Morpholine Market to surpass USD 6.5 billion by 2032, Says Global Market Insights inc.
Morpholine Industry size is expected to register 6% CAGR between 2023 and 2032 propelled by the rise in the use of morpholine in corrosion inhibitors.
Selbyville, Delaware , Oct. 29, 2023 (GLOBE NEWSWIRE) — Morpholine Market will garner over USD 6.5 billion revenue by 2032, as per a recent study by Global Market Insights Inc.
As per the report, product versatility and widespread use in various industries, including pharmaceuticals, agrochemicals, rubber, and water treatment are responsible for market growth. There is an increase in demand for morpholine for the production of corrosion inhibitors and surfactants. The growing need for corrosion protection in industries such as oil and gas, automotive, and marine will also favor market growth. Additionally, the rising emphasis on water treatment with the use of morpholine as a catalyst in various chemical reactions has propelled product demand, adding to the overall revenue.
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Demand for high purity morpholine from diethylene glycol method
Based on method, the morpholine market is divided into diethylene glycol method and diethanolamine method. The morpholine industry share from diethylene glycol (DEG) method segment will grow notably through 2032. In this method, morpholine is synthesized by reacting diethylene glycol with ammonia and ethylene oxide. It offers several advantages, including the production of high-quality morpholine with extremely low levels of impurities.
The method also provides good yields and has a relatively straightforward production process. The DEG method segment caters to the increasing demand for morpholine in various applications, including rubber processing, pharmaceuticals, and corrosion inhibitors. The efficient production capabilities and the ability to meet stringent quality requirements are favoring the DEG method.
Increasing usage in chemical polishing agents application
Speaking of application, the industry is classified into optical brighteners, corrosion inhibitors, chemical polishing agents, pharmaceutical chemicals, and rubber additives. The morpholine market size from chemical polishing agents segment will expand significantly during 2023 and 2032, on account of exceptional performance and effectiveness offered by these agents in achieving desired surface finishes while ensuring minimal material loss and maintaining dimensional accuracy.
Chemical polishing agents formulated with morpholine are extensively used in various industries, including electronics, automotive, and aerospace. They help in the removal of imperfections, scratches, and oxide layers from metal surfaces, resulting in a smooth, shiny, and polished appearance. The need for high-quality surface finishes in industries where aesthetics and precision are paramount is augmenting the segment growth.
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Strict rules for environmental sustainability to drive North America industry
The report cites that North America morpholine market value will grow with strong CAGR through 2032. The robust industrial base, advanced technological infrastructure, and strong presence of key end-user industries are adding to the regional demand. Morpholine finds extensive application in various sectors, pharmaceutical industry, in particular, for its use as a building block in drug manufacturing.
Additionally, the growing focus on water treatment and corrosion prevention in industries such as oil & gas and automotive will further fuel the demand for morpholine-based products. Stringent regulatory frameworks that emphasize environmental sustainability will boost the growth of North America morpholine industry.
Morpholine Market Players
Huntsman Corporation, Anhui Haoyuan, Fuyuan, Liaoyuan, Nippon Nyukazai, APL, BASF, Balaji Amines, and Sinochem among others.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
CONTACT: Aashit Tiwari Corporate Sales, USA Global Market Insights Inc. Toll Free: +1-888-689-0688 USA: +1-302-846-7766 Europe: +44-742-759-8484 APAC: +65-3129-7718 Email: [email protected]
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