The amines market was valued at $21.4 billion in 2023, and is projected to reach $35.7 billion by 2030, growing at a CAGR of 7.7% from 2024 to 2030.
Amine is a nitrogen-containing organic compound that is a derivative of ammonia. Amines serve as catalysts and solvents in industrial processes, highlighting their significance in chemistry's practical and theoretical aspects. They are applicable in a wide range of sectors such as agriculture, pharmaceuticals, and manufacturing of dyes.
The growth the global amines market is majorly driven by expansion of the pharmaceuticals sector, as they are frequently used in morphine and Demerol, which are popular pain killers. Moreover, novocaine is one drug used as an anesthetic, which is hugely dependent on amines. Furthermore, amines are significantly used in the manufacturing of pesticides and herbicides. With exponentially growing the population, the need for high agricultural yield increases, which eventually propels the demand for pesticides and herbicides, thereby boosting the growth of the amines market. The development of the healthcare industry significantly contributes toward the growth of the amines market. This is majorly attributed to the fact that biogenic amines play an essential role in cell membrane stabilization, immune functions, and prevention of chronic diseases, as they participate in the nucleic acid and protein synthesis. However, availability of bio-based alternatives acts as a key restraint of the market. On the contrary, growing trend toward producing amines from renewable resources is expected to offer remunerative opportunities for the expansion of the market. Thus, companies are exploring bio-based routes to create amines that are more environmentally friendly. Furthermore, they are taking efforts to develop synthesis methods that reduce the environmental impact, such as using less toxic reagents and solvents, and improving energy efficiency. In addition, surge in demand for specialty amines used in applications such as water treatment, coatings, and surfactants is expected to open new avenues for the market growth. Moreover, implementation of stringent government regulations focusing on minimizing the health risks associated with amine exposure has led to adoption of safer handling practices and formulations, which is likely to offer remunerative opportunities for the market growth.
The amines market is segmented into type, application, and region. By type, the market is classified into primary amines, secondary amines, and tertiary amines. On the basis of application, it is segregated into agriculture, cleaning, gas treatment, personal care, petroleum, water treatment, pharmaceuticals, paints & coatings, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of application, the pharmaceutical segment is anticipated to exhibit the highest growth during the forecast period.
Amine is a nitrogen-containing organic compound that is a derivative of ammonia. Amines serve as catalysts and solvents in industrial processes, highlighting their significance in chemistry's practical and theoretical aspects. They are applicable in a wide range of sectors such as agriculture, pharmaceuticals, and manufacturing of dyes.
The growth the global amines market is majorly driven by expansion of the pharmaceuticals sector, as they are frequently used in morphine and Demerol, which are popular pain killers. Moreover, novocaine is one drug used as an anesthetic, which is hugely dependent on amines. Furthermore, amines are significantly used in the manufacturing of pesticides and herbicides. With exponentially growing the population, the need for high agricultural yield increases, which eventually propels the demand for pesticides and herbicides, thereby boosting the growth of the amines market. The development of the healthcare industry significantly contributes toward the growth of the amines market. This is majorly attributed to the fact that biogenic amines play an essential role in cell membrane stabilization, immune functions, and prevention of chronic diseases, as they participate in the nucleic acid and protein synthesis. However, availability of bio-based alternatives acts as a key restraint of the market. On the contrary, growing trend toward producing amines from renewable resources is expected to offer remunerative opportunities for the expansion of the market. Thus, companies are exploring bio-based routes to create amines that are more environmentally friendly. Furthermore, they are taking efforts to develop synthesis methods that reduce the environmental impact, such as using less toxic reagents and solvents, and improving energy efficiency. In addition, surge in demand for specialty amines used in applications such as water treatment, coatings, and surfactants is expected to open new avenues for the market growth. Moreover, implementation of stringent government regulations focusing on minimizing the health risks associated with amine exposure has led to adoption of safer handling practices and formulations, which is likely to offer remunerative opportunities for the market growth.
The amines market is segmented into type, application, and region. By type, the market is classified into primary amines, secondary amines, and tertiary amines. On the basis of application, it is segregated into agriculture, cleaning, gas treatment, personal care, petroleum, water treatment, pharmaceuticals, paints & coatings, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
Depending on type, the primary amines segment is expected to dominate the market by 2030.On the basis of application, the pharmaceutical segment is anticipated to exhibit the highest growth during the forecast period.
Region wise, amines are projected to gain high prominence in Asia-Pacific in the coming years
Competition Analysis
Competitive analysis and profiles of the major players in the global amines market include Evonik Industries AG, BASF SE, Solvay S.A., Akzo Nobel N.V., Dow Inc., Shell Plc., Eastman Chemical Company, Huntsman Corporation, Arkema, and Balaji Amines Ltd. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.Additional benefits you will get with this purchase are:
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Key Market Segments
By Type
- Primary Amines
- Secondary Amines
- Tertiary Amines
By Application
- Agriculture
- Cleaning
- Gas Treatement
- Personal Care
- Petroleum
- Waste Treatment
- Pharmaceuticals
- Paints and Coatings
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- Evonik Industries AG
- BASF SE
- Solvay S.A.
- Akzo Nobel N.V.
- Dow Inc.
- Shell Plc.
- Eastman Chemical Company
- Huntsman Corporation
- Arkema
- Balaji Amines Ltd
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: AMINES MARKET, BY TYPE
CHAPTER 5: AMINES MARKET, BY APPLICATION
CHAPTER 6: AMINES MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- Evonik Industries AG
- BASF SE
- Solvay S.A.
- Akzo Nobel N.V.
- Dow Inc.
- Shell Plc.
- Eastman Chemical Company
- Huntsman Corporation
- Arkema
- Balaji Amines Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 340 |
| Published | June 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 21.4 billion |
| Forecasted Market Value ( USD | $ 35.7 billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
