Amines Market

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• COVID-19 Impact Tracker

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AMINES MARKET ANALYSIS

• Amines Market, By Product Type (Ethanolamines,
  Alkylamines, Fatty amines, Others), By
  Application (Crop Protection Chemicals, Water
  Treatment, Personal Care, Surfactants, Others),
  and By Region (North America, Europe, Asia
  Pacific, Latin America, Middle East Africa) -
  Size, Share, Outlook, and Opportunity Analysis,
  2020 - 2027

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Amines are intermediates chemical compound that
is used in the manufacturing of other chemical
products. It is produced by alkylation of
alcohols or reduction of nitriles. They are
categorized into primary amines, secondary
amines, tertiary amines, and cyclic amines.
Amines are widely used in the production of
herbicide formulations, cement and concrete,
corrosion inhibitors, chelating agents, and
petroleum products. The global amines market is
projected to reach around US 17,675.1 million by
the end of 2027, in terms of revenue, growing
at CAGR of 3.5 during the forecast
period (2020-2027). Drivers High demand for
agricultural chemicals such as herbicides and
pesticides is expected to augment the market
growth of amines. Ethanolamine and
ethylenediamine are widely used in the production
of agricultural chemicals. The growing need for
crop protection and high yield crops in order to
meet the rising demand for food due to the
increasing population is expected to foster the
market growth of the amines.
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Figure 1. Global Amines Market Share () in terms
of Value, By Region, in 2019
North America region dominated the global amines
market in 2019, accounting for 34.3 share in
terms of value, followed by Asia Pacific and
Europe, respectively.
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Market Restraints The growing use of bio-based
products for agriculture chemicals and products
is expected to act as a restraining factor for
the market of amines.
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Market Opportunities Growing demand for amines
from the pharmaceutical industry for
manufacturing of pain killers is expected to
offer immense growth opportunities for the market
of amines. Morphine and Demerol are mainly used
as analgesics. Growing geriatric populations
coupled with the rising prevalence of the various
chronic disease is fueling demand for healthcare
needs. Thus, the growth of the pharmaceutical
industry is escalating the market growth of
amines.  The rise in the personal care industry
where amines are used in the manufacturing of
toiletries, skincare, hair care, cosmetics, and
fragrances products are projected to offer
lucrative market opportunities. Change in
lifestyle is increasing the spending power of
consumers on personal care and hygiene products.
Moreover, the emergence of online channels is
further increasing the sale of personal care
products, thereby augmenting the market growth of
amines. 
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Figure 2. Global Amines Market Opportunity
Analysis
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Market Trends Alkylamines and fatty amines are
gaining traction in the market due to growing
demand for the production of corrosion
anti-cackling agents, inhibitors, emulsifiers,
froth flotation agents, and additives are
expected to fuel market growth. Increasing demand
for cleaners and detergents is also expected to
foster the market growth of amines. Thus, the
growing popularity of alkylamines and fatty
amines are propelling the market growth of the
amines.
Figure 3. Global Amines Market Share () in terms
of Value, By Application, in 2019
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Global Amines Market - Impact of Coronavirus
(Covid-19) Pandemic

• Many countries across the globe resorted to
  lockdowns to flatten the curve of the infection.
  The lockdowns have resulted in shutting of
  businesses and ceasing of almost all economic
  activities. According to International Monetary
  Fund, the global economy is expected to contract
  sharply by -3.0 in 2020, which is much worse
  than 2008-09 financial crisis. The virus will
  impact major producers of agrochemicals, and the
  entire ecosystem of agrochemicals including raw
  materials suppliers, formulators, distributors,
  and retailers. This is expected to impact demand
  of amines during the pandemic. According to
  Coherent Market Insights, amines market is
  expected to grow at a lower CAGR between 2020 and
  2021.

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• Competitive Section
• Company Names 
• Arkema SA
• AkzoNobel N.V.
• Alkyl Amines Chemicals Ltd.
• BASF SE
• BASF-YPC Company Limited
• The Dow Chemical Company
• Huntsman Corporation
• Mitsubishi Gas Chemical Company Inc.
• Few Recent Developments
• In September 2017, BASF has announced a plan to
  open a new specialty amines plant at its site in
  Nanjing Chemical Industry Park in China. The new
  multi-product plant can manufacture 21,000 metric
  tons per year.
• In April 2019, BASF has announced to increase the
  production capacity of Alkylethanolamines (AEOA)
  by 20 percent at the BASF Verbund site in
  Ludwigshafen.

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