Global Aminoethylethanolamine Market Outlook

aminoethylethanolamine, commonly referred to as anoamine or aeea, is a colorless and volatile liquid. it is an intermediate consensus chemical with structure (ch3)2n(ch2)2oh and formula c2h7no. the chemical is soluble in water and alcohol and is used in chemical industries as an important precursor in the production of various chemicals. in 2018, the global aminoethylethanolamine market has been enhanced by supportive government policies in the chemicals sector, the rapid growth of the pharmaceutical industry, and the expanding demand for novel materials and coatings. additionally, aminoethylethanolamine has gained wide acceptance in the electroplating and surface treatment of metals due to its unique properties such as its ability to form fine and uniform deposits. this factor serves as a major driver of the global market. however, increasing environmental concerns accompanied by stringent environmental regulations are expected to act as a key restraint to global aminoethylethanolamine market growth over the forecast period. moreover, rising raw material and labor costs are likely to challenge market players. in terms of application, industrial coatings are expected to dominate the global aminoethylethanolamine market in 2018, due to the increasing demand for durable and corrosion resistant coatings in the automotive, shipbuilding, and consumer electronics industries. in the industrial coatings application, aminoethylethanolamine is widely used as a corrosion inhibitor in electroplating and surface coating of metals and other alloys. looking ahead, the global aminoethylethanolamine market is expected to continue to grow at a cagr of 6.1%, over the forecast period from 2018 to 2032. this growth is expected to be mainly driven by increasing demand from the automotive, shipbuilding, aerospace, and other transportation industries. additionally, increasing competition among manufacturers, technological advancements, and the emergence of bio-based products are likely to be the fundamental drivers of the global aminoethylethanolamine market during the forecast period.