The growth of the amines market is driven by the growing consumer awareness of the importance of hygiene and cleanliness is likely to raise the demand for amines for the manufacturing of cleaning products such as disinfectants and surfactants, says this report.
Selbyville, Delaware, Aug. 05, 2021 (GLOBE NEWSWIRE) -- According to the report published by Global Market Insights Inc., the Amines Market was valued at $17 billion in 2020 and is slated to hit USD 30 billion by 2027, registering a CAGR of 8% from 2021 to 2027. The report provides an in-depth analysis of the market size & estimations, wavering market trends, drivers & opportunities, competitive scenario, major investment pockets, and top winning strategies.
A rapid upsurge in the demand for remdesivir in the treatment of COVID-19 patients and a substantial increase in the number of COVID-19 patients are expected to boost the demand for different types of alkyl amines, such as diethylamine and triethylamine, over the forecast period
The global fatty amines market was valued at over USD 3.8 billion in 2020 and is expected to grow at a CAGR of 8% over the forecast period. Numerous attributes of fatty amines, such as their excellent floatation, emulsifying & anti-caking properties, and relatively low toxicity, are likely to boost product demand from different application industries including paints & coatings, textile, personal care, chemical, and oil & gas.
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The agriculture application segment was valued at over USD 1.4 billion in 2020 and is expected to grow at a CAGR of over 8% from 2021 to 2027 owing to the growing need to increase crop yield per hectare of cultivable land, increasing adoption of advanced agricultural techniques, and increasing efforts of agrochemical manufacturers to enhance the quality of agrochemicals. On the other hand, the cleaning application is expected to reach over USD 5 billion by 2027, growing at a CAGR of 8.5% over the forecast period.
The global amines industry from surfactant function was valued at over USD 5.5 billion in 2020 and is projected to grow at a CAGR of over 8.5% during the review period. Excellent surfactant properties of amines make them an ideal fit for use in the manufacturing of different personal care products including eyeliners, mascaras, blush, foundations, shampoos, and conditioners.
The chelating agent function segment was valued at over USD 1.1 billion in 2020 and is expected to grow at a CAGR of 7% from 2021 to 2027. The growing demand for anti-scaling chemicals in industrial, metal treatment, chemical, paints & coatings, detergent manufacturing, and textile processing applications will boost the amines market growth as a chelating agent.
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North America is expected to reach over USD 6 billion by 2027, growing at a CAGR of 7.5% from 2021 to 2027. The rising prevalence of chronic lifestyle disorders, such as diabetes, blood pressure, cholesterol, and acidity, owing to changing consumer lifestyles and improper consumption habits in North America will boost the amines market share from the pharmaceutical sector. Moreover, the growing consumer focus on personal grooming, cleanliness, and basic hygiene is likely to further escalate product demand from the personal care and surfactant industries.
Leading market players
The key market players analyzed in the global amines industry report include BASF SE, Dow Inc., Huntsman Corporation, Nouryon, Evonik Industries, and Eastman Chemicals. They are focused on product development, merger & acquisition, strategic partnership & joint venture, and R&D investment strategies over the long run.
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