The market is expected to generate an incremental $ opportunity of US$ 26,355.3 Mn between 2022 and 2032
Category: Chemicals & Materials Published Date : October 2022 ID: CVC-00196 Format: PDF Pages: 300
Amines Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Amines Market was worth US$ 26,740.0 Mn and is expected to grow at a CAGR of 7.1% over the forecast period. The market is expected to hit US$ 53,095.3 Mn by 2032 end. From 2017–2021, when the market’s CAGR was 5.8%, the market underwent significant growth.
THE MARKET IS DRIVEN BY WIDE-RANGING APPLICATION
Amines are used in various end-use products, including personal care products, water treatment, agricultural chemicals, cement and cleaning products, gas treatment, textiles, and wood treatment, as corrosion inhibitors, intermediates, activators, neutralizing agents, formulators, and chelating agents. Medicines, paint & coatings, and petroleum. The consumption of amines has increased over the past few years due to development in application sectors such as water treatment, agriculture, oil, and personal care. This trend is anticipated to continue throughout the forecast period.
HIGH RAW MATERIAL COST IMPACTS THE MARKET
Margin is being squeezed by fluctuating raw material costs for amine production. The cost structure of manufactured items is significantly influenced by resource pricing and availability for amine producers. Acetone, ethylene oxide, ammonia, ethanol, refined petroleum products, and butyl alcohol are the primary raw ingredients utilized to create amines. Since most of these goods are petroleum derivatives, they are susceptible to changes in product prices.
Various products, including crop protection agents and surfactants, are made using bio-based amines to counteract the harmful impacts of greenhouse gas emissions. The real benefit of bio-based amines is that they are not heavily dependent on petroleum-based supplies.
Due to supply chain disruptions and a drop in consumer demand, the ongoing COVID-19 pandemic crisis has hugely impacted the world economy and industrial sector.
The amines market is still the same. The market’s growth rate in 2020 has been impacted by decreased demand from end-use industries like MDI, plastic, polymer, and rubber, among others. On the other hand, the medicines industry continued to thrive because it was mostly immune from strict lock-down scenarios.
Market Segments Covered in Report
By Product Type
By End Use
By Region and Country:
Why is the amine market expected to have the greatest CAGR, and why would crop protection be essential?
Amines are ideally suited for usage as intermediates in producing a wide range of goods, including agrochemicals and pesticides, thanks to their outstanding solvency. It is anticipated that rising industrialization would increase product demand for chemical production and the chemical industry’s rapid global expansion. Throughout the forecast period, the market for amines is anticipated to rise faster due to the increasing rate at which improved agricultural techniques involving agrochemicals, such as pesticides and fertilizers, are being used.
Why is it anticipated that the Water Treatment segment will grow quickly throughout the projected period?
With an expanding population, there is a growing need for purified water. It is a key driver of the amine business, which is still being used extensively for water treatment. When seen from a macro perspective, the effects of different businesses on water use have brazenly exposed the growing concern that water discharged from industrial activities directly affects natural water supplies.
Countries are becoming more concerned about the negative impacts of water contamination due to pollutants, including heavy metals and organic debris. It has led to significant financial investment in lowering the effects of discharged water on the environment and people. Amines are efficient biocides that eliminate aquatic microorganisms. Thus, the demand for amines is anticipated to increase shortly due to the increased awareness of the use of treated water worldwide.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Some of the key developments that have taken place in the Amines Market include:
A list of some of the key suppliers present in the market are:
Global Amines Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product Type, End-Use, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|