WASHINGTON, Feb. 10, 2023 (GLOBE NEWSWIRE) -- The Global Amines Market is valued at USD 15.2 Billion in 2021 and is projected to reach a value of USD 19.7 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 4.5% over the forecast period 2022-2028.
Market Overview
According to the latest report published on Amines Market by Vantage Market Research, the key factors anticipated to accelerate the Amines market growth over the forecast period are stated as follows. The rising demand for surfactants and the growing public concern over food and health safety explains this. In addition, the growing world population is predicted to increase the demand for crop protection chemicals on a global scale. Amines are ammonia's Organic Products.
We forecast that the Synthetic category in Amines market sales will account for more than 30% of total sales by 2028. This is a result of the agriculture sector's rising demand for pesticides. However, it is anticipated that over the next eight years, the development of bio-based products and their greater application in crop protection will have a detrimental effect on market growth.
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Market Dynamics
Expansion and Quality Enhancements in the Pharmaceutical Business to support Market Expansion
A bigger need for medicine has never existed than it does right now during the COVID-19 Pandemic, and the pharmaceutical industry is growing exponentially. The need for Amines in the pharmaceutical market is considerably increased because Amines are at the forefront of the medication development process and by the rise in demand for the pharmaceutical industry. The European Federation of Pharmaceutical Industries and Associations (EFPIA) estimates that in 2019, the pharmaceutical industry in the United States of America (USA) spent USD 64,357 million on research and development (R&D), while Europe will spend an estimated EUR 39,000 million ($45,380 million) in R&D in 2020. One of the key forces behind the market for Amines is this.
Ethanol-Amine's Rising Demand will Fuel Market Expansion
The three main Ethanol Amines are Mono-Ethanol-Amine (MEA), Di-Ethanol-Amine (DEA), and Tri-Ethanol-Amine (TEA). MEA is mostly employed in the captive manufacture of ethylene Amines and imines and also in detergents and personal care products. The most popular item sold by the DEA is herbicides, followed by personal care items, refinery/gas treatment, and detergents. Most TEA is used to produce detergents, personal care goods, engineering/metalworking, and concrete. The demand for ethanolAmine is rising due to increased demand from various end-use industries. In addition, rising oleochemical demand is driving up product demand.
Top Players in the Global Amines Market
- Arkema SA (France)
- Akzo Nobel N.V. (Netherlands)
- BASF SE (Germany)
- SABIC (Saudi Arab)
- The Dow Chemical Company (US)
- Huntsman Corporation (US)
- Mitsubishi Gas Chemical Company (Japan)
- Taminco Corporation (US)
- Celanese Corporation (US)
- Solvay S.A. (Belgium)
- INEOS Group (UK)
- Lanxess Corporation (Germany)
- Lyondell Basell Industries Holdings BV (US)
For Additional Information on Amines Market Players and Detail List, Download a Report PDF Brochure
Top Trends in Global Amines Market
- One trend that Vantage Market Research (VMR) expects to see in the Amines industry is using fatty Amines more frequently. Agrochemicals, chemical processing, personal care products, oilfield chemicals, and other industries frequently use them. Most of them are employed in the agricultural industry. The development of this business can be ascribed to the rise in demand for wholesome, high-quality food on a global scale and the scarcity of arable land.
- Another trend that VMR predicts will continue in the Amines industry is a rise in the demand for agrochemical production. They are frequently 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 Amines Industry is receiving a boost as a result.
Top Report Findings
- Based on Products, most of the Amines market's revenue is controlled by the ethanolAmine category due to the personal care industry's significant demand for methyl Ethanol-Amine and Dimethyl Ethanol Amine (DEA).
- Based on the Applications, most of the Amines market's revenue is controlled by the crop protection category. Amines are frequently employed in agrochemical production to protect crops against fungal infestation. Before drilling or seeding cereals or other crops, it suppresses leaf weeds in fallow land, improving agricultural productivity.
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Recent Developments in the Global Amines Market
- BASF launched its new product line, BASF Amines 2020, which includes 11 new molecules for the manufacture of various products including plastics and coatings. The company also revealed plans to invest up to €1 billion in its research and development activities over the next five years.
Ethanol-Amine Category in Amines Market to Generate Over 35% Revenue
Amines are an expensive investment. Vantage Market Research has analyzed the market for Amines to understand its current state and potential future growth factors. For better understanding, based on the product, the Amines market is divided into ethanol Amine, fatty Amines, alkyl-Amines, and other Products.
During the forecast period, the market for Amines experienced the highest CAGR for the ethanolAmine category. MonoethanolAmine and triethanolAmine, two forms of ethanolAmine, are mostly utilized as cleaning agents. It is also utilised as a corrosion inhibitor in lubricants, machining fluids, and cooling systems for industrial, automotive, and marine applications. The demand for ethanolAmine as a cleaning agent and corrosion inhibitor is anticipated to increase due to growing health consciousness and a propensity for preventive maintenance.
On the other hand, the fatty Amines category is anticipated to grow significantly due to their use in the production of additives, dispersants, emulsifiers, froth flotation agents, corrosion inhibitors, and dispersants used in mining, construction, and refinery applications. Furthermore, rising oleo chemical production is anticipated to guarantee the near-term supply of fatty Amine.
Asia Pacific Region in Amines Market to Generate More 39% Revenue
The Asia Pacific dominates the market throughout the projection period. Demand for Amines is probably driven by the rapidly expanding FMCG sector in developing nations like China and India. The increased government involvement in providing safe drinking water contributes to the significant growth projected for the water treatment application.
Browse market data Tables and Figures spread through 148 Pages and in-depth TOC on Amines Market Forecast Report (2022-2028).
Global Amines Market Segmentation
By Products
- EthanolAmine
- Fatty Amines
- AlkylAmines
- Other Products
By Applications
- Crop Protection
- Surfactants
- Water Treatment
- Personal Care
- Gas Treatment
- Other Applications
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 15.2 Billion |
| Revenue Forecast by 2028 | USD 19.7 Billion |
| CAGR | 4.5% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Arkema SA, Akzo Nobel N.V., BASF SE, SABIC, The Dow Chemical Company, Huntsman Corporation, Mitsubishi Gas Chemical Company, Taminco Corporation, Celanese Corporation, Solvay S.A., INEOS Group, Lanxess Corporation, Lyondell Basell Industries Holdings BV |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
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- Top Companies in Amines Market by Size, Share, Historical and Future Data & CAGR
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