Asia Pacific Polyetheramine Market Growth Rate, Regional Analysis With Global Forecast- Exclusive Report by MarketsandMarkets™
The report “Polyetheramine Market by Type (Monoamine, Diamine, and Triamine), Application (Epoxy Coating, Polyurea, Adhesives & Sealants, Composites, and Fuel Additives), and Region – Global Forecasts to 2022”, The global polyetheramine market was valued at USD 625.8 Million in 2016 and is projected to reach USD 1,074.0 Million by 2022, at a CAGR of 9.3% from 2017 to 2022. The market is driven by the growing trend of renewable & eco-friendly energy generation and continuous improvements in the construction industry.
Diamine: Largest Type of the Polyetheramine Market
In 2016, the diamine type segment accounted for the largest market share in terms of volume, followed by the monoamine and triamine type segments. Diamines are majorly consumed in epoxy coatings, polyuria, and adhesives & sealants applications. Increasing urbanization and use of renewable energy are driving this segment.
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Composites: The Fastest-growing Application Segment of the Polyetheramine Market
The demand for wind power is high among all the clean energy sectors. The use of composites and adhesives has increased in the wind power industry. Polyetheramine is used as a precursor in composites to enhance the property, and thus is estimated to grow at the highest CAGR from 2017 to 2022, in terms of volume. The excellent properties of polyetheramine such as flexibility and improved fatigue and burst resistance are driving the demand from this segment.
Asia-Pacific: The Largest Market for Polyetheramine
Currently, the Asia-Pacific region is the largest market for polyetheramine, in terms of both value and volume. China is the largest market for polyetheramine. However, India and China are the fastest-growing markets for polyetheramine in the region.
The following factors are the main driving forces for the polyetheramine market in the Asia-Pacific region:
- Growing wind power industry in Asia-pacific
- Increasing residential building & construction activities in the region
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Huntsman Corporation (U.S.), BASF SE (Germany), and Wuxi Acryl Technology Co. Ltd (China) are the key players in the polyetheramine market.
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