Amines Market Size 2022-2026
The amines market share in APAC is expected to increase by USD 4.69 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.58%.
This amines market in APAC research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers amines market segmentation in APAC by type (ethanolamine, alkylamine, ethylene amine, and others) and geography (China, Japan, India, South Korea (Republic of Korea), and Rest of APAC). The APAC amines market report also offers information on several market vendors, including Alkyl Amines Chemicals Ltd., Balaji Amines Ltd., BASF SE, Hexion Inc., Huntsman Corp., Indo Amines Ltd., Koei Chemical Co. Ltd, Luxi Chemical Group Co. Ltd., NOF Corp., and Volant-Chem Corp. among others.
What will the Amines Market Size in APAC be During the Forecast Period?
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The amines market in the APAC region is experiencing significant growth, driven by applications in various industries such as sustainable crop protection and petrochemical alternatives. Monoethanolamine (MEA) is widely used in gas sweetening and MEA applications, particularly in the chemical engineering and chemical synthesis sectors. The demand for bio-based amines is increasing due to the push for green chemistry and sustainable production.
In agriculture, amine applications like weed control are crucial for sustainable agriculture, ensuring food security. Meanwhile, the rubber industry chemicals and textile industry chemicals also rely heavily on amine functional groups. As the region embraces amine synthesis and amine research, there is a growing focus on amine safety, amine regulations, and amine handling to minimize the amine environmental impact. The amine market trends reflect the increasing importance of analytical chemistry, regulatory affairs, and pharmaceutical research, which are essential for ensuring quality control and advancing drug synthesis and biopharmaceuticals.
Amines Market Dynamic
The increasing demand for pectin in convenience foods is notably driving the amines market growth in APAC, although factors such as lack of availability of raw materials may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the amines industry in APAC. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Amines Market Driver in APAC
One of the key factors driving growth in the amines market in APAC is the increasing demand for pectin in convenience foods. Convenience food is commercially prepared food that requires minimum or no further preparation for consumption. This category includes packaged meals, preserved food, and instant food products. This category of food is called convenience food because it is easy to consume, portion-packed, time-saving, and freeze- or thaw-stable and has convenient packaging. With technological advancement in the packaging industry, the range of convenience has also expanded from frozen, chilled, and shelf-stable to portion ability, easily microwaveable, prepared-mixes, and others. Pectin is extensively used in a wide spectrum of convenience foods ranging from dressings and emulsified sauces and marinades to margarine and spreads. Pectin helps in enhancing the spreadability of low-fat margarine. The functional properties of amines are driving its market demand.
Key Amines Market Trends in APAC
The increasing demand from the pharmaceutical industry is a major amines market trend in APAC that is excepted to impact the industry positively in the coming years. Amines are the most prolific members of nitrogen-based organic compounds and also constitute the indirect source of ammonia. Amines are derived by replacing one or more hydrogen molecules from ammonia with one or the other alkyl molecules. Amines are vastly used in the pharmaceutical industry. It contains a ring-like structure known as the aryl group, which is majorly seen in pharmaceuticals such as antipsychotic aripiprazole cholesterol-lowering rosuvastatin, local anesthetic lidocaine, anticancer drug imatinib, and are also used as solvents and catalysts in various drug manufacturing. The amines market is growing in the pharmaceutical industry due to increasing awareness regarding health issues.
Key Amines Market Challenge in APAC
The lack of availability of raw materials will be a major challenge for the amines market in APAC during the forecast period. Amines are largely manufactured from the peels of apples and citrus fruits such as lemons, limes, and oranges. The supply of pectin, like any agricultural product, has fluctuated at times when weather or pest disease has caused damage, leading to limited crop yields. China's production of apples for the marketing year (MY) 2020-2021 was projected to decrease by around 5% to 40.5 million as compared with around 43 million apple production for MY 2019-2020. This could be attributed to the severe frosts during the apple flowering period in April, which adversely impacted the key apple-producing provinces in northwest China and led to disruptions in the availability of apples for the projected production of pectin in the country. Furthermore, logistical disruptions and reduced consumer purchases of apples in the first quarter of 2020 due to the pandemic that also led to the unavailability of enough raw materials in 2020.
This amines market in APAC analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the amines market in APAC as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the amines market in APAC during the forecast period.
Who are the Major Amines Market Vendors in APAC?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Alkyl Amines Chemicals Ltd.
- Balaji Amines Ltd.
- BASF SE
- Hexion Inc.
- Huntsman Corp.
- Indo Amines Ltd.
- Koei Chemical Co. Ltd
- Luxi Chemical Group Co. Ltd.
- NOF Corp.
- Volant-Chem Corp.
This statistical study of the APAC amines market encompasses successful business strategies deployed by the key vendors. The amines market in APAC is fragmented and the vendors are deploying growth strategies such as focusing on distinguishing their product and service offerings through a clear and unique value proposition to compete in the market.
Product Insights and News
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Alkyl Amines Chemicals Ltd. - The company offers aliphatic amines and amine derivatives for textile industries.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The amines market in APAC forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Amines Market in APAC Value Chain Analysis
Our report provides extensive information on the value chain analysis for the APAC amines market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the specialty chemicals market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Support activities
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Amines Market in APAC?
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52% of the market's growth will originate from China during the forecast period. Market growth in this region will be faster than the growth of the market in Japan, South Korea (Republic of Korea) and the Rest of APAC.
The outbreak of diseases has driven consumers to take up various preventive measures, such as the increased use of hand sanitizers. This will facilitate the amines market growth in China over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of the COVID-19 pandemic became a huge growth catalyst for the pharmaceutical industry. The demand for several drugs was high as medicines were required in the treatment of the disease.
What are the Revenue-generating Type Segments in the Amines Market in APAC?
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The amines market share growth in APAC by the ethanolamine segment will be significant during the forecast period. Ethanolamine has several important industrial uses: as a scrubber to remove carbon dioxide, hydrogen sulfide, and other acidic pollutants from waste gas streams; as a starting material for manufacturing surfactants, chelating agents, and even pharmaceuticals; as an agent for softening leather; and as an additive for controlling pH in industrial water streams. Diethanolamine is 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.
This report provides an accurate prediction of the contribution of all the segments to the growth of the amines market size in APAC and actionable market insights on post COVID-19 impact on each segment.
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Amines Market Scope in APAC |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.58% |
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Market growth 2022-2026 |
USD 4.69 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
9.31 |
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Regional analysis |
APAC |
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Performing market contribution |
China at 52% |
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Key consumer countries |
China, Japan, India, South Korea (Republic of Korea), and Rest of APAC |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Alkyl Amines Chemicals Ltd., Balaji Amines Ltd., BASF SE, Hexion Inc., Huntsman Corp., Indo Amines Ltd., Koei Chemical Co. Ltd, Luxi Chemical Group Co. Ltd., NOF Corp., and Volant-Chem Corp. |
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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 the forecast period |
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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. |
What are the Key Data Covered in this Amines Market in APAC Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive amines market growth in APAC during the next five years
- Precise estimation of the amines market size in APAC and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the amines industry in APAC across China, Japan, India, South Korea (Republic of Korea), and Rest of APAC
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of amines market vendors in APAC
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