Ethylamine Market Trends

Growth Drivers

• Demand for better food quality- Food Safety and quality are some of the main concerns of consumers and health agencies around the world the current lifestyle and market globalization have led to an increase in demand of higher food. The use of high-grade ethylamine leads to an increase in a higher quality of food faster. As estimated by the Food and Agricultural Organization (FAO) an increase of around 60% more food production will be needed by 2050 and this will ultimately lead to an increase in the ethylamine market.

• Rising Use in the agricultural sector - considering its significance as a raw ingredient in the manufacture of herbicides like atrazine, simazine, and cyanazine, ethylene is driven by the expansion of the agrochemicals market. Herbicide use has increased recently as a result of farmers all over the world relying more and more on chemicals during the last ten years to enhance yields. The demand for regulators in agricultural production has increased as a result of the introduction of new technology into the agricultural sector. As a result, ethylamine is being used more frequently to speed up agricultural output.

• Increase in Research & Development- Ongoing research and development activities continuously explore new applications and derivatives of ethylamine, expanding its market potential in various industries, such as coatings, textiles, and personal care products.

• Rising Population- The global population’s expansion leads to increased demand for various goods, including pharmaceuticals, agrochemicals, and other products reliant on ethylamine, further propelling its market growth.

Challenges

• Increased awareness of Organic Food Products - The goal of an organic farming system is to minimize the use of artificially compounded fertilizers, herbicides, and other inputs. Instead, the system relies on crop rotation, animal manure, legumes, green manure, and other inputs. As consumer awareness of the potential dangers of chemicals like ethylamine grows, so does the sales of the products.  Organic cultivation currently accounts for only 1.6 percent of the world's agricultural land, but many countries have much higher shares. In 2021, organic management accounted for 10% or more of all agricultural land in 20 countries, compared to 18 countries in 2020.

• Exothermic nature of ethylamine during production is a limiting factor for the ethylamine market growth.

• High cost of raw materials for the production of Ethylamine, puts a hindrance in the product’s commercialization.