New York, United States , Sept. 05, 2023 (GLOBE NEWSWIRE) -- The Global Morpholine Market Size is to grow from USD 3.7 Billion in 2022 to USD 7.74 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.6% during the projected period. The rising adoption of morpholine in various applications such as rubber additives, pharmaceuticals chemicals, corrosion inhibitors, optical brighteners, chemical polishing agents, and others in several end-use industries including chemical, pharmaceutical, textile, agriculture, personal care, food & beverages, pharmaceuticals, water treatment, and others are expected to boost the demand for the morpholine market during the forecast period.
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Morpholine is a chemical-based organic liquid that is primarily used as an intermediate in the production of rubber-based chemicals and optical brighteners, as an anti-corrosion agent in steam condensate systems, as a constituent in waxes and polishing agents, and as a component of fresh fruit and vegetable protective coatings. Morpholine is used in the production of rubber accelerators and medications, as well as a volatile amine separating agent. Morpholine is also used as a precursor in the synthesis of ethyleneimine (EI), a critical component in the synthesis of polymers and synthetic resins. Furthermore, morpholine is made from environmentally friendly and sustainable materials, which increases product adoption. Demand for rubber accelerators in the vehicle manufacturing sector is increasing due to increased automobile production and tire manufacturing activities. This chemical combination increases rubber processing as well as efficiency by reducing, conditioning, and speeding up the entire manufacturing process.
Furthermore, the worldwide morpholine market is being driven by rising demand for rubber in the construction sector. Rising building activity is increasing the demand for corrosion inhibitors, which protect metal structures from degradation and rust. Furthermore, the growing emphasis on water treatment and wastewater management has boosted the prospective demand for morpholine-based chemical compounds used in water treatment. However, because of the possible harm to individuals and the environment, strict environmental rules control the use of some compounds, including morpholine.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on, "Global Morpholine Market Size, Share, and COVID-19 Impact Analysis, By Manufacturing Method (Diethanolamine Method, Diethylene Glycol Method), By Application (Rubber Additives, Pharmaceuticals Chemicals, Corrosion Inhibitors, Optical Brighteners, Chemical Polishing Agents, Others), By End-Use Industry (Chemical, Pharmaceutical, Textile, Agriculture, Personal Care, Food & Beverages, Pharmaceuticals, Water Treatment, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Here:
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The diethanolamine method segment is dominating the market with the largest revenue share over the forecast period.
On the basis of manufacturing methods, the global morpholine market is segmented into the diethanolamine method and the diethylene glycol method. Among these, the diethanolamine method segment is dominating the market with the largest revenue share of 78.6% over the forecast period. This can be due to the expansion of cosmetic enterprises and changing aesthetic preferences, which has led to an increase in the use of diethanolamine for morpholine. Diethanolamine is an effective corrosion inhibitor. It's also used as an emulsifier in many cosmetics and medications. It can be used as a lubricant in the textile industry.
The optical brighteners segment accounted for the largest revenue share of more than 37.2% over the forecast period.
On the basis of application, the global morpholine market is segmented into rubber additives, pharmaceuticals chemicals, corrosion inhibitors, optical brighteners, chemical polishing agents, and others. Among these, the optical brighteners segment is dominating the market with the largest revenue share of 37.2% over the forecast period. In comparison to other coatings, morphline is used on glassware and other optical components as a form of polishing agent to improve the shine and cleanliness of their surfaces.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Over the projection period, Asia Pacific will hold more than 43.7% of the market. Asia Pacific dominates the global morpholine market, accounting for a considerable amount due to the presence of major industrial centers, particularly in China and India. North America, on the other hand, is expected to grow the fastest throughout the projection period due to the rapid expansion of these regions' end-use industries. The presence of extremely profitable competitors in the region is increasing North America's morpholine market share.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Morpholine Market include Huntsman Corporation, Nippon Nyukazai, Balaji Amines, Anhui Haoyuan, Zhengzhou Fuyuan Co., Ltd., Sinochem, GJ Chemical, SAE Manufacturing Specialties Corp, BASF Corporation, Reagents (US), Coventya, Xiamen AmoyChem Co., Ltd, Spectrum Chemical Mfg. Corp., Hefei TNJ Chemical Industry Co., Ltd., and among others.
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Key Market Developments
On February 2023, Nippon Nyukazai, a chemical company, obtained ISCC Plus accreditation for products such as acrylic acid, ethylene oxide, and superabsorbent polymers in order to promote the use of biomass as a raw material for disposable diapers, detergents, and a variety of other items. With this, the company hopes to increase the usage of bio-mass generated raw materials in the production of environmentally friendly products such as morpholine for its customers.
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