Polyetheramine Market

Polyetheramine Market Size-(2023-2028):

The worldwide market for polyetheramine was valued at USD 600 million in 2022 and is predicted to reach USD 1.5 billion in 2028, with a CAGR of 9.1% from 2023-2028.

Polyetheramines (PEA) are curing agents produced by the reaction of ether and amine. The ether-containing bond, known as a polyether, reacts with an amino group to produce polyetheramine. PEA is primarily employed as an epoxy resin curing agent to produce epoxy composites and coatings. It has superior physical properties such as high toughness, flexibility, and low viscosity. Additionally, PEA has a long service life and therefore finds applications in hot melt adhesives, sealants, and engineering compounds. Furthermore, it exhibits hydrophobicity or hydrophilicity depending on the final product formed. It is commercially available in liquid form with an odor similar to that of amines.

Polyetheramine Market Trends:

The main reason for the market expansion is the growing call for the product in countries such as Thailand, Malaysia, Indonesia, and India. The Asia Pacific region is predicted to be the fastest-growing market during the foreseen period for polyetheramine. This growing call is due to the escalating need for end-user applications such as agriculture, construction, automotive, adhesives, sealants, paints, and coatings. The developed economies of the United Kingdom and the United States are gradually heading toward recovery from weak economic conditions and improving market calls for polyetheramines.

Recent Developments in the Polyetheramine Market:

• Huntsman Corporation (NYSE: HUN) today officially opened its new worldwide JEFFAMINE polyetheramine manufacturing facility on Jurong Island, Singapore.
• BASF said it will build a new specialty amine plant at its 100% existing site in Nanjing Chemical Industry Park in China.

Polyetheramine Market Drivers:

The growing concern for renewable energy sources such as wind power and the escalating consumption of polyether amines in the production of light compounds such as wind turbine blades are the main expansion engine of the worldwide market. The polyetheramine market is predicted to experience strong expansion due to the expansion of end-user industries. The increase in the use of polyetheramine compounds in the wind power industry over the past few years is predicted to drive the market during the foreseen period. In terms of type, the diamine segment is predicted to see strong expansion due to the escalating use of wind turbine blade composites. The escalated call for renewable energy is driving the market for the wind industry. This, in turn, is predicted to boost the polyetheramine market over the foreseen period. The main factors on which the expansion of the polyetheramine market is said to depend are the market penetration in the polyetheramine consuming industries and the considerable expansion in polyetheramine applications. end-users. The escalating call for many epoxy composites and coatings is predicted to increase the need for polyetheramine in the world. Besides, factors that are likely to drive polyetheramine consumption shortly are: local end-user production escalated industrial manufacturing expansion and the ever-growing population of developing economies. The cement additive and acid neutralization industry is also believed to contribute to the growing market call for polyetheramine.

Polyetheramine Market Restraints:

Growing environmental concerns regarding the removal of polyetheramine, along with government regulations on the health risks associated with epoxy coatings, such as skin sensitization, are the main factors restricting the expansion of the worldwide market.

Opportunities in the Polyetheramine Market:

The escalating importance of polyetheramine rubber-type epoxy asphalt compounds is likely to create lucrative opportunities for players in the construction industry market. Escalating populations in emerging countries, expansion in the manufacturing industry, and escalated local production for end-use are predicted to boost consumption of polyetheramines. The expansion of industries such as cement additives and acid neutralization is also predicted to increase the market for polyetheramine. The considerable expansion of the coatings industry is predicted to stimulate the call for polyetheramine. Additionally, the substantial expansion of elastomers, sealants, and adhesives is also predicted to increase the call for polyetheramine during the foreseen period. Therefore, the wide range of applications and the following end-user industry is predicted to drive the market for polyetheramine. The expansion of polyetheramine end-user industries in the Asia-Pacific region is predicted to be the largest market region for polyetheramine.

Challenges in the Polyetheramine Market:

The immediate availability of bio-based products for epoxy coatings and organics is likely to represent a significant challenge for polyetheramine producers. Additionally, acidic epoxy coatings employed for floors can cause cracks and chips, posing an additional challenge for polyetheramine producers.

POLYETHERAMINE MARKET POLYETHERAMINE MARKET:

Market Segmentation:

Polyetheramine Market By Type:

• Monoamine

• Diamine

• Triamine

The diamines segment represented the largest market share in terms of volume, followed by the monoamines and triamines segments. Diamines are primarily consumed in epoxy coatings, polyuria, and adhesive and sealant applications. The growing urbanization and the use of renewable energies are the engines of this segment.

Polyetheramine Market By Application:

• Epoxy coating
• Polyurea
• Adhesives and sealants
• Composites
• Fuel additives

The compounds are predicted to be the fastest-growing application segment of the polyetheramine market from 2017 to 2022. The use of polyetheramine as an additive to improve the properties of compounds employed in wind turbine blades and adhesives for two parts of a blade leads to strong expansion in the call for polyetheramine in the wind energy industry.

Polyetheramine Regional Analysis:

•  North America 
•  Europe 
•  Asia Pacific 
•  Latin America 
•  Middle East & Africa 

The Asia-Pacific region is predicted to experience the highest expansion rate, both in volume and value, during the foreseen period, followed by the Middle East and Africa. The market in this region is experiencing an increase in the call for polyetheramine from the wind power and construction industries. In the Asia Pacific region, India is estimated to be the fastest-growing market for polyetheramine during the foreseen period. The most significant expansion is due to the wind energy industry due to the call for polyetheramine in composite and adhesive applications. The call for coatings, adhesives, and sealants in the construction industry is also driving the market for polyetheramine.

The European market held the second largest market share in 2018 due to the growing call for lightweight composites in automotive and aerospace components in the region. Germany is the leading country in the region due to the escalating call for polyetheramine in adhesives, sealants, and food additives in the established automotive sector. Other key countries contributing to the expansion of the regional market are Italy, France, the United Kingdom, and the Netherlands.

The North American market accounted for a substantial market share in 2018 due to the presence of large end-use industries such as paints & coatings and automotive. The escalating consumption of polyetheramine from epoxy coatings and various composite materials is likely to increase the need for polyetheramine around the world. Other applications for polyetheramines mainly include cement additives, acid neutralization, oilfield demulsification, and other specific applications that are predicted to drive the call for polyetheramine. Developed countries like the United States and the United Kingdom are gradually recovering from the sluggish economy and stimulating call for polyetheramines.

Polyetheramine Market Key Players:

Few of the major competitors currently working in the polyetheramine market are

1. Huntsman International LLC

2. BASF SE

3. Clariant, Yangzhou Chenhua New Materials Co., Ltd

4. Wuxi Acryl Technology Co., Ltd

5. Yantai Minsheng Chemicals Co., Ltd

6. Iro Surfactant Co., Ltd

7. Yantai Dasteck Chemicals Co., Ltd

8. Zibo DexinLianbang Chemical Industry Co., Ltd

9. The Aurora Chemical Co. Ltd