Amines Market: Current Analysis and Forecast (2022-2028)
Emphasis on Product (Ethanolamine, Fatty Amines, Alkyl Amines, and Others); Application (Water Treatment, Cleaning Products, Crop Protection, Personal Care, Petroleum, Paints & Coatings, Pharmaceuticals, and Others); Region and Country
The global amines market is likely to showcase a growth of around 5% during the forecast period. Being a commodity product, the amines industry enjoys limited valuation in the market however being a key raw material in a large number of end-use industries, the demand for amines has grown over the past years and it is expected that the industry will retain significant growth performance during the foreseeable future. Industries like water treatment, agriculture, pharmaceutical, petrochemical, paints & coatings, and personal care are some of the key industries which are consistently maintaining strong demand for different kinds of amines products. Further, robust industrial growth in emerging economies to serve the large but underpenetrated consumer is propelling the market growth for the amines industry. For instance, according to Invest India, an India-based National Investment Promotion and Facilitation Agency, the pharmaceutical industry in India is expected to reach $65 bn by 2024 and to $120 bn by 2030 from $50 bn in 2022.
Insights Presented in the Report
“Amongst product, ethanolamine accounted the significant portion of the pie”
Based on product, the market is categorized into ethanolamine, fatty amines, alkyl amines, and others. Among these, ethanolamine captured a major portion of the pie due to its usage in large numbers of amines-consuming industries. For instance, ethanolamine is used as a scrubber in the petrochemical industry to remove carbon dioxide, hydrogen sulfide, and other acidic pollutants from waste gas streams. Further, as a starting material, it is used in the production of surfactants, chelating agents, and pharmaceutical products, among others.
“Amongst application, crop protection held a prominent position in the market in 2020”
Based on application, the market is categorized into water treatment, cleaning products, crop protection, personal care, petroleum, paints & coatings, pharmaceuticals, and others. Among these, crop protection accounted for a prominent share of the market owing to the consumption of fertilizer in large amounts in almost all countries. Further, decreasing arable land has increased the focus on improving crop yield, thereby fueling the demand for crop protection products.
“Asia-Pacific is likely to showcase significant growth during the forecast period”
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. Over the years, economies of the Asia-Pacific region have emerged as the key manufacturers of agrochemicals, paints & coatings, personal care products, cleaning products, and pharmaceuticals to name a few. This in turn increased the consumption of amines in the regional economies. Moreover, it is expected that during the forecast period, the region would showcase robust growth owing to rising industrialization in economies like India and ASEAN. Further, governments of various countries like India are focusing on increasing their share of the manufacturing sector in total GDP, which would like to increase the demand for amines.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive country-level analysis of the industry
Customization Options:
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Table of Contents
Research Methodology for Global Amines Market Analysis (2020-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of amines, three major steps are undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the amines industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of amines through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the amines market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. The major segment is included in the report by product and application. Further regional and country-level analyses were conducted to evaluate the overall adoption of amines globally.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Amines. Further, we conducted factor analysis using dependent and independent variables such as the large and growing end-use industry. A thorough analysis was conducted of demand and supply-side scenarios considering the increasing investment, top partnerships, mergers and acquisitions, business expansion, and product launches in the amines industry.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of amines across the major markets
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the amines market. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants by Stakeholders and Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Amines market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of product and application.
The main objective of the Amines market study
The current & future market trends of global Amines were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Amines in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include the area of the product and application
- Defined analysis of the regulatory framework for the amines industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of amines for the major countries
- Major regions/countries analyzed in the report include North America (the United States, Canada, Rest of North America), Europe (Germany, the United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), and Rest of World
- Company profiles of the amines market players and the growth strategies adopted by them to sustain the growing market
Deep dive country-level analysis of the industry
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