Amines Market Size, Share, Segment Analysis, Growth Drivers and Forecast to 2024

Posted on 2019-07-25 by P&S Intelligence in Chemicals, Industrial // 0 Comments

The global amines market is growing, due to the high growth from end-user industries and huge developments in the developing economies across the globe. The amines have several applications in different industries including agricultural, personal care and petroleum; therefore a high demand for amines is projected during the forecast period. Among the various types of amines, the ethanolamines segment held the largest share in the global amines market in 2015, and it was followed by alkylamines, fatty amines, ethyleneamines, and specialty amines, in terms of volume and value.

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The developing economies of Asia-Pacific and Latin America, such as India, China and Brazil, and new amines grades in the market would offer ample opportunities for the growth of the amines market. The key manufacturers of amines may expand their geographical presence as well as their product portfolio in emerging economies to exploit the revenue generation opportunities in these countries. However, the stringent environment regulations in the European Union and North America are expected to hinder the growth of the global amines market to some extent.

Amines are the nitrogen containing organic compounds that are derived from ammonia (NH3). Amines are either naturally found or synthetically manufactured. Some of the naturally occurring amines are alkaloids (present in some plants), catecholamine neurotransmitters, and histamine (found in most animal tissues). Synthetically, amines may be manufactured through two broad methods – chemical reduction of organic nitrogen compounds and reaction of amines or ammonia with organic compounds. Amines are categorized into four major subcategories; primary amines, secondary amines, tertiary amines and cyclic amines.

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Geographically, Asia-Pacific held the largest share in the global amines market in 2015, owing to the high demand from agricultural and personal care industries. China dominated the Asia-Pacific amines market in 2015, and it is anticipated to retain its dominance during 2016 – 2022. The presence of large number of players in the Chinese amines market and increasing investment for the development of amines by major manufacturers are the key drivers for the growth of the amines market in the country.

Some of the key players operating in the global amines market include BASF SE, Akzo Nobel N.V., The Dow Chemical Company, Clariant, Huntsman Corporation, Mitsubishi Gas Chemical Company Inc., OXEA, Taminco (a subsidiary of Eastman Chemical Company), Tosoh Corporation, and Arkema Group.

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