The global ethanolamines market is predicted to generate a revenue of $5,079.0 million by 2030, increasing from $2,933.5 million in 2019, progressing at a 5.0% CAGR during the forecast period (2020–2030), as stated by a P&S Intelligence report. The market has been growing due to the rising demand for surfactants and increasing sales of agrochemicals. When type is taken into consideration, the market is divided into triethanolamine, diethanolamine (DEA), and monoethanolamine.

Out of all these, the DEA division accounted for the largest ethanolamines share of the market in 2019 and is further projected to witness the highest CAGR during the forecast period. The high demand for DEA can be attributed to its extensive application base, including detergents and soaps, treatment of refinery products and natural gas, and production of glyphosate. In addition to this, the surging production of surfactants and herbicides around the world is also leading to the high consumption of DEA.

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In terms of applications, the ethanolamines market is categorized into cement, herbicides, chemicals, surfactants, and gas treatment. Among all these, the surfactants category held the major share of the market in 2019, and it is predicted to retain its position during the forecast period as well. The rising adoption of ethanolamines for producing gel-type cleaners, industrial detergents, body lotions, shaving creams, soap bars, and shampoos is leading to the growth of this category. Moreover, as the demand for personal care products rise, the demand for surfactants will rise as well.

Geographically, the market was dominated by Asia-Pacific during the historical period (2014–2019), owing to the high-volume consumption of ethanolamines in China. The country imported about a quarter of its need that amounted to 168.4 kilotons, majorly from manufacturers in Saudi Arabia and Thailand in 2019. Furthermore, the rising requirement from end-use verticals in developing countries, including Vietnam, India, and Thailand, is also driving the demand for the compound in the region.

The increasing demand for agrochemicals is a major driving factor of the ethanolamines market. DEA is extensively being utilized for producing glyphosate, which is majorly used as an herbicide, for preventing unwanted vegetation at farmlands. The demand for glyphosate is majorly increasing from countries in North America, Latin America, and APAC for meeting the needs for yield that is being registered by the agricultural sector. Moreover, the growing awareness regarding the use of herbicides among farmers is also projected to drive the market.

A major trend being registered in the ethanolamines market is the surging demand for surfactants across the globe. Ethanolamine is used widely as an emulsifying ingredient and surfactant in various personal care products, such as laundry detergents, shampoos, and soaps. The increasing spending power of people in emerging economies is leading to the growing demand for these products, which is further projected to drive the demand for ethanolamines.

In conclusion, the market is growing due to the rising requirement for herbicides and surfactants across the globe.