Global Amines Market By Product (Ethanol Amines, Fatty Amines, Alkyl Amines, Others), By Application (Crop Protection, Surfactants, Water Treatment, Personal Care, Gas Treatment, Others), By Region, Competition, Forecast and Opportunities 2028
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationGlobal Amines Market By Product (Ethanol Amines, Fatty Amines, Alkyl Amines, Others), By Application (Crop Protection, Surfactants, Water Treatment, Personal Care, Gas Treatment, Others), By Region, Competition, Forecast and Opportunities 2028
| Forecast Period | 2024-2028 |
| Market Size (2023) | USD 13.67 billion |
| CAGR (2023-2028) | 4.19% |
| Fastest Growing Segment | Surfactants |
| Largest Market | Asia Pacific |
Market Overview
Global Amines Market has valued at USD 13.67 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 4.19% through 2028. Amines are utilized in the agricultural sector as a nitrogen source and natural fertilizer. The robust growth of this sector, driven by the increasing demand for high yields and improved crop protection, is boosting the demand for amines. The usage of amines in agrochemicals to enhance pesticide solubility in water is also contributing to market growth. Moreover, amines play a crucial role in plastic softening and carbon dioxide removal from ammonia gas, leading to the production of synthetic ammonia and further stimulating market expansion. Furthermore, various end-use industries such as chemicals, energy, and plastics benefit from the applications of amines, supporting market growth. The rapid growth of the construction and infrastructure industry is an additional driver for market expansion. Amines are also employed as additives in paint coatings, with recent technological advancements resulting in the development of high-quality amines for this purpose. For example, multifunctional amines provide excellent co-dispersion, viscosity stability, film performance, and additive optimization for waterproof coatings, thereby catalyzing the amine market. Furthermore, due to their emulsification properties, amines find application in various industrial sectors, including gas treatment and chemical manufacturing, further contributing to industry growth.
Key Market Drivers
Growing Usage of Amines in Personal Care and Cosmetics Products
Amines are associated with numerous medicinal benefits and contribute to the treatment of life-threatening allergic reactions caused by insect bites or stings, foods, medications, latex, and other factors. This, in turn, drives market growth. Furthermore, the increased awareness of hygiene due to the coronavirus pandemic has bolstered the demand for personal and home cleansing products, further augmenting market growth. Amines find applications in various cleaning products such as floor and tile cleaners, as well as laundry detergents, effectively removing dirt, grease, and stains and supporting market expansion. Additionally, the thriving cosmetics industry is accelerating the growth of the amines market. Amines play a crucial role in personal care and cosmetics products by regulating pH levels and reducing surface tension. They are extensively used in cosmetics like eyeliner, mascara, brushes, hair care products, sunscreens, and skin cleansing products, among others, thereby driving market growth. Furthermore, the increasing consumer awareness of safe water usage is propelling the amines industry. Amines are employed to mitigate the effects of carbon dioxide and other acids, as well as to control the pH of water. According to the World Health Organization (WHO), nearly 785 million people lack access to basic drinking-water services, resulting in various waterborne diseases such as diarrhoea, cholera, dysentery, polio, and typhoid. The growing awareness of contaminated water and the measures taken by governments and organizations to ensure safe drinking water are expected to fuel the market growth.
Increasing Demand for Liquid Detergent
Amines, a versatileclass of organic compounds, have a wide range of applications acrossindustries. The increasing demand for liquid detergents has emerged as a keydriver behind the growing global market for amines. Derived from ammonia,amines play a crucial role in formulating liquid detergents. They serve assurfactants, reducing the surface tension of water and enhancing itsinteraction with oils and other hydrophobic substances. This property makesamines essential for creating detergents that effectively lift and removestains, dirt, and oils from fabrics and surfaces. The selection of amines usedin liquid detergents varies depending on the desired product characteristics.Primary amines are commonly used as emulsifiers, facilitating the dispersion ofoils and greasy soils. On the other hand, tertiary amines act as antistaticagents, improving the softness and smoothness of fabrics. As consumerlifestyles evolve and technology advances, there is a growing preference forconvenience and efficiency. Liquid detergents offer ease of use and the abilityto handle a wider range of cleaning tasks, driving consumer preference.Additionally, liquid detergents often have a lower environmental impact as theyare effective in cold water washes, saving energy. The increasing demand foreco-friendly alternatives further boosts the demand for liquid detergents.Rapid urbanization has led to smaller living spaces and higher populationdensities, creating a need for more compact and versatile cleaning solutions.Liquid detergents fulfill this requirement by occupying less storage space whileproviding superior stain-removing capabilities.
