Fargo, North Dakota Feb 19, 2021 (Issuewire.com) - The wide variety of triethylamine applications in the chemical industry due to its properties is the major factor responsible for driving its market growth if the chemical industry is growing. Triethylamine is used for its unique reactions and versatility, which has performance benefits such as neutralizing agent, pH regulator, grinding aid, processing agent, reactive agent, and many more increased demand in the chemical industry.
Furthermore, the increasing production capacity and sales of the chemicals worldwide are boosting the industry worldwide, which will also help increase the demand for triethylamine globally. In addition to this, the investments made in research and development will help find new applications of triethylamine in this industry, which will further augment its demand; thus, driving the growth of this market.
Impact of COVID-19
The outbreak of the coronavirus is expected to restrict the growth of the global triethylamine market. The forced lockdowns and restrictions on the movements and social distancing norms are expected to severely impact the production of chemicals due to factories' temporary shutdowns across the globe. Furthermore, it will also see fluctuations in demand and supply due to its dependence on various industries.
Key Players
- Dow Chemical Company
- BASF SE
- Eastman Chemical Company
- INEOS
- Linde Gas LLC
- Ecoasia Chemical Company Limited
- Zhejiang Jianye Chemical Co Ltd
- Shijiazhuang Sanyian Fertilizer Industry Co Ltd.
- Jinan Jinhengda Chemical Industry Co Ltd
- Changzhou Feiyu Chemical Co Ltd
- Shandong Kunda Biotechnology Co Ltd
- Thermo Fisher Scientific
- Alfa Aesar
- Shanghai Macklin Biochemical Co Ltd
- Shanghai Aladdin Bio-Chem Technology Co Ltd
Key Highlights
- The triethylamine market is projected to grow at a rapid rate during the forecast period. The growth can be attributed to the properties it holds and its requirement in the chemical and pharmaceutical industry.
- The chemical segment is expected to hold the largest market share, in applications, due to a wide variety of applications.
- The growth of the chemical industry across the globe is expected to fuel market growth.
- The Asia-Pacific is expected to see a high growth rate in the triethylamine market due to emerging economies and the growth of chemical and pharmaceutical industries in this region.
Media Contact
Straits Research krishna.r@straitsresearch.net https://straitsresearch.com/
