Amines Market

Amines Market Analysis and Opportunity Assessment By Product Type, Application, End-Use, Region, and Country – Forecast 2022 – 2032

The market is expected to generate an incremental $ opportunity of US$ 26,355.3 Mn between 2022 and 2032

Category: Chemicals & Materials Published Date : October 2022 ID: CVC-00196 Format: PDF Pages: 300

Amines Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Amines Market was worth US$ 26,740.0 Mn and is expected to grow at a CAGR of 7.1% over the forecast period. The market is expected to hit US$ 53,095.3 Mn by 2032 end. From 2017–2021, when the market’s CAGR was 5.8%, the market underwent significant growth.

Market Dynamic

THE MARKET IS DRIVEN BY WIDE-RANGING APPLICATION

Amines are used in various end-use products, including personal care products, water treatment, agricultural chemicals, cement and cleaning products, gas treatment, textiles, and wood treatment, as corrosion inhibitors, intermediates, activators, neutralizing agents, formulators, and chelating agents. Medicines, paint & coatings, and petroleum. The consumption of amines has increased over the past few years due to development in application sectors such as water treatment, agriculture, oil, and personal care. This trend is anticipated to continue throughout the forecast period.

HIGH RAW MATERIAL COST IMPACTS THE MARKET

Margin is being squeezed by fluctuating raw material costs for amine production. The cost structure of manufactured items is significantly influenced by resource pricing and availability for amine producers. Acetone, ethylene oxide, ammonia, ethanol, refined petroleum products, and butyl alcohol are the primary raw ingredients utilized to create amines. Since most of these goods are petroleum derivatives, they are susceptible to changes in product prices.

Various products, including crop protection agents and surfactants, are made using bio-based amines to counteract the harmful impacts of greenhouse gas emissions. The real benefit of bio-based amines is that they are not heavily dependent on petroleum-based supplies.

COVID-19 Impact

Due to supply chain disruptions and a drop in consumer demand, the ongoing COVID-19 pandemic crisis has hugely impacted the world economy and industrial sector.

The amines market is still the same. The market’s growth rate in 2020 has been impacted by decreased demand from end-use industries like MDI, plastic, polymer, and rubber, among others. On the other hand, the medicines industry continued to thrive because it was mostly immune from strict lock-down scenarios.

Amines Market

Market Segments Covered in Report

By Product Type

  • Aromatic Amines
  • Fatty Amines
  • Specialty Amines
  • Aliphatic Amines
  • Amine Derivatives
  • QAC

By Application

  • Crop Protection
  • Surfactants
  • Water Treatment
  • Personal care
  • Gas Treatment
  • Others

By End Use

  • MDI
  • Pharmaceuticals
  • Agrochemicals
  • Paints, Coatings, Dyes & Inks
  • Plastic, Polymer & Rubber
  • Water Treatment
  • Cosmetics & Personal care Industrial & Home care
  • Others

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why is the amine market expected to have the greatest CAGR, and why would crop protection be essential?

Amines are ideally suited for usage as intermediates in producing a wide range of goods, including agrochemicals and pesticides, thanks to their outstanding solvency. It is anticipated that rising industrialization would increase product demand for chemical production and the chemical industry’s rapid global expansion. Throughout the forecast period, the market for amines is anticipated to rise faster due to the increasing rate at which improved agricultural techniques involving agrochemicals, such as pesticides and fertilizers, are being used.

Why is it anticipated that the Water Treatment segment will grow quickly throughout the projected period?

With an expanding population, there is a growing need for purified water. It is a key driver of the amine business, which is still being used extensively for water treatment. When seen from a macro perspective, the effects of different businesses on water use have brazenly exposed the growing concern that water discharged from industrial activities directly affects natural water supplies.

Countries are becoming more concerned about the negative impacts of water contamination due to pollutants, including heavy metals and organic debris. It has led to significant financial investment in lowering the effects of discharged water on the environment and people. Amines are efficient biocides that eliminate aquatic microorganisms. Thus, the demand for amines is anticipated to increase shortly due to the increased awareness of the use of treated water worldwide.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

  • Asia Pacific led the global amines market in 2021 with a value of over USD 5 billion and is expected to grow at a CAGR of 9.2% over the forecast period. It also holds 55.4% of the global market. The increased product demand from agrochemical manufacturing applications is primarily responsible for this high growth rate.
  • Growing demand for various amines, such as diethanolamines, which are used to make glyphosate, a substance that enhances the effectiveness of herbicides, is projected to fuel market expansion in the area. Farmers’ awareness of the need to maximize crop production on the existing arable land and their growing adoption of new farming techniques will further increase demand for agricultural products.
  • One of the world’s top manufacturers and users of amines, particularly aromatic amines, is the United States. It increases with a CAGR of 4.0%. The market for amines has benefited from rising auto demand, propelling polyurethane sales.

Competition Analysis

Some of the key developments that have taken place in the Amines Market include:

  • In June 2020, In partnership with Licensing LLC and ExxonMobil Catalysts, BASF SE unveiled the OASE sulfexx, a brand-new, highly energy-efficient amine gas treatment technology. The firms collaboratively developed the amine-based solvent to assist gas processors and petroleum refiners in meeting future requirements while also boosting capacity and reducing the operating expenses of existing machinery.
  • In November 2020, In Ghent, Belgium, Eastman Chemicals increased the manufacturing of tertiary amines (DIMLA). The capacity expansion is anticipated to be finished by the end of 2021. Due to the escalating COVID-19 pandemic, the company will be able to fulfill the rising demand from its consumers for cleaning solutions such as liquid dish soap, cleaning & sanitizing sprays, hand wipes, and hand sanitizers.

A list of some of the key suppliers present in the market are:

  • BASF SE
  • Evonik Industries AG
  • Lonza
  • Akzo Nobel N.V
  • Arkema Group
  • Celanese Corporation
  • Clariant
  • Daicel Corporation
  • Dow Chemical Company
  • Huntsman International LLC
  • Eastman Chemical Company
  • INEOS
  • LyondellBasell Industries N.V.
  • Mitsubishi Gas Chemical Company Inc.
  • SABIC
  • Solvay
  • Tosoh Corporation
  • Indo Amines Limited
  • Balaji Amines
  • Amines & Plasticizers Limited
  • Alkyl Amines Chemicals Limited
  • RCF Limited

Global Amines Market 2022-2032: Report Coverage and Highlights

  • Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
  • Key drivers, restraints, opportunities, and key emerging trends impacting market growth
  • Predictions on critical supply, demand, and technological trends and changes in consumer behavior
  • Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
  • Segment-wise, country-wise, and region-wise market analysis
  • Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
  • Key product innovations and regulatory framework
  • Covid-19 impact on the market and how to navigate
  • Strategic market analysis and recommendations on crucial winning strategies
Research ScopeDetails
Forecast period2022-2032
Historical data available for2017-2021
Market analysisUSD Million for Value and Tons for Volume, and CAGR from 2022 to 2032
Key regions coveredNorth America, Latin America, Europe, Asia-Pacific, Middle East, and Africa
Key countries coveredUS, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt
Key segments coveredBy Product Type, End-Use, Application, and Region
Customization scopeAvailable upon Request
Pricing and purchase optionsAvailable upon Request