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BEIJING, March 15, 2023 (GLOBE NEWSWIRE) — The Global Amines Market Size accounted for USD 16.2 Billion in 2022 and is estimated to achieve a market size of USD 24.1 Billion by 2032 growing at a CAGR of 4.2% from 2023 to 2032.
Amines Market Research Report Highlights and Statistics:
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Amines Market Report Coverage:
|Amines Market Size 2022||USD 16.2 Billion|
|Amines Market Forecast 2032||USD 24.1 Billion|
|Amines Market CAGR During 2023 – 2032||4.2%|
|Amines Market Analysis Period||2018 – 2032|
|Amines Market Base Year||2022|
|Amines Market Forecast Data||2023 – 2032|
|Segments Covered||By Type, By Application, And By Geography|
|Amines Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||The Dow Chemical Company, Arkema S.A., Lyondell Basell Industries Holdings B.V., Akzo Nobel N.V., INEOS Group, SABIC, BASF SE, Huntsman Corporation, Celanese Corporation, Taminco Corporation, Solvay S.A., Mitsubishi Gas Chemical Company, and Lanxess Corporation.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Amines Market Overview:
The Amines Market is a rapidly growing industry that provides a wide range of applications across various sectors. Amines are organic compounds that contain nitrogen and are widely used in agriculture, pharmaceuticals, cleaning products, and water treatment, among other industries.
One of the unique applications of amines is in the production of herbicides, insecticides, and fungicides for the agricultural sector. These compounds are highly effective in controlling pests and diseases, improving crop yields, and ensuring food security.
Amines also play a vital role in the pharmaceutical industry, where they are used as building blocks for the synthesis of various drugs, such as anti-cancer, anti-inflammatory, and antiviral medications. Additionally, amines are used in the production of local anesthetics and antidepressants.
The cleaning products industry also heavily relies on amines, as they are essential ingredients in laundry detergents, fabric softeners, and other household cleaning products. Amines act as surfactants, which help to reduce the surface tension of water, making it easier to remove dirt and stains from fabrics and surfaces.
Amines are also used in water treatment, where they act as chelating agents, removing heavy metals and other contaminants from wastewater. They are also used in the production of resins, coatings, and plastics, adding flexibility, durability, and corrosion resistance to these materials.
Trends in the Amines Market:
Amines Market Dynamics:
Growth Hampering Factors in the Market for Amines:
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Amines Market Overview by Region:
The Asia-Pacific region’s Amines Market share is the largest and fastest growing and is driven by a growing population, increasing urbanization, and rising demand from various end-use industries. The region has seen a rise in demand for specialty amines, such as fluorinated amines, which offer unique properties for use in a range of applications, including electronics and pharmaceuticals. For example, China National Bluestar (Group) Co. Ltd, a leading player in the region, recently launched a new product line of fluorinated amines that offer improved properties for use in various industrial applications.
North America’s Amines market share is also huge, the Amines Market is expected to experience significant growth due to the presence of various end-use industries, such as agriculture, pharmaceuticals, and cleaning products. The region is home to many major players in the industry, which have invested in research and development to produce innovative amines with improved properties. For example, Huntsman Corporation, a major player in the region, recently developed a new amines product line that offers enhanced properties for use in a range of applications, including gas treatment and solvents.
Europe is another key market for Amines, driven by the presence of large chemical manufacturing industries, as well as a focus on sustainability and environmental regulations. The region has seen a rise in demand for bio-based amines, which offer a more sustainable alternative to traditional petroleum-based amines. For example, Evonik Industries, a leading German specialty chemicals company, has developed a range of bio-based amines that are produced from renewable raw materials, offering a more sustainable and eco-friendly solution.
The South American and MEA regions have a smaller Amines market share, however it is expected to grow at a steady pace, driven by the presence of various end-use industries, such as agriculture, mining, and oil and gas. The region has seen a rise in demand for amines used in mining activities, where they are used to extract metals from ores and wastewater. For example, Oxiteno, a Brazilian chemicals company, has developed a range of specialty amines for use in mining activities, offering improved efficiency and environmental performance.
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Amines Market Key Players:
The Amines Market has a large number of players operating in various regions around the world. Some of the major players in the industry include BASF SE, Huntsman Corporation, Dow Chemical Company, AkzoNobel N.V., Solvay SA, Clariant AG, Mitsubishi Gas Chemical Company, Inc., Evonik Industries AG, Arkema Group, Tosoh Corporation, Celanese Corporation, Eastman Chemical Company, Kao Corporation, Alkyl Amines Chemicals Limited, Air Products and Chemicals, Inc., Taminco Corporation, Chemours Company, Ashland Inc., Daicel Corporation, and INEOS Group AG.
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