According to the World Population Prospects 2019 by the Population Division of the United Nations Department of Economic and Social Affairs (UNDESA), the global population will surge from 7.7 billion in 2019 to around 9.7 billion by 2050. The booming population will create a huge requirement for agricultural products in the upcoming years. To meet the high demand, farmers are using agrochemicals in abundance. Thus, the escalating use of agrochemicals, such as glyphosate, as an herbicide, will propel the consumption of ethanolamines in the foreseeable future.
In addition, the mounting demand for surfactants and emulsifying ingredients will drive the ethanolamines market at a CAGR of 5.0% during the forecast period (2020–2030). The market was valued at $2,933.5 million in 2019, and it is projected to generate $5,079.0 million by 2030. Ethanolamines are used as emulsifying ingredients and surfactants in personal care products, such as shampoos, soaps, and laundry detergents. Thus, the increasing use of personal care products, on account of the mounting consumer spending and increasing availability of such products, will supplement the market growth.
Currently, ethanolamine manufacturers are engaging in the production of triethanolamine (TEA), diethanolamine (DEA), and monoethanolamine (MEA). Nowadays, DEA is being consumed in the highest quantity due to the vast application of this compound in the manufacturing of glyphosate, soaps, and detergents and treatment of natural gas and refinery products. Besides, the burgeoning demand for surfactants and herbicides, on account of the growing government support, will boost its consumption in the forthcoming years.
The application segment of the ethanolamines market is classified into herbicides, chemicals, cement, surfactants, gas treatment, and others. Among these, the surfactants category generated the highest revenue in 2019, and it is expected to continue this trend throughout the forecast period. This can be attributed to the surging use of ethanolamines in the production of shaving creams, industrial detergents, body lotions, gel-type cleaners, soap bars, and shampoos. The compound is being used as a surfactant in these products due to its emulsifying properties and ability to form foams by reacting with lauryl sulphate.
Asia-Pacific (APAC) used the highest volume of ethanolamines in the recent past, and it is expected to generate the highest demand for it in the coming years as well, as per P&S Intelligence. This can be primarily attributed to the increasing consumption of this chemical compound in the manufacturing sector of China, which imports a huge quantity of ethanolamines from Saudi Arabia and Thailand. Moreover, the expanding end-use industries in India, Vietnam, and Thailand will propel the consumption of the compound in the region in the foreseeable future.
Rest of the World (RoW) is expected to register the fastest growth in the ethanolamines market during the forecast period. This is credited to the surging number of manufacturing facilities in Saudi Arabia and Brazil. The expanding capacity of the manufacturing sector will result in the large-scale production of finished goods that use this compound in abundance. Additionally, the rising inclination of market players toward RoW will support the market growth in the forecast years.
Therefore, the mushrooming demand for agrochemicals, surfactants, and emulsifying substances will boost the consumption of ethanolamines.
The Aquatic Herbicides Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the aquatic herbicides market include Albaugh, BASF SE, DOW Chemical, Fluridone, Land O'lakes, Lonza, Monsanto, Nufarm, Sanco Industries, and Syngenta.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Aquatic Herbicides Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/aquatic-herbicides-market/download-sampleMarket DynamicsThe increasing demand for integrated weed control in fertilizers and fisheries industries is primarily driving the market growth.
However, the lengthy process to approve the herbicide product likely to restrict market growth.
Whereas, research and development of herbicide which is safer for human, fish and other useful plants are expected to create potential opportunity over the forecast period.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
