A regional overview of ethyleneamine market: APAC to emerge as a prominent revenue contributor over 2018-2024
Publisher : Fractovia | Published Date : 2018-10-31Request Sample
The extensive application scope of ethyleneamine market has indeed augmented its overall valuation, which had reached USD 2 billion in 2017 owing to the rapid growth of the textile, automobile, agriculture and pharmaceutical sectors. The use of this chemical in the manufacturing of hygiene products has also stimulated the ethyleneamine industry expansion, as growing population warrants an interminable demand for such products. Worldwide rise in the use of personal & homecare care products has also contributed to the industry development, with ethyleneamine being used as surfactants due to their excellent foaming capabilities. As innovations will eventually pave the way for productions that have advanced and more eco-friendly properties, the ethyleneamine market will experience augmented growth in the near future.
U.S. Ethylenediamines Market Size, By Application, 2017 & 2024, (Kilo Tons)
Boasting of the highest population base in the world, Asia-Pacific (APAC) is a prominent contributor to the ethyleneamine market earnings, being one the leading agricultural and automotive producers amongst other region. Ethyleneamine products are utilized in the production of fungicides and insecticides which are applied on fruits, vegetables, potatoes and even some grains to protect them against damage. It is a well-known fact that Asia is home to the world’s largest food producers and consumers, presenting an ideal market for crop protection products and agricultural chemicals needed to ensure maximum crop yield. China, for instance, produces about 20% of the world’s food even though it holds only 10% of the total arable land worldwide, demonstrating the huge potential existing for the ethyleneamine industry from the agricultural sector.
India, which ranks second behind China in the production of vegetables and fruits, had recorded 90.2 million metric tons of fruits and 169.1 million metric tons of vegetable produce in 2016. Indonesia and Thailand also feature among the top ten food producing nations globally, indicating the vast amount of pesticides that is required in APAC to counter pest infestation and secure sufficient supply of food for the ever-growing population. Importance of the ethyleneamine market for making crop protection products can be understood from the fact that in developing economies, an estimated 40% to 50% of crop yields are lost to pests, along with crop diseases and post-harvest losses. In India itself, annually about 30%-35% of crop yield gets wasted due to pests, highlighting the need for effective counter measures.
Being an important part of the global food chain, Asia accounted for nearly 19% of total food and agricultural exports, with the growing food demand instigating efforts by governments to increase production. Subsequently, the need for consistent rise in crop yield will expand the ethyleneamine market from application in pesticide and fungicide manufacturing. Ethyleneamines, such as ethylenediamines, are also widely used by lubricant and fuel additive manufacturers and the face-paced growth of the automobile segment will further advance the ethyleneamine industry. Ethyleneamine act as dispersants in engine oils for reducing the varnish and sludge deposits caused by low-speeds of vehicles, among other advantages. Considerable production and consumption of fuel across APAC region will offer lucrative opportunities for the global ethyleneamine market.
In 2017, China, Japan and India had manufactured a total of more than 43.4 million passenger and commercial vehicles, out of the overall global production of approx. 97 million vehicles. The region is also witnessing an incredible rate of vehicle demand, with sales showing a gradual rise over the last few years. Australia, China, India, Indonesia and Japan had a combined sale of over 40 million vehicles in 2017, underlining the immense fuel consumption probability in APAC, where steps to reduce vehicle emissions are escalating. A massive fleet of automobiles also requires a vast quantity of lubricants for engine maintenance, an application for which ethyleneamine seem to be used increasingly to ensure a high-quality product is offered.
All in all, with eventual rise in the demand for effective pesticides, lubricants, fuel additives and applications in household products as well as in the textile segments, the APAC ethyleneamine market is anticipated to be valued at USD 1 billion by 2024. Akzo Nobel N.V., BASF SE, Huntsman Corporation, The Dow Chemical Company, Diamines & Chemicals Limited, Tosoh Corporation and Delamine B.V. are key participants outlining the global industry competitive spectrum.
