Amines Market Size, Share & Industry Analysis, By Product (Ethanolamines {Triethanolamine, Diethanolamine, Monoethanolamine, and Methyl Diethanolamine}, Alkylamines {Ethylamines, Methylamines, and Others}, Ethyleneamines {Ethylenediamine, Tetraethylene Enepentamine, Diethylentriamine, and Others}, Fatty Amines, and Specialty Amines), By Application (Pesticides, Surfactants, Water Treatment, Personal Care Products, Gas Treatment, Pharmaceuticals, and Others), and Regional Forecast, 2024-2032

The global amines market size was valued at USD 15.76 billion in 2023 and is projected to grow from USD 16.28 billion in 2024 to USD 22.83 billion by 2032 at a CAGR of 4.2% during the forecast period. Asia Pacific dominated the amines market with a market share of 41.94% in 2023. Moreover, the amines market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 3.9 billion by 2032, driven by strong demand from healthcare & pharmaceutical industry.

Amines are organic compounds containing a nitrogen atom bonded to one or more alkyl or aryl groups. They are commonly used in a variety of applications, including pharmaceuticals, pesticides, and dyes. The product can be classified into three main categories: primary, secondary, and tertiary. Primary has one alkyl or aryl group attached to the nitrogen atom. In contrast, secondary and tertiary have two or three such groups, respectively. The product can also be classified as aliphatic or aromatic, depending on whether the nitrogen atom is part of an aliphatic or aromatic ring.

Moreover, aliphatic products are typically less reactive than aromatic and are often used as solvents or surfactants. Aromatic products, on the other hand, are more reactive and have a wide range of applications in the production of dyes and polymers. Overall, amines are an important class of compounds that play a significant role in the development of many industries, which are expected to foster market growth.

The COVID-19 pandemic had a significant impact on this market, leading to major disruptions in the supply chain and a notable decrease in the demand for amines. As a result, manufacturers faced a range of challenges as they strived to adjust to the ever-changing market conditions. Despite these obstacles, the industry showed remarkable resilience and adaptability, with numerous companies innovating and coming up with new solutions to meet the demands of the customers.

Amines Market Trends

Specialty Products Harnessing the Growth and Innovation in the Market

Specialty products are widely used in chemical processes as catalysts, intermediates, and additives. Their capacity to adjust selectivity and improve kinetic reaction makes them indispensable in the petrochemicals, agrochemicals, and pharmaceutical industries. As these industries continue to expand, the demand for specialized amines tailored to unique chemical requirements also increases.

Another major contributor to the increased demand for specialty amine is the healthcare sector. These chemicals are vital components of pharmaceuticals, allowing the development of life-saving treatments and medications. Moreover, the growth in demand for specialty products is fueled by their versatility and critical significance in a variety of sectors.

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Amines Market Growth Factors

Increasing Use of the Product and its Derivatives in Personal Care Products and Cosmetics to Drive Market Growth

The trend is anticipated to grow during the forecast period owing to the growing demand from the personal care industry. The consumption of products is rising in the personal care industry, where the product compound is mainly used in moisturizers and creams, and the ammonia compound is used as an emulsifier and foaming agent. Moreover, the increasing demand for personal hygiene and self-care products around the globe is expected to drive the consumption of amine substances, and primarily, this trend will drive the amines market share in the coming years.

Strong Demand from Healthcare & Pharmaceutical Industry to Support Market Growth

The healthcare & pharmaceutical industry has been a major consumer of amines due to their versatile nature and unique properties. Amines are used in the production of a wide range of pharmaceuticals, such as antihistamines, anticonvulsants, and anticancer drugs. They are also used in the production of medical equipment, such as syringes, catheters, and IV bags. One of the key benefits of using amines in the healthcare industry is their ability to act as active ingredients in many medications. For example, some antidepressants work by increasing the amount of certain neurotransmitters in the brain, and amines are used to produce these neurotransmitters. Amines are also used to make local anaesthetics, which are used to numb specific areas of the body during medical procedures.

Overall, the demand for amines from the healthcare & pharmaceutical industry is expected to continue to grow in the coming years. As new medications and medical devices are developed, the need for amines will continue to increase, making them an important component of the healthcare industry.

RESTRAINING FACTORS

Stringent Regulatory Environment May Hinder Market Growth

The government has implemented strict regulations regarding the use of products in various industries. These guidelines are in place to ensure the safety of workers and consumers alike, as amine can pose significant health risks if not handled properly. Companies that use products must adhere to strict guidelines and safety protocols, including proper handling, storage, and disposal procedures. Failure to comply with these regulations can result in hefty fines, penalties, and potential harm to individuals and the environment. While material can be useful in various applications, companies need to prioritize safety and follow all necessary guidelines to protect the well-being of associated employees. These factors are expected to hinder the market growth during the forecast period.

Amines Market Segmentation Analysis

By Product Analysis

Ethanolamines Segment Held a Dominant Share Due to its Wide Usage in End-Use Applications

On the basis of product, the market is categorized into ethanolamines, alkylamines, fatty amines, specialty amines, and ethyleneamines.

The ethanolamines segment held a dominant market share in 2023. Ethanolamine is a versatile compound that is used in a wide variety of applications and is a key ingredient in many personal care products, such as shampoos, soaps, and lotions. It is also used in the production of detergents, pesticides, and pharmaceuticals. In addition, ethanolamine is used in gas-sweetening processes to remove carbon dioxide and hydrogen sulfide from natural gas. Its ability to efficiently absorb these gases makes it an important component in the natural gas industry, thus providing significant impetus to amines market share over the past years.

