of glyphosate and simultaneously enhances its effect in agricultural applications.
According to Kshama Upadhyay, a lead analyst at Technavio for specialty chemicals research, "In terms of application, oilseeds, pulses, and crops such as groundnut, green gram, mustard, red gram, black gram, soybeans, and gingelly accounted for the highest share. Regions such as South America and APAC are viable markets for the global glyphosate market. The growth of the global herbicides market drives the demand for ETAs and strengthens the global ETAs market."
Burgeoning demand from the cosmetics and personal care industry
The demand for ETAs from applications in the cosmetics and personal care industry drives the global ETAs market. Mostly, TEA is preferred in cosmetic products such as mascara, eyeshadow, fragrance, concealer, and foundation, thereby strengthening the global ETA market. It is also included in hair care products such as wave sets and hair dyes. TEA is a common ingredient in shaving gels and creams and in sunscreens. TEA is also employed as an emulsifier to assist the retention of a relatively more homogenous appearance of products and to spread creams evenly over the skin.
The global construction industry is driving the growth for the global ETAs market. The addition of TEAs helps in enhancing the quality of cement. It has also been noted that the inclusion of TEA accelerates the hydration of tricalcium aluminate in Portland cement, thereby promoting the release rate of hydration heat.
"The growth in the global production of cement is fueled by increasing construction activities in countries such as India and China. After China, the Indian cement industry is the largest in the global cement production. Due to an upsurge in infrastructural development, China dominates the global cement industry. Therefore, the robust growth of the cement industry will drive the growth of the global ETAs market during the forecast period," says Kshama.
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