Triethanolamine Market Trends

Growth Drivers

• Expanding pharmaceuticals industry- The main application of triethanolamine is the synthesis of surfactants, including emulsifiers, which are principally employed in a range of topical medicinal formulations as an emulsifying agent to guarantee that the active pharmaceutical components are evenly spread. According to estimates, global pharmaceutical sales reached around USD 1 trillion in 2022.

• Growing production of polyurethane foams- In the process of creating polyol-based polyurethane foams, which are used as insulation materials, triethanolamine can be utilized as a chain extender.
• Surging applications in the textile sector- The chemical compound TEOA is highly versatile and finds its use in the textile industry, especially in the manufacturing of coloring agents and fabric softeners, and is also employed as a lubricant.
• Rising need for cleaning agents- Triethanolamine, or TEA, is an organic substance that dissolves in water, which is notably prevalent in professional and home detergents and is utilized in the production of cleaning agents, and fabric softeners.

Challenges

• The availability of substitute products - Certain products are utilized as triethanolamine alternatives such as mono- and di-ethanolamine owing to their similar compositions and popularity may restrict the adoption of triethanolamine.

• In addition, many amino alcohols and 2-amino-2methyl-1-propanol can be substituted for triethanolamine as they have several typical applications, such as grease treatment, alkalinity at low pH, and corrosion protection, which contributes to their increasing sales.

• A limited supply of triethanolamine due to varying raw material prices, may impact the triethanolamine market.
• Stringent regulations on the usage of TEOA may significantly impede market share.