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(MoneyNewsWire.Net, May 30, 2018 ) The global polyetheramine market is projected to reach USD 1,074.0 Million by 2022, at a CAGR of 9.3% from 2017 to 2022. The growing use of polyetheramine in different applications such as epoxy coatings, composites, polyurea, and adhesives & sealants for construction and wind energy industry is driving the market for polyetheramine. The use of polyetheramine-based composites in the wind energy industry in the last few years has increased owing to its properties.
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Epoxy coatings is the largest application segment of polyetheramine worldwide. Increasing developments in modern homes and offices construction are driving the market for this segment. The versatility and unique physical properties of polyetheramine allow manufacturers creates new products. Polyetheramine adds flexibility as well as improve fatigue and burst resistance in the material. New polyetheramine cured rubber such as epoxy asphalt composites (EACs) which are ready to use are also driving the market.
On the basis of type, the polyetheramine market has been segmented into monoamine, diamine, triamine, and others. Diamine is projected to be the fastest-growing type segment of the polyetheramine market from 2017 to 2022. The major driver for the diamine segment is its increasing use in wind blade composites. This segment is also boosted by the growing expenditure in epoxy coatings for building & construction industry.
North America, Europe, Asia-Pacific, South America, and Middle East & Africa are considered the main regions for the polyetheramine market report. The Asia-Pacific region leads the polyetheramine market, in terms of both value and volume, owing to the increased population and rising demand for renewable energy, residential buildings, and the improving lifestyles. The rising demand for high-quality polyetheramine products with superior fatigue and burst resistance properties has triggered the demand for polyetheramine. Composite applications are also contributing to the growing demand for polyetheramine in the Asia-Pacific region.
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Innovative coating technologies, renewable energy demand, and construction solutions for infrastructure development are expected to lead to the growth of the polyetheramine market in the future. On the other hand, environmental regulations are the major restraints for the polyetheramine market. The energy saving initiatives and sensitivity towards energy efficiency resonates globally. These act as restraints for the growth of the polyetheramine market.
The global polyetheramine market is led by the players such as Huntsman Corporation (U.S.), BASF SE (Germany), and Wuxi Acryl Technology Co. Ltd (China). Diverse product portfolios, strategically positioned R&D centers, adoption of development strategies, and technological advancements have helped these companies strengthen their market positions in the polyetheramine market. These companies are adopting various organic and inorganic growth strategies, such as expansions, partnerships, and new product launches to enhance their market share.
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