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The Amines market size is forecast to increase by USD 2.49 billion, at a CAGR of 4.36% between 2023 and 2028. The market's expansion hinges on various factors, notably the escalating need for amines in agrochemicals to bolster agricultural productivity. Additionally, the adoption of green chemicals as water treatment agents amplifies their significance in sustainable environmental practices. Moreover, the rising demand for amines in the construction sector, attributed to their diverse applications, contributes significantly to market growth. These trends reflect a broader shift towards eco-friendly solutions across industries, aligning with environmental regulations and consumer preferences. However, challenges such as ensuring the efficacy and safety of these chemicals, managing production costs, and addressing regulatory compliance remain pivotal in shaping the market's trajectory and fostering sustainable growth.
The Market continues to be driven by the growing demand for food and health safety, prompting increased use of amines in crop protection chemicals, pesticides, and surfactants essential for food safety measures. As the world population rises, so does the need for agricultural sector advancements, including better uptake and absorption methods aided by amines in fertilizers. Challenges include managing environmental impact, ensuring raw material availability like monoethanolamine and triethanolamine, and addressing complexities in chemical processes for optimal amine production. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Burgeoning demand for amines in agrochemicals is a key factor driving the growth of the market. Fatty amine ethoxylates, non-ionic surfactants, serve diverse roles as wetting agents, dispersants, sanitizers, stabilizers, and defoamers across industries like textiles, chemicals, paints, metals, and more. They're also vital as emulsifiers, notably in agrochemicals for creating wettable powders and toxicant emulsions for pest control.
Moreover, the demand for amines in agriculture has surged due to the proliferation of glyphosate-resistant crops like soy, corn, and cotton, spurring herbicide needs. Growing fertilizer use, driven by shrinking agricultural land and food security concerns, is a global trend. Emerging markets show promise as support and awareness for agriculture increases, favoring amines. Bio-based agrochemicals gain traction for eco-friendliness, propelling manufacturers to expand and innovate. These dynamics are projected to bolster the global market in the forecast period.
Increasing demand from the pharmaceutical industry is a major trend influencing market growth. Amines, prolific nitrogen-based organic compounds, indirectly generate NH3. They form by substituting NH3 hydrogen with alkyl molecules. Amines play a pivotal role in the pharmaceutical sector, with aryl group-containing structures found in drugs like aripiprazole, rosuvastatin, and lidocaine. They act as solvents and catalysts, aiding drug production for compounds like Pseudoephedrine and benzonatate.
Moreover, rising health awareness fuels amines' pharmaceutical market growth. Their gelling, stabilizing, and texture-enhancing qualities support tissue regeneration, allergy relief, dental care, and bone repair. The pharmaceutical industry's demand drives the global market's expansion amid the forecast period.
The hazardous nature of amines is a key challenge hindering market growth. Primary aromatic amines (PAAs) serve as crucial chemical feedstocks but some possess carcinogenic and highly toxic properties. Azo dyes, benzidine derivatives, and aromatic amines can release harmful substances upon azo bond splitting, posing environmental and health risks.
However, jurisdictions like the EU and the US have enforced measures to counter these effects. Consequently, EU acceptance of azo dye-based aromatic amines and benzidine is restricted. Global regulations around PAAs due to health concerns limit their use. Stricter environmental rules linked to amine production are anticipated to hinder amine production and consumption, adversely affecting the market during the forecast period.
The Market is a critical segment within the chemical industry, with a wide range of applications and significance across various sectors. Amines, characterized by their organic compounds containing at least one nitrogen atom, find extensive use in diverse fields due to their unique properties. Crop protection chemicals rely significantly on amines, particularly in the formulation of pesticides that are crucial for ensuring food safety and protecting arable land. Amines are also integral to the agricultural sector, playing roles in fertilizers and aiding uptake and absorption processes in plants. In industrial applications, amines are vital components in the production of plastics like polyurethane and insulation materials such as methylene diphenyl isocyanate (MDI). Their presence is also notable in the formulation of surfactants, which are essential in various sectors including food and health safety.
The market share growth by the ethanolamine segment will be significant during the forecast period. Ethanolamine is formally 2-aminoethanol and a viscous, alkaline liquid with an unpleasant, NH3-like odor. Ethanolamine is miscible in all proportions with water and several oxygenated organic solvents, including methanol, acetone, and glycerol.
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The ethanolamine segment was valued at USD 3.82 billion in 2018. They are used in personal care products and cosmetics, in which ethanolamines remove dirt and oil from the skin by dissolving grease and blending other important ingredients. Due to the fact that ethanolamines do not give rise to strong odour, they are found in many products, such as hair dye. In addition, these ingredients are also common in household cleaning products such as floor and tile cleaners or laundry detergents. Ethanolamines have been used as a surfactant in these products for the removal of dirt, grease and stains. Diethanolamine is used as a common ingredient in industrial cleaning products, such as engine degreasers and industrial strength detergents, due to its ability to break down oil and grease, due to its ability to break down oil and grease. These factors will positively affect the growth of the ethanolamine segment of the global market during the forecast period.
Based on the application, the pesticides segment dominates the market. The increasing demand for food-based biofuels is spurring the demand for pesticide amines. The adoption of amine-based agrochemicals is growing significantly in certain countries, which is likely to boost the growth of pest-resistant crops. Technological advances in global agricultural practices are intensifying the demand for pesticides from emerging economies, such as Africa, India, Brazil, and China, as these countries are focusing on food production to meet the growing demand of the rising population.
APAC is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The APAC region presents substantial opportunities in various applications within the global market. It holds global dominance in both demand and product development, driven by industries like water treatment, agrochemicals, oilfield chemicals, and asphalt additives. Favorable factors, including relaxed regulations, an extensive customer base, and cost-effective labor, have prompted major vendors to establish manufacturing bases in APAC. APAC's market is expected to exhibit a higher CAGR than other regions, propelled by their increasing use in cleaning products, pesticides, and personal care items. The region's infrastructure growth, coupled with China's emergence as a global manufacturing center, further enhances amines consumption. China leads as the largest consumer and producer of amines, serving as a vital export hub for cosmetics and personal care goods to developed nations. Ethyleneamines play a key role across diverse sectors in China, such as pharmaceuticals and automotive. Local players like Hurricane Chemicals and Lianmeng Chemicals contribute significantly, with notable ethylenediamine capacity.
Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Akzo Nobel NV- The company offers medical spa such as hydro fusion treatments.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Akzo Nobel NV, Arkema Group, Ascensus Specialties LLC, BASF SE, Biosynth Ltd., Celanese Corp., ChemImpex International Inc., Dow Chemical Co., Eastman Chemical Co., Enamine Ltd, Huntsman International LLC, INEOS Group Holdings SA, LGC Science Group Holdings Ltd., Merck KGaA, Otsuka Holdings Co. Ltd., Solvay SA, SynQuest Laboratories Inc, Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd., and Toronto Research Chemicals Inc.
Qualitative and quantitative market research and growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. In market growth analysis, data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
1. APAC Amines Market by Type and Geography - Forecast and Analysis
2. Trimethylamine Market by Application and Geography - Forecast and Analysis
3. Isopropylamine Market by End-user and Geography - Forecast and Analysis
The Market is influenced by a myriad of factors spanning food and health safety, industrial development, and global population growth. With applications in crop protection chemicals, polymers like polyurethane, and various industries such as pharmaceuticals and personal care, amines play a crucial role in diverse sectors. Innovations in chemical processes, particularly in petrochemicals and oleochemical production, drive market dynamics, bolstered by rising demand in gas treatment and surfactants. The market landscape depends on the General public, Plastic, alkyl groups, aryl groups, Hard water, and Raw materials. However, challenges like regulatory constraints, environmental concerns in wastewater disposal, and the need for corrosion inhibitors in refinery and industrial applications pose notable constraints. Nevertheless, the market's future holds promise, especially with the shift towards bio-based products, sustainable crop protection solutions, and advancements in industrial maintenance and engineering.
Furthermore, the Market encompasses a broad spectrum of applications across end-use industries ranging from plastics, polymers, and rubber to paints, coatings, and industrial cleaners. Methylene diphenyl isocyanate (MDI), a key component in insulation materials, is part of the MDI segment driving market growth. Amines, categorized into alkyl, aryl, secondary, tertiary, and aliphatic groups, witness rising demand due to their versatility and role in innovation across sectors like pharmaceuticals, personal care, and agriculture. Regulatory environments and restraining factors influence market dynamics, yet there's a surge in surfactant demand, especially for gas treatments, foaming agents, and corrosion inhibitors. The market extends to niche areas like eyeliners, foundations, shaving products, and hair-care products within the personal care sector.
Market Scope |
|
Report Coverage |
Details |
Page number |
178 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.36% |
Market growth 2024-2028 |
USD 2.44 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.11 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 34% |
Key countries |
China, US, UK, Germany, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Akzo Nobel NV, Arkema Group., Ascensus Specialties LLC, BASF SE, Biosynth Ltd., Celanese Corp., ChemImpex International Inc., Dow Chemical Co., Eastman Chemical Co., Enamine Ltd, Huntsman International LLC, INEOS AG, LGC Science Group Holdings Ltd., Merck KGaA, Otsuka Holdings Co. Ltd., Solvay SA, SynQuest Laboratories Inc, Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd., and Toronto Research Chemicals Inc. |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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