The global Amines market size was estimated at USD 14.4 billion in 2016 and is anticipated to reach USD 29.3 billion by 2025. Amines market is expected to witness significant growth over the forecast period owing to increasing application scope in personal care products, crop protection, paint & coatings, surfactants and water treatment. Rising need for yield improvement among farmers coupled with growing agricultural industry demand for fertilizers is projected to fuel the market growth over the next eight years. India and China are anticipated to act as important countries to drive the growth primarily due to the rising end user industry demand for amines as a raw material in manufacturing azo dyes and as an ingredient for making drugs in pharmaceutical industry.
Amine
growing demand for gas treatment to remove hydrogen sulfide (H2S), and carbon
dioxide (CO2) from refinery process streams is also expected to bolster the
market growth by 2024. Furthermore, improving infrastructure growth in BRICS
countries, and rising demand for heavy duty laundry liquids are anticipated to
propel the market demand over the forecast period. In addition, increasing
cosmetic products demand in developing markets of India and China coupled with
growing personal care industry in Germany is likely to boost the amines market
over the next eight years. However, the increasing volatility in crude oil
prices has impacted the amines prices resulting in the rising demand for bio
based molecules, thus challenging the amines market growth by 2024. Henceforth,
companies are projected to focus in technological advancements through R&D
efforts that would decrease the amines prices and could potentially reduce the
demand supply gap over the next eight years. Automobile production growth in
Malaysia, China, Mexico and Indonesia is another important factor anticipated
to propel the application of paints and coatings, thus boosting the amines
market over the next eight years.
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Product Insights
Amines
comprises of various products such as chlorpromazine, amitriptyline,
imipramine, lofepramine, clomipramine, and ethanolamine which are used to
relieve allergic disorder, anxiety, excitement, mental disorder, and
restlessness. It constitutes few other products such as desipramine,
nortriptyline, and amoxapine that are considered very significant tricyclic
anti-depressants. The aforementioned products application in pharmaceutical
industry is anticipated to fuel the market growth over the forecast period.
Ethanolamine is projected to account for more than 50% market share by 2024
primarily owing to its rising use as a corrosion inhibitor in matching fluids,
lubricants, and cooling systems for automotive & marine industrial
applications. It is also used as a cleaning agent in the form of triethanolamine
and monoethanolamine thus anticipating the market growth to propel by 2024
Application Insights
Crop
protection is the key amine application in the agricultural industry that is
expected to drive the market growth over the forecast period. The market also
has various applications in pharmaceutical industry in making medicines.
However, the increasing applications of bio-based products and rising stringent
environmental regulations regarding water pollution are projected to challenge
the amines market by 2024. Growing amine application in FMCG industry is also
anticipated to bolster the market growth over the forecast period.
Regional Insights
Asia-Pacific
is projected to witness fastest growth over the forecast period owing to
growing demand from agricultural industry, rising economic development, and
increasing R&D endeavors in producing quality amines. India, China,
Indonesia, and Malaysia are anticipated to account for major market share in
the region primarily due to growing government initiatives for sustainable
development. North America and Europe are expected to see considerable growth
over the next eight years owing to growing demand for amines in end-use
industries and rising awareness of its varied applications. Particularly the
US, Germany, France, the UK, and Italy are projected to account for highest
growth in the region primarily due to growing of personal care and healthcare
products.
Competitive Insights
Major
players in the amine market include AkzoNobel, BASF, Clariant, and Dow
Chemicals. New opportunities arising from Indian government’s PCPIR policy for
promoting chemicals and petrochemicals production is also anticipated to propel
growth by 2024.
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Product Outlook (Volume, Kilo Tons;
Revenue, USD Million; 2014 - 2025)
• Ethanolamine
• Fatty Amines
• Alkylamines
• Others
Application
Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
• Crop Protection
• Surfactants
• Water treatment
• Personal care
• Gas Treatment
• Others
Regional
Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
• North America
• U.S
• Mexico
• Canada
• Europe
• Germany
• U.K
• Asia Pacific
• China
• Japan
• Central & South America
• Brazil
• Middle East & Africa
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