Global Monoethanolamine Strategies 2025, Forecast To 2034
19 Mar, 2025
How Has the Monoethanolamine Market Size Evolved in Recent Years?
The monoethanolamine market has seen considerable growth due to a variety of factors.
• In the past few years, the monoethanolamine market has seen robust growth. The market size is projected to expand from $3.24 $ billion in 2024 to $3.46 $ billion in 2025, with a compound annual growth rate (CAGR) of 6.7%.
Factors like growing expansion in the construction sector, increased oil and gas refining, its rising usage as corrosion inhibitors, escalating demand in herbicides and pesticides, and growth in the production of ethanol-based chemicals have contributed to the growth seen in the historical period.
What Is The Forecast For The Monoethanolamine Market Size?
The monoethanolamine market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the monoethanolamine market is anticipated to experience robust expansion. It's predicted to escalate to $4.45 billion in 2029, with a compound annual growth rate (CAGR) of 6.5%.
The projected growth during this period is traced back to multiple factors such as heightened demand in agrochemicals, increased utilization in detergents' surfactants, growing significance in gas sweetening initiatives, burgeoning textile industry, and its escalating usage in personal care commodities. Key trends predicted for this period comprise widened applications in cement grinding assistors, rising need for water treatment solutions, ascending applications in metalworking lubricants, progressions in chemical production methods, and technological advancements in gas purification and treatment.
What Are The Essential Drivers Behind The Growth Of The Monoethanolamine Market?
The expansion of the monoethanolamine market is forecasted to be fueled by its growing use in the pharmaceutical sector. This industry targets research, production, and selling of medications and drugs to enhance health and combat illness. The demand for sophisticated treatments and drugs, an increase in chronic diseases, and continual drug development innovations are leading to the growth of the pharmaceutical industry. Monoethanolamine plays a critical role in the drug production process within this industry, acting as a primary component in the creation of various medications and active pharmaceutical ingredients. As per a December 2022 report by Statistics Canada, a government agency, the personal and household goods sector saw a sales increase of 2.8% for the third straight month in October 2022, amounting to $11.6 billion. This surge was predominantly propelled by a 3.9% rise in the pharmaceuticals and pharmacy supplies sector, reaching a peak of $6.4 billion since January 2022. Consequently, the increasing use of monoethanolamine in the pharmaceutical sector is propelling the growth of its market.
How Is The Global Monoethanolamine Market Divided Into Key Segments?
The monoethanolaminemarket covered in this report is segmented –
1) By Type: Purity 99% And Above, Purity Below 99%
2) By Form: Liquid, Solid
3) By Grade: Industrial Grade, Pharmaceutical Grade
4) By Distribution Channel: Direct Sales, E-Commerce, Other Distribution Channels
5) By Application: Detergents And Cleaners, Gas Treatment, Personal Care Products, Herbicides, Chemical Intermediates, Cement Additives, Other Applications
Subsegments:
1) By Purity 99% and Above: Pharmaceutical Grade Monoethanolamine, Industrial Grade Monoethanolamine, Food Grade Monoethanolamine, High Purity Monoethanolamine
2) By Purity Below 99%: Technical Grade Monoethanolamine, Agricultural Grade Monoethanolamine, Impure Monoethanolamine (Mixed Grades)
What Trends Are Reshaping The Future Of The Monoethanolamine Market?
Leading corporations in the monoethanolamine market are using strategic partnerships as a tactic to diversify their amine product offerings. These partnerships, which are cooperation agreements between organizations, merge resources, expertise, or capabilities to attain shared business objectives and competitive edges. For example, in February 2024, BASF SE, a German monoethanolamine product producer, formed a partnership with OQEMA AG, a chemical distribution company also based in Germany. Thanks to this alliance, OQEMA can utilize its wide distribution and sales network and its profound knowledge of the UK market. Meanwhile, BASF will deliver high-grade, competitively priced products on a large scale, strengthening their joint market position.
Who Are the Key Players In The Monoethanolamine Market?
Major companies operating in the monoethanolamine market are:
• BASF SE
• Dow Chemical Company
• SABIC (Saudi Basic Industries Corporation)
• Sasol Limited
• Lotte Chemical Corporation
• INEOS Group
• Akzo Nobel N.V.
• Eastman Chemical Co.
• Huntsman International LLC
• Lubrizol Corporation
• Petronas Chemicals Group Berhad
• Nouryon
• Nippon Shokubai Co. Ltd.
• HELM AG
• Zhejiang Jianye Chemical Co. Ltd.
• Miwon Commercial Co. Ltd.
• Alkyl Amines Chemicals Ltd.
• Amines & Plasticizers Ltd.
• Colonial Chemical Solutions Inc.
• Enaspol GmbH
• Jiahua Chemicals Inc.
• Mitsui Chemicals Inc
What Are The Regional Insights Into The Monoethanolamine Market?
Asia-Pacific was the largest region in the monoethanolamine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the monoethanolamine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.