The growing industrial sector in emerging economies would fuel the market for amines!
- Vikas Kumar
- January 10, 2023
- CHEMICAL, NEWS
- Amines Market, Amines Market 2022, Amines Market analysis, Amines Market forecast, Amines Market growth, Amines Market shape, Amines Market share, Amines Market size, Amines Market trends
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The global amines market is likely to showcase a growth of around 5% during the forecast period. The amines are widely used in a range of industries therefore market performance is highly forward-integrated. As the end-use industries of emerging economies like China and India are showing robust growth, therefore it is expected to fuel the market size for amines.
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Amines are widely used in water treatment, crop protection chemicals, personal care & cleaning products, paints & coatings, and petroleum products refining. As the global demand for final products from the aforementioned industries is growing owing to rising income coupled with changing people standard of living and rising global population, the demand for raw materials is growing as well. Being a crucial raw material in a number of industries, the consumption of amines is growing as well. Although currently the production of amines is highly backward integrated into petrochemical industries which are highly volatile, therefore companies operating in the market find difficulties in maintaining significant profit margins.
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Based on product, the market is categorized into ethanolamine, fatty amines, alkyl amines, and others. Among these, ethanolamine is expected to perform better growth than its counterparts during the forecast period. This could be ascribed to the strong recovery in the industries where ethanolamine is consumed in large quantities like soaps & detergents, cosmetic & personal care, textile, and chemical industries, to name a few.
Based on application, the market is categorized into water treatment, cleaning products, crop protection, personal care, petroleum, paints & coatings, pharmaceuticals, and others. During the forecast period, the market for pharmaceuticals is likely to showcase significant growth owing to increasing investment to boost the overall healthcare landscape. Further, governments in several emerging economies are implementing several policies to increase foreign direct investment in the economy’s pharmaceutical sector. For instance, the Government of India announced the Production Linked Incentive (PLI) scheme for pharmaceuticals in order to lure players to invest in the country.
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For a better understanding of the market adoption of Amines, the market is analyzed based on its worldwide presence in the countries such as North America (the United States, Canada, Rest of North America), Europe (Germany, the United Kingdom, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and Rest of World. The Asia-Pacific region captured the lion’s share of the market owing to the presence of a large number of industries in countries like China, India, Japan, and South Korea. Further, the region is likely to showcase robust growth during the foreseeable future owing to rising consumer purchasing power and the growing population of the regional economies. Moreover, a large number of international companies are opening their manufacturing sector in the region in order to take the advantage of cheap labor and less stringent environmental regulations compared to western economies. This in turn in increasing the consumption of amines in the region.
Global Amines Market Segmentation
Market Insight, by Product
• Ethanolamine
• Fatty Amines
• Alkyl Amines
• Others
Market Insight, by Application
• Water Treatment
• Cleaning Products
• Crop Protection
• Personal Care
• Petroleum
• Paints & Coatings
• Pharmaceuticals
• Others
Market Insight, by Region
- North America Amines Market
- The United States
- Canada
- Rest of North America
- Europe Amines Market
- Germany
- The United Kingdom
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific Amines Market
- China
- Japan
- India
- Rest of Asia-Pacific
- Rest of World Amines Market
Top Company Profiles
- BASF SE
- Eastman Chemical Company
- Arkema S.A.
- Nouryon
- SABIC
- The Dow Chemical Company
- Huntsman Corporation
- Mitsubishi Gas Chemical Company
- Celanese Corporation
- INEOS Group Limited
