The global amines market is growing, due to the high growth from end-user industries and huge developments in the developing economies across the globe. The amines have several applications in different industries including agricultural, personal care and petroleum; therefore a high demand for amines is projected during the forecast period. Among the various types of amines, the ethanolamines segment held the largest share in the global amines market in 2015, and it was followed by alkylamines, fatty amines, ethyleneamines, and specialty amines, in terms of volume and value. The specialty amines segment is projected to witness the highest growth in the global amines market during 2016-2022. Similarly, among the various applications, the personal care segment accounted for the largest consumption of amines in 2015. The agriculture application segment is projected to be the second fastest growing segment after the ‘other’ segment.
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The developing economies of Asia-Pacific and Latin America, such as India, China and Brazil, and new amines grades in the market would offer ample opportunities for the growth of the amines market. The key manufacturers of amines may expand their geographical presence as well as their product portfolio in emerging economies to exploit the revenue generation opportunities in these countries. However, the stringent environment regulations in the European Union and North America are expected to hinder the growth of the global amines market to some extent. Moreover, the availability and cost of specialized raw materials, and limited market opportunities in the developed economies of North America and Europe are the key challenges for the manufacturers of amines.
Amines are the nitrogen containing organic compounds that are derived from ammonia (NH3). Amines are either naturally found or synthetically manufactured. Some of the naturally occurring amines are alkaloids (present in some plants), catecholamine neurotransmitters, and histamine (found in most animal tissues). Synthetically, amines may be manufactured through two broad methods – chemical reduction of organic nitrogen compounds and reaction of amines or ammonia with organic compounds. Amines are categorized into four major subcategories; primary amines, secondary amines, tertiary amines and cyclic amines. Commercially, amines are used in several applications such as in herbicide formulations; chemical intermediate for fungicide and algaecide products and adhesive chemicals; cement and concrete production; chelating agents; corrosion inhibitors; for gas treatment; manufacturing of ion exchange resins; petroleum production and refining operation; pharmaceuticals; surfactants, wood treatment; and water treatment.
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Some of the key players operating in the global amines market include BASF SE, Akzo Nobel N.V., The Dow Chemical Company, Clariant, Huntsman Corporation, Mitsubishi Gas Chemical Company Inc., OXEA, Taminco (a subsidiary of Eastman Chemical Company), Tosoh Corporation, and Arkema Group.
GLOBAL AMINES MARKET SEGMENTATION:
- Specialty Amines
- Fatty Amines
- Agricultural Chemicals
- Gas Treatment
- Cleaning Products
- Personal Care
- Water Treatment
- North America
- Rest of the World
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