Pais, Nov. 25, 2022 (GLOBE NEWSWIRE) -- The Alkyl Amines Market revenues were estimated at US$ 6.6 Bn in 2022 and is anticipated to grow at a CAGR of 5.3% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach a valuation of US$ 12 Bn. During 2022 – 2032, the market is likely to garner an absolute dollar opportunity of US$ 5.4 Bn.
One of the key factors boosting the alkyl amines demand is the extensive use of Alkyl Amines as a solvent throughout numerous industries such as the paints and coatings industry, rubber manufacturing, pharmaceutical, agrochemicals, and water purification. In the future, feed additives and paper chemicals applications will further add to this requirement.
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From 2021 to 2027, the water treatment sector is anticipated to account for a significant proportion of the alkylamines market. Due to their remarkable cleaning capabilities, these materials are widely used in water treatment chemicals. The depletion of water resources and the growing demand for safe drinking water are leading to increased investments in water treatment facilities.
Key Takeaways from the Market Study
- Global Alkyl Amines Market are estimated to reach a market size of US$ 6.6 Bn by 2022.
- Methylamines are expected to account for the highest CAGR of 5% during the forecast period.
- United States is likely to remain the dominant market with an absolute dollar opportunity of US$ 1.9 Bn during 2022 – 2032.
- The market in China is set to experience the highest CAGR of 5.6% during the 2022-2032 forecast periods.
Competitive Analysis
The alkyl amines industry is diversified and competitive due to a large number of industry participants. As a result, pricing wars, mergers and, acquisitions, and other strategic decisions are common. For new entrants, there exist significant entry barriers. Low switching costs give purchasers more options and boost competitiveness among business operators. Key industry participants invest in bettering their products in order to acquire a competitive advantage over their peers.
Some of the key companies in the alkyl amines market include E.I. Du Pont DE Nemours, BASF SE, Akzo Nobel Chemicals AB, Arkema Group, Shandong Huala Hengsheng Chemical Co., Feicheng Acid Chemicals Co., Ltd., Air Products and Chemicals Inc., Huntsman International LLC, Dow Amines, Mitsubishi Gas Chemical Company, LCY Chemical Corp., Luxi Chemical Co., Ltd., Koei Chemical Company Limited, Taminco, Eastman Chemical Co., Daicel Chemical Industries Ltd., BorsodChem MCHZ and Alkyl Amines Chemicals Ltd.
Some of recent developments in the Alkyl Amines Market are:
- BASF recently announced that at the Verbund location in Antwerp, Belgium, it is constructing a new world-scale manufacturing plant for alkylethanolamines. The business plans to boost worldwide annual production of its alkylethanolamines portfolio, which includes dimethylethanolamines and methyldiethanolamines, by about 30% to more than 140,000 metric tonnes per year after the anticipated start-up in 2024. BASF offers a dependable and long-term supply of alkylethanolamines by a high degree of domestic backward integration.
The alkylethanolamines are mostly utilized as flocculant precursors in water treatment and as adhesives between pigment and resins in the coatings industry. Other uses include gas remediation, fabric softeners, metalworking fluid additives, and polyurethanes.
- Recently, Huntsman Corporation announced that its Performance Products business would expand its manufacturing plant in Petfurdo, Hungary, to accommodate growing demands for polyurethane catalysts including specialty amines. In recent years, Huntsman has observed an increase in demand for their JEFFCAT amine catalysts.
These specialty amines are utilized in the production of daily things such as foam for automotive seats, beds, and building insulation spray foam. Huntsman's current generation revolutionary product range aids industry efforts to reduce consumer product emissions and smells while also contributing to global environmental goals.
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Market Segments Covered in Alkyl Amines Market Analysis
- By Product type:
- Alkylamines
- Ethylamines
- Propylamines
- Butylamines
- Cyclohexylamines
- By Application:
- Solvent
- Rubber
- Agrochemical
- Paper Chemicals
- Fuel Additives
- Pharmaceuticals
- Other Applications
- By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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Global Alkyl Amines Market Analysis and Forecast by Region
- North America Alkyl Amines Market Size and Forecast, 2022-2032
- Germany Alkyl Amines Market Size and Forecast, 2022-2032
- UK Alkyl Amines Market Size and Forecast, 2022-2032
- France Alkyl Amines Market Size and Forecast, 2022-2032
- Spain Alkyl Amines Market Size and Forecast, 2022-2032
- Japan Alkyl Amines Market Size and Forecast, 2022-2032
- China Alkyl Amines Market Size and Forecast, 2022-2032
- Malaysia Alkyl Amines Market Size and Forecast, 2022-2032
- Thailand Alkyl Amines Market Size and Forecast, 2022-2032
- Australia Alkyl Amines Market Size and Forecast, 2022-2032
Key Questions Covered in the Alkyl Amines Market Report
- What will be the estimated size of the Alkyl Amines Market in 2022?
- At what rate will sales in the global Alkyl Amines Market grow until 2032?
- Which are the factors hampering the demand in the artificial sweetener market?
- Which region will spearhead the growth in the global Alkyl Amines Market during 2022-2032?
- Which are the factors driving sales in the Alkyl Amines Market during the forecast period?
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Global Alkyl Amines Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Global Alkyl Amines Market by Product Type (Alkylamines, Ethylamines, Propylamines, Butylamines, and Cyclohexylamines), by Application (Solvent, Rubber, Agrochemical, Paper Chemicals, Fuel Additives, Pharmaceuticals, and Other Applications), across five regions (North America, Asia Pacific)
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