MARKET ANALYSIS
Diethanolamine (DEA) is a chemical compound that belongs to the family of ethanolamine’s. It is a clear, viscous liquid with a faint ammonia-like odor. DEA has a wide range of applications in various industries. One of its primary uses is as a surfactant or emulsifier in personal care products such as shampoos, soaps, and lotions. It helps to create a stable foam, improve the consistency of products, and enhance their moisturizing properties. In addition to personal care, DEA also finds application in the agricultural sector. It is used as an intermediate in the production of herbicides, particularly in formulations of glyphosate-based herbicides.
GROWTH DRIVERS AND CHALLENGES
The personal care industry plays a significant role in driving the DEA market. DEA is widely used in the formulation of personal care products such as soaps and shampoos. Its properties as an emulsifier, pH adjuster, and foam booster make it valuable in creating stable formulations with desired texture and performance characteristics. Furthermore, agricultural sector is another driving factor. DEA plays a crucial role in herbicide formulations, particularly in combination with glyphosate. With the expansion of agriculture and the need for effective weed control, the demand for herbicide containing DEA is anticipated to rise. Additionally, the increasing population and the need to enhance crop productivity, contribute to the demand for DEA based herbicides. However, the increasing awareness and concerns regarding the potential health and environmental risks associated with DEA is restraining the market growth. Studies have suggested a possible link between DEA exposure and skin and eye irritation, as well as potential carcinogenic effects. Another factor restraining the market growth is the availability of alternative chemicals and compounds that can perform similar functions as DEA. Given factors can restrain the market growth significantly during the forecast period.
REPORT SEGMENTATION AND SCOPE
The "Global Diethanolamine Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global diethanolamine market trends and growth opportunities. The report aims to provide an overview of the global diethanolamine market with detailed market segmentation by application, end use, and geography. The global diethanolamine market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of diethanolamine worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the diethanolamine market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the diethanolamine market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative diethanolamine market opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global diethanolamine market, which helps understand the entire supply chain and various factors affecting the market growth.
SEGMENTAL ANALYSIS
The global diethanolamine market is segmented on the basis of application, and end use. Based on application, the diethanolamine market is segmented as, chemical intermediate, corrosion inhibitor, metalworking fluids, gas treatment, and others. On the basis of end use, the market is classified as, agrochemical, cosmetics and personal care, textile, pharmaceutical, paint and coating, and others.
Based on application, the chemical intermediate segment accounted for a significant market share in diethanolamine share which can be attributed to its crucial role in the manufacturing of glyphosate-based herbicides. Herbicides containing DEA are extensively used in the agricultural sector for weed control in various crops. Based on end use, cosmetics and personal care accounted for a major diethanolamine market share as it acts as emulsifier, pH adjuster, and foam booster in cosmetics and personal care products, such as soaps and shampoos. All these properties are helping in bolstering the diethanolamine market growth.
REGIONAL ANALYSIS
The report provides a detailed overview of the global diethanolamine market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. North America is estimated to account for a significant diethanolamine market share globally. Increasing agricultural activities to cater food requirements of growing population is positively contributed to the market growth in North America. Europe is also expected to witness considerable market growth with the increasing utilization of cosmetics and personal care products in Europe. Asia Pacific is also expected to be an attractive market for diethanolamine during the forecast period, owing to the growing agricultural activities to cater food requirements of drastically growing population, especially in countries such as China, India, Japan, among others.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnership, acquisitions and new product launches were found to be the major strategies adopted by the players operating in the global diethanolamine market.
In October, 2022, Saudi Chemanol inks $133mln agreement to produce specialty chemicals. Methanol Chemicals Co (Chemanol) has signed Heads of Agreement for a strategic partnership with Riyadh-based Global Company for Downstream Industries (GDI) to produce specialty chemicals at an investment of about 500 million Saudi riyals ($133.06 million)
In April, 2020, BASF SE announced the expansion of its production capacity of DEA at its site in Ludwigshafen, Germany, by 20,000 metric tons per year. The company aims to meet the growing demand for DEA in various applications such as detergents, personal care, and chemical intermediates.
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
The covid-19 pandemic led to a decline in the progress of many industries across the globe. Shutdown of manufacturing plants and restricted trade across the globe led to supply chain constraints for the manufacturers across the globe. These disruptions impacted the DEA market by causing supply chain disruptions, inventory shortages, and delays in production and delivery schedules.
Moreover, the economic slowdown resulting from the pandemic had an impact on several end use industries of DEA. The personal care industry, which is a major consumer of DEA, faced challenges as demand for cosmetic products declined due to lockdowns, reduced social gatherings, and changes in consumer behaviour. Therefore, the diethanolamine market has recovered quite well from the aftermath of the pandemic and is expected to grow over the coming years.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the diethanolamine market include, BASF SE, Dow, Ineos, Sabic, Helm AG, Nippon Shokubai Co., Ltd, KH Chemicals, OUCC, Emco Dyestuff, Haihang Industry, Sigma Aldric, TCI Chemicals, Merck Millipore, Nouryon, The Chemical Company, and Alfa Aesar among others.