Press release
Tertiary Amines Market Overview, Size, Share, Growth Rate, Demand Patterns And Forecasts 2024-2033 | Key Players: Mitsui Chemicals Inc., BASF SE, Procter & Gamble Chemicals Company, The Dow Chemical Company, Evonik Industries AG
Tertiary Amines Market Report
The Business Research Company offers in-depth market insights through Tertiary Amines Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The tertiary amines market size has grown strongly in recent years. It will grow from $4.98 billion in 2023 to $5.41 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to chemical manufacturing demand, growing construction sector, surfactant and water treatment applications, expanding pharmaceutical industry, consumer goods production.
The tertiary amines market size is expected to see strong growth in the next few years. It will grow to $7.77 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to infrastructure development, increasing water treatment needs, pharmaceutical manufacturing growth, innovation in surfactant production, environmentally friendly formulations. Major trends in the forecast period include utilization of tertiary amines in gas treatment processes, application of tertiary amines in polyurethane catalysts, shift towards tertiary amines as additives in lubricant formulations, development of tertiary amines for agricultural chemicals, adoption of tertiary amines in the textile and leather industries.
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Market Segmentation:
The tertiary amines market covered in this report is segmented -
1) By Product: C-8 TA, C-10 TA, C-12 TA, C-14 TA, C-16 TA, Other Products
2) By Application: Surfactants, Biocides, Floatation Agents, Corrosion Inhibitors, Emulsifier, Drilling Material, Other Applications
3) By End-User: Cleaning Products, Agricultural Chemicals, Personal Care, Petroleum Industry, Water Treatment, Plastics, Pharmaceuticals, Textiles and Fibers, Other End-Users
Major Driver - Expanding Role Of Tertiary Amines Fueled By Growing Demand In Personal Care Products
The rising demand for personal care products is expected to people the growth of the tertiary amines market going forward. Personal care products refer to an item that is intended for cleaning, grooming, boosting attractiveness, or altering the physical appearance. Tertiary amines including Triethanolamine (TEA) are used in personal care products such as skin lotions, creams, cosmetics, moisturizers, eye gels, and shaving foams as pH adjusters and surfactants. For instance, in March 2022, according to a Cosmetics Europe study, a Belgium-based trade association for the cosmetics and personal care industry, it has been found that 72% of European customers see personal care products as very important in their daily lives and an average consumer uses over 7 different cosmetics and personal care products daily. Therefore, the rising demand for personal care products across the globe is driving the demand for the tertiary amines market.
Competitive Landscape:
Major companies operating in the tertiary amines market report are Mitsui Chemicals Inc., BASF SE, Procter & Gamble Chemicals Company, The Dow Chemical Company, Evonik Industries AG, Solvay S.A., DuPont de Nemours Inc., Air Products and Chemicals Inc., Kao Corporation, Arkema S.A., Eastman Chemical Company, Akzo Nobel N.V., Huntsman International LLC., Lonza Group Ltd., Daicel Corporation, Albemarle Corporation, KLK OLEO Group, NOF CORPORATION, Zhejiang Xinhua Chemical Co Ltd., Balaji Amines Ltd., Alkyl Amines Chemicals Ltd., Temix Oleo Srl, Indo Amines Ltd., Global Amines Company Pte. Ltd., Tokyo Chemical Industry Co Ltd., Shandong Nuoer Bio-Tech Co Ltd., Hangzhou Dayangchem Co Ltd., Dawei Chemicals Co Ltd., Volant-Chem Corp, Sino-Japan Chemical Co Ltd., Zibo Tenghui Oil & Fat Chemical Co Ltd.
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Top Trend - Investment In New Tertiary Plants To Drive Revenues In The Market
Major companies operating in the tertiary amines market are building new tertiary amine production plants to drive the revenues in the market. The primary objective behind this strategic move is to cater to the increasing demand for sterilizing/cleaning applications and a wide range of other industrial applications. For instance, in February 2022, Kao Corporation, a Japan-based chemical company made the decision to construct a new tertiary amine production plant in Pasadena, Texas, United States. This involves a unique catalyst technology, that aims to leverage its superior quality tertiary amines to meet the growing market needs. The company's expansion into the U.S. market is a testament to its commitment to strengthening its supply chain efficiency, reducing CO2 emissions, and minimizing its ecological footprint. The new production plant, scheduled to commence operations in January 2025, is anticipated to play a pivotal role in enhancing Kao's presence in the U.S. market, which is expected to witness mid- to long-term growth.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Tertiary Amines Market Characteristics
3. Tertiary Amines Market Trends And Strategies
4. Tertiary Amines Market - Macro Economic Scenario
5. Tertiary Amines Market Size And Growth
…..
27. Tertiary Amines Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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