Why Are Personal Care Product Manufacturers Using Ethanolamines?
According to the World Population Prospects 2019 by the Population Division of the United Nations Department of Economic and Social Affairs (UNDESA), the global population will surge from 7.7 billion in 2019 to around 9.7 billion by 2050. The booming population will create a huge requirement for agricultural products in the upcoming years. To meet the high demand, farmers are using agrochemicals in abundance. Thus, the escalating use of agrochemicals, such as glyphosate, as an herbicide, will propel the consumption of ethanolamines in the foreseeable future. In addition, the mounting demand for surfactants and emulsifying ingredients will drive the ethanolamines market at a CAGR of 5% during the forecast period (2020–2030). The market was valued at $2,933.5 million in 2019, and it is projected to generate $5,079.0 million by 2030. Ethanolamines are used as emulsifying ingredients and surfactants in personal care products, such as shampoos, soaps, and laundry detergents. Thus, the incr...