Amines Market Size Worth USD 24 Billion by 2030 at 7.35% CAGR - Report by Market Research Future (MRFR)

Amines Market Insights and Industry Analysis by Product Type (Ethylene amine, Alkyl Amines, Fatty Amines, Specialty Amines, and Ethanol Amines), Application (Water Treatment, Cleaning products, Agriculture, Personal Care, Petroleum, Paint & Coatings, Pharmaceuticals, and Others) and Region, Competitive Market Size, Share, Trends, and Forecast to 2030

New York, New York, UNITED STATES

New York, USA, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Amines Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Amines Market Information by Product Type, Application, and Region - Forecast till 2030”, the market is estimated to grow at a 7.35% CAGR to reach USD 24 Billion by 2030.

Market Scope:

The nitrogen family includes chemical molecules that are often referred to as amines. These are produced using ammonia (NH3). Aryl or alkyl groups are used to replace numerous hydrogen atoms in their structure. Since amines are required for the creation of other amino acids, they have become increasingly important. These amino acids are the fundamental components of protein as well as a variety of other nutrients found in living things. In addition, amines play an important role in the manufacturing of a variety of vitamins. Numerous additional neurotransmitters, including dopamine, histamine, serotonin, norepinephrine, and epinephrine, are amines. These substances have the capacity to generate hydrogen bonds, which would render them very water soluble. As a result, even when compared to phosphines, these organic compounds have an extremely high boiling point. These compounds' solubility diminishes as the chain length grows if the number of carbon atoms in their structures rises.

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Report Scope:

Report AttributeDetails
2030 Market SizeUSD 24 Billion
CAGR7.35% (2022–2030)
Base Year2021
Forecast Period2022–2030
Historical Data2020
Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredBy Product Type, Application, and Region
Geographies CoveredNorth America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market DriversAmines are highly in demand for the manufacturing of agrochemicals
As the population is increasing rapidly, so is the demand for agricultural produce to satisfy the hunger

Competitive Dynamics:

Major market players are concentrating on creating joint ventures or partnerships for specific projects, mergers, and acquisitions to enhance technology. Producing finished goods and services that are extraordinary, cost-effective and capable of offering accurate answers to the relevant difficulties is their primary goal. The list of major Global Amines Market Key Players is as follows:

  • 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) 
  • Volant-Chem Corp. (China)
  • Koei Chemical Company Limited (Japan)
  • Daicel Chemical Industries Ltd (Japan)
  • Luxi Chemical Co., Ltd (China).

Market Dynamics:

Market Drivers:

Amines are widely sought-after for use in the production of agrochemicals. They are often utilized to create crop protection agents. They defend the crop against parasites, rodents that live in the soil, and fungal illnesses. The need for agricultural products to feed such a big population is rising quickly along with the population.

The demand for amines is expanding dramatically along with the expansion of the pharmaceutical and healthcare industries. There are several therapeutic and anesthetic drugs that make use of this chemical in the production process. Additionally, amines are used in the development of novel drugs for the treatment of long-term disorders. The worldwide industry's expansion is also being aided by its widespread use in cosmetic and personal care goods.

Market Restraints:

Growing public concern over agrochemicals, as well as a healthy lifestyle, have emerged as significant roadblocks to further amine sector growth. Organic and bio-based products are becoming increasingly popular since they are safe for human consumption. Its total expansion may be hampered by the shifting cost and availability of basic materials.

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COVID-19 Analysis:

The worldwide pandemic coronavirus is affecting people all over the world. With the exception of the pharmaceutical business, it has had a detrimental effect on how all of the industries operate. In practically every region of the planet, there has been a total lockdown, forcing individuals to remain at home. All countries have closed their borders, therefore there won't be any international travel soon. Additionally, the companies are being closed. Many others lost their jobs as a result. The rise of the amines market has also been impacted by this. Since many neurotransmitters, including adrenaline, norepinephrine, and dopamine, are amines, they are useful in the creation of anesthetic and decongestant drugs as well as painkillers. The patients of Covid19 actively took such medications.

Market Segmentation:

The Global Amines Industry Analysis indicates that the market may be segmented into many groups.

Based on Type:

Since ethanolamines have the finest emulsifying capabilities, they have dominated the amine market.

By Application

The personal care segment is expected to record highest growth over the review period.

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Regional Analysis:

The second-largest market for amino acids is provided by the American region, which comprises both Latin America and North America (the US and Canada). This is due to a rise in the production of different solvents. One of the world's top manufacturers and users of amines, particularly aromatic amines, is the United States. The market for amines has benefited from rising vehicle demand, which is propelling polyurethane sales. The demand for amines in the nation is also anticipated to be driven by continuous pharmaceutical research and development and technological improvements. The United States is also a major producer of agrochemicals, making it significant for amine manufacturers.

Germany, the United Kingdom, France, Russia, and Italy are all part of the European area, which is growing but not to its full potential. However, the personal care industry's rising demand is probably what will drive market expansion.

The Asia-Pacific area is home to nations like China, Japan, India, Australia, and South Korea, which will continue to see rapid growth throughout the projection period. One third of the worldwide amine industry is expected to come from emerging nations of Asia Pacific, which have a large potential market for amines. As the country's industrial sector grows and its agricultural production rises, these two factors have become increasingly important. The market for amines is predicted to continue to be dominated by China. This is a result of the substantial expansion of China's industrial sector over the last several years, and it is predicted that this trend will continue during the projected period.

Due to slower technical advancement, less industrialisation, and fewer government efforts, the remainder of the globe, which includes the Middle East and Africa, is expanding at a slower but stable pace.

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