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Global Amines Market size was over USD 17 billion in 2020 and is estimated to grow at a CAGR of 8% from 2021 to 2027. The increasing adoption of modern agricultural practices and growing awareness among farmers regarding the importance of increasing crop yield per hectare of cultivable land area are likely to raise the demand for agrochemicals, in turn, escalating product demand.
Rising demand for paints & coatings from the construction sector owing to increasing residential construction & infrastructural development activities across the globe is expected to boost the product demand during the forecast period. Moreover, growing consumer awareness of the importance of presentable looks in both personal and professional spaces is likely to raise the demand for high-end cosmetic and personal care products.
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Amines are nitrogen-containing organic compounds derived by the substitution of one or more hydrogen atoms by an alkyl or aryl group. Different types of amines, such as ethanolamine, alkyl amine, ethylene amine, fatty amine, specialty amine, and Amino Methyl Propanol (AMP), are used in numerous commercial applications as a solvent, chelating agent, corrosion inhibitor, bleach activators, and surfactants, among others.
Report Coverage | Details |
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Base Year: | 2020 |
Market Size in 2020: | 17.30 (USD) Billion |
Forecast Period: | 2021 to 2027 |
Forecast Period 2021 to 2027 CAGR: | 8% |
Historical Data for: | 2016 to 2020 |
No. of Pages: | 503 |
Tables, Charts & Figures: | 520 |
Segments covered: | Product, Application, Function |
Growth Drivers: |
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Pitfalls & Challenges: |
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Smaller amines may cause health hazards, such as irritation to the skin and mucous membranes of the throat, lungs, eyes & nose, due to prolonged exposure. Increasing instances of acute health disorders including pulmonary edema result in shortened breath and gasping owing to prolonged exposure to allylamines. Moreover, evidence of clinical studies showing the formation of carcinogenic nitrosamines in cosmetic products containing diethanolamines may reduce the rate of acceptance of such products to some extent among consumers and hamper the amines market growth over the forecast timeframe.
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The global ethanolamines market was valued at over USD 6 billion in 2020 and is expected to witness healthy growth at a CAGR of 7.5% from 2021 to 2027. This high demand for ethanolamines in 2020 was attributed to its remarkable properties, such as excellent surfactant properties, emulsification, bleach activation solvency, and good chelation, which make them an ideal fit for use in different end-use applications.
The global monoethanolamines business was valued at over USD 3 billion in 2020 and is expected to grow at a CAGR of around 8.5% over the forecast period. The ability of monoethanolamines to maintain the optimum pH level of the soil coupled with the rising demand for agrochemicals and advanced technology in agriculture is likely to augment the amines market share.
The global triethanolamines market was valued at over USD 1.1 billion in 2020 and is expected to witness considerable growth at a CAGR of 7.5% over the assessment period. Moreover, the remarkable surfactant properties of triethanolamine, growing consumer demand for luxury and premium cosmetic & personal care products, and stringent regulations of the European Commission prohibiting the use of diethanolamine in cosmetic products to reduce the adverse effects of carcinogenic nitrosamines will result in an exponential increase in the demand for triethanolamines over the forecast period.
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Changing consumption patterns, increasing sedentary lifestyles & deskbound work cultures, and improper habits of consumers, such as excessive consumption of alcohol, cigarettes & tobacco, have led to an increased prevalence of lifestyle disorders such as diabetes, blood pressure, and cholesterol, among others. The growing demand for amines as intermediates in manufacturing analgesic drugs, such as morphine, lidocaine & novocaine, and as recreational drugs to relieve pain & treat various health disorders, such as acidity and gastrointestinal disorders, is expected to propel the amines market growth over the forecast period.
