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The global polyetheramine market is driven by its wide array of applications in end-user industries, such as epoxy coating, resin, elastomer, sealants, ink and adhesive industry. Polyetheramine is primarily used for manufacturing polyamides, polyuria and epoxy curing for coating industries. Polyetheramine are curing agents that are colorless in nature and contain compounds, such as amine moieties and polyether that are widely used to increase toughness, flexibility, hydrophilicity or hydrophobicity. Polyetheramines are also used as fuel additives for cleaning valves, injectors and carburetors. Epoxy coatings are used in carbon fibers, fiber glass, and various other composite materials. These polyetheramine products are widely used in automotive, construction, and paints & coating industries.
On the basis of application, the global polyetheramine market has been segmented into composites, epoxy coating, polyuria, sealants, and adhesive. The broad range of properties of polyetheramines tends to drive the growth of the market. Epoxy coatings are durable coatings, which can be used for a range of purposes from durable paints to strong adhesives and coatings for metals and floor. It is also used to seal the surface of fresh concrete and prevent rapid loss of moisture. The other uses of polyetheramine include cement additives, demulsification of oilfield and acid neutralization.
The major factors behind the growth of the polyetheramine market would depend on the considerable growth in end-user applications and market penetration of industries consuming polyetheramine. The growing demand for epoxy coating and several composite materials are expected to increase the necessity of polyetheramine around the globe. In addition, the increasing population in the emerging economies, improved growth in industrial manufacturing, local end-user production are projected to drive the consumption of polyetheramine. The industries such as acid neutralization, cement additives is also anticipated to contribute towards the growing demand for polyetheramines.
Based on application, the global polyetheramine market has been segmented into Polyurea, Epoxy Coatings, Adhesives and Sealants, Composites, Fuel additives and Others. Among the various applications of polyetheramines, the epoxy coating held the largest share in the global market in 2015. The epoxy coating application segment was largest valued segments in terms of volume and value in 2015, and it is expected to grow at a CAGR of 10.8%, in terms of value, during the forecast period.
The global polyetheramine market was valued at $660.4 million in 2015, and it is expected to grow at a CAGR of 10.5% during the forecast period. In terms of volume, Asia-Pacific accounted for the largest share in the global polyetheramine market in 2015. The major reason behind the growth of the market in the region is the growing demand for polyetheramine in the other Asia-Pacific countries, such as India, Indonesia, Malaysia and Thailand, due to the growing demand for end-user applications, such as, paints & coatings, adhesives & sealants, automobile, construction, and agriculture.
Some of the major competitors in the polyetheramine market include Huntsman Corporation, BASF SE, Yantai Minsheng Chemicals Co., Ltd., Yangzhou Chenhua New Materials Co. Ltd, Qingdao IRO Surfactant Co. Ltd., Wuxi Acryl Technology Co. Ltd, Zibo DexinLianbang Chemical Industry Co. Ltd., Clariant, and IRO Group Inc. among others.