Global Amines Market is expected to reach US $ 39.56 BN By Forecast year 2028

September 09 07:34 2021
Global Amines Market is expected to reach US $ 39.56 BN By Forecast year 2028
Amines Market Data And Industry Growth Analysis | Stratistics Market Research Consulting
Amines Market size is expected to grow from US $ 17.92 BN in 2020 to US $ 39.56 BN by 2028, at a CAGR of 10.4%.

The market report “Amines Market by Types (Alkyl Amine, Ethanol Amine, Ethylene Amine, Fatty Amine, Specialty Amine), Functions (Bleach Activators, Chelating Agent, Corrosion Inhibitor, Solvent, Surfactants), Applications (Adhesives, Paints, and Resins, Cleaning Products, Crop protection, Gas Treatment, Surfactants and Water Treatment Cleaning), End User (Agricultural Chemicals, Oil and Petrochemical, Personal Care, Pharmaceutical, Rubber and Textile) and Region – Forecast to 2028”. The amines market is growing at a CAGR of 10.4% by 2028, owing to the rising prevalence of chronic health disorders such as diabetes, blood pressure, cholesterol, and heart problems.

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Based on application the crop protection segment is estimated to grow at highest CAGR segment during the study period.On the basis of application the market is categorised into adhesives, paints, and resins, cleaning products, crop protection, gas treatment, surfactants and water treatment cleaning. Crop protection is estimated to be the fastest-growing market segment strongly driven by the changing dynamics of the agricultural division across the globe. The modernization of agricultural practices is predictable to drive the demand for crop protection chemicals, which will result in higher demand for amines.

Based on end user, the personal care segment is anticipated to grow faster during the forecast period.On the basis of end user, the market is segmented into agricultural chemicals, oil and petrochemical, personal care, pharmaceutical, rubber and textile. The personal care segment is projected to grow faster during the forecast period. The segment caters to products for skin care, hair care, personal hygiene, oral care, and cosmetics, which account for a significant share in the FMCG industry. The rapidly growing FMCG industry in emerging economies is expected to drive the application, which in turn is likely to drive the product demand in personal care applications.

By geography, Europe is expected to dominate the marketOn the basis of geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe holds the dominant position in the amines market. This is mainly attributed to the presence of key market players including BASF SE in the province, with huge manufacturing capacities. Germany represented an important share in terms of both capacity and income, primarily on account of a large number of market contributors in the country.

The key players in this market are BASF SE, Lonza Corporation, Luxi Chemical Co., Ltd, AkzoNobel N.V., Alkyl Amines & Chemicals Ltd, Balaji Amines, Corbion, Daicel Chemical Industries Ltd, Delamines B.V, Hexion Inc, Huntsman Corporation, NOF Corporation, Oxea GmbH, Taminco and Volant-Chem Corp.

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