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Mono-ethanolamine Market Trends

Statistics for the 2023 & 2024 Mono-ethanolamine market trends, created by Mordor Intelligence™ Industry Reports. Mono-ethanolamine trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of Mono-ethanolamine Industry

Cosmetics and Personal Care Products to Dominate the Market

  • The global cosmetics and personal care industry has been growing rapidly due to high demand from various types of consumers. Increasing awareness about the benefits of personal care products among customers is resulting in higher usage of cosmetics and personal care products, as they protect skin from harmful UV rays besides providing other benefits. This rise in demand will eventually increase demand for the mono-ethanolamine market.
  • According to the combined reports by L'Oreal and Statista, the global beauty and personal care market's revenue stood at USD 511 billion in 2021 and is anticipated to ascend to USD 784.6 billion in 2025.
  • According to Cosmetics Europe, the European market for cosmetics and personal care was valued at about EUR 80 billion (USD 94 billion) in 2021. The largest national markets for cosmetics and personal care products within Europe were Germany (EUR 13.6 billion (USD 16 billion)), France (EUR 12.0 billion (USD 14 billion)), Italy (EUR 10.6 billion (USD 12.2 billion)), the UK (EUR 9.9 billion (USD 11.8 billion)), and Spain (EUR 7 billion (USD 8 billion)).
  • Skin care and toiletries (EUR 23.2 billion (USD 27 billion)) had the largest market share in Europe in 2021, followed by hair-care products, fragrances and perfumes, and decorative cosmetics.
  • In its statistics for 2022, the German Cosmetic, Toiletry, Perfumery, and Detergent Association (IKW) also stated that the sales revenues from beauty and home care products will increase to EUR 30.1 billion (USD 32.3 billion) in 2022. Moreover, in Germany, shoppers spent EUR 14.3 billion (USD 15.3 billion) on body care and cosmetic products, which represents a 5.4% increase compared to the prior year.
  • Mexico is one of the top ten cosmetics and personal care goods markets in the world, and it is Latin America's second-largest market for beauty products. According to the International Trade Association, the total domestic production of cosmetics and personal care goods in Mexico in 2021 was around USD 7.15 billion, with a projected increase to USD 7.20 billion in 2022.
  • Moreover, Brazil is the fourth-largest market for personal care and beauty products and the third-largest country in terms of the number of product launches. Brazilian consumers are increasingly looking for value-for-money products that are natural and beneficial for the skin and provide a range of combined benefits of high-priced premium products, like anti-aging, whitening, moisturizing, etc., at a lower than premium cost.
  • Therefore, the aforementioned factors are expected to significantly impact the market in the coming years.
Mono-ethanolamine Market: Cosmetics and Personal Care Market Value, In Million Euros, Germany, 2018-2022

Asia-Pacific to Dominate the Market

  • The Asia-Pacific region stands to be the most dominant as well as the fastest-growing market for the mono-ethanolamine market due to the well-established industries such as pharmaceutical, agricultural, cosmetics, personal care, and many more in countries like China, India, and Japan.
  • China is one of the major consumers of cosmetics. According to the National Bureau of Statistics of China, in 2022, the retail sales of cosmetics by wholesale and retail companies in China totaled about 393.6 billion yuan (USD 57 billion). This, though, indicated a slight decrease compared to the previous year, which had a total retail sale of about 402.6 billion yuan (USD 58.6 billion).
  • Additionally, according to the India Brand Equity Foundation (IBEF), the country's FMCG sector consists of about 51% of cosmetics and personal care products. Due to the growing demands for the products, many companies have come up with several strategies, including expansion and product innovation, to have a strong foothold in the country. For instance, in July 2022, Godrej Consumer Products unveiled Godrej Magic Body Wash, India's first ready-to-mix body wash, at just Rs. 45 (USD 0.57).
  • According to the Ministry of Economy, Trade, and Industry (METI), the size of Japan's cosmetics and personal care products market was over USD 35 billion in 2021, making it the world's third-largest country in the cosmetics and personal care and cosmetics industries after the United States and China. Japan is also home to more than 3,000 beauty care companies, including global brands like Shiseido, Kao, Kosé, and Pola Orbis.
  • Mono-ethanolamine is also utilized in various other applications, such as detergents, pharmaceuticals, and many more. It is used as feedstock in the production of detergents and polishes and for the purpose of buffering and preparing emulsions in pharmaceutical formulations.
  • India has one of the world's major pharmaceutical industries. There are about 3,000 pharmaceutical businesses and around 10,500 production facilities. The domestic pharmaceutical industry in India was anticipated to be worth about USD 42 billion in 2021, rising to USD 65 billion by 2024 and USD 120-130 billion by 2030. According to the IBEF, India's pharmaceutical and medicine exports totaled USD 24.44 billion in FY 2021.

Therefore, the aforementioned factors are expected to significantly impact the market for monoethanolamine in the coming years.

: Mono-ethanolamine Market - Growth Rate by Region

Mono-ethanolamine Report Snapshots

Mono-ethanolamine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2024 - 2029)