Global Amines Market size worth over USD 28 billion by 2026
Published Date: October 14, 2020 Authors: Kunal Ahuja, Kritika Mamtani
According to a new research report by Global Market Insights, Inc., the Global Amines Market size is set to surpass USD 28 billion by 2026. Increasing instances of lifestyle disorders coupled with rising prevalence of chronic health diseases is likely to raise the demand for amines from the pharmaceutical sector.
The spread of infectious diseases such as COVID-19 may result in an increase in the awareness regarding cleanliness and personal hygiene, thus raising the demand for detergents and disinfectants which contain amines. The rising disposable income coupled with the increasing use of high-quality personal care and cosmetic products is expected to further accelerate the amines market growth.
Increasing applications in different end-use industries such as textile, paper, drilling, chemical, paint and metal to trigger the demand for fatty amines
Excellent surfactant and emulsifying properties of fatty amines are likely to raise its demand from different end-use industries including textile, paper, drilling, chemical, paint and metal working in the near future. The increasing demand for fatty amines as floatation and anti-caking agents is likely to further enhance amines market share.
Low cost and abundant availability of raw materials required for producing fatty amines coupled with its less hazardous nature may further raise the demand for fatty amines. The increasing demand for fabric softeners owing to the increasing awareness regarding health and hygiene is likely to further raise the amines market demand. Furthermore, increasing applications of tertiary fatty amines in ore floatation, gas treatment, chemical synthesis and corrosion prevention is expected to further aid the market growth.
Browse key industry insights spread across 240 pages with 244 market data tables and 25 figures & charts from the report, “Global Amines Market By Type (Ethanolamine, Alkylamine, Ethylene Amine, Fatty Amine and Specialty Amine), By Application (Water Treatment, Cleaning, Agriculture, Personal Care, Paint & Coatings, Pharmaceuticals, Petroleum, Gas Treatment, Others), By Function (Solvent, Chelating Agent, Corrosion Inhibitor, Bleach Activators, Surfactants, Others), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Increasing demand for ethanolamine and specialty amines in cosmetics and personal care products to augment growth of amines market
Increasing applications of triethanolamine in various cosmetic products such as mascara, blush, eye makeup, foundations, etc. owing to its excellent emulsifying properties is likely to foster the amines market growth. The increasing awareness regarding the importance of personal grooming and presentable looks is expected to further raise the product demand from the cosmetics and personal care industry.
The ability of different types of ethanolamines to balance the pH levels of skin and scalp encourages its use in various skin care and hair care products such as skin creams, sunscreens, moisturizers, shampoos, conditioners, hair colors and hair dyes, among others.
The ability of diethylamine salts to act as surfactants, antistatic agents, emulsifying agents and viscosity increasers may raise the product demand from cosmetics and personal care products. The amines market through personal care segment is expected to reach USD 3.05 billion by 2026 growing at a CAGR of 9% throughout the forecast period.
The increasing need to prevent corrosion in water systems and oil & gas pipelines to promote the use of amines as corrosion inhibitors
Growing industrialization and increasing set up of manufacturing plants with heavy engineering equipment is likely to pose the need for preventing corrosion in water systems such as power plants, industrial boilers and water pipelines, thus encouraging the use of amines as corrosion inhibitors. Moreover, the increasing oil extraction in oil refineries and gas treatment activities is likely to raise the demand for amines as corrosion inhibitors. Amines also act as oxygen and gas sulfide scavengers when used as corrosion inhibitors in water and gas pipelines.
Increasing shale gas extraction activities being carried out in North America is expected to further promote the use of amines as corrosion inhibitors. Amines market through corrosion inhibitor function is expected to reach USD 4.25 billion by 2026.
Increasing advancements in pharmaceutical industry coupled with prevalence of chronic diseases may foster growth of amines market in North America
North America amines market is expected to witness rapid growth reaching USD 5.95 billion by 2026 growing at a CAGR of 7.7% over the review period. North America is expected to witness healthy growth during the forecast period owing to the increasing number of pharmaceutical industries in the region and extensive research and development in this area.
The rapid spread of viral infections such as COVID-19 may increase the consumption of decongestants which contain amines, thus aiding the market growth. Rising prevalence of chronic diseases may increase the intake of pharmaceutical preparations, thus raising the product demand.
Major players are adopting different growth strategies such as mergers, acquisitions and capacity expansions to widen their existing product portfolio and meet the increasing consumer demands in the market. The primary market players include BASF SE, Alkyl Amines & Chemicals Ltd, Huntsman Corporation, Evonik Industries, Hexion, Balaji Amines, AkzoNobel, DowDuPont, Daicel Chemical Industries, Corbion, Volant-Chem, Lonza Corporation, Koei Chemical Company Limited, NOF Corporation and Luxi Chemical.
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