Amines Market Share, Size, Trends, Industry Analysis Report, By Type (Ethanolamines, Alkyl Amines, Ethyleneamines, Fatty Amines, Specialty Amines); By Application; By Region; Segment Forecast, 2023 - 2032
- Published Date:Aug-2023
- Pages: 116
- Format: PDF
- Report ID: PM1570
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global amines market was valued at USD 46,688.43 million in 2022 and is expected to grow at a CAGR of 5.6% during the forecast period.
The market has experienced significant growth and transformation and is projected to continue expanding in the coming decades. Amines, organic compounds derived from ammonia, have diverse applications across various industries, including pharmaceuticals, agriculture, chemicals, and personal care.
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In the pharmaceutical sector, amines are utilized to synthesize drugs and as intermediates for active pharmaceutical ingredients (APIs). With the rising global population and increasing healthcare needs, the demand for pharmaceuticals is expected to soar, thus driving the amines market growth.
In the agricultural industry, amines play a vital role as key ingredients in formulating herbicides, fungicides, and insecticides. As agricultural practices evolve to meet the growing demand for food production, the need for effective crop protection solutions will fuel the demand for amines.
Furthermore, amines find extensive applications in producing various chemicals such as solvents, surfactants, and polymers. These chemicals are widely used in industrial processes, including manufacturing, oil and gas, and water treatment. The expanding industrial sector across emerging economies will contribute to the growth of the market.
The COVID-19 pandemic had a moderate impact on the market. Initially, the market experienced disruptions due to supply chain challenges, reduced industrial activity, and lockdown measures. The global economic slowdown and reduced consumer spending also affected the demand for amines in certain sectors. However, as the pandemic progressed, the demand for pharmaceuticals, disinfectants, and cleaning products increased, driving the demand for amines in these applications. The market is expected to rebound as economies recover and industries resume normal operations, although ongoing uncertainties may continue to pose challenges.
Industry Dynamics
Growth Drivers
The rising need for crop protection chemicals has been a driving force in the market. With the global population steadily increasing, there is a growing demand for higher agricultural productivity to meet food requirements. To achieve this, farmers rely on crop protection chemicals such as herbicides, fungicides, and insecticides, which are formulated using amines.
Amines play a crucial role in these formulations as they act as key ingredients, enabling crop protection chemicals' effectiveness and targeted action. They aid in controlling pests, diseases, and weeds that can significantly reduce crop yields. As a result, the demand for amines in the agricultural sector has increased.
The need for efficient and sustainable agricultural practices, coupled with the ongoing advancements in crop protection technologies, is expected to further fuel the demand for amines in producing crop protection chemicals. The market will likely grow as farmers strive to protect their crops and maximize agricultural productivity in a challenging and evolving environment.
Report Segmentation
The market is primarily segmented based on type, application, and region.
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By Type |
By Application |
By Region |
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Ethanolamine dominated the market share in 2022
In 2022, ethanolamine dominated the market share as the largest segment. Ethanolamine is primarily utilized as a cleaning agent in the form of monoethanolamine and triethanolamine. It is also a corrosion inhibitor in various industrial, automotive, and marine applications, including lubricants, machining fluids, and cooling systems. The increasing emphasis on health awareness and preventive maintenance is anticipated to drive the demand for ethanolamine as a cleaning agent and corrosion inhibitor.
Following ethanolamine, fatty amines hold the fastest growth rate. These amines are derived from fats, natural sources, oils, or petrochemical feedstock. Fatty amines are expected to grow rapidly due to their use in producing corrosion inhibitors, froth flotation agents, dispersants, emulsifiers, and additives utilized in mining, construction, and refinery applications. Additionally, the growing production of oleochemicals is expected to ensure an adequate supply of fatty amines in the near future.
The personal care segment emerged as the leading segment in the market in 2022
In 2022, the personal care segment emerged as the leading segment in the global market. This dominance can be attributed to several factors, including increased personal hygiene awareness, lifestyle advancements, and shifting consumer preferences. As people become more conscious about maintaining personal hygiene and grooming, the demand for personal care products has grown significantly.
