Global Amines Market Size By Type (Ethanolamine, Alkylamine, Ethylene Amine, Fatty Amine and Specialty Amine), By Application (Water Treatment, Cleaning, Agriculture, Personal Care, Paint & Coatings, Pharmaceuticals, Petroleum, Gas Treatment, Others), By Function (Solvent, Chelating Agent, Corrosion Inhibitor, Bleach Activators, Surfactants, Others) Industry Analysis Report, Country Outlook Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
The global amines market is expected to record appreciable gains through the ensuing years. The growth can be mainly credited to the massive application scope of amines that spans agriculture, personal care, water treatment, cleaning, gas treatment, petroleum, paints, and coatings, and more. Amine is essentially any member of nitrogen-containing organic compound family and is derived from ammonia. While amines occur in nature, as products of protein material putrefaction, they are also present in living tissue and can be produced synthetically.
Increasing trend of industrialization and expanding manufacturing sector will have a positive impact on the demand for amines. This is because amines and their salts are extensively used as antioxidants for rubber and roofing asphalt (diarylamines), as protectants to avoid damage from gamma radiation, and as corrosion inhibitors in boilers as well as in lubricating oils (morpholine). Amines also find deployment as developers in photography (aromatic diamines), as fabric softeners, as stabilizers for cellulose nitrate explosives (diphenylamine), as anticling and waterproofing agents for textiles, in paper coating, for solubilizing herbicides, as flotation agents in mining, and many more.
With respect to the type spectrum, the global amines market is categorized into alkylamine, fatty amine, ethanolamine, ethylene amine, and specialty amine. Of these, the ethylene amine segment is anticipated to register USD 1.8 billion by 2026.
On the other hand, specialty amine segment may exhibit 8.5% CAGR over the forecast period
Pertaining to the function landscape, the global amines industry is sub-divided into chelating agents, surfactants, bleach activators, solvents, corrosion inhibitors, and others.
Of these, global amines market size from chelating agent segment may depict 7.5% CAGR through the assessment period. The others segment is anticipated to cross USD 866.98 million by 2026.
With respect to the application terrain, the global amines market is segmented into cleaning, paints & coatings, water treatment, petroleum, agriculture, pharmaceuticals, gas treatment, personal care, and others. Of these, amines industry share from paint & coatings segment may showcase a CAGR of 7.8% through the projected period. Organic amines, like 2-amino-2-methyl-1-propanol, are massively used in coatings as they exhibit multifunctional benefits such as in-can corrosion resistance, pH neutralization, rheology stability, pigment co-dispersancy, and low odor.
Amines market size from petroleum segment on the other hand, may cross USD 1.45 billion by 2026, while the others segment may anticipated to depict 6.4% CAGR through the projected period.
Speaking of the regional landscape, the global amines industry spans Europe, the Middle East & Africa, Latin America, Asia Pacific, and North America.
While the amines market has established a fairly distinguished position across all major economies, its progression in MEA and LATAM is particularly noteworthy. As per estimates, Latin America amines market size may cross USD 2.6 billion by 2026,depicting CAGR of 7.2% through the forecast period. The growth can be attributed to the expansion of the regional paints and coatings and mining industries. Additionally, the initiatives undertaken for water treatment in the region will also contribute to the growing industry outlook.
The Middle East and Africa is another region that is anticipated to emerge as a highly lucrative avenue for amines industry. As per reliable estimates, MEA amines industry size may cross USD 1.4 billion by 2026, register a 6.5% CAGR through the projected duration.
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