Market Insights
The ethanolamine market is estimated to grow from USD 3.53 billion in 2023 and is likely to grow at a CAGR of 3.90% during 2023-2028 to reach USD 4.28 billion by 2028.

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What is ethanolamine?
Ethanolamine is basically an organic chemical compound that has a colorless appearance. It is a viscous liquid with an odor similar to ammonia.
Ethanolamine Market Report Overview
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Market Size in 2028
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USD 4.28 Billion
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Market Size in 2023
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USD 3.53 Billion
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Market Growth (2023-2028)
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CAGR of 3.90%
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Base Year of Study
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2022
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Trend Period
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2017-2021
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Forecast Period
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2023-2028
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Market Dynamics
The ethanolamine market is driven by a host of factors, some of which are noted below:
- Rapidly increasing demand for surfactants: Surfactants are used in a wide variety of applications, including soaps, detergents, cosmetics, and pharmaceuticals. The demand for surfactants is growing rapidly due to the increasing population and rising disposable incomes, which are driving the demand for personal care products and household cleaning products.
- The surge in the sale of agrochemicals: The sale of agrochemicals is surging due to the increasing demand for food production. Ethanolamine is used in the production of a variety of agrochemicals, including herbicides, insecticides, and fungicides.
- Increase in consumption of the compounds: Ethanolamine is used in a variety of other applications, including gas treatment, oil & gas drilling, and pharmaceuticals. The consumption of ethanolamine is increasing due to the growing demand for these applications.
- Infrastructure growth and natural gas processing in Asia-Pacific: This is due to the healthy growth in infrastructure in the region, which is driving the demand for construction materials and chemicals. Natural gas processing is also a major growth driver for the ethanolamine market in Asia-Pacific. Ethanolamine is used in the removal of sulfur from natural gas, which is a necessary step in the production of clean-burning fuels.
- Growing demand for green chemicals: Ethanolamine is a green chemical because it is biodegradable and non-toxic. The growing demand for green chemicals is driving the demand for ethanolamine.
- Technological advancements: There have been significant technological advancements in the production of ethanolamine, which has made it more efficient and cost-effective to produce. This has also contributed to the growth of the ethanolamine market.

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Restraints of the ethanolamine market:
- Volatility of raw material prices: The price of ethanolamine is volatile and can be affected by the price of raw materials, such as ethylene oxide and ammonia. This can make it difficult for manufacturers to plan their production and pricing.
- Stringent government regulations: There are several government regulations that govern the production and use of ethanolamine. These regulations can make it difficult and expensive for manufacturers to comply and can also limit the market for ethanolamine in some applications.
- Health and safety concerns: Ethanolamine is a hazardous chemical and can be harmful to human health and the environment. This can limit its use in some applications and make it necessary for manufacturers to take special precautions to handle and use it safely.
- Competition from substitutes: There are several substitutes for ethanolamine, including other amines and organic solvents. This can make it difficult for ethanolamine to compete in some applications.
- Trade barriers: Trade barriers, such as tariffs and quotas, can restrict the import and export of ethanolamine, which can limit the growth of the market.
Segments Analysis
Product Trends
The market is segmented as monoethanolamines, diethanolamines, and triethanolamines. Triethanolamines are estimated to account for the major share of the market during the forecast period on account of their wide range of applications in various end-uses such as fragrances, hair care products, shaving products, wave sets, sunscreen, and others.
Application Trends
The market is segmented as surfactants, chemical intermediates, herbicides, gas treatment, cement, and others. Surfactants are estimated to be the leading segment of the market during the forecast period. Their widespread use as emulsifying agents, boosters, or anti-static agents in a variety of applications defines the growth of the segment.
Regional Analysis
In terms of regions, Asia-Pacific captured the largest share of the market in 2022, and is estimated to be the leading region in the market during the forecast period. The region is expected to witness healthy growth based on strong domestic consumption; China and India are the growth engines of the region. North America and Europe are also estimated to offer substantial growth opportunities during the forecast period.

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Segmentation
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The ethanolamine market is segmented into the following categories
By Product Type:
- Monoethanolamines
- Diethanolamines
- Triethanolamine
By Application Type:
- Surfactants
- Chemical Intermediates
- Herbicides
- Gas Treatment
- Cement
- Others
By Region:
- North America (Country Analysis: the USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Key Players
Some of the key players in the ethanolamine market are:
- Akzo Nobel N.V.,
- BASF-YPC Company Ltd.,
- China Petroleum & Chemical Corporation,
- Huntsman Corporation,
- INEOS Group Ltd.,
- LyondellBasell Industries N.V.,
- SABIC, Sintez OKA LLC,
- Thai Ethanolamines Co. Ltd.,
- The Dow Chemical Company.
Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market
What Deliverables Will You Get in this Report
Key questions this report answers
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Relevant contents in the report
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How big is the sales opportunity?
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In-depth Analysis of the ethanolamine market
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How lucrative is the future?
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The market forecast and trend data and emerging trends
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Which regions offer the best sales opportunities?
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Global, regional, and country-level historical data and forecasts
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Which are the most attractive market segments?
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Market segment analysis and Forecast
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Which are the top players and their market positioning?
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Competitive landscape analysis, Market share analysis
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How complex is the business environment?
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Porter’s five forces analysis, PEST analysis, Life cycle analysis
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What are the factors affecting the market?
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Drivers & challenges
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Will I get the information on my specific requirement?
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10% free customization
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Customization Options
Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to 3 players)
- SWOT analysis of key players (up to 3 players)
Market Segmentation
- Current market segmentation of any one of the product types by application type.
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
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