Amines Market Report 2022, Demand, Trends, Growth And Forecast 2027
According to the latest report by IMARC Group “Amines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global amines market size reached US$ 18.56 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 25.01 Billion by 2027, exhibiting a CAGR of 5.05% during 2022-2027.
Amines are colorless, less volatile organic compounds derived from ammonia by replacing hydrogen atoms with an aryl or alkyl group. They are widely utilized as water softeners and corrosion inhibitors in the manufacturing of rubber, synthetic resins, fibers, and azo dyes. They are also extensively used in crop protection chemicals, personal care products, pharmaceuticals, coatings, paints, and wastewater and gas treatment for eliminating carbon dioxide (CO2) from natural gas.
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Market Trends:
Significant growth in the agriculture sector represents one of the key factors propelling the use of amines in the manufacturing of crop protection substances. These substances protect crops against parasites, fungal infections, and soil-borne rodents. Besides this, the rising prevalence of chronic disorders, such as hypertension, diabetes, and cholesterol, is driving the application of amines in the healthcare industry. Furthermore, rising accidents and the increasing number of individuals undergoing surgical intervention are positively influencing the demand for anesthetic drugs, which, in turn, is strengthening the market growth.
Breakup by Product:
Ethanolamines
Fatty Amines
Alkylamines
Others
Breakup by Function:
Solvent
Chelating Agent
Corrosion Inhibitor
Bleach Activators
Surfactants
Others
Breakup by Application:
Agriculture
Gas Treatment
Petroleum
Water Treatment
Personal Care
Paints and Coatings
Others
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Akzo Nobel NV
Arkema SA
BASF SE
Celanese Corporation
Dow Inc.
DuPont de Nemours Inc.
Huntsman Corporation
Lanxess AG
LyondellBasell Industries N.V.
Mitsubishi Gas Chemical Company Inc.
SABIC
Solvay S.A.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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