Global Amines Market Insights Forecasts to 2030
- The Global Amines Market was valued at USD 15.50 Billion in 2021.
- The Market is growing at a CAGR of 3.4% from 2022 to 2030
- The Global Amines Market Size is expected to reach USD 20.94 Billion by 2030
- Asia Pacific is expected to grow the fastest during the forecast period.
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The Global Amines Market Size is expected to reach USD 20.94 Billion by 2030, at a CAGR of 3.4% during the forecast period 2022 to 2030. Due to amines excellent solubility, they are ideal for use as intermediates in the production of a wide range of products, including agrochemicals, chemicals, drugs and pharmaceutical formulations, paints and coatings. Over the course of the forecast period, increasing adoption of cutting-edge agricultural techniques is anticipated to drive market revenue growth.
Amines are well-known organic molecules possessing a lone pair of nitrogen atoms. These are ammonia derivatives (NH3). These amines are structurally altered to have an alkyl or an aryl group in lieu of one or more hydrogen atoms. Because they are utilised in a wide range of crop protection chemicals, gas treatment, personal care products, wastewater treatment, medicines, dyes, solvents, paints & coatings, and many other items, amines play an important role in human existence. The market's expansion is mostly attributable to the rise in amine demand for agrochemicals. More and more agricultural pesticides are being used to protect crops against fungus- and soil-borne pests. The increasing demand for agricultural production to address the world's rising hunger is another factor driving the demand for agrochemicals. Pharmaceuticals are a further possible use for amines. It is anticipated that the need for amines would rise as the pharmaceutical industry expands and more treatments or medications to treat various disorders are produced.
The use of amines in the creation of innovative medications is encouraged by the rising frequency of chronic medical diseases. The number of operations has increased as a result of an increase in unintentional accidents, which is anticipated to fuel demand for anaesthetic medications and increase demand for amines. Growing knowledge of the negative impacts of using chemical-based goods has caused consumers to switch from conventional chemical-based products to bio-based products, which is encouraging market growth. The market expansion is anticipated to be limited by this. Additionally, the market's expansion is being limited by the shifting pricing of raw materials, which are mostly made from petroleum or its derivatives. Nevertheless, the Amines Market is seeing development due to the rising demand for amines in personal care items including foundation, face cream, hair care, and cosmetics. Additionally, the industry's explosive expansion in chemicals used in water and wastewater treatment is anticipated to increase demand. Covid-19 has also had an effect on the growth of the amines market. Since amines are a class of neurotransmitters that include adrenaline, norepinephrine, and dopamine, they may be used to make medications that are both anaesthetic and decongestant as well as pain relievers. These drugs were actively taken by the Covid19 patients.
Global Amines Market Report Coverage
|Market Size in 2021:||USD 15.50 Billion|
|Forecast Period 2022-2030 CAGR:||3.4 %|
|2030 Value Projection:||USD 20.94 Billion|
|Historical Data for:||2019-2021|
|No. of Pages:||257|
|Tables, Charts & Figures:||112|
|Segments covered:||By Product, By Application, By region|
|Companies Covered:||Eastman Chemical Company (Taminco), AkzoNobel, Shandong IRO Amine Industry Co., Ltd., Atul Limited, Nanjing Ertian Chemical Co., Ltd., Cardolite Corporation, Evonik Industries, Shaoxing Xingxin New Materials Co., Ltd, Gabriel Performance Products, Jiangsu Yoke Technology Co., Ltd., KUKDO Chemical, Changzhou Guxu Chemical Co., Ltd., Huntsman Corporation, Tosoh Corporation, Mitsubishi Chemical Corporation, Dow Inc., BASF SE, and Aditya Birla Chemicals Ltd.|
|Growth Drivers:||Increasing Surfactant Demand is expected to drive the markets growth over the forecast period.|
|Pitfalls & Challenges:||Covid-19 Impact Analysis|
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This research report categorizes the Market for global Amines based on various segments and regions, forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Global Amines Market. Recent Market developments and competitive strategies such as expansion, Product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the Market. The report strategically identifies and profiles the key Market players and analyses their core competencies in each global Amines Market sub-segments.
- In 2021, the Ethanolamine segment accounted for the largest share of the Market, with 30.6% and a Market revenue of 4.74 Billion.
Based on the product, the Amines Market is categorized into Ethanolamine, Fatty Amines, Alkylamines and Others. In 2021, the Ethanolamine segment accounted for the largest share of the Market, with 30.6% and a Market revenue of 4.74 Billion. Throughout the forecast period, the Ethanolamine Oil segment is anticipated to maintain its leading position because of a number of causes, including as Monoethanolamine and triethanolamine, two forms of ethanolamine, are mostly utilised as cleaning agents. For industrial, automotive, and marine applications, it is also utilised as a corrosion inhibitor in lubricants, machining fluids, and cooling systems. The demand for ethanolamine as cleaning agents and corrosion inhibitors is anticipated to increase due to growing health consciousness and a propensity for preventative maintenance.
