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Amines Market Overview
Amines Market is projected to grow at a CAGR of 7.8% during
COVID-19 Impact
During the COVID-19 Pandemic, many
markets and industries experienced a decline in their business. This is
primarily due to the lockdown protocols mandated by the various governments
globally. The supply chain was heavily disrupted and production facilities were
non-functional. Many End-Use Industries of Amines, such as the Paints and
Coatings, the Personal Care and Cosmetic, Textile, and so on, were at a loss
during the COVID-19 Pandemic. According to the International Trade Centre (ITC), the Textile
and Apparel Sector saw an 11% drop in Consumer demand in 2020 globally while the
Italian Textile Machinery Manufacturers Association reported that there was a 44%
decrease in sales of Textile machinery overseas. A similar
trend followed for the other Industries as well. However, the pharmaceutical
industry saw an increase in demand during the Pandemic. According to the European Federation
of Pharmaceutical Industries and Associations (EFPIA), the Pharmaceutical
Industry in North America saw a growth of 3.3% in 2020 while Europe saw a
growth of 3.9%. Amines are one of the essential feedstock’s
for Pharmaceuticals, so even though there was a decline in the other end-use
Industries for Amines, the demand for Amines increased on the side of
Pharmaceuticals. The Pandemic proved to be a turbulent time for the Amines
market however, the situation is improving globally, and many countries are now
relieving lockdown protocols. As a result, the Amines Market is forecasted to
witness increased growth in
Report Coverage
The report: “Amines
Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis
of the following segments of the Amines Market.
By Type: Ethanolamines (Monoethanolamines, Diethanolamines, Triethanolamines,
Others), Alkylamines (Methyl Amines, Ethyl Amines, Propyl Amines, Others),
Fatty Amines, Specialty Amines (Polyamines, Asymmetrical Secondary Amines,
Alkylalcoholamines, Others), Ethyleneamines (Ethylenediamine,
Diethylenetriamine, Tetraethylenepentamine, Piperazine, Others), Aromatic Amines,
Others.
By Function: Solvents, Corrosion Inhibitors, Catalysts, Surfactants,
Others.
By Application: Water Treatment, Gas Treatment, Cleaning Products, Adhesives,
Paints, Polymers and Resins, Agrochemicals, Petrochemical, Cosmetics, Rubber, Others.
By End-Use Industry: Agriculture Industry, Paints & Coatings, Pharmaceutical
Industry, Oil & Gas Industry, Textile Industry, Automotive Industry, Personal
Care and Cosmetics, Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany,
France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe),
Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand,
Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil,
Argentina, Colombia, Chile, and Rest of South America), Rest of the World
(Middle East, and Africa)..
Key Takeaways
- The Asia-Pacific region holds the largest share in the amines market primarily due to the growth and dominance of the Agriculture and Personal Care Industry.
- Ethanolamines are a versatile form of amines that possesses the properties of both primary alcohol and a primary amine.
- Amines are primarily used as solvents for fats and oils and are used in conjunction with fatty acids to form emulsions.
- The increase in demand and the growth of the Pharmaceutical Industry proves to be a driver for the Amines Market.
Figure: Asia-Pacific Amines Market
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Amines Market Segment Analysis – By Type
Ethanolamines hold the largest share of 38% in the type
segmentation in 2021. Ethanolamines are amines that form a bond with ethanol.
It is unique in characteristics such that it possesses properties of both primary alcohol and a primary amine. Some common sub-segments of ethanolamines are
triethanolamines and diethanolamines. Ethanolamines are used as raw materials
for a variety of products such as detergents, pharmaceuticals, agrochemicals,
and chemical intermediates. It is also commonly used as a solvent, corrosion
inhibitor, and surfactant. Its diverse nature also makes it useful in regulating
pH in cosmetics. Other common types of Amines are alkylamines also known as
aliphatic amines, these amines commonly substitute one of the hydrogen atoms
with an alkyl group. Some examples are methylamine, ethylamine, and propylamine,
where they replace one, two, and three hydrogen atoms from ammonia respectively.
There are also fatty amines, where the amine is connected to a hydrocarbon
chain, aromatic amines, where the amine is connected to one or more aryl
groups, and specialty amines.
Amines Market Segment Analysis – By Function
Solvents hold the largest share of 35% in the function
segment in 2021. Amines exhibit excellent solvent properties due to which they
are extensively used as a solvent for fats and oils. Amines are used as
solvents in combination with fatty acids, to form various types of emulsions
such as lotions and creams. Their solvent functionality is also used in the
manufacture of a variety of chemicals like agrochemicals and pharmacological
drugs as well as emulsions. This is because Amines form excellent intermediates
concerning those chemicals. Amine solvents are also considered to be the
most developed form of carbon dioxide capture which helps reduce greenhouse
gases in the environment. Due to this reason, Solvents holds the largest share
in this segmentation. Amines are also commonly used as catalysts in various
processes and are used as corrosion inhibitors and surfactants.
Amines Market Segment Analysis – By Application
Agrochemicals application holds the largest share of 30% in
the Application segment in 2021. Amines serve as an essential feedstock for
chemicals used in the Agriculture Industry. They are primarily used for crop
protection in chemicals like pesticides, herbicides, insecticides, and so on.
