Global Amines Market size worth above $30 billion by 2027

According to a new research report by Global Market Insights Inc., the global Amines Market size is set to surpass USD 30 billion by 2027. Rising consumer awareness of the importance of personal hygiene and sanitization during the COVID-19 pandemic is likely to boost the demand for amines in the manufacturing of detergents and cleaning & sanitization products during the forecast period.
 

Changing consumer lifestyles, rising awareness of the importance of personal grooming, and increased consumer spending on premium beauty care & cosmetic products are expected to escalate product demand among millennials and from the personal care industry. These factors will bolster the amines market growth during the assessment period.

 

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A rapid surge in demand for alkyl amines from different end-use industries to propel the market growth

The global alkyl amines was valued at over USD 2.5 billion in 2020 and is expected to record a remarkable growth at a CAGR of 11% over the forecast timeframe. Rising demand for alkyl amines from different applications including the manufacturing of plastics, dyes, chemicals, and solvents, among several others is likely to propel the amines market share over the forecast period.
 

Rising focus of farmers on increasing farm productivity through the use of agrochemicals, increasing need for food due to the continuously increasing population, and increased adoption of modern agricultural techniques are expected to escalate the demand for methyl amines from the agriculture industry. The increasing usage of methyl amines in gas treatment & oil exploration activities will further boost market growth. The global methyl amines market was valued at over USD 850 million in 2020 and is expected to grow at a CAGR of 10.5% over the forecast period.
 

Furthermore, an exponential increase in the demand for different types of ethyl amines, such as triethylamine and diethylamine, to manufacture remdesivir, which is widely used in the treatment of COVID-19 across the globe is expected to drive the market growth. A steep rise in the number of COVID-19 patients during the second wave coupled with a threat of the third wave looming over many countries across the globe is projected to further ramp-up the demand for ethyl amines. The global ethyl amines industry was valued at over USD 890 million in 2020 and is expected to grow at a CAGR of around 11.5% over the review period.
 

Browse key industry insights spread across 500 pages with 470 market data tables and 45 figures & charts from the report, “Global Amines Market By Type (Ethanolamine {Monoethanolamine, Diethanolamine, Triethanolamine, Methyl Diethanolamine}, Alkylamine {Methyl Amine, Ethyl Amine, Propyl Amine}, Ethylene Amine {Ethylenediamines, Diethylenetriamine, Tetraethylenepentamine, Aminoethylpiperazine (AEP), Piperazine}, Fatty Amine, Specialty Amine, Amino Methyl Propanol (AMP)), By Application (Water Treatment, Cleaning, Agriculture, Personal Care, Paint & Coatings, Pharmaceuticals, Petroleum, Gas Treatment), By Function (Solvent, Chelating Agent, Corrosion Inhibitor, Bleach Activators, Surfactants), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/amines-market
 

Increasing consumer spending on high-end cosmetic products coupled with rising demand for hand sanitizers amidst the rapid transmission of COVID-19 infection to boost the demand for amines from personal care applications

Growing consumer awareness of the importance of presentable looks in both personal & professional spaces, increasing number of premium brands offering personal grooming products, changing consumer lifestyles, and increased consumer spending on high-end cosmetic products, such as eyeliners, mascaras, blush, and foundations, are likely to boost product demand from the personal care application.
 

Moreover, numerous attributes of different types of amines including good emulsifying properties, the ability to maintain pH levels of the skin & scalp, and surfactant, antistatic & viscosity increasing properties will further contribute to the increasing product demand from different skin care & hair care products over the forecast period.
 

Furthermore, increasing demand for hand wipes, hand sanitizers, and various cleaning & sanitizing sprays to reduce the transmission of the COVID-19 infection is expected to raise the demand for amines from the personal care sector. Increasing efforts by major market players to increase their production of tertiary amines through capacity expansion in the wake of the COVID-19 pandemic will further drive the amines market growth. The global personal care application was valued at over USD 2.9 billion in 2020 and is expected to grow at a CAGR of over 8.5% throughout the assessment period.
 

Ability to offer additional bonding surface and excellent water, oil & acid resistance of amines to promote product usage as a corrosion inhibitor

The ability of amines to offer an additional bonding surface to the fluid that comes in contact with them is likely to provide an application scope for their use as a corrosion inhibitor. Moreover, the excellent water, oil & acid resistance of amines will further promote their application in boilers and storage tanks used in different manufacturing industries. Rapidly increasing industrialization coupled with increasing efforts of the industries to cause minimal deterioration of pipes, reactors & other equipment used in production plants and enhance their overall shelf life is expected to promote the use of amines as corrosion inhibitors.
 

The global amines market from corrosion inhibitor function was valued at over USD 2.4 billion in 2020 and is expected to grow at a CAGR of over 8% from 2021 to 2027. High susceptibility of pipes, storage vessels, oil tanks, and other equipment used in oil refining & gas treatment applications to corrosion owing to their prolonged exposure to oils and other fluids is likely to encourage the use of amines as corrosion inhibitors in the oil & gas industry.
 

Rising product demand from the water treatment industry to drive the Europe amines market growth

The Europe amines market was valued at over USD 3.2 billion in 2020 and is expected to witness considerable growth at a CAGR of 8.4% over the forecast period. Rapidly growing industrialization and increasing concerns regarding the purity of drinking water is expected to boost water treatment industry growth. In addition to that, rise in the number of water & wastewater treatment plants in the region will further boost product demand from water treatment applications.
 

Prominent players operating in the amines industry are focusing on new product developments through extensive research activities. Players are also entering into partnerships and collaborations with other market participants to enhance their technological capabilities and product offerings. 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 are some of the prominent players in the market.
 

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