Blog Information
- Posted By : Abhay Kumar
- Posted On : Mar 21, 2023
- Views : 58
- Category : General
- Description : The global amines market reached a value of 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.
Overview
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 reached a value of 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 N.V.
- Arkema S.A.
- 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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