NEW YORK , Feb. 20, 2023 (GLOBE NEWSWIRE) -- Following are some interesting highlights from a new IndexBox's report on the global monoethanolamine market.
Market Overview and Forecast
The global monoethanolamine market is expected to grow from $880M in 2022 to $990M in 2030 rising at a compound annual growth rate (CAGR) of 1.5% during the forecast period. The major drivers for the expansion are the increasing demand from the oil and gas, chemical and construction industries.
Monoethanolamine (MEA) is an organic compound with the chemical formula C2H7NO. It is a clear, colorless liquid with a slightly ammonia-like odor. MEA is widely used in various industrial processes.
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In the detergent and cleaning sector, one of the major consuming industries, MEAs are used as emulsifiers, foaming agents, and corrosion inhibitors in detergents and cleaners. They are also essential for the production of degreasers, hard surface, carpet, and floor cleaners.
MEAs are widely used as neutralizing agents in cementitious systems. They are applied in mortars, grouts, self-leveling underlayments, adhesives, and sealants. The mining industry is another major consuming industry, where MEAs are used as flotation collectors and frothers.
In the household setting, MEA is commonly found in many types of cleaners, including window, floor, toilet bowl, and tile and grout ones. Personal care products that may contain MEA in shampoo, conditioner, soap, body wash, facial cleansers, and makeup removers.
The Asia-Pacific region is expected to be the fastest growing market for MEAs due to the increasing demand from the detergent industry. It is set to be followed by North America and Europe.
Monoethanolamine Impact on Environment
When MEA is released into the air, it rapidly reacts with water vapor to form ethylenediamine (EDA), which has similar properties to MEA. EDA can cause irritation to the eyes, skin, throat, and lungs. It can also aggravate pre-existing respiratory conditions such as asthma. Long-term exposure to EDA may lead to liver damage or cancer.
The primary environmental concern associated with MEA is its potential to impact aquatic life. MEA is moderately toxic to fish and other aquatic organisms. In addition, MEA can promote the growth of algae blooms which can deplete oxygen levels in water bodies and negatively impact fish and other aquatic life. These factors could hinder the market growth.
Monoethanolamine Use in Carbon Dioxide Capture Technologies
MEA is one of the most commonly used chemical solvents for carbon dioxide (CO2) capture in post-combustion applications. It is typically used as a 50% aqueous solution, and is effective at absorbing carbon dioxide from flue gas streams with up to 15% CO2 concentration. One key advantage of using MEA for this process is that it can be easily regenerated back to its original state using thermal or chemical means. This makes it a very attractive option for application in power plants or other industrial facilities where greenhouse emissions need to be controlled. In order to further improve the efficiency of MEA-based CO2 capture systems, research is ongoing into developing new amine-based solvents that are more selective for carbon dioxide over other gases in flue gas streams. The global trend towards the reduction of greenhouse gas emissions could give a powerful impetus to the monoethanolamine market expansion.
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Companies Mentioned in the Report
AkzoNobel N.V. (Netherlands), BASF SE (Germany), Huntsman Corporation (US), The Dow Chemical Company (US), Eastman Chemical Company (US), Evonik Industries AG (Germany), Kao Corporation (Japan), Lonza Group Ltd. (Switzerland), Solvay SA (Belgium).
Sources
World – Monoethanolamine and Its Salts - Market Analysis, Forecast, Size, Trends and Insights
EU - Monoethanolamine and Its Salts - Market Analysis, Forecast, Size, Trends and Insights
Asia - Monoethanolamine and Its Salts - Market Analysis, Forecast, Size, Trends and Insights
U.S. - Monoethanolamine and Its Salts - Market Analysis, Forecast, Size, Trends and Insights
