Global Amines Market size was valued at USD 15.3 Billion in 2023 and is expected to reach USD 25.6 Billion by 2032, at a CAGR of 4.6% during the forecast period 2023 – 2032.
Amines Market: Overview
Amines are chemical compounds formed by substituting one or more hydrogen atoms with alkyl or aryl groups. They can be identified by the existence of a nitrogen atom attached to carbon atoms. Amines serve important roles in many chemistry procedures and are widely utilized in business and academics.
An increasing emphasis on sustainability and environmental responsibility is driving up demand for bio-based and eco-friendly amines manufactured from renewable resources.
Furthermore, the growing need for specialized amines in medicines, agrochemicals, and personal care items is spurring innovation and research into the creation of new amine molecules with particular functions.
Moreover, the Asia-Pacific area is emerging as a major market for amines as a result of rising urbanization and industrialization, notably in China and India. Furthermore, strict emissions and safety laws are affecting the use of amines in a variety of industrial processes, such as gas treatment and water purification.
Ultimately, these developments are altering the amines industry, creating new growth prospects and propelling technical improvements toward environmentally friendly and specialized applications.
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By type, ethanol amines segment held highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032.
Ethanolamines dominate the amines market owing to their diverse use as intermediate in a variety of sectors, such personal care goods, agriculture, and gas treatment. They are essential elements in the manufacturing of surfactants, herbicides, and ethanolamine-based compounds.
By application, pesticides segment held highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Amines are frequently used as important constituents in pesticides because they are efficient solvents, intermediates, and active agents. Amines improve the efficacy and stability of pesticides, which drives demand in the amines industry.
Asia-Pacific dominates the amines industry owing to its strong industrialization, rising demand in industries such as the agricultural sector, pharmaceuticals, and chemicals, as well as supporting government policies and the region’s status as a manufacturing center.
Dow Chemical Co.’s new integrated specialized alkanolamines plant in Plaquemine, Louisiana, has successfully completed all design testing and is now fully operating. Dow stated the new manufacturing unit is the only one in North America that produces both alkyl alkanolamine and isopropanolamine chemicals, but it did not specify how much capacity the plant had.
Isopropanolamines are used in water-based metalworking fluids to prevent corrosion and increase lubricity. They can also be used to minimize resistance in buffing, cutting, and cleaning fluids.
CMI has comprehensively analyzed Global Amines market. The driving forces, restraints, challenges, opportunities, key trends have been explained in depth to depict in depth scenario of market. Segment wise market size and market share during the forecast period is duly addressed to portray the probable picture of this Global Amines industry.
The competitive landscape includes of key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively with respect to their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Amines Market:
- BASF SE
- The Dow Chemical Company
- Huntsman Corporation
- Akzo Nobel N.V.
- Solvay S.A.
- Eastman Chemical Company
- Clariant AG
- Evonik Industries AG
- Arkema Group
- Tosoh Corporation
- Mitsubishi Gas Chemical Company Inc.
- SABIC (Saudi Basic Industries Corporation)
- Celanese Corporation
- LANXESS AG
- Alkyl Amines Chemicals Limited
- Kao Corporation
- DuPont de Nemours Inc.
- India Glycols Limited
- Taminco Corporation
- Global Amines Company Pvt. Ltd.
- Others
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