Polyetheramine Market Size, Share, Trends Analysis Report 2020-2027
The Global polyetheramine market size was estimated at USD 1.02 billion in 2019 and it is expected to grow up to USD 1.6 billion by 2027 growing at a cagr of 8.9% between 2020 to 2027.
The polyetheramine is a curing agent that is made of polyether and amine molecules. polyetheramine is highly flexible, hydrophobic, tensile resistant, and wear and Tear-resistant in nature. Owing to such specialized features offered by polyether amines, they are finding high significance in various industries. The growing application of polyetheramine in various Industries is anticipated to boost the polyetheramine market growth over the forecast period. Considering their tensile strength and flexibility, the polyetheramine is mostly used in composite applications
The growing pollution and global warming effects have redirected many countries to move towards more sustainable energy sources such as wind power. polyetheramine acts as a key additive used in the adhesive used to join windmill blades together. The growing demand for polyetheramine based composites from the wind energy sector is anticipated to boost the market growth over the forecast period. The polyetheramine is widely used as a replacement for concrete, wood, metal in specialized applications such as Aerospace, wind energy industry, Automotive, and transportation industry, and construction industry. polyetheramines are lightweight and environmental degradation resistant.
The increasing importance of green energy has motivated automotive companies to manufacture electrical vehicles that have minimum impact on the environment. Electric vehicles are run on battery and therefore in order to improve the performance of the vehicle, it is highly necessary to reduce the overall weight of the vehicle. Polyetheramine being the lightweight composite, is gaining high importance from the automotive industry for the manufacturing of electric vehicles.
Based on the polyetheramine types the market has been segmented into Monoamine, Diamine, Triamine. The diamine segment accounted for the largest Market share in 2019, these types of polyetheramine are used in applications such as the preparation of epoxy coatings, adhesives & sealants, and polyuria. The monoamine and triamine segments are growing at a moderate growth rate over the forecast period.
On the basis of application type, the polyetheramine market has been segmented into composites, polyuria, epoxy coating, adhesive & sealants, and fuel additives. The composite is one of the largest application segment for the polyetheramines. The polyetheramine is used as an additive in the composites to be used for joining different parts of windmill blades together. The polyetheramines are widely used in construction projects as the polyetheramine acts as an additive for the epoxy used in construction work to prevent moisture loss from the concrete surface.
The Asia Pacific polyetheramine market dominated the global market i9n 2019, growing installation of windmills in the region for sustainable development is anticipated to boost the market growth over the forecast period. Moreover, increasing urbanization in Asian countries such as China, India, and Indonesia is further growing the demand for the polyetheramine market over the next few years. The government policies in such countries are highly supportive of renewable energy such as solar energy, therefore the regional market holds huge growth potential.
The Global Polyetheramine market is dominated by companies such as Dasteck, Yangzhou Chenhua New Material Co., Ltd., and BASF SE. The companies manufacturing polyetheramine compete on the basis of product quality, flexibility, and other features as well as pricing. Most of these companies have a supply contract with the customers and therefore there are only a few new companies that enter this market.
Get a tailor-made report suitable to your budget. Connect with us to buy specific chapter, a country level report or just the datasheet of this report.