Global Polyetheramine Market 2022 to Gain Momentum amid COVID-19 Pandemic- Exclusive Report by MarketsandMarkets™

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Investments & expansions, partnerships, and new product launches were the key strategies adopted by industry players to achieve growth in the polyetheramine market between 2012 and 2016. The key players, such as Huntsman Corporation (U.S.) and BASF SE (Germany), have adopted these strategies to develop their businesses, globally. Increasing demand for advanced coatings, improving living standards of populations, and the use of composites in wind energy blades have led to a rise in the demand for polyetheramine

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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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.

Huntsman Corporation is a major player in the polyetheramine market. The company’s wide range of business segments provides an added advantage to the company’s profit margin, which enables it to compensate losses from low performing business segments and enables investments in strategic expansions and R&D activities. The performance products business segment includes polyetheramine products. The company earned around 24% of its revenue from performance products business segment in 2015 and is planning to invest further in this segment to enhance its sales globally. The company follows growth strategies such as capacity expansions and investing in R&D activities to meet the growing demand, improve product cost competitiveness, and enhance its product portfolio for new applications to cater to the market. In May 2015, Huntsman Corporation expanded its production capacity of Conroe chemical plant, which has polyetheramine manufacturing facility. 

BASF SE is another major player in the polyetheramine market. Europe accounted for 44% of the overall company revenue in 2015. The chemical business segment of the company manufactures polyetheramine for various applications and end users. This business segment earned around 22% of its revenue in 2015. The company’s business strategy mainly revolves around its targets to increase global reach, enhance revenue, and launch innovative solutions through its products. As a part of its growth strategy, the company plans to establish new production facilities and expand its existing plant capacities which could enable the company to take advantage of the opportunities in the high growth polyetheramine market. In April 2016, BASF SE inaugurated a new plant to produce specialty amines in the Nanjing Chemical Industry Park in Nanjing, China, as part of a move to open first specialty amines plant in Asia-Pacific. This expansion is expected to meet the growing market demands of polyetheramine in personal care, construction, wind energy, and coatings sectors. 

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Apart from the above mentioned market players, Wuxi Acryl Technology Co., Ltd. (China), Clariant (Switzerland), Yangzhou Chenhua New Materials Co., Ltd (China), and IRO Surfactant Co., Ltd. (China) are the other important players in this market.

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