APAC Is Dominating Polyetheramine Market
The global polyetheramine market is experiencing growth and is projected to reach USD 2,183.6 million by 2030, growing at a CAGR of 9.0% during the projection period. This growth can be credited to the increasing infrastructure growth, high research, and development investment, surging consumer expenditure, and its growing utilization in the wind power, building & renovation industries, and automotive & transportation, because of its excellent burst resistance, wear & tear resistance, fatigue tolerance, and high durability. Furthermore, applications, like cement additives and acid neutralization, are also estimated to contribute to the growing demand for polyamines.
In recent years, the epoxy coatings category held the largest market share, and it is additionally projected to advance with a significant CAGR during the projection period. This is credited to the growing demand for aquatic epoxy coatings, the rising end-use sectors, the rising demand from developing nations like India and China, and the increasing infrastructural growths where these coatings are extremely utilized.
Moreover, the increase in the count of local builders in emerging nations and the surge in the requirement for epoxy powder-based coatings, credited to their non-VOC emission properties, are helping the industry development.
Developing countries have a robust requirement for infrastructure and development, as a result of the rising populace, growing purchasing power of people, and increasing FDI. This directs to the growing demand for polyether amines, which are needed for construction drives. Furthermore, substantial development in demand for epoxy coatings, sealants, resins, adhesives, and others, from end-use industries, is catalyzing the market expansion.
In recent years, the diamine category generated the largest revenue share, and the category is projected to dominate the polyether amine market with a CAGR of more than 8% during the projection period. This is credited to the growing employment of diamines in wind blade composites and the rising demand for renewable power.
Furthermore, the emerging ecological diamine chain extenders because of tissue manufacturing applications, and their increasing manufacturing applications like surfactants, polyamides, agrochemicals, medicines, and other compounds, are other reasons accountable for the highest industry size of this category.