Consumers are increasingly seeking products that cater to their specific needs and preferences, driving the expansion of the personal care segment. With continuous advancements in formulations, packaging, and marketing strategies, manufacturers are capitalizing on this trend to offer a wide range of innovative personal care products to meet the evolving demands of consumers.
North America dominated the global market in 2022
In 2022, the North American region dominated the market. This was primarily due to the increasing demand for amines from the animal feed and nutraceutical industries. Apart from the United States and Canada, Mexico also exhibited strong demand, particularly from the pharmaceutical and nutraceutical sectors. Canada, known for its well-established and innovative pharmaceutical industry, contributed to the market's dominance in the region.
During the forecast period, the Asia Pacific market is expected to experience significant growth. The region's emerging economies, such as China and India, are witnessing a rapid expansion of the fast-moving consumer goods (FMCG) industry, which is expected to drive the demand for amines. The water treatment application is also anticipated to grow substantially, driven by increased government interventions in providing safe drinking water in countries like India, Indonesia, and China.
Competitive Insight
Some of the major players operating in the global market include Clariant International Ltd., Mitsubishi Gas Chemical Company, Inc., Solvay S.A., DowDuPont, BASF SE, Air Products and Chemicals Inc., Arkema S.A., Huntsman Corporation, Sinopec Corporation, and Akzo Nobel N.V. among others
Recent Developments
- April 2019: BASF revealed plans to expand its manufacturing capacity for Alkylethanolamines (AEOA) by 20% at its facility in Germany. Following the start-up in 2020, BASF's global annual nameplate capacity for AEOA at its production sites in Ludwigshafen, Germany, and other locations, will exceed 110,000 metric tonnes per year. This expansion aims to meet the growing demand for AEOA and strengthen BASF's position in the market.
- December 2019: GAC, a joint venture between Clariant and Asia's largest International, announced its investment in constructing a third tertiary amines factory. This new facility in Indonesia will enhance the joint venture's ability to support the regional and global home care and personal care industries, providing increased flexibility and reliability.
- August 2022: Global Amine Company Pvt. Ltd., a joint venture of Wilmar and Clariant, signed a definitive agreement to acquire Clariant's quats and esterquats business.
- February 2024: OQEMA, a well-known chemical supplier in Europe, and BASF announced their collaboration. The collaboration aims to leverage BASF’s specialization in making high-quality amines and OQEMA’s well-structured network of distribution and knowledge of the local market to capture a large market share and push for mutual growth in the standard amines sector within regions of the UK and Ireland.
Amines Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 44,030.64 million |
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Revenue forecast in 2032 |
USD 71,776.83 million |
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CAGR |
5.6% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019 – 2021 |
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Forecast period |
2023 – 2032 |
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Quantitative units |
Revenue in USD million, Volume in Kilotons, and CAGR from 2023 to 2032 |
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Segments Covered |
By Type, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
Clariant International Ltd., Mitsubishi Gas Chemical Company, Inc., Solvay S.A., DowDuPont, BASF SE, Air Products and Chemicals Inc., Arkema S.A., Huntsman Corporation, Sinopec Corporation, and Akzo Nobel N.V. |
Delve into the intricacies of Amines Market in 2023 through the meticulously compiled market share, size, and revenue growth rate statistics by Polaris Market Research Industry Reports. Uncover a comprehensive analysis that not only projects market trends up to 2032 but also provides valuable insights into the historical landscape. Immerse yourself in the depth of this industry analysis by acquiring a complimentary PDF download of the sample report.
FAQ's
key companies in amines market are Clariant International Ltd., Mitsubishi Gas Chemical Company, Inc., Solvay S.A., DowDuPont, BASF SE.
The global amines market is expected to grow at a CAGR of 5.6% during the forecast period.
The amines market report covering key segments are type, application, and region.
key driving factors in amines market are increasing demand for crop protection chemicals in agriculture.
The global amines market size is expected to reach USD 71,776.83 million by 2032.
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