Other than crop protection, they are also used in fertilizers, emulsifiers, and
other chemical processes. There is always growing demand for high-quality crops
and produce which is why amines prove to be essential in maintaining the
quality of products in the agriculture business. According to the Ministry of Chemicals and
Fertilizers, India’s estimated production of Fertilizers for the year 2020-2021
is 47.8 million metric tons, which is an increase of 12.4% in comparison to the
previous year. Other applications of amines
include water treatment, gas treatment, polymers and resins, petrochemicals, and
so on.
Amines Market Segment Analysis – By End-Use Industry
Agriculture Industry holds the largest share of 41% in the
End-Use Industry segment in 2021. As mentioned above, agrochemicals see the
most use of amines as it is used for a variety of applications like pesticides,
fertilizers, emulsifiers, and chemical processes. According to the Food and Agriculture
Organization of the United Nations, the global agriculture market is recorded
to have a seventh consecutive monthly increase in December 2020 of 2.3% from
November and 3.1% year-on-year. The Pharmaceutical Industry is one
of the fastest-growing industries when it comes to the demand for amines. This is
because amines are used for a variety of uses such as the production of drugs
as well as solutions and emulsions. Some popular drugs that are amine-based are
amphetamine, tramadol, atenolol, norepinephrine, and so on. Other End-Use
Industries include the paints & coatings industry, oil & gas industry, automotive
industry, textile industry, personal care & cosmetics industry, and more.
Amines Market Segment Analysis – By Geography
Asia-Pacific region holds the largest share of 47% in the Amines Market in 2021. This is because of the growth of key industries in the Asia-Pacific region like the agriculture industry as well as the personal care and cosmetics industry. This is especially true for China and India where the quality of life and their disposable income has increased substantially. According to India Brand Equity Foundation (IBEF), the total food grain production in the country was estimated to be 296.65 million tons in the Fiscal Year 2020, which is an increase of 3.9% from FY 2019. According to the United States Department of Agriculture, China is the world’s largest agricultural importer in 2019 with imports valued at USD $133.1 billion. According to the International Trade Administration, the Personal Care and Cosmetics Market of China is valued at USD $42.8 billion in 2020 and is estimated to become the largest market within the next five years. Due to the growth and dominance of these markets in the Asia-Pacific region, the Amines Market is most prominent in Asia-Pacific as well.
Amines Market Drivers
The increase in quality and growth of
the Pharmaceutical Industry:
There is an exponential growth in the
Pharmaceutical Industry and there has never been a greater demand for medicine
than now during the COVID-19 Pandemic. Amines are at the forefront when it
comes to the development of drugs and the increase in demand for the Pharmaceutical
Industry greatly boosts the need for Amines in the Pharmaceutical Market. According
to the European Federation of Pharmaceutical Industries and Associations
(EFPIA), the United States of America (USA) invested USD $64,357 million in
Research and Development (R&D) in the Pharmaceutical Industry in 2019 while
Europe spent an estimated EUR 39,000 million (USD $ 45,380
million) in R&D in 2020. This is one of the primary drivers for the Amines Market.
Amines Market Challenges
Harmful Effects of Amines and Amine-based Chemicals on health:
While various amines such as biogenic amines are helpful for the human body and prove to be essential,
there are a variety of amines too that are hazardous to the humans. Some
examples of these amines are triethylamine and N, N-dimethylethylamine, which
are primarily used in epoxy, foundry, and polyurethane foam industries. These
amines are known to cause glaucopsia, a disease that causes blurring of vision.
Another toxic form of amines is Allyl Amines, which are used in vulcanizing
rubber, in the synthesis of ion-exchange resins, and as an intermediate in
pharmaceutical synthesis. Allyl Amines are known to cause liver and kidney
damage and repeated exposure can sometimes adversely affect the nervous system
as well. As such, these factors prove to be a challenge for the Amines Market.
Amines Industry Outlook
Technology launches, acquisitions, and R&D activities are
key strategies adopted by players in this market. Amines top 10 companies include:
- BASF SE
- Arkema S.A.
- Akzo Nobel N.V.
- Dow Chemical Company
- Mitsubishi Gas Chemical Company, Inc.
- Huntsman Corporation
- Solvay Group
- Tosoh Corporation
- Nouryon
- Saudi Basic Industries Corporation (SABIC)
Recent Developments
On 11 October 2021, Arkema S.A. announced that they will be increasing their Rilsan polyamide 11 powders production capacity by setting a new production plant in Changshu platform, China. It is scheduled to commence in the first quarter of 2023.
On 10 June 2020, BASF SE and ExxonMobil Catalysts and Licensing LLC announced the launch of an energy-efficient amine gas treatment called OASE sulfexx. This revolutionary amine-based solvent is designed to remove hydrogen sulfide while minimizing the absorption of carbon dioxide from gas streams.
On 3 May 2019, Arkema S.A. announced that they will set up a new world-scale plant for the manufacture and production of the amino 11 monomers and of Rilsan polyamide 11 resins in Jurong Island, Singapore. The plant will be completed by end of 2022.