The global amines market from pharmaceutical application was valued at over USD 4.5 billion in 2020 and is expected to register significant gains at a CAGR of over 9% during the forecast timeframe. Moreover, different types of ethyl amines, such as triethyl amine and diethyl amine, find applications in manufacturing various drugs & pharmaceutical formulations, such as remdesivir, hydroxychloroquine, and favipiravir, and are used to treat COVID-19. An exponential increase in the number of COVID-19 cases across the world is likely to dramatically escalate the demand for amines from the pharmaceutical sector.
The excellent solvency of amines makes them an ideal fit for use as intermediates in the manufacturing of a variety of products such as agrochemicals, chemicals, drugs & pharmaceutical formulations, paint & coatings, etc. Increasing industrialization coupled with the rapid growth of the chemical industry globally is expected to boost product demand for chemical production. The increasing rate of adoption of advanced agricultural techniques involving the use of agrochemicals, such as pesticides and fertilizers, is expected to further boost the amines market growth over the forecast period.
Moreover, the excellent solvency property of amines is likely to provide promising opportunities for use in carbon dioxide absorption during natural gas sweetening and gas treatment applications. The increasing oil exploration & refining activities across the globe will further boost the use of amines as a solvent in gas treatment applications. The global amines market from solvent function was valued at over USD 6 billion in 2020 and is expected to grow at a CAGR of 8.5% from 2021 to 2027.
Asia Pacific led the global amines market in 2020 with a value of over USD 7.5 billion and is expected to grow at a CAGR of 9.2% over the forecast period. This high growth rate is mainly attributed to the rising product demand from agrochemical manufacturing applications. Rising demand for different types of amines, such as diethanolamines, to produce glyphosate, which is used to improve the quality of herbicides is likely to augment market growth in the region. Rising awareness among farmers regarding the need to increase crop yield within the available cultivable land and increasing adoption of modern agricultural techniques will further boost product demand in the agricultural sector.
Moreover, the sudden occurrence and rapid transmission of the COVID-19 infection have raised consumer awareness on the importance of basic hygiene & sanitization. These factors will boost the demand for disinfectants and cleaning agents, fostering market growth in the region. In addition, rising concerns regarding the purity of drinking water coupled with a rise in the level of water pollution due to continuously increasing industrialization will further boost the demand in the water treatment industry and foster market growth.
Key players operating in the amines industry are Volant Chem Corp., Alkyl Amines & Chemicals Ltd. (AACL), Koei Chemical Co., Ltd., Balaji Amines, BASF SE, Luxi Chemical Co., Ltd., Huntsman Corporation, Indo Amines Limited (IAL), Hexion Inc., NOF Corporation, Nouryon Chemicals, Dow Chemicals, Solvay, Daicel Corporation, Lanxess, Evonik Industries AG, Global Amines Company, Amines & Plasticizers Ltd. (APL), Kao Corporation, Eastman Chemical Company, Sterling Auxiliaries Pvt. Ltd., Arkema, Mitsubishi Gas Chemical Company, and Tosoh Corporation.
Companies are generously investing in research & development to develop innovative amine formulations with added benefits and improved functional performance. Moreover, few market participants are also focusing on expanding their existing production capacity to meet the increasing product demand from different end-use industries such as surfactants, cleaning agents, personal care products, etc.
For instance, in June 2020, BASF SE introduced the OASE sulfexx, a new highly energy-efficient amine gas treatment technology, in collaboration with Licensing LLC and ExxonMobil Catalysts. The companies jointly developed the amine-based solvent to help petroleum refiners and gas processors in meeting future requirements, while also increasing capacity and lowering operating costs of existing equipment.
In November 2020, Eastman Chemicals increased its production of tertiary amines (DIMLA) at its Ghent facility in Belgium. The capacity expansion is expected to be completed by the end of 2021. The strategic initiative will enable the company to meet the increasing demands from its customers for hand wipes, hand sanitizers, cleaning & sanitizing sprays, and liquid dish soap, among other cleaning products amidst the surging COVID-19 pandemic.
The global amines market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons & revenue in USD Million from 2016 to 2027 for the following segments:
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