Press release
Amines Market Size to Worth Around US$ 21.3 Billion by 2031 | Arkema SA, AkzoNobel N.V., Alkyl Amines Chemicals Ltd.
Amines Market
The global amines market is projected to reach around US$ 21.3 Billion by the end of 2030, in terms of revenue, growing at CAGR of 4.5% during the forecast period (2023-2030).
Market Dynamics:
The amine market is projected to grow at a rapid pace during the forecast period, owing to rise in demand from agricultural sector. Amines are among the major intermediates used in production of agrochemicals like herbicides, fungicides and insecticides. With increasing global food demand and shrinking arable land, dependence on agrochemicals is rising significantly. This is expected to boost the demand for amines over the forecast period. Another factor spurring the market growth is increasing usage of amine compounds as corrosion inhibitors in industrial applications like oil & gas extraction and petrochemical manufacturing. Amines are widely used as corrosion inhibitors to protect equipment from corrosion under high temperature and pressure conditions. Rapid expansion of these industries is anticipated to drive the amines market during 2024-2031.
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Market Drivers for Amines Market
Increasing demand from cleaning products industry
The global cleaning products industry has been growing steadily over the past few years. Increased focus on hygiene and sanitization due to various health concerns has boosted the demand for various cleaning agents and disinfectants. Amines like ethanolamine and alkylamines are important raw materials used in the manufacturing of many cleaning products like detergents, soaps, and disinfectants. With rising consumption of cleaning products across both commercial and residential sectors, the demand for amines is expected to rise substantially in the coming years.
Market Opportunity for Amines Market
Growing demand from personal care industry
The personal care industry has emerged as one of the major end-use sectors of amines in recent years. Amines are used in the formulations of various personal care products such as moisturizers, facial cleansers, shampoos, hair conditioners, liquid soaps, and others. In particular, monoethanolamine, triethanolamine, and diethanolamine see extensive applications in personal care owing to their conditioning and thickening properties. Additionally, rising spending on personal grooming products among the aspiring middle-class population in emerging nations presents significant opportunities for amines producers.
Market Trends for Amines Market
Increasing preference for bio-based amines
Growing environmental consciousness and stringent regulations have compelled formulators to shift from petroleum-derived chemicals to more sustainable bio-based alternatives. In line with this trend, many companies are investing in R&D to develop bio-based amines from natural sources like amino acids, sugars, and vegetable oils. They offer an eco-friendly substitute for conventional amines. For example, bio-based 1,3-Propanediamine is a viable substitute for petrochemical 1,3-Propanediamine. With sustainability becoming a key priority, the demand for eco-friendly bio-based amines is expected to pick up considerably over the next five years.
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Top Companies Featured in This Report:
β Arkema SA
β AkzoNobel N.V.
β Alkyl Amines Chemicals Ltd.
β BASF SE
β BASF-YPC Company Limited
β The Dow Chemical Company
β Huntsman Corporation
β Mitsubishi Gas Chemical Company Inc.
Market Segmentation:
By Product Type:
β By Product Type: Ethanolamine, Alkyl Amines, Fatty Injection Molded Plastics, Others
By Applications:
β By Application: Crop Protection Chemicals, Water Treatment, Personal Care, Surfactants, Others
Key Regions/Countries Classified as Follows:
Β» North America (U.S., Canada, Mexico)
Β» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Β» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
Β» South America (Brazil, Argentina, Rest of SA)
Β» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Inquiries Addressed in this Report include:
π What was the size of the Amines Market in 2024, and what is the projected value by 2031?
π What is the present global market landscape for the Amines Market?
π What strategies offer optimal opportunities for growth maximization in the business?
π What recent trends are shaping the Amines Market?
π How does the market share of Amines Market revenue, sales, and size vary across specific geographical regions?
π Who are the prominent industry players in the Amines Market?
π Which segment of the Amines Market is experiencing heightened demand?
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Amines sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
π Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/4008
Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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