Amines Market is projected to be worth USD 24 Billion by 2030, registering a CAGR of 7.35% during the forecast period (2022 - 2030).
Amines are popularly known as organic compounds that are a member of the nitrogen family. These are derived from ammonia (NH3). Their structure is made up of several hydrogen atoms that are replaced by an aryl or alkyl group. These amines are put in use for various purposes such as crop protection chemicals and powders, gas treatment, wastewater purification, personal hygiene, and care products, pharmaceuticals and healthcare, dyes and paints, solvents, coatings, and many others. They also act as a catalyst or chemical intermediaries that can fasten any chemical reaction. They are popularly used for bleaching, as chelating agents, surfactants, and corrosion inhibitors.
People across the globe are being affected by Coronavirus, the global pandemic. It has negatively impacted the operations of all the industries, except for the pharmaceutical industry. There has been a complete lockdown situation in almost every part of the world and people are forced to stay at their homes. Every nation has sealed their borders which mean no international travel will be possible shortly. The businesses are also being shut down. Many people were laid off from their workplaces. This has affected the Amines Market Growth as well.
It is being anticipated that post the Covid19 situation, Global Amines Market Share will grow tremendously. As many neurotransmitters such as epinephrine, norepinephrine, dopamine, etc, are amines, therefore, it is helpful in the production of painkillers, and other anesthetic and decongestant medicines. Such medicines were actively used by the patients of Covid19.
The list of major Global Amines Market Key Players is as follows:
These companies form joint ventures or come together in partnerships for certain projects, mergers, and acquisitions to make technological advancements. They strive to develop end-products and services that are unique, cost-effective, and proficient in working and can deliver accurate solutions to the respective problems.
Amines are highly in demand for the manufacturing of agrochemicals. There are widely used in making crop protection substances. They protect the crop from any fungal infections, soil-borne rodents, or parasites. As the population is increasing rapidly, so is the demand for agricultural produce to satisfy the hunger of such a large population. This is giving a push to the Amines Industry.
With the growth of the pharmaceuticals and healthcare sector, the demand for amines is also increasing tremendously. It is used in the production of medicinal and anesthetic drugs that are used in the cure and treatment of various diseases. Amines are also used in forming novel drugs for treating chronic diseases. Its popular usage in cosmetic or personal healthcare products is also boosting the growth of its global industry.
Awareness about the hazardous effects of agrochemicals and the adoption of a healthy lifestyle by the end-users has become a major constraint in the growth of the Amine Industry. People are shifting to organic or bio-based products because they are safe for human consumption. The cost and availability of raw material also keep on fluctuating which may restrict its overall growth.
Amines are key essentials for life as they are necessary for building amino acids. These amino acids are the building blocks of proteins and other nutrients in living organisms. Amines also help in the synthesis of various vitamins. Epinephrine, norepinephrine, dopamine, histamine, serotonin, many other neurotransmitters are amines. These compounds have the potentiality to form hydrogen bond that makes them highly soluble in water. Thus, these organic compounds have a very high boiling point, even from that of phosphines. If the number of carbon atoms increases in the structures of these compounds then their solubility decreases as the chain length increases.
According to the Global Amines Market Analysis, its market can be divided into various segments. These are based on the Type and based on Application.
Based on Type, the Amines Market can be segmented into ethylene amine, ethanolamine, alkyl amines, fatty amines, specialty amines, and many others. Ethanolamines have the best emulsifying properties, thus, it has been holding the dominating share in the amine industry.
Amines are used for various purposes including wastewater treatment, manufacturing of agrochemical products, in cosmetics and personal healthcare products, petroleum, paint & coatings, gas products, pharmaceuticals, and others.
Global Amines Market Share, By Application, 2017 (%):
Source: MRFR Analysis
The Global Amines Market Value is increasing rapidly. It is leaving a huge impression in every part of the world owing to its specialization and advancements. The regions of the operation of its Global market include regions of America, Europe, Asia-pacific, and the rest of the world.
American region, which includes the area of North America (the US and Canada) and Latin America, provides the second largest market for the Amine Market. This owns to the increase in the manufacturing of various solvents.
The European region, which includes Germany, UK, France, Russia, and Italy, is also expanding but is not reaching its full potential. This is because of various REACH regulations which are hindering its usage and manufacturing.
The Asia-Pacific region includes countries such as China, Japan, India, Australia, and South Korea, which is growing tremendously throughout the forecasted period. The developing countries are providing a promising market for Amines Market and this region is expected to hold approximately one-third share of the total Amine Industry. The growth of the industrial sector and high agricultural produce are the main reasons for its growth.
The rest of the world region, which includes the region of the Middle East and Africa, is growing at a slower but constant rate owing to the lower technological development, less industrialization, and fewer government initiatives.
This report about the Global Amines Market Trends includes the following elements:
This research report provides a comprehensive study about the Global Amines Market Outlook. It includes a thorough analysis of its market trends and the areas of new advancements. The ‘Green Revolution’ has positively affected the growth of Amine’s Industry as it is used in the manufacturing of agrochemical products. Cosmetics such as creams, foundations, lipsticks, and others, make use of amine in their manufacturing. These compounds have the potentiality to form hydrogen bond that makes them highly soluble in water. Thus, they are also used in the treatment of wastewater.
|Market Size||2030: USD 24 Billion|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Hexion Inc (The US), Huntsman Corporation (US), BASF SE (Germany), DowDuPont (US), AkzoNobel N.V. (Netherland), Alkyl Amines & Chemicals Ltd (India), NOF Corporation. (Japan), Corbion (The Netherlands), Evonik Industries (Germany), Lonza Corporation (US), Balaji Amines (India), and Volant-Chem Corp. (China), Koei Chemical Company Limited (Japan), Daicel Chemical Industries Ltd (Japan), Luxi Chemical Co., Ltd (China).|
|Key Market Opportunities||Rapid growth of the water and wastewater treatment chemicals sector is also expected to fuel the demand|
|Key Market Drivers||
The amines market is projected to grow at a 7.35 CAGR between 2022-2030.
The amines market is predicted to touch USD 24 billion by 2030..
The APAC region is expected to lead the amines market.
Expanding water & wastewater treatment chemicals sector and increasing use in agro-chemicals production are adding market growth.
Fluctuating raw materials cost may limit market growth.