Market Challenges And Opportunities

Market Dynamics

Monoethanolamine finds application in corrosion inhibitors, pharmaceuticals, textile auxiliaries, cosmetics and wood chemicals, scrubbing acidic gases (H2S, CO2). The Environmental Protection Agency (EPA) classifies monoethanolamine as a specialized industrial chemical. Monoethanolamine is used in to remove CO2 and H2S from natural gas and other gases. Monoethanolamine is a pharmaceutical adjuvant and is used as a solvent for fats and oils and in production of soaps in the formulations of various types of emulsion such as lotions and creams. Therefore, increasing demand for monoethanolamine from various end-use industries is expected to boost growth of the global monoethanolamine market over the forecast period.

However, availability of other amines as a substitute to monoethanolamine is expected to hinder the market growth. Moreover, monoethanolamine can lead to several hazardous effects such as irritation of the eyes and nose, injury to mouth, throat, digestive tract, skin, and eyes.

Use of monoethanolamine in carbon capture and storage (CCS) is expected to offer lucrative growth opportunities for market players