- In 2021, the Crop Protection segment accounted for the largest share of the Market, with 20.6% and a Market revenue of 3.19 Billion.
Based on the application, the Amines Market is categorized Crop Protection, Surfactants, Water Treatment, Personal Care, Gas Treatment and Others. In 2021, the Crop Protection segment accounted for the largest share of the Market, with 20.6% and a Market revenue of 3.19 Billion. Throughout the forecast period, the Crop Protection segment is anticipated to maintain its leading position while expanding at the fastest CAGR this is a result of the agriculture sector's rising need for pesticides. However, it is anticipated that over the course of the next eight years, the development of bio-based products and their greater application in crop protection would have a detrimental effect on market growth.
Regional Segment Analysis of the Amines Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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North America emerged as the largest Market for the global Amines Market, with a Market share of around 32.9% and 5.09 Billion of the Market revenue in 2021.
- North America emerged as the largest Market for the global Amines Market, with a Market share of around 32.9% and 5.09 Billion of the Market revenue in 2021. The demand for Amines is being driven by the rising acceptance by the market. The market for Amines was dominated by the North America region this is explained by the increase in amine demand in the nutraceuticals and animal feed sectors. Mexico also shows considerable demand from the pharmaceutical and nutraceuticals industries, in addition to the United States and Canada. The pharmaceutical business in Canada is a globally recognised, innovative sector.
- Asia Pacific Market is expected to grow at the fastest CAGR between 2021 and 2030, Demand for amines is projected to be driven by the rapidly expanding FMCG sector in emerging markets like China and India. Additionally, it is anticipated that the water treatment application would expand rapidly because to the growing government involvement in the provision of clean drinking water in developing nations like China, India, and Indonesia.
The report offers the appropriate analysis of the key organizations/companies involved within the global Amines Market along with a comparative evaluation primarily based on their Product offering, business overviews, geographic presence, enterprise strategies, segment Market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including Product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the Market.
List of Key Market Players:
- Eastman Chemical Company (Taminco)
- Shandong IRO Amine Industry Co., Ltd.
- Atul Limited
- Nanjing Ertian Chemical Co., Ltd.
- Cardolite Corporation
- Evonik Industries
- Shaoxing Xingxin New Materials Co., Ltd
- Gabriel Performance Products
- Jiangsu Yoke Technology Co., Ltd.
- KUKDO Chemical
- Changzhou Guxu Chemical Co., Ltd.
- Huntsman Corporation
- Tosoh Corporation
- Mitsubishi Chemical Corporation
- Dow Inc.
- BASF SE
- Aditya Birla Chemicals Ltd.
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In October 2019, In order to showcase a cutting-edge and more environmentally friendly technological platform for the synthesis of ethylene amines and their derivatives, Nouryon constructed a demonstration facility in Stenungsund, Sweden. The technique based on ethylene oxide (EO) enables the selective manufacturing of a variety of end products, enabling Nouryon to increase the breadth of its product line.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Amines Market based on the below-mentioned segments:
Global Amines Market, By Product
- Fatty Amines
Global Amines Market, By Application
- Crop Protection
- Water Treatment
- Personal Care
- Gas Treatment
Global Amines Market, Regional Analysis
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of South America
Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Amines market?As per Spherical Insights, the size of the Amines market was valued at USD 15.50 billion in 2022 to USD 20.94 billion by 2030.
What is the market growth rate of the Amines market?The Amines market is growing at a CAGR of 3.4% from 2022 to 2030.
Which country dominates the Amines market?North America emerged as the largest market for Amines.
Who are the key players in the Amines market?Key players in the Amines market are Eastman Chemical Company (Taminco), AkzoNobel, Shandong IRO Amine Industry Co., Ltd., Atul Limited, Nanjing Ertian Chemical Co., Ltd., Cardolite Corporation, Evonik Industries, Shaoxing Xingxin New Materials Co., Ltd, Gabriel Performance Products, Jiangsu Yoke Technology Co., Ltd., KUKDO Chemical, Changzhou Guxu Chemical Co., Ltd., Huntsman Corporation, Tosoh Corporation, Mitsubishi Chemical Corporation, Dow Inc., BASF SE, and Aditya Birla Chemicals Ltd.
Which factor drives the growth of the Amines market?Increasing Surfactant Demand is expected to drive the market's growth over the forecast period.
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