The global alkyl amines market is expected to grow at a rapid pace over the next seven years. Increasing solvent consumption from end-use industries such as infrastructure and automotive is expected to drive the overall market from 2015 to 2022. Diversified product line used across numerous applications is expected to benefit the alkyl amines consumption.
Major product includes methylamines, ethylamine, propylamine, butylamines, and cyclohexylamines. Methylamines dominated the global product in terms of demand over the past few years and are expected to continue its dominance over the forecast period. Propylamines are expected to witness higher growth over the forecast period. Surge in demand for propylamines from applications including agrochemicals, water treatment, and pharmaceuticals is expected to benefit the alkyl amines market growth.
Solvents are an extensive end-use alkyl amine industry. Major alkyl amine based solvents include dimethylformamide (DMF), N-methylpyrrolidone (NMP), and dimethylacetamide (DMAC). DMF is a widely used solvent in industrial applications.
Besides solvents, increasing demand for agrochemicals in the form of pesticides is expected to have a positive impact on the global alkyl amines market over the forecast period. Other applications include rubber processing, water treatment, feed additives, paper chemicals, and pharmaceuticals.
Stringent government regulations regarding overexposure of methylamines which result in harmful effects on human skin may cause major hindrance to the overall market growth. Transporting alkyl amines is hazardous and involves high maintenance charges. Volatile raw material prices and foreign exchange fluctuations may have a direct impact on the overall alkyl amines market growth. Major raw materials include ethyl alcohol, ammonia, and industrial gases.
Increasing manufacturing capacities coupled with innovation in pharmaceutical application is expected to provide new opportunities for market participants. A recent report by U.S. researchers revealed that alkyl amines exhibit insulin-releasing properties in in-vivo and in-vitro. This characteristic is expected to be employed to manufacture improved anti diabetic drugs in place of mafenide. Such innovations are expected to widen alkyl amines market scope and also yield new opportunities for industry participants. Supply agreements of major market participants are expected to maintain the supply demand imbalance.
Asia pacific alkyl amines market accounted for over 50% of the overall revenue in 2014. China held over 75% of the total regional revenue in 2014. Emergence of high end-use applications in countries such as China, Vietnam, Indonesia, Malaysia, South Korea, and India are expected to witness significant growth over the next seven years. It is also expected to witness the fastest growth over the forecast period.
Increasing infrastructure spending in counties such as Brazil, Saudi Arabia, Russia, and Mexico is expected to complement the respective regional market growth from 2015 to 2022. North America alkyl amines market is characterized by product development and its increasing application scope in pharmaceuticals. The U.S. promises rapid growth over the forecast period.
The alkyl amines industry is moderately fragmented in nature. The presence of numerous industry participants makes the market highly competitive. Hence frequent price wars, M&As, and various strategic decisions are witnessed. Entry barriers are high for the new entrants. Low switching costs create room for buyers and increase competition among the business players. Major industry participants invest to create improved products to gain a competitive advantage over fellow participants.
Some major companies operating in the global alkyl amines market include E.I. Du Pont DE Nemours, BASF SE, Akzo Nobel Chemicals AB, and Arkema Group held over 30% of the overall market in 2014. Other major manufacturers include Shandong Huala Hengsheng Chemical Co., Ltd., 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, Daicel Chemical Industries Ltd., BorsodChem MCHZ and Alkyl Amines Chemicals Ltd.
This report has a service guarantee. We stand by our report quality.
We are in compliance with GDPR & CCPR norms. All interactions are confidential.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
"The quality of research they have done for us has been excellent..."
Demand across the organic chemicals sector shall register a slump in growth albeit increasing demand for certain chemicals that find end applications in healthcare and food. Furthermore, China, a major supplier of chemicals to the world, registered a considerable decline in manufacturing in the first quarter of 2020, following the trajectory unfolded by COVID-19's escalation to a pandemic. This has led to an imbalance in supply-demand dynamics, forcing manufacturers and customers alike to renegotiate supply agreements. The report will account for Covid19 as a key market contributor.