Triethanolamine Market size is projected to reach USD 4 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of triethanolamine was over USD 2 Billion. The market is expanding as a result of the growing spending in the construction industry across the globe.
It is expected that the growing number of new industrial development projects in the upcoming years will support triethanolamine sales globally since it is being used increasingly often as an additive to prevent powder that is sprayed to mill walls and ball surfaces from coating and clumping together. For instance, before the coronavirus pandemic, the construction industry had grown to a spending value of more than USD 10 trillion, and it is foreseen to expand by around 2% per year.
In addition to these, factors that are believed to fuel the triethanolamine market expansion include rising spending on research and development. Research and development initiatives are being funded by market players planning to enter the triethanolamine sector to offer more user-friendly products that won't negatively impact the corresponding users in the near or long run.
Growth Drivers
Challenges
In addition, many amino alcohols and 2-amino-2methyl-1-propanol can be substituted for triethanolamine as they have several typical applications, such as grease treatment, alkalinity at low pH, and corrosion protection, which contributes to their increasing sales.
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
6% |
|
Base Year Market Size (2023) |
USD 2 Billion |
|
Forecast Year Market Size (2036) |
USD 4 Billion |
|
Regional Scope |
|
Purity Level (99%, 98%, 85%)
The 99% segment in the triethanolamine market is estimated to gain a revenue share of about 48% by the year 2036. The segment growth can be attributed to its uses in several applications. Triethanolamine (99%) serves as a humectant, alkaline agent, and curing agent, and is a flexible component that can be used in many different applications as a surfactant, pH adjuster, and emulsifier. TEA 99 is a member of the ethanolamine family a hygroscopic liquid with a faint ammoniacal smell, which is a common ingredient in polishes, liquid dishwashing soaps, laundry detergents, and cosmetics.
Moreover, it is a highly valued component of many hair products, such as perm solutions, setting gels, sprays, shampoos, and conditioners. It is also present in face wash, eye creams, moisturizers, and crayons, among other products, which is expected to augment its sales globally.
Furthermore, triethanolamine 85%, sometimes known as TEA 85%, is a clear to pale liquid, which is a component of degreasers, hard surface cleaners, laundry detergents, hand dishwashing detergents, multipurpose detergents, and also serves as an alkali agent in multipurpose cleaners, polishing waxes, and car shampoos.
Application (Detergent Manufacturing, Personal Care & Cosmetics, Textile Finishing, Concrete Admixtures, Agricultural Chemicals, Photographic Emulsions, Engineering/Metal Working Fluids, Rubber & PU Foams)
The personal care & cosmetics segment in the triethanolamine market is set to garner a notable revenue shortly. Triethanolamine is an essential basic element used in cosmetic formulations. It is particularly useful as an emulsifier for skin care products such as shampoos, creams, lotions, and cleaners when combined with specific fatty acids.
Triethanolamine is used in the production of eye creams, face cleansers, eye shadows and pencils, and mascaras since it does not affect the skin makes the items easier to spread, enhances texture, and helps stable consistency. In addition, it is a pH-adjusting ingredient in perfumes, bath oils, and colognes. As the market for facial and beauty products grows, triethanolamine sales are expected to rise.
Our in-depth analysis of the triethanolamine market includes the following segments:
|
Purity Level |
|
|
Grade |
|
|
Function |
|
|
Application |
|
North American Market Statistics
Triethanolamine market in the region is anticipated to hold a share of about 35% by the end of 2036. The market growth in the region may witness lucrative growth on account of the growing production of chemicals. One of the major countries in the world producers of chemical products is the United States catering to a growing international market in addition to a substantial home market. As a result, there is an increasing need for ingredients such as triethanolamine since it is commonly used in several end-use industries.For instance, in 2022, the US chemical sector is predicted to expand its output volume by more than 4%.
Additionally, over the previous ten years, the United States has gradually expanded its cement consumption, which may boost the demand for triethanolamine as it serves a variety of purposes as a cement addition, one of which is to help with grinding during the cement comminution process.
APAC Market Analysis
The Asia Pacific region will also encounter huge growth for the triethanolamine market during the forecast period and will hold the second position owing to the increasing usage of agrochemicals. India's low resource costs and relatively low domestic use of agrochemicals helped it rank as the world's second-largest agrochemical exporter in 2022. This is likely to fuel the demand for an organic substance called triethanolamine, or TEOA in the region which is utilized in the production of agrochemicals. As per the data, India's agrochemical exports increased from around USD 4 billion in 2021–22 to a record USD 5 billion in 2022-23.
Author Credits: Smruti Ranjan, Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?