Diethanolamine Industry

Diethanolamine (DEA) Market Analysis

The Diethanolamine Market is expected to register a CAGR of greater than 5% during the forecast period.

In 2020, COVID-19 had a detrimental effect on the market. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.

• During the forecast period, the market is likely to be driven by the growing need for diethanolamine in the building and farming industries.
• On the other hand, concerns about the product's effect on the environment and health are likely to slow the growth of the diethanolamine (DEA) market over the next few years.
• Upcoming new refinery projects are likely to act as an opportunity in the future.
• Asia-Pacific dominated the market across the world, with the largest consumption coming from countries such as China, Japan, and India.

Diethanolamine (DEA) Market Trends

Increasing Demand from the Textile Industry

• Diethanolamine (DEA) is used in the textile industry for various applications, like fabric finishing agents, softening agents, fluorescent whitening agents, and lubricants for textile machinery.
• Apparel consumption is forecast to witness significant demand. With the increase in penetration of the internet, consumers are now looking for easy shopping, better offers, and easy return policies. The growth in online sales has contributed to the growth of the apparel industry.
• Nowadays, clothing has become a symbol of aspiration, personality, and status. Consumers have shifted from need-based to aspiration-based clothing. The demand for aspiration clothing has increased, which is expected to drive the DEA demand in the textile industry.
• About 15% of India's export revenue comes from the textile industry. 10.6% of India's total exports in FY22 were textiles, handicrafts, and clothing.
• As of October 2022, the National Bureau of Statistics of China said that China had made 3.18 billion meters of fabric for clothes.The volume of textiles produced each month was consistently greater than three billion meters. Hence positively impacting market growth.
• Thus, owing to the above-mentioned factors, the market for diethanolamine (DEA) is expected to grow significantly during the forecast period.

Asia-Pacific Dominates the Market

• The Asia-Pacific region dominated the global market. With the growing demand for herbicides to increase agricultural productivity in countries such as China and India, the usage of diethanolamine is likely to increase in the region.
• Total agricultural exports from India witnessed a significant increase. The country's agricultural and allied product export value exceeded USD 50 billion in the fiscal year 2022, representing an increase of nearly 43% compared to 2020. Hence, supporting the DEA demand in the agricultural industry
• Another prominent industry that is likely to boost the DEA market is construction. With the increase in construction activities in India and China, the consumption of DEA in paints and coatings is projected to increase.
• Rapid residential and commercial building expansion is the main driver of China's growth.China is encouraging and enduring a continuous urbanization process, with a projected rate of 70% by 2030.
• Also, China's construction output peaked in 2021 at a value of about USD 4.3 trillion. As a result, these things tend to make more people want to buy DEA in the area.
• All the aforementioned factors are expected to drive the demand for diethanolamine during the forecast period.

Diethanolamine (DEA) Industry Overview

The diethanolamine market is consolidated in nature. Some of the major players in the market include BASF SE, Dow, SABIC, INEOS, and HELM AG, among others (in no particular order).

Diethanolamine (DEA) Market Leaders

Diethanolamine (DEA) Market News

• February 2023: Chemanol, a Saudi Methanol Chemicals Company, signed a joint venture agreement with GDI to develop a national company to produce specialized chemicals. Chemanol will own a 60% stake in the new company. The joint venture will manufacture methyl diethanolamine, choline chloride, dimethyl disulfide, dimethyl sulfate, chlorine derivatives, poly alpha olefins, and aromatic solvents.
• February 2023: NIPPON SHOKUBAI CO., LTD. received ISCC PLUS certification*1 for 19 products, including Diethanolamine. The certification enables the establishment of a system for manufacturing and marketing certified products utilizing biomass-derived raw materials allotted by the mass balancing method*2 and offering a diverse selection of low-impact products.