During the anticipated period, the polyetheramine market is anticipated to grow at a CAGR of 9%. The market is anticipated to be worth US$ 1.53 billion in 2022 and US$ 3.62 billion by 2032.
Polyetheramines are typically the curing agents which contain polyether and amine moieties, are majorly used to increase toughness, flexibility, hydrophobicity or hydrophilicity of the end-products. Polyetheramines are used for a range of applications including polyurea, epoxy curing and polyamides in a range of coatings.
Polyetheramines are also used in adhesives, ink resins, elastomers and sealants. The considerable growth in coating industry is anticipated to boost the demand for polyetheramine.
Additionally, the substantial growth of elastomers, sealants and adhesives are also expected to increase the demand for polyetheramine during the forecast period. Thus, the wide array of applications and the following end-user industry is expected to drive the market for polyetheramine. The growth in polyetheramine end-user industries in Asia Pacific region is expected to be the largest region in the polyetheramine market.
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Polyetheramines have a moderate glass transition range of 25 to 100O C and are primarily available in colorless liquid form with odor similar to amines. Additionally, polyetheramines have long pot life and find application in hot melt adhesives, engineering composites and sealants. In addition to adhesives, polyetheramines are also used as fuel additives.
Epoxy coatings are also used in composite materials such as fiber glass and carbon fibers. The broad range of properties of polyetheramines is expected to drive the polyetheramine market. Considering the rising demand for polyetheramines in several end-user industries, in January 2014, Hunstman Corporation announced to increase the global production of polyetheramines by 15 percent.
Polyetheramine Market: Segmentation
Polyetheramine market is segmented on the basis of application and region. Based on application, the market can be segmented into polyuria, composites, fuel additives, epoxy coating, adhesives and sealants and other application. The epoxy coating application is expected to be the major application segment in the polyetheramine market.
Epoxy coatings being exceedingly durable coatings can be used for variety of purposes including adhesives, durable coatings for metals and floors. By region, the polyetheramine market can be segmented into North America, Latin America, Asia Pacific, Western Europe, Eastern Europe, Middle East and Africa and Japan.
Polyetheramine Market: Regional Outlook
Asia Pacific region is expected to be the fastest growing market for polyetheramine during the forecast period. The major reason for the growing demand for polyetheramine is the considerable growth in end-user applications and the respective industries consuming polyetheramines.
The developing Asian countries such as India, China, Malaysia, Indonesia and Thailand are expected to have sizeable growth owing to demand for adhesives, sealants and other major applications of polyetheramines.
Growing consumption of polyetheramines from epoxy coatings and from several composite materials is likely to increase the requirement of polyetheramine across the globe. The other applications of polyetheramines primarily include cement additives, acid neutralization, demulsification in oilfield and other niche applications are expected to drive the demand for polyetheramine.
The developed countries such as U.S. and U.K. are progressively recovering from the sluggish economic conditions and boosting the demand for polyetheramines. Considering the global outlook, the demand for polyetheramine application products is expected to record an outstanding growth during the forecast period.
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Polyetheramine Market: Key Players
Some of the key players operating in polyetheramine market are Yantai Dasteck Chemicals Co., Ltd., BASF SE, Huntsman Corporation, Clariant, Yantai Minsheng Chemicals Co., Ltd., Yangzhou Chenhua New Materials Co., Ltd, Wuxi Acryl Technology Co., Ltd. and Qingdao IRO Surfactant Co., Ltd.
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