The global ethyleneamines market is emerging with a robust growth due to the increasing number of applications in different industries such as resin, paper, automotive, adhesive, water treatment, agrochemical, pharmaceutical, personal care, textile chemical, and other applications. To sustain and maintain strong growth in the future, companies need to put in a lot of investment and efforts in research and development to come up with high quality, eco-friendly, and cost-effective ethyleneamines.
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The Asia-Pacific region has tremendous potential in the ethyleneamines market and its applications. This region has emerged as the driving factor for this market, contributing to more than 43% of the global demand and is projected to grow at a CAGR of 8.41% from 2014 to 2019 in terms of volume. China is the largest country in the consumption of ethyleneamines due to the increased demand from resin, paper, automotive, adhesive, water treatment, agro chemical, pharmaceutical, personal care, textile chemical, and other applications industry. The emerging economies such as Brazil, India, South-East Asian countries, and others are further lined up for a brighter future in this market.
Huntsman Corporation, headquartered in the U.S., aims to increase its presence in the Asia-Pacific region, particularly in India, Singapore, South Korea, and Thailand by increasing its production and infrastructure. Leading global players such as Akzo Nobel N.V., The Dow Chemical Company, BASF S.E., Tosoh Corporation, and others, are offering ethyleneamines to the domestic and global end-users. The Asia-Pacific market is catered by domestic as well as global manufacturers such as Akzo Nobel N.V. (The Netherlands), Huntsman Corporation (U.S), The Dow Chemical Company (U.S.), BASF S.E. (Germany), Tosoh Corporation (Japan), Delamine (The Netherlands), Diamines & chemical limited (India), and others entered the ethyleneamines manufacturing business to cater to the rising demand for ethyleneamines from the end-user application segments.
Enhanced demand in Asia-Pacific is projecting high growth in this market and several companies are expanding their capacities, in this region. For instance, BASF S.E. recently announced their plans of expanding their ethyleneamines capacities to cater to the upcoming end-user demands. The market players are expected to employ organic growth strategies, such as regional expansion and new product developments to expand their overall business worldwide. The main companies operating in this market are engaged in bringing innovations in their products as well as enhancing their penetration in the emerging markets. They are constantly taking efforts to strengthen material research & development (R&D) to provide cost-effective and eco-friendly products. These products are manufactured adhering to the regulations set by environmental organizations and governments. All such developments are expected to lead to sustainable growth in the ethyleneamines market in the next five years.
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