Global Ethanolamines Market Demand & Forecast Analysis, 2016-2032

Asia-Pacific is the fastest growing consumer of ethanolamines, accounting for over 50% of the global demand. It is forecast to register a growth of 4% between 2022 and 2032 to cross 1100 kilo tons by 2032. As a result of the continued shift of electronic, automotive, and other industrial production away from mature markets towards the developing countries in Asia-Pacific, the demand for ethanolamines in Asia-Pacific was estimated to around 800 kilo tons in 2021.

Ethanolamines, particularly triethanolamine (TEA), are commonly used in the formulation of cosmetics and personal care products, such as moisturizing creams and lotions, lipsticks, bar soaps, shampoos, and perfumes due to their pH-adjusting and emulsifying properties. The global cosmetics and personal care industry has experienced exponential growth in recent years, driven by factors such as growing awareness, increasing urbanization, and rising disposable income. The COVID-19 pandemic has further accelerated the growth of the personal care industry. Due to the pandemic, there has been a heightened emphasis on the importance of personal hygiene and cleanliness, with people becoming more conscious of the need to maintain good personal hygiene. This has led to a higher demand for cosmetics and personal care products, including those that contain ethanolamines, as consumers seek to maintain good hygiene practices. Moreover, the increasing global population and disposable income are expected to further drive the demand for ethanolamines in cosmetics and personal care products. Consumers around the world are becoming more aware of the importance of using environmentally friendly and sustainable products, which is also expected to drive the demand for bio-based ethanolamines in the cosmetics and personal care industry.