By Application Analysis

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Pesticides Segment to Hold Major Share Owing to the Growing Demand from Agriculture Industry to Protect Crops from Pests and Diseases

On the basis of application, the market is segmented into pesticides, surfactants, water treatment, personal care products, gas treatment, pharmaceuticals, and others.

The pesticides segment held the largest market share in 2023. The product is commonly used in the crop protection industry due to its effectiveness in controlling pests and diseases. These chemicals are used to create formulations that can be applied to crops to prevent or treat issues that could cause crop loss. These work by disrupting the nervous system of pests, which can ultimately lead to their death. They are also effective in preventing the growth of fungi and other harmful organisms. Overall, the use of amine in crop protection is an important tool for farmers to ensure the health and productivity of their crops.

In the personal care industry, the product is commonly used as a foam booster in shampoos and other products. Moreover, secondary products are particularly effective in this role. They help create a rich lather that can effectively clean hair and skin without irritating. In addition, amines are often used in other personal care products, such as lotions and creams, to help emulsify oils and other ingredients. This helps create a smooth, even texture that feels great on the skin. Overall, this product is an important ingredient in many personal care products, helping to create products that are both effective and gentle on the skin.

REGIONAL INSIGHTS

Based on region, the market is divided into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.

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Asia Pacific holds a dominant position in the market. It is a major agricultural hub, with China, India and Indonesia having large-scale farming operations. The rising demand for protecting crops against different pests is likely to drive the demand for amine consumed in the production of pesticides and other agrochemicals. Moreover, pesticide usage is expected to keep rising as the countries in the region adopt large-scale commercial farming to maximize crop yield in order to ensure food security for their rising population. This, in turn, will benefit and drive market growth.

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The market in North America is likely to grow considerably during the forecast period.  The product is becoming increasingly popular in the North American market as more consumers are becoming aware of its end-use application. Factors such as higher consumption of pesticides, personal care products, pharmaceuticals and the developed chemical industry are prominently fueling the product demand in the U.S. Furthermore, many companies operating in the U.S. have been actively engaged in research and development for new products, which will provide a boost to the demand for the product.

Europe has witnessed significant industrial development in the last decade. The growing building and construction, automotive, pharmaceutical and personal care industries are driving the amine demand in the region owing to wide applications of products in the manufacturing of paints and coatings, adhesives, synthetic rubber, fuel additives, building blocks and additives for drugs & dosage forms, and personal care products.

In Latin American countries, the demand for amine-based surfactants is growing due to increasing hygiene awareness. The expanding personal care sector is also expected to foster product demand during the forecast period.

On the other hand, the expanding tourism and personal care sector in Middle Eastern countries is anticipated to drive higher adoption of amine-based surfactants. As these economies grow and consumer preferences evolve, demand for this material in the surfactant industry is expected to rise, driving market growth.

List of Key Companies in Amines Market

Acquisition, Partnerships, and Capacity Expansion are the Key Strategic Initiatives Adopted by Companies to Boost Market Presence

Major players operating in the market are BASF SE, Dow Chemical, Arkema S.A., Eastman Chemical Company, Huntsman Corporation and others. Companies are involved in capacity expansion, new product launches, joint ventures, acquisitions, and partnerships to gain a competitive edge in the market.

Moreover, BASF SE has a strong presence in Europe. The company is the region's biggest manufacturer of specialty chemicals that deals in six market segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. Similarly, other key market players have established a strong regional presence, robust distribution channels, and varied product offerings.

LIST OF KEY COMPANIES PROFILED:

• BASF SE (Germany)


• Dow Chemical (U.S.)


• Arkema S.A. (France)


• Eastman Chemical Company (U.S.)


• Huntsman Corporation (U.S.)


• SABIC (Saudi Arabia)


• Tosoh Corporation (Japan)


• Amines & Plasticizers (India)


• Celanese Corporation (U.S.)


• INEOS Group (U.K.)

KEY INDUSTRY DEVELOPMENTS:

• May 2023: Eastman's care additives business completed the expansion of its tertiary amine capacity, primarily DIMLA 1214, at both its Belgium, Ghent, and Florida Pace manufacturing sites. Such expansion helped the company capture huge market opportunities in Europe and North America.


• June 2022: BASF announced to increase the production capacity for amine manufactured at its Geismar, Louisiana site by mid-2023. Such expansion will help the company expand production of amine.


• March 2022: Brenntag Specialties and BASF announced plans to expand collaboration for the distribution of amine. Brenntag became the exclusive distributor in the U.S. and Canada for BASF’s Polyetheramines portfolio.


• September 2021: Huntsman Corporation introduced the E-GRADE specialty amine in the performance product division that is used in the electronics sector to enhance the performance of semiconductor manufacturing.


• August 2021: Huntsman Corporation announced the expansion of its performance product division and plans to expand the manufacturing facilities in Hungary in order to meet the rising demand for specialty amine and polyurethane catalysts. The expansion is expected to increase the company’s capability and offer more innovative and flexible technologies for coatings, metalworking, polyurethanes, and the electronics industry.

REPORT COVERAGE

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The report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, products, and applications. It also offers insights into market trends and highlights vital industry developments. This report includes historical data that forecasts revenue growth at global, regional, and country levels and analyzes the industry's latest market dynamics and opportunities. In addition to the factors mentioned above, the report encompasses various factors that have contributed to the market's growth in recent years.

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