Global amines market is expected to be driven on account of increased application scope in crop protection, personal care products, paint & coatings, surfactants and water treatment. Agriculture growth in China and India coupled with rising need for yield improvement among farmers is expected to have significant impact on amines market demand in crop protection chemicals. Improving infrastructure and housing sector growth in BRICS are expected to fuel surfactants demand in the near future. Increased surfactants demand including heavy duty laundry liquids is expected to fuel amines demand over the next six years. Positive outlook on the personal care industry in Germany coupled with surging cosmetic products demand in emerging markets of China and India is expected to fuel amines market over the forecast period.
Automobile production growth in China, Malaysia, Indonesia and Mexico is expected to increase use of paints and coatings and is expected to propel amines market demand. Over the past two decades, volatile crude oil prices has hugely impacted amines price and resulted in development of alternatives bio-based chemicals. As a result, customers have started using bio-based alternatives in cleaning applications which is expected to challenge market growth over the forecast period. European Commission and EPA passed numerous regulations pertaining to restriction of amines market demand in industrial, consumer and agricultural applications which are expected to have a negative impact over the next six years. In May 2013, Croda Polymers & Coatings introduced Novel Amine-functional Dimer technology, to develop bio-based amine-functional building block for use in coatings and adhesives. These developments are expected to open new avenues over the forecast period.
Global Amines Market Estimates and Forecast, by product, 2012 - 2020 (Kilo Tons)
Ethanolamine was the largest amine product, accounting for over 50% of global market share in 2013. Ethanolamine is majorly used as a cleaning agent, in the form of monoethanolamine and triethanolamine. It is also used as a corrosion inhibitor in lubricants, machining fluids and cooling systems for industrial, automotive & marine applications. Rising health awareness and inclination towards preventive maintenance is expected to propel ethanolamine demand as cleaning agents and corrosion inhibitors. Fatty amines are expected to witness the fastest growth owing to increased use of personal care products. Moreover, growing oleochemical production is expected to ensure availability of fatty amines in the near future.
Amines are majorly used as crop protection chemicals in the agricultural industry. Application growth is expected to be a key market driver for amines demand in agriculture. However, development of bio-based products along with their increased use in crop protection is expected to impact negatively market growth over the next six years. Increased detergent demand in emerging markets of China, India and Middle East is expected to drive amines market demand in surfactants. Growing personal care products consumption among women is expected to have a positive impact on amines market over the next six years. Stringent environmental regulations regarding water pollution are expected to restrict amines market demand in water treatment.
Asia Pacific is expected to be the largest regional market on account of application growth including surfactants, personal care products, and crop protection in China and India. Agriculture, automobile and construction sector growth in China, Malaysia, and Indonesia is expected to have a positive impact on amine market over the next six years. REACH legislations in Europe aimed at restricting the use of chemicals is expected to hamper market growth in the near future. Rapid urbanization coupled with increased government spending on infrastructure development in the Middle East is expected to fuel market demand in the region.
Global amines market is highly fragmented owing to the presence of numerous companies in regional markets globally. Key companies include BASF, AkzoNobel, Dow Chemicals and Clariant. In March 2014, BASF announced the building of production plant for specialty amines in Nanjing Chemical Park which are expected to commercialize production by late 2015. Indian government’s PCPIR policy for promoting petrochemicals and chemicals production is expected to open new opportunities over the next six years.
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