Monoethanolamine Market size was valued at USD 2.5 Billion in 2024 and is projected to reach USD 3.8 Billion by 2033, exhibiting a CAGR of 5% from 2026 to 2033.
Monoethanolamine (MEA) plays a pivotal role in South Korea's industrial landscape, serving as a fundamental component in various sectors. As of 2024, the global MEA market reached approximately 2.04 million metric tons, with projections indicating growth to around 2.85 million metric tons by 2034, driven by a compound annual growth rate (CAGR) of 3.40% between 2025 and 2034. This upward trajectory reflects the escalating demand across multiple industries.
In South Korea, the application of MEA spans several key industries:
Detergents and Personal Care: MEA is integral in producing surfactants, which are essential for manufacturing detergents and personal care items. The nation's growing emphasis on hygiene and personal care has amplified the demand for these products.
Agrochemicals: MEA serves as a crucial intermediate in herbicide formulations, supporting South Korea's robust agricultural sector.
Textile Industry: The compound is employed in textile processing, contributing to the country's vibrant textile market.
Gas Treatment: MEA is utilized in gas scrubbing processes to remove carbon dioxide and hydrogen sulfide from natural gas and refinery streams, aligning with the nation's energy sector requirements.
Metalworking: In metal cutting and lubrication, MEA acts as a corrosion inhibitor, enhancing the longevity and performance of machinery.
Export dynamics reveal that South Korea shipped 288 MEA consignments from March 2023 to February 2024, marking a 39% increase compared to the previous year. Vietnam, the United States, and the Netherlands emerged as primary importers, collectively accounting for a significant portion of these exports. Notably, Vietnam led with 515 shipments, representing a 56% market share, followed by the United States with 332 shipments (36%) and the Netherlands with 30 shipments (3%).
Despite this growth, the market faces challenges, including price volatility influenced by fluctuating raw material costs and global supply chain disruptions. Additionally, stringent environmental regulations necessitate continuous innovation and adherence to sustainable practices within the industry.
South Korea's MEA market is poised for sustained growth, underpinned by its diverse industrial applications and expanding export footprint. However, stakeholders must navigate the complexities of regulatory compliance and market dynamics to capitalize on emerging opportunities effectively.
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DowDuPont
BASF
Ineos
LyondellBasell
GaoQiao Petrochemical
Nippon Shokubhai
AkzoNobel
Huntsman
Jiaxing Jinyan Chemical
Helm AG
Sasol
Fushun Huafeng
Mitsui Chemicals
Amines & Plasticizers Limited (APL)
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Monoethanolamine Market
Personal Care Products
Agriculture & Pest Control
Pharmaceuticals
Construction Chemicals
Textile Processing
Detergents and Cleaning Agents
Industrial Grade
Pharmaceutical Grade
Cosmetic Grade
Chemicals
Healthcare
Agriculture
Manufacturing
Food and Beverage
Liquid Monoethanolamine
Solid Monoethanolamine
Online Sales
Offline Retail
Direct Sales
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Monoethanolamine Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Monoethanolamine Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Monoethanolamine Market, By Type
6. South Korea Monoethanolamine Market, By Application
7. South Korea Monoethanolamine Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Monoethanolamine Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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