In a recent published report, Kenneth Research has updated the market report for Amines Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Amines Market products.
The Amines Market is predicted to grow as a result of the significant rise in demand for different types of advanced specialty chemicals, along with the increasing need amongst end-user industries for chemicals that promote environmental sustainability and reduced emissions, backed by the rising concern for environmental pollution. According to the statistics by the United States Environmental Protection Agency (EPA), the industrial sector in the U.S. contributed to 22% of the total U.S. greenhouse gas emissions in the year 2018. On the other hand, rising demand for the volumetric production of chemicals, owing to the need for chemicals for manufacturing end-use products by the end-user industries, are also anticipated to drive the growth of the Amines Market during the forecast period. Additionally, growing sales of chemicals worldwide, which grew by nearly three times over the last twenty years and touched nearly USD 4 billion in the year 2018, along with the growing innovation and research for the development of advanced chemicals are some of the additional factors anticipated to drive the market growth in the coming years.
The global Amines Market size is anticipated to reach over USD 33.3 billion by 2026, according to a new study published by Polaris Market Research. In 2017, the personal care segment dominated the global amines industry, in terms of revenue. Asia-Pacific was the leading contributor to the global market revenue in 2017.The use of amines in wide applications such as personal care, crop protection chemicals, paints and coatings, surfactants, and beauty products majorly drives the growth of the market. Growing awareness regarding personal care and increasing disposable income, especially in developing regions, is boosting the overall amines industry growth.
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Increasing demand of amines from pharmaceutical, and construction sectors among others augment the growth of amines industry. Technological advancements and increasing applications in healthcare, pharmaceuticals and water treatment sectors would provide growth opportunities to the amines industry during the forecast period. New emerging markets, emerging consumer demographics, and technological advancements would accelerate the growth of this market in the coming years.
The personal care segment is expected to lead the market during the forecast period owing to wide applications in the industry. Amines are used in various personal care products, such as soaps, shaving creams, hand lotions, body washes, shampoos, laundry detergents, cosmetics, cosmetic creams, fragrances, and hair dyes, among others. Increasing disposable income and rising awareness regarding personal hygiene boosts the growth of this segment. Growing demand from emerging economies, and growth of e-commerce platforms are factors expected to provide numerous growth opportunities in the coming years.
Asia-pacific is expected to lead the global amines industry during the forecast period. A significant rise in the population has been registered over the past few years, boosting the growth of the amines industry. Increasing awareness regarding personal care and hygiene, and rising disposable incomes in developing countries of this region augments the market growth in the region. Increasing application of amines in healthcare and pharmaceutical also supports amines market growth in this region. Use of amines in agriculture, construction, and water treatment further increases the demand of amines in Asia-Pacific. Leading global players are expanding their presence in developing nations of China, Japan, India, Indonesia, and Malaysia to tap the growth opportunities offered by these countries
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The well-known companies profiled in the amines market report include Clariant International Ltd., Mitsubishi Gas Chemical Company, Inc., Solvay S.A., DowDuPont, BASF SE, Air Products and Chemicals Inc., Arkema S.A., Huntsman Corporation, Sinopec Corporation, and Akzo Nobel N.V. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Polaris Market Research has segmented the global amines market on the basis of type, application, and region:
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Amines Type Outlook (Revenue, USD Billion, 2015 – 2026)
Ethyleneamines
Fatty Amines
Ethanolamines
Specialty Amines
Alkylamines
Others
Amines Application Outlook (Revenue, USD Million, 2015 – 2026)
Personal Care
Oil and Petroleum
Pharmaceutical
Agricultural Chemicals
Cleaning Products
Water Treatment
Others
Amines Regional Outlook (Revenue, USD Million, 2015 – 2026)
North America
U. S.
Canada
Europe
U. K.
Germany
France
Spain
Italy
Russia
Rest of Europe
Asia Pacific
India
China
Japan
Korea
Australia
Singapore
Rest of Asia Pacific
Latin America
Brazil
Mexico
Argentina
Rest of Latin America
Middle East & Africa
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