The global monoethanolamine market size is expected to witness potential gains in the future and register a significant CAGR of 5.2% over the forecast period (2019 - 2027).
Monoethanolamine, also known as ethanolamine, is an organic chemical compound that finds application in corrosion inhibitors, pharmaceuticals, textile auxiliaries, cosmetics and wood chemicals, and scrubbing acidic gases (H2S, CO2). This colorless, viscous liquid is a first generation monoethanolamine with antihistaminic property. It is available in a variety of grades, including low freeze grade and iron and chloride free, as well as gas treating grades. MEA is water soluble and biodegradable.
Monoethanolamine finds application in corrosion inhibitors, pharmaceuticals, textile auxiliaries, cosmetics and wood chemicals, scrubbing acidic gases (H2S, CO2). The Environmental Protection Agency (EPA) classifies monoethanolamine as a specialized industrial chemical. Monoethanolamine is used in to remove CO2 and H2S from natural gas and other gases. Monoethanolamine is a pharmaceutical adjuvant and is used as a solvent for fats and oils and in production of soaps in the formulations of various types of emulsion such as lotions and creams. Therefore, increasing demand for monoethanolamine from various end-use industries is expected to boost growth of the global monoethanolamine market over the forecast period.
However, availability of other amines as a substitute to monoethanolamine is expected to hinder the market growth. Moreover, monoethanolamine can lead to several hazardous effects such as irritation of the eyes and nose, injury to mouth, throat, digestive tract, skin, and eyes.
Use of monoethanolamine in carbon capture and storage (CCS) is expected to offer lucrative growth opportunities for market players
On the basis of region, the global monoethanolamine market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East. The market in Europe is expected to witness significant growth, owing to growing personal care industry in the region. Monoethanolamine is used to neutralize fatty acids that find application as emulsifiers for oil-in water emulsions such as aerosol shave creams, geltype industrial hand cleaners, and hand and body lotions. North America is expected to witness significant market share, owing to increasing demand for monoethanolamine in the textile industry. MEA is used as reaction intermediates for the preparation of durable press fabric finishes and softeners.
Major players operating in the monoethanolamine market include, BASF, Dow Chemical Company, GaoQiao Petrochemical Corporation, Ineos oxide, Equistar, Akzo Nobel, Nippon Shokubhai, Helm AG, Sasol, Huntsman, Jiaxing Jinyan Chemical Co., Mitsui Chemicals, Amines &Plasticizers Ltd. (APL), and Fushun Huafeng.