Global Amines Market – Forecast and Opportunity Assessment by Technavio

LONDON–(BUSINESS WIRE)–#Research–According to the latest market study released by Technavio,
the global
amines market is growing at a CAGR of more than 5% during the
forecast period.

This research report titled ‘Global
Amines Market 2017-2021’ provides an in-depth analysis of the
market in terms of revenue and emerging market trends. This market
research report also includes up to date analysis and forecasts for
various market segments and all geographical regions.

Amines are used in pesticides, cleaning products, personal care
products, rubber, water treatment chemicals, lubricants, paints and
coatings, and pharmaceuticals. They are also used in neutralizing
agents, cleaning agents, stabilizers, and formulators. An increasing
expenditure on healthcare products will drive the market as well. China
and India are the biggest consumers of amines owing to the growing
chemical industry and the agriculture sector. The developing countries
of APAC, Africa, and South America are likely to witness an increasing
demand owing to the high demand for lower value commodity surfactants.

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Technavio’s chemicals
and materials research analysts categorize the global
amines market into the following segments by type. They are:

• Ethanolamines
• Alkylamines
• Fatty amines
• Others

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The top three type segments for the global amines market are discussed
below:

Ethanolamines

Commercially, ethanolamines are produced by reacting amine (either
monoethanolamine (MEA), ammonia, or diethanolamine (DEA) with ethylene
oxide (EO). Ethanolamines are primarily used in applications such as
cleaning products, personal care products, textiles, gas treatment, wood
preservatives, metal cleaning, and herbicides. Cleaning products,
chemical intermediates, and herbicides collectively accounted for the
maximum share of this segment.

According to Ajay Adhikari, a lead specialty
chemicals research analyst from Technavio, “The growing
demand from newer and niche applications such as corrosion inhibitors
for metal protection, wood preservation, glyphosate herbicides, and
construction chemicals in the US and China are likely to be the major
factors influencing the demand for ethanolamines. The considerable
prospective demand from natural gas processing will also encourage the
demand.”

Alkylamines

Alkylamines are primarily used in applications such as solvents,
agrochemicals, rubber processing, water treatment, feed additives, paper
chemicals, and pharmaceuticals. APAC and South America are the prominent
markets for alkylamines. Methylamines display exclusive insulin-like
properties and thus, are used in the medical application.

“Alkylamines release insulin under both in-vitro or in-vivo
conditions. This exclusive property is utilized to develop better
anti-diabetic drugs than mafenide. This application is likely to boost
the growth of the global amines market. China is amongst the largest and
fastest-growing manufacturing hubs of alkylamines,” adds Ajay.

Fatty amines

Fatty amines are primarily derived from petrochemicals, fats, and oils.
Owing to their cationic nature, they are used in various applications
such as lubricant additives, corrosion inhibition, oilfield chemicals,
sanitization, paints and coatings, cleaning products, water treatment,
personal care, mining, anti-caking, and agrochemicals. They are most
commonly used in cleaning products such as fabric softeners, laundry
detergents, shampoos, and conditioners.

Fatty amines and their derivatives are undergoing technological
development. For instance, one of the derivatives of fatty amines,
N-methyl amine, is used in dyes production, surfactants, medicines, and
pesticides.

The top vendors highlighted by Technavio’s research analysts in this
report are:

• Akzo Nobel
• BASF
• Eastman Chemical Company
• Huntsman International
• The Dow Chemical Company

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