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The Amines Market size is estimated to grow at a CAGR of 5.09% between 2023 and 2027. The market size is forecast to increase by USD 2,782.09 million.
The growth of the market depends on several factors, including the burgeoning demand for amines in agrochemicals, the use of green chemicals as water treatment chemicals, and the increasing demand and usage of amines in the construction sector.
This report extensively covers market segmentation by Product (ethanolamine, fatty amines, specialty amines, and ethyleneamines), Application (pesticides, surfactants, personal care, lubricants, and others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America).
Amines are functional groups and compounds holding a basic nitrogen atom with a lone pair. Amines are basically the derivatives of ammonia (NH3), where one or more than one hydrogen atoms are replaced with a substituent such as groups of aryl or alkyl. They are then referred to as alkylamines and arylamines. Also, alkyl aryl amines are the amines in which all forms of substitutes are bound to one nitrogen atom.
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.
The demand for amines in agriculture has surged due to the proliferation of glyphosate-resistant crops like soy, corn, and cotton, spurring herbicide need. 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 amines market in the forecast period.
Increasing demand from the pharmaceutical industry is a major trend influencing the 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.
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 amines market's expansion amid the forecast period.
The hazardous nature of amines is a key challenge hindering the 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.
Jurisdictions like the EU and 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 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 odour. 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 3,685.01 million in 2017 and continued to grow by 2021. 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 amines 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 33% 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 amines 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 amines 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.
The outbreak of COVID-19, particularly in India and China, had detrimental effects on manufacturing across APAC. Escalating COVID-19 fatalities prompted lockdowns in countries like India, Japan, and China, resulting in manufacturing closures. Consequently, APAC's polyethylene packaging production suffered in 2020. Nonetheless, the easing of lockdowns due to vaccination campaigns and increased investments in 2021, coupled with government support for sectors like construction, oil & gas, and agriculture, have fostered economic recovery. These factors are anticipated to propel the amines market growth in APAC in the coming years.
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.
Akzonobel- 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 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. 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 report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Amines Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.09% |
Market growth 2023-2027 |
USD 2,782.09 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.12 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 33% |
Key countries |
US, China, India, UK, and Germany |
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 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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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