Amines continue to find a wide range of application across verticals such as agriculture, personal care, paints and coatings, and water treatment. As per the latest report published by Market Research Future (MRFR), the global market for Amines will grow at a healthy pace during the review period (2014-2022). Global demand for amines is unlikely to drop any time soon. Amines Market is witnessing strong gains in developing economies throughout LatAm, Middle East and Asia. Increased used of amines in consumer-oriented products has contributed to the increase in global supply. Meanwhile, the pesticides industry will continue to account for a substantial percentage of the overall amines consumption over the forecast period.
Rising popularity of fatty amines in the personal care industry is expected to reflect favourably on the Amines Market during the review period. Increased sales of amines-based wellness products in both developed and emerging markets is creating lucrative opportunities for suppliers. The widening application base of the material has led to a considerable rise in production. Amines Market will continue to exhibit a stable rise with minimum fluctuation. The market is expected to enter a saturation phase in developed economies whereas it will scale new heights is emerging economies.
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India based Chemicals Company Indo Amines is reportedly preparing to merge itself with its wholly owned subsidiary core chemical and key organics. The move is expected to aid the companies in increasing its profit and revenue as well as help it achieve economies of scale. The merger will also allow the company to use its approval of emulsifiers and agro surfactants with other multinational brands in India for exporting these products.
AkzoNobel Specialty Chemicals based in Dutch has recently initiated the construction of a model plant in Sweden. From this, the company aims to display more sustainable ethylene amines and their derivatives production from ethylene oxide.
Global Amines Market: Competitive Landscape
AkzoNobel NV, Huntsman Corporation, Tosoh Corporation, Celanese Corporation, BASF, Clariant AG, Oxea GmbH, The Dow Chemical Company, Mitsubishi Gas Chemical Company and Daicel Chemical Industries Ltd are top-notch companies operating in the Global Amines Market.
Global Amines Market: Segmental Analysis
MRFR’s report includes a comprehensive segmental analysis of the Amines Market based on Product Type and Application. Based on Product Type, the market has been segmented into specialty amines, ethylene amines, fatty amines, ethanol amines and alkyl amines. Of these, the ethanol amines segment currently commands the largest market share. Production of ethanol amines has increased significantly in recent years. They find application in production of various industrial agents such as corrosion inhibitors and cleaning agents. Some of the other amines variants that are likely to remain attractive include specialty amines, fatty amines and alkyl amines. Based on Application, the market has been segmented into cleaning products, water treatment, personal care, agriculture, pharmaceuticals paint & coatings, petroleum and others.
Global Amines Market: Regional Analysis
In the report, Amines Market has been covered across five major regions of the world, including North America, Asia Pacific (APAC), Latin America, the Middle East & Africa and Europe. Reflecting a nature of mature market, amines market in North America and Western Europe will post modest growth during the assessment period.
APAC, meanwhile, is expected to remain highly attractive over the next couple of years. In addition, the region will remain at the forefront of the global amines market during the forecast period. APAC, led by China has emerged as an attractive business destination for market players. Factors such as rapid industrialization, milder regulatory obligation, expansion of the chemical industry and widespread availability of resources and raw material are playing an important in fostering the amines industry in the region. Fast-developing countries APAC are increasing heavily in agriculture modernization, which is also driving the demand for amines. At the same time, the personal care industry is witnessing tremendous growth in the region thereby making a positive impact on the amines market.
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