Ethanolamines Market Size

Ethanolamines Market Size

Ethanolamines Market size was USD 2.79 billion in 2015 and is anticipated to grow at a CAGR of 4.1% between 2016 and 2024. Rising demand from agrochemical and surfactants, strong infrastructure growth in Asia Pacific and substantially potential demand from natural gas processing are likely to spur the global market. /p>

Relatively slower rise of raw material costs and other factors are also expected to contribute to revenue gain. Demand from other applications such as paints & coatings, cosmetics, textiles, additives, among others, is also likely to help the global industry grow in coming years. Ever-rising integration in the value chain, along with a fragmented industry moving towards consolidation within a few key players, is likely to increase competition./p>

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Major challenges faced by the global ethanolamines market include stringent regulations and health concerns raised by the ill-effect of these chemicals on human well-being. For example, The European Commission had banned the DEA use in cosmetic s to reduce contamination from carcinogenic nitrosamines. Medical studies have been conducted to test the effect of this chemical on human liver and links have been found to liver tumors in the past decade. This limits the usage of these chemicals in a wide range of applications and suitable substitutes have found a path to enter the market at the same time./p>