According to the new market research report “Polyetheramine Market by Type (Monoamine, Diamine, and Triamine), Application (Epoxy Coating, Polyurea, Adhesives & Sealants, Composites, and Fuel Additives), and Region – Global Forecasts to 2022″, The global polyetheramine market was valued at USD 625.8 Million in 2016 and is projected to reach USD 1,074.0 Million by 2022, at a CAGR of 9.3% from 2017 to 2022. The market is driven by the growing trend of renewable & eco-friendly energy generation and continuous improvements in the construction industry.
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The polyetheramine market is mainly segmented on the basis of type, application, and region. The type segment is further classified into monoamine, diamine, triamine, and others, which includes secondary amines, hindered amines, PTMEG-based amines, and PTMEG/PPG-based amines. Diamine is the fastest-growing segment of the polyetheramine type market.
Composites is projected 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 property of the composites used in wind turbine blades, and in adhesives to adhere the two parts of a blade, is leading to a high growth in the demand for polyetheramine in wind energy industry.
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108 – Tables
42 – Figures
141 – Pages
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Investments & expansions, partnerships, and new product launches were the key strategies adopted by industry players to achieve growth in the polyetheramine market between 2012 and 2016. The key players, such as Huntsman Corporation (U.S.) and BASF SE (Germany), have adopted these strategies to develop their businesses, globally. Increasing demand for advanced coatings, improving living standards of populations, and the use of composites in wind energy blades have led to a rise in the demand for polyetheramine.
Huntsman Corporation is a major player in the polyetheramine market. The company’s wide range of business segments provides an added advantage to the company’s profit margin, which enables it to compensate losses from low performing business segments and enables investments in strategic expansions and R&D activities. The performance products business segment includes polyetheramine products. The company earned around 24% of its revenue from performance products business segment in 2015 and is planning to invest further in this segment to enhance its sales globally. The company follows growth strategies such as capacity expansions and investing in R&D activities to meet the growing demand, improve product cost competitiveness, and enhance its product portfolio for new applications to cater to the market. In May 2015, Huntsman Corporation expanded its production capacity of Conroe chemical plant, which has polyetheramine manufacturing facility.
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BASF SE is another major player in the polyetheramine market. Europe accounted for 44% of the overall company revenue in 2015. The chemical business segment of the company manufactures polyetheramine for various applications and end users. This business segment earned around 22% of its revenue in 2015. The company’s business strategy mainly revolves around its targets to increase global reach, enhance revenue, and launch innovative solutions through its products. As a part of its growth strategy, the company plans to establish new production facilities and expand its existing plant capacities which could enable the company to take advantage of the opportunities in the high growth polyetheramine market. In April 2016, BASF SE inaugurated a new plant to produce specialty amines in the Nanjing Chemical Industry Park in Nanjing, China, as part of a move to open first specialty amines plant in Asia-Pacific. This expansion is expected to meet the growing market demands of polyetheramine in personal care, construction, wind energy, and coatings sectors.
Apart from the above mentioned market players, Wuxi Acryl Technology Co., Ltd. (China), Clariant (Switzerland), Yangzhou Chenhua New Materials Co., Ltd (China), and IRO Surfactant Co., Ltd. (China) are the other important players in this market.
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