Amines Market Forecasts to 2028 – Global Analysis By Type (Alkyl Amine, Specialty Amine), Function (Chelating Agent, Solvent), Application (Adhesives, Gas Treatment), End User (Oil and Petrochemical, Rubber) and By Geography
According to Stratistics MRC, the Global Amines Market is accounted for $17.92 billion in 2020 and is expected to reach $39.56 billion by 2028 growing at a CAGR of 10.4% during the forecast period. The increasing demand for amines as an important ingredient in pharmaceutical formulations and the rising prevalence of chronic health disorders such as diabetes, blood pressure, cholesterol, and heart problems, among others are driving the market growth. However, increasing usage of bio-based products for agriculture in developed countries is hampering the growth of the market.
Amines are organic compounds that fit the nitrogen atom family. Amines are the by-products of ammonia where a hydrogen atom is being changed by an aryl or alkyl group. Based on the number of hydrogens replaced by an organic compound (alkyl or aryl group) they are known as primary amines, secondary amines, and tertiary amines. Amine is also known as aniline, which is a byproduct of the manufacturing process of PU foam, dyes, and pesticides.
Based on the type, the ethanolamine segment is going to have lucrative growth during the forecast period. The growing positioning of ethanolamines in a varied range of end-use applications such as gas treatment and agrochemical production is likely to increase the amines market growth. Moreover, the surfactant properties of ethanolamine make it a perfect fit for numerous personal care products such as shampoos, soaps, creams, and other cosmetic preparations.
By geography, Asia Pacific is going to have high growth during the forecast period, due to the growing application of the product in manufacturing numerous crop protection chemicals such as herbicides, insecticides, and pesticides and among others. For example, diethanolamine is one of the key raw materials in manufacturing glyphosate to expand the quality of this herbicide.
Some of the key players profiled in the Amines Market include BASF SE, Lonza Corporation, Luxi Chemical Co., Ltd, AkzoNobel N.V., Alkyl Amines & Chemicals Ltd, Balaji Amines, Corbion, Daicel Chemical Industries Ltd, Delamines B.V, Hexion Inc, Huntsman Corporation, NOF Corporation, Oxea GmbH, Taminco and Volant-Chem Corp.
Estimated Market Size in 2020:
USD 17.92 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 39.56 billion
Tables, Graphs& Figures
Type, Function, Application, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Alkyl Amine
• Ethanol Amine
• Ethylene Amine
• Fatty Amine
• Specialty Amine
• Bleach Activators
• Chelating Agent
• Corrosion Inhibitor
• Adhesives, Paints, and Resins
• Cleaning Products
• Crop protection
• Gas Treatment
• Water Treatment Cleaning
End Users Covered:
• Agricultural Chemicals
• Oil and Petrochemical
• Personal Care
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Amines Market is majorly driven by the increasing demand for amines as an important ingredient in pharmaceutical formulations and the rising prevalence of chronic health disorders.
The ethanolamine segment is growing at a highest CAGR owing to the growing positioning of ethanolamines in a varied range of end-use applications such as gas treatment and agrochemical production.
Europe dominated with a significant market share due to the factors such as growing need for food safety coupled with significant government support promotes the use of agrochemicals mainly UK region.
Asia Pacific market is growing at a highest CAGR owing to the growing application of product in manufacturing numerous crop protection chemicals such as herbicides, insecticides, and pesticides and among others.
Key players in Amines Market include BASF SE, Lonza Corporation, Luxi Chemical Co., Ltd, AkzoNobel N.V., Alkyl Amines & Chemicals Ltd, Balaji Amines, Corbion, Daicel Chemical Industries Ltd, Delamines B.V, HexionInc, Huntsman Corporation, NOF Corporation, Oxea GmbH, Taminco and Volant-Chem Corp.
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