Global Tetraethylenepentamine (TEPA) Market Highlights over 2022 – 2031
The global tetraethylenepentamine (TEPA) market is estimated to grow at a significant CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the growing use of tetraethylenepentamine for bonding of ions and molecules to metal ions. Tetraethylenepentamine (TEPA) is an organic compound primarily used as a curing agent or hardener in epoxy chemistry. Moreover, the growing application of TEPA for cleaning liquid industrial pollutants, is one of the major factors estimated to boost the market growth. The increasing level of water pollution is further projected to propel the market growth. As per a report by the UNESCO, 2 million tons of sewage and other effluents are dumped into the water resources every day, while industries discharge an estimated 300-400 megatons of waste into water bodies every year. Such factors are estimated to boost the market growth.
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The market is segmented by application into chelating agents, corrosion inhibitors, curing agents, surfactants, asphalt additives, oil & fuel additives, textile adhesives, and others, out of which, the chelating agents segment is anticipated to hold a substantial share in the global tetraethylenepentamine (TEPA) market over the forecast period. The segment growth can be attributed to the growing demand for chelating agent in the healthcare, textile, and cleaning industries. Chelating agents are used to reduce levels of injurious heavy metals, such as copper, mercury and lead from blood and tissues.
Major Macro-Economic Indicators Impacting the Market Growth
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Global Tetraethylenepentamine (TEPA) Market Regional Synopsis
On the basis of geographical analysis, the global tetraethylenepentamine (TEPA) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing chemical industry in the region, along with increasing establishment of industries in the developing economies. For instance, the chemical industry in Asia accounted for more than 55% share of the revenue generated by the global chemical industry. On the other hand, the market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the growing presence of chemical manufacturing companies in the region.
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The global tetraethylenepentamine (TEPA) market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global tetraethylenepentamine (TEPA) market includes the following segments:
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The increasing application of TEPA in the treatment of industrial waste water is estimated to boost the market growth.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022 – 2031.
The major players in the market are Tosoh Corporation, The Dow Chemical Company, Nouryon Chemicals Holding B.V., Bax Chemicals B.V., LyondellBasell Industries Holdings B.V., Andhra Petrochemicals Ltd., DuPont de Nemours, Inc., 3M Company, and Honeywell International Inc.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by application, end-user, and by region.
The chelating agents segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
Unavailability of raw materials, and shortage of labor in chemical sector are estimated to hamper the market growth.
The North America region is anticipated to provide more business opportunities over the forecast period owing to the presence of major manufacturers in the region.
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