Amines Market Size, Share & Trends Analysis Report By Product (Ethanolamine, Fatty Amines), By Application, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global amines market was estimated at USD 15.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.8% from 2022 to 2030. This can be attributed to rising surfactant demand as well as increased public awareness of food and health safety. Furthermore, global demand for crop protection chemicals is rising due to the growing world population, which is expected to boost the demand. Amines are organic derivatives of ammonia. The prominent end-uses of the product are the industries such as crop protection, surfactants, water treatment, personal care, and gas treatments.

The U.S. is the largest market in North America and accounts for a sizeable portion of global sales. U.S. accounted for 81.62% of the revenue in North America in 2021, a CAGR of 4.3%. Ethanolamine is an ammonia compound used in cosmetics as emulsifiers or foaming agents. Ethanolamine is used in the manufacturing of eyeliners, foundations, mascara, shaving products, and hair-care products. Increasing consumption due to the superior foaming properties will increase amines demand in the personal care sector during the forecast period. Furthermore, expansion of the agricultural sector in the region is expected to fuel demand for agrochemicals, thereby fueling the amines industry.

Growth in the industry is primarily driven by the manufacture of crop protection chemicals, which help to control weed growth through enhanced uptake and absorption. Furthermore, amines in crop protection chemicals perform well in hard water and are compatible with fertilizers. The rapid increase in population, growing awareness regarding food safety, and shrinking arable land will drive demand throughout the forecasted period.

The fluctuating cost of raw materials and negative effects on the environment are the factors anticipated to restrain the industry during the forecast period. As a result, tougher environmental restrictions will result in less consumption and manufacturing of amines.

Product Insights

Ethanolamine was the largest product, accounting for 54.0% of the market share in 2021. 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 toward preventive maintenance is expected to propel ethanolamine demand as cleaning agents and corrosion Inhibitors. Following the ethanolamine, fatty amines, which are produced from fats, natural sources, and oils or petrochemical feedstock’s, is the second largest segment.

Fatty amines are expected to witness the fastest growth owing to their usage in the manufacture of corrosion inhibitors, froth flotation agents, dispersants, emulsifiers, and additives used in the mining, construction, and refinery applications. Moreover, growing oleo chemical production is expected to ensure the availability of fatty amine in the near future.

Fatty amine and derivatives are widely used in the oil field. The main application of aliphatic diamines is asphalt emulsifiers. Diamines are also used as epoxy hardeners, corrosion inhibitors, gasoline and kerosene additives, and pigment wetting agents. Growth in the mining and refining industries in North America, Europe, and Asia Pacific is expected to have a positive impact on the market during the forecast period.

Application Insights

The crop protection segment dominated the market in 2021 with a revenue share of 33.1%. This is attributed to the growing demand for pesticides in the agriculture industry. However, the development of bio-based products along with their increased use in crop protection is expected to negatively impact market growth during the next eight years.

Increased surfactant demand in economies such as China, and India is another application segment that is expected to drive the growth of the amines market. Surfactants are used in numerous end-use industries for instance cosmetics, agrochemicals, and pharmaceuticals. Constant progress in these sectors is projected to boost amine demand throughout the forecast period.

Amines are used in industrial water treatment facilities which include boilers and cooling towers. Industrial water treatment aims to solve issues with corrosion, scaling, microbiological activity, and wastewater disposal. These products are increasingly being utilized in the water treatment industry on account of their ability to effectively eliminate bacteria in water. The rising popularity of using these in pool water and industrial water discharge on account of excellent germicidal properties is expected to boost market growth.

Other applications include medical as well as paints &coatings. They are widely employed in the manufacturing of thermoplastic polyamide powder coatings, waterborne polyurethane systems, and epoxy coatings for industrial maintenance, civil engineering, chemically resistant systems, and decorative treatments. The growing new building & construction, and remodeling of the old buildings are expected to propel paints &coatings demand, which in turn will fuel the amines demand.

Regional Insights

North America dominated the market in 2021 with a revenue share of 13.9%. This is attributed to the rising demand for amines from animal feed and nutraceuticals industries. Apart from the U.S., and Canada, Mexico also exhibits strong demand from the pharmaceutical and nutraceuticals industries. Canada’s pharmaceutical industry is a well-established and innovative sector globally.

The Europe amines industry is mature, with the presence of significant players such as Solvay S.A, DuPont, Arkema Group, and BASF, along with distributors such as Brenntag and Quadra Chemical. The demand for amines in the region is likely to witness significant growth on account of the increasing use in the manufacture of chemical intermediates and surfactants.

The Asia Pacific amines market is expected to grow significantly during the forecast period. Also, the rapidly growing FMCG industry in emerging economies such as China and India is likely to drive amines demand. Further, the water treatment application is expected to witness high growth, this can be attributed to the increasing government intervention in the provision of safe drinking water in economies such as India, Indonesia, and China.

Key Companies & Market Share Insights

The market is very competitive and fragmented in nature due to the presence of several companies. Numerous international companies are present in the industry, and they actively engage in planned mergers and acquisitions, geographical growth, product development, and invention, in order to enhance their positions, and boost profitability.

The market is established with major applications such as crop protection, surfactants, water treatment, personal care, and gas treatment. Industry growth depends upon various factors such as the availability of raw materials, production cost, and extraction processes. Some of the prominent players in the global amines market include:

• Arkema S.A.

• Akzo Nobel N.V.

• BASF SE

• SABIC

• The Dow Chemical Company

• Huntsman Corporation

• Mitsubishi Gas Chemical Company

• Taminco Corporation

• Celanese Corporation

• Solvay S.A.

• INEOS Group

• Lanxess Corporation

• LyondellBasell Industries Holdings B.V.

Amines Market Report Scope 

Global Amines Market Segmentation

This report forecasts revenue growth at a regional & country level and provides an analysis of the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global Amines market report, based on the product, application, and region:

• Product Outlook (Revenue, USD Million; Volume, Kilotons; 2018 - 2030)

  • Ethanolamine

  • Fatty Amines

  • Alkylamines

  • Others

• Application Outlook (Revenue, USD Million; Volume, Kilotons; 2018 - 2030)

  • Crop Protection

  • Surfactants

  • Water Treatment

  • Personal Care

  • Gas Treatment

  • Others

• Regional Outlook (Revenue, USD Million; Volume, Kilotons; 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • ASEAN

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa