The global polyetheramine market is projected to generate $2,183.6 million revenue by 2030, advancing at a CAGR of 9.0% during 2021–2030. This can be ascribed to its widespread applications in end-use industries, such as epoxy coatings, resins, sealants, elastomers, inks, and adhesives; the expanding wind energy and building & construction sectors; and the rapid industrialization and urbanization across the world.
Based on type, the market is categorized into monoamine, diamine, triamine, and others. Among these, the diamine category held the largest revenue share in 2021, and it is further expected to dominate the market during the forecast period as well. This is ascribed to its high usage in epoxy coatings, adhesives and sealants, and polyurea applications, due to its characteristic properties such as low viscosity and miscible with a variety of solvents. Additionally, it is used to impart hydrophilicity to a variety of polymers and additives.
Based on application, the market is classified into polyurea, epoxy coatings, adhesives and sealants, composites, fuel additives, and others. Of these, the epoxy coatings category held the largest revenue share in 2021, and it is also expected to dominate the market in the coming years. This is due to the surging demand for waterborne epoxy coatings, the growing end-use industries, the rising demand from developing countries, and the increasing construction activities. Moreover, these coatings are used in carbon fibers, fiberglass, and various other composite materials. Such products are widely used in the aerospace, 3D printing, automotive, and sport equipment sectors, which aid the market demand.
In addition, the polyurea category will witness significant growth during 2021–2030. This can be due to the increasing usage of polyurea coatings, the surging use of sealing materials, and the rising demand for eco-friendly coatings in the automotive sector, on account of the growing concerns over greenhouse gas emissions.
Geographically, the APAC polyetheramine market accounted for the majority of revenue share in 2021, and it is further expected to maintain its dominance during the forecast period, advancing with a significant CAGR. This can be ascribed to the presence of a large number of market players, the rising population, the increasing local production, and the growing manufacturing industry, in the region.
Moreover, North America held a significant revenue share in 2021 in the market. This is due to the increasing need for high-performance materials for numerous industries and applications such as coatings, plastics, adhesives, resins, electronics, construction, sealants, rubber, and petrochemicals; the rising demand for paints & coatings; and the surging R&D activities associated with rising investments to develop environment-friendly bio-based epoxy resins. Moreover, the increasing demand for bio-based adhesives is likely to offer massive opportunities to manufacturers to develop new innovative products, which further results in overall market expansion in the region.
Some of the major players in the market are Huntsman Corporation, BASF SE, Yantai Kaisheng Environmental Technology Co. Ltd., Yangzhou Chenhua New Material Co. Ltd., Qingdao IRO Surfactant Co. Ltd., Wuxi Acryl Technology Co. Ltd., Clariant AG, and IRO Group Inc.