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Global Amines Market to Grow at a CAGR of 4% During 2021-2026, Aided by the Use of Amines in the Agricultural Sector

According to a new report by EMR titled, ‘Global Amines Market Report and Forecast 2021-2026’, the market is expected to grow at a CAGR of 4% in the forecast period of 2021-2026.

The Asia Pacific region is expected to witness significant growth in the forecast period. This is due to the increasing production of agrochemical products in the region. Additionally, increasing investments and evolution of the agriculture sector in countries such as India, China, and Japan are further anticipated to lubricate the industry growth. Moreover, rapid industrialisation and favourable government policies to aid the domestic production are also driving the amines industry. Europe too is witnessing robust growth due to the increasing competitiveness among the leading companies. This has surged the research and development (R&D) and the development of better products, which is further fuelling the market growth. Moreover, large production capacities of the leading companies are also augmenting the market growth. Meanwhile, North America is also witnessing significant growth owing to the increasing awareness about health and safety. Rising demand for high crop yield in limited arable land to meet the demands of the surging population is further facilitating the market growth, further contributing significantly to the overall market for amines.

Solvay S.A. (EBR: SOLB), one of the leading players in the market, announced its merger with Noxeo Solutions in February 2017. The product is channelled into the Rhodoline Defoamer product line in the United States, Canada, and Mexico. Solvay attempts to focus on the continued development of solutions for the coating and emulsion polymerisation markets of amines. Moreover, it offers various amines, such as Fentamine DMA18, a tertiary anime, which is used as an antistatic agent and emulsifier for cosmetic applications. In addition, it can be used in industrial water treatment; the development of such products is further expected to aid the market growth.

Market Analysis by Product, Application, and Region:

  • The market on the basis of products can be divided into ethanolamines, fatty amines, and alkylamines, among others.
  • Based on applications, the industry can be divided into crop protection, surfactants, water treatment, personal care, and gas treatment, among others.
  • The regional markets for amines include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The use of amines as a fertiliser in the agricultural sector and agrochemical products to produce pesticides is propelling the market growth.
  • The growth of the amines industry is being aided by the end-use of amines in plastic, chemical, and energy industries.
  • The growth of the cosmetics and personal care industry and the use of amines to maintain the suitable pH of the products are augmenting the market growth.
  • The rising awareness regarding clean drinking water and the increasing industrial water treatment are catalysing the growth of the amines industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global amines market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the products, applications, and regions of amines.
  • It assesses the regional price trends for the (2016-2020) and (2021-2026) periods. 
  • The market report also analyses the trade data by covering the major importing and exporting countries. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for amines are Arkema S.A., Dow Chemical Company, Huntsman International LLC, Solvay S.A., and Lanxess AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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