Growing Demand of Amines for Water Treatment
In recent years, the global market for amines has witnessed remarkable growth, with a significant driving force being the escalating demand for amines in water treatment applications. Amines, characterized by the presence of nitrogen, are organic compounds that have found extensive utility across diverse industries. Their role in water treatment has gained increased attention due to mounting concerns over water quality and environmental sustainability. One of the key applications of amines in water treatment is their use as corrosion inhibitors. Corrosion of water infrastructure and industrial equipment can result in structural damage, increased maintenance costs, and potential health risks. Amines can form a protective layer on metal surfaces, preventing the interaction of metal with water and mitigating corrosion. Additionally, amines play a significant role in pH control. Acting as both acid and base neutralizers, amines aid in maintaining desired pH levels in water treatment processes. This is crucial for ensuring the efficiency of various chemical reactions and minimizing the adverse effects of extreme pH conditions on equipment and the environment. Industries such as power generation, petrochemicals, pulp and paper, and textiles heavily rely on water in their processes. The expansion of these industries, particularly in developing economies, drives the demand for efficient water treatment methods, thereby increasing the need for amines. Furthermore, growing awareness about water scarcity, pollution, and environmental sustainability puts industries under pressure to adopt responsible practices. Amines offer a viable solution for addressing water-related challenges in a more environmentally friendly manner. With technological advancements, regulatory support, and heightened awareness of the need for responsible water management, the amines market is poised for continued growth and innovation in the realm of water treatment.
Key Market Challenges
Stringent Government Rules Associated with Amines
Amines are the organic compounds derived from ammonia, play a crucial role in the production of a diverse range of products. These products include solvents, surfactants, agrochemicals, and corrosion inhibitors. However, despite the promising growth prospects, the industry faces a significant challenge in the form of stringent government regulations. These regulations aim to address environmental and health concerns associated with the production, use, and disposal of amines. The release of amines into the environment can contribute to air and water pollution. Hence, regulations often mandate the reduction of emissions of volatile organic compounds (VOCs), including certain amines, from industrial processes. Additionally, the proper disposal of waste products containing amines can be challenging due to their potential to contaminate soil and water. Therefore, regulations may require industries to implement effective waste management practices such as recycling, treatment, and safe disposal. Furthermore, workers involved in the production and handling of amines face potential health risks. To mitigate exposure to hazardous chemicals, regulatory compliance demands the implementation of proper safety measures, provision of protective equipment, and training. In some cases, regulatory agencies also encourage the development and adoption of alternative chemicals or processes that are less harmful to human health and the environment. Such initiatives challenge the status quo of amine usage, promoting a safer and more sustainable approach.
Fluctuating Price of Raw Materials
The amines industry relies heavily on raw materials such as ammonia, ethanol, and fatty acids for production. The prices of these raw materials are influenced by various factors, including geopolitical tensions, supply-demand dynamics, currency fluctuations, and global market trends. The volatility in raw material prices presents significant challenges to the stability and profitability of the amines market. Sudden spikes or drops in raw material prices can disrupt supply chains, impacting production schedules and potentially causing delays in delivering finished products. The unpredictable nature of raw material prices complicates long-term investment planning, as companies may hesitate to invest in expansion or research and development initiatives due to uncertain future costs. Additionally, fluctuations in raw material prices can pose difficulties in determining optimal product pricing. Manufacturers must strike a balance between cost considerations and market competitiveness.
Key Market Trends
Growth in Technological Advancements
The amines industry is undergoing a significant transformation driven by cutting-edge technologies, as the demand for efficient, sustainable, and innovative solutions continues to grow. The utilization of biotechnology and fermentation processes for amines production is gaining momentum. Biocatalysis, which employs enzymes or whole cells to catalyze chemical reactions, offers sustainable and selective pathways for synthesizing complex amines. This approach reduces reliance on petrochemical feedstocks, minimizes waste generation, and provides access to a wider range of chiral and structurally diverse amines. Furthermore, the energy-intensive processes of separation and purification of amines from reaction mixtures are being addressed through technological advancements in separation techniques, including membrane-based separation, adsorption, and crystallization. These explorations aim to minimize energy consumption and enhance the overall efficiency of amines recovery. Ultimately, these innovations contribute to the sustainability of the amines industry by reducing resource consumption and emissions.
Segmental Insights
Product
In 2022, the Amines market was dominated by the Ethanol Amines and is predicted to continue expanding over the coming years. Ethanolamine is predominantly utilized as a cleaning agent, in the form of monoethanolamine and triethanolamine. It also serves as a corrosion inhibitor in lubricants, machining fluids, and cooling systems for industrial, automotive, and marine applications. The increasing awareness regarding health and the growing preference for preventive maintenance are expected to drive the demand for ethanolamine as cleaning agents and corrosion inhibitors. Following ethanolamine, fatty amines, derived from fats, natural sources, oils, or petrochemical feedstocks, represent the second-largest segment.
Application Insights
In 2022, the Amines market was dominated by water treatment segment and is predicted to continue expanding over the coming years. Amines are commonly employed in industrial water treatment facilities, including boilers and cooling towers. The primary objective of industrial water treatment is to address concerns related to corrosion, scaling, microbiological activity, and wastewater disposal. These products are increasingly gaining traction in the water treatment industry due to their remarkable efficacy in eradicating bacteria from water. The growing adoption of these substances in pool water treatment and industrial water discharge, owing to their exceptional germicidal properties, is anticipated to drive market growth.
Regional Insights
The Asia Pacific region has established itself as the leader in the Global Amines Market.
Recent Developments
- In 2021, BASF announced an expansion of their production capacity forkey specialty amines. This strategic move allows BASF to meet the growingdemand for their LupragenTM and Baxxodur® branded tertiary amines andpolyetheramines. These additions will strengthen their existing global networkof specialty amines production facilities located in North America,Ludwigshafen (Germany), and Nanjing (China).
- In 2020, Huntsman Corporation, a US-based chemical manufacturing andmarketing company, acquired Gabriel Performance Products for a significant sumof $250 million. This strategic acquisition is expected to expand Huntsman'sspecialty products portfolio, particularly in the areas of curing andtoughening agents, as well as other additives used in a diverse range ofapplications such as coatings, composites, and adhesives.
- In December 2019, GAC, a joint venture between Clariant and Asia'slargest international company, announced its investment in the construction ofa third tertiary amines factory. This new facility in Indonesia will enhancethe joint venture's capacity to support the regional and global home care andpersonal care industries, thereby providing increased flexibility andreliability.
- In April 2019, BASF unveiled plans to expand its manufacturing capacityfor Alkylethanolamines (AEOA) by 20% at its facility in Germany. Following thestart-up in 2020, BASF's global annual nameplate capacity for AEOA at itsproduction sites in Ludwigshafen, Germany, and other locations will exceed110,000 metric tonnes per year. This expansion aims to meet the growing demandfor AEOA and strengthen BASF's market position.
Key Market Players
- Arkema S.A.
- Akzo Nobel N.V.
- BASF SE
- SABIC
- The Dow Chemical Company
- Huntsman Corporation
- Mitsubishi Gas ChemicalCompany
- Taminco Corporation
- Celanese Corporation
- Solvay